Abramovich, Roman 38
Aeroflot 111, 114
Amnesty International 124 see also China
Apple 9, 22, 193, 200 see also Jobs, Steve
Arthur Andersen 20
dissolution of 143
Auletta, K 83
Bank Menatep 36–38
creditors of 38
and Menatep–St Petersburg 38
and Yukos 37 see also Yukos
banks see also Bank Menatep and China
Bank of China 123
Bank of Scotland 62–63
Barings 201
Federal Reserve Bank of New York 79
Icelandic 45–46 see also Icelandic banks
Royal Bank of Scotland 183
Baugur Group 49–53 see also Jóhannesson, J A
acquisitions of 51
in administration 53
and franchise agreements with Arcadia Group 51
listed on Iceland Stock Exchange 50–51
and stakes in British retailers 51, 52
Bear Stearns 7, 166–74, 190, 195, 198, 200, 201 see also Cayne, James
and Alan Greenberg 169
collapse of 172–73
founding and expansion of 166–67
High-Grade Structured Credit Strategies Funds 171
innovative mortgage structure of 171–72
and JP Morgan Chase 172, 173
Belgo restaurant chain 68–70, 74
Berezovsky, Boris 8–9, 38, 109–18, 193, 195–96
accused of fraud 114
acquires British citizenship as Platon Elenin 109–10
acquires ownership of Sibneft oil company 111
as adviser to Yeltsin 112–13
and Alexander Litvinenko 116
assassination attempts on 115
Brazil issues arrest warrant for 115–16
character of 116
clashes with Putin 113–14
controls Aeroflot 111
creates LogoVaz 111
early life and education of 110
flees to Britain 113
initial business dealings of 110–11
involved in Chechnya 112–13
and Joseph Bear 166
as media baron 111–12
and money-laundering accusations 115–16
in politics 112–13
and stake in Russian television channel ORT 112, 113
threatens to overthrow Putin 110, 114
and US-based International Foundation for Civil Liberties 114
Bird, Heather 182 see also Tchenguiz, Robert
Björgófsson, Thor 50
Blair, Tony 59, 60, 70
Bonfire of the Vanities, The 196
Borget, Louis 144
Brenninkmeyer family see Power, Tim
bridge/bridge-players 165–66, 168–70, 174 see also Cayne, James
Alan Greenberg 169
Andrew Robson 165
Laurence Tisch 169
Milton Petrie 169
Buffett, Warren 193, 203
Burnett, Charles 68, 71 see also Power, Tim
Bush, George W 139, 141
Business Enterprise and Regulatory Reform, Department for 75
Business Week 16–17
Cantor Fitzgerald (bond trading firm) 81, 182–83
Carnegie, Andrew 203
Caudwell, John/Phones4u 9
Cayne, James 7, 165–75, 195, 198 see also Bear Stearns and bridge/bridge-players
aspires to playing professional bridge 168–69
and commodities investor Joe Lewis 172
dumps Bear Stearns shares 172–73
health and hospitalisation of 170–71
joins Bear Stearns 169
out-of-office bridge- and golf-playing 170
pilloried in press 173
plays in Nashville bridge tournament (2007) 166
as president, then CEO and chairman of Bear Stearns 170
Chance, Nicholas 161–62 see also Leech, Kevin
China (and) 119–26 see also Shanghai and Zhou Zhengyi
Bank of China and bribery charges 123
Chen Liangyu 125
Communist Party and government of 120–21, 125
corruption in 120, 125–26
culture of entrepreneurship in 121
Hu Jintao 124, 125
Mao Zedong 120
punishments and executions in 123–24
Wen Jiabao 124
Clinton, President Bill 16, 194
and universal home ownership 167
Commonwealth of Independent States (CIS) 162
Crystal Palace Football Club (and) 6, 10, 38, 128, 130–36 see also Noades, Ron and Venables, Terry
Brolin, Tomas 132
Coppell, Steve 132, 135
Del Rio, Walter 134
Ledesma, Christian 134
Lewington, Ray 132
Lombardo, Attilio 132
McAvoy, Jim 133, 134
Petric, Gordan 133–34
relegated from Premier League 132
Rodrigues, Pablo 134
spending on staff appointments 134–35
customers, understanding 190–91
Darling, Alistair 46 see also Landsbanki
Dawnay Day 89–97
early history of 89
holdings and acquisitions of 89–91
last board meeting at 96–97
loan (from Norwich Union) is called in 95
trade in stocks 95
Dawnay Day mc2 Capital Management 90
Dawnay Shore hotels 90
definition of great entrepreneur 192–93
Ebbers, Bernie 2, 3, 5, 7, 10, 13–23, 194, 202
charges against 20–21
education and early career of 13–14
founds Long Distance Discount Service (LDDS) 14–15
indicting and sentencing of 20–21
inducted into Mississippi Business Hall of Fame 16
and LDDS becomes WorldCom 15 see also WorldCom
marries Linda Pigott 14
operates hotel chain 14
personal acquisitions of 18–20
receives honorary degree and doctorate 16
religious faith of 11–12, 13, 20
and telecommunications 14–16
Elkind, P 149
Ellison, Larry 200
and Oracle 200
Enron Corporation (and) 2, 142–49, 190, 193 see also Lay, Ken
Andrew Fastow 21, 145–48
exempted from code of ethics 145
fired 146
indicted, convicted and jailed 147–48
effect on Arthur Andersen 143
failure of Dabhol Power Plant 144
files for Chapter 11 bankruptcy 140, 142
Jeff Skilling 12, 145–48
Lou Pai (CEO of Enron Energy Services) 145–46
mark-to-market accounting 144
Securities and Exchange Commission start investigation 147
Sherron Watkins 146–47
trading platform EnronOnline 142–43
entrepreneurship, characteristics needed for 31–32
entrepreneurship, lessons in 194–205
advice vs hype 194–95
broken business models 202–03
enjoying success 197–98
leaving a legacy 203–05
luck and success 196–97
making realizable profits 201–02
and Master of the Universe attitude 196
miracle of the mundane 199
myth of unassailable wealth 198–99
revenge on the past 195–96
understand or be misled 200
Financial Times 60, 84, 201
Financial World 17
Foley, S 141
Forbes magazine 5, 17, 99, 119
400 list 18
Fortune 17, 58, 167
Most Admired Companies 143
Foster, Christopher 2, 24–33, 202
background of 26
burns stables and house 24–25
buys Osbaston House 28
character and depressed state of 31–32
as entrepreneur 27
debts of 31
and dispute over Cyprus property 29
and gun ownership/passion for shooting 28–29
in legal dispute with DRC Distribution 29–30
and legal order on Osbaston House 30
murders wife and daughter 24–26
sets up UlvaLtd 27
transfers Ulva’s assets 29–30
Frankfurter Allgemeine Zeitung 104, 105
Fuld, Dick 3, 77–87, 174, 189, 198 see also Lehman Brothers
early life and education of 77–78
and Federal Reserve Bank of New York 79
and Hank Paulson 82–3
psyche of 84–85
testifies to US House Committee 82
varied roles of 79
Gates, Bill 9, 197, 203
Geithner, T 83 see also Lehman Brothers
General Electric 190
Goldberg, Mark (and) 128–38 see also Noades, Ron and Venables, Terry
bankruptcy of 129
is barred from being company director 135
Crystal Palace Football Club 6, 10, 128, 130–35 see also main entry
defaults on loan repayment to Noades 135
early life of 129
his own comments 136–38
legal wrangles 136
as manager of Bromley Football Club 136
passion for football 6, 129
pays players’ wages 135
sets up MSB International 130
spending on staff for Crystal Palace 134–35
Gorbachev, Mikhail 36, 110
Gowers, Andrew 84–5 see also Fuld, Dick and Lehman Brothers
Greed and Glory on Wall Street 83
Greenberg, Hank 193
and AIG 193
Guardian, The 114, 180–81
Gudmundsson, Björgólfur and Thor 49 see also Landsbanki
set up Bravo brewery in Russia 49
Gudmundsson, Lýdur and Ágúst 49
Guinness Book of Records, The 58, 68
Haji-Ioannou, Stelios 197
Harman, Harriet 7
HeidelbergCement 101–02 see also Merckle, Adolf
acquires Hanson plc 102
Henry VIII, King 7–8, 19
and Hampton Court Palace 7–8
House of Fraser 51, 52
HSBC 190
Iceland 4, 45–54, 183, 201–02 see also Icelandic banks
collapse of major banks in 45
decline of currency in 45
and expansion of fishing rights 48
fishing quotas in 48
IMF loan for (2008) 46
left-wing government for 46
tradition of subsistence whaling in 47, 53
Icelandic banks 45–46 see also Kaupthing and Landsbanki
Straumur 49
Inc. 17
Independent 58, 154
intelligence, definition of 4
International Monetary Fund (IMF) 46, 189
Jersey see Leech, Kevin: venture capitalist
Jobs, Steve 9, 193, 200
Jóhannesson, Jón Ásgeir 4, 45–55, 194, 200, 201 see also Baugur Group
marries Ingibjorg Palmadottir 51
John O’Groats Journal 156
Johnson, Luke 201
Joly, Eva 46
Kaupthing 183–85, 202 see also Tchenguiz Robert
collapse of 184
sells investments 185
Khodorkovsky, Mikhail 2, 8–9, 34–44 see also Bank Menatep and Yukos
acquires publishing rights to Moskovskiye Novosti 40
considers deals with America 39–40
early life and education of 35
imprisonment of 35
and involvement with Komsomol 35–36
lobbies against bill to increase oil taxes 39
sentencing and imprisonment of 41–42
and Yuganskneftegaz 41
Khodorkovsky & Lebedev Communications Center 42
Kiam, Victor 192
and Remington 192
Klesch, Gary 60–61 see also Singh, Reuben
buys Miss Attitude 60
and Klesch Capital Partners 57
Klimt, Peter 9, 88–98, 190, 194 see also Dawnay Day
character of 91–92
early life and training of 89
and Sleep Dealer 88–89
Landsbanki 45–46
assets frozen under UK Anti-terrorism Act (2001) 46
and loans to Baugur Group companies and Novator Pharma 50
Lane-Fox, Martha 59
Lay, Ken 2, 3, 5, 139–49, 193, 200 see also Enron and Skilling, Jeff
death of 139, 148
early life and education of 140
encourages employees to invest in Enron stock 147
faulty management style of 144
memorial service for 139–40
as ‘Pioneer’ supporter 141
pleads Fifth Amendment 148
in politics 140–41
and religion 11, 12, 143, 146
resigns as Enron chairman and CEO 147
urges deregulation of US gas market 141
Lebedev, Platon 40–42
arrest of 40
sentencing and imprisonment of 41
Leech, Kevin: venture capitalist 4, 11, 152–64
and ci4net ‘economic network’ 157–59
declared ‘en desastre’ – bankrupt 159–60
early life and education of 152
eclectic business empire of 154–56
Condor Ventures 162
Devilfish Gaming 162
First London Securities 161–62
Heritage Great Britain 154, 160
John O’Groats Hotel 154, 155–56
Land’s End Hotel 154, 155
Needles Pleasure Park 154–55
Queensborough Holdings company 154, 156
Snowdon Mountain Railway 154, 155
invests in internet start-up firms 157
and Jersey-based trusts 154, 160
released from bankrupt status 161
and Robin Reliants 156–57
has stake in Accura Pharma 161
in Sunday Times Rich List (2000) 159
Leeson, Nick 201
legacy, leaving a 203–05 see also mark on the world, leaving a
Lehman Brothers 7, 77–85, 174, 182, 183, 189–90, 198, 200, 201 see also Tchenguiz, Robert
and 9/11 attacks 81
acquires Aurora Loan Services 81
acquires BNC Mortgage 81
acquires Neuberger Berman 81
and American Express 78
collapse of 184
corporate governance structure of 85
culture of 84
employee dress code 83–84
employee ownership of 80
files for Chapter 11 bankruptcy protection 82, 189
founding and early history of 78
and Gregory, Joe 85
growth and share price of 79
losses 78
merges with Kuhn, Loeb & Co 78
and New York Cotton Exchange 78
and sub-prime lending 79
Lehman Brothers, Kuhn, Loeb Inc. 78
Litvinenko, Alexander 116
Lowe, Tim 70 see also Power, Tim
McLean, B 149
Madoff, Bernard 3, 105
Mail on Sunday 64
Rich Report (2001) 58
Management Today 180
Manager 102, 106
mark on the world, leaving a 8, 19, 203
Markov, Sergei (political consultant) 116
Mayer, Harold 166 see also Bear Stearns
MCI Communications Corp 16
and CEO Bert Roberts 16
Medvedev, Dmitry 115
Merckle, Adolf 2, 7, 10, 99–108, 189, 193
acts like hedge fund 104–5
asks for state aid 105
banks demand security from 104
character and lifestyle of 102–03, 105–06
early life and education of 99–100, 101
founds Ratiopharm 100
hands over running of business to Ludwig Merckle 101
high-stake stockmarket gambling of 105
invests in Heidelberg-Cement 101–02 see also HeidelbergCement
risky investments of 103–04
sets up Phoenix Pharmahandel 100
suicide of 99, 107
money, the art of 88–98 see also Dawnay Day; Klimt, Peter and Naggar, Guy
mundane, importance and miracle of the 22, 191, 199
Murdoch, Rupert 193
Naggar, Guy 3, 9, 88–98, 190, 198 see also Dawnay Day
art collection of 93, 94, 96
character of 91, 92
early life and education of 89
and Sleep Dealer 88–89
Naggar, Marion 93–94 see also Samuel, Lord Harold
and the Samuel art collection 94
Network World 18, 22
New York Cotton Exchange 78
New York Press 88
New York Times 18, 51, 73
Noades, Ron 131–32, 135
gives Goldberg a Porsche 132
offers Goldberg purchase/lease of Crystal Palace Club 131
sues Goldberg 135
Obama, Barack 83
attacks ethic of greed 173
Oettinger, Günther 105 see also Merckle, Adolf
oil/oil companies see also Berezovsky, Boris; Khodorkovsky, Mikhail and Yukos
and Presidential Decree 872 (1995) on state shares 111
Sibneft 111
oligarchs see Berezovsky, Boris; Khodorkovsky, Mikhail and Putin, Vladimir
Paulson, Hank 82–3
Peskov, Dmitry 115
Phelps, Michael 11
philanthropic entrepreneurs 203
Power, Tim 66–76
arrest, sentencing and imprisonment of 72–75
bar and business ventures of 71
and Belgo restaurant chain 68–70
and divorce 70
early life of 67
and Ferraris 69, 71–72
and insider trading 70, 73
leaves Belgo 70
lifestyle of 69–70
marries Chantal Brenninkmeyer 67
power politics 119–27
Property Week 91, 92, 96
and Claer Barrett 96
Putin, Vladimir 34–35, 39–40, 42, 109, 116, 196
clashes with Berezovsky 113, 114
is succeeded by Dmitry Medvedev 115
threats to overthrow 110, 114
Ratiopharm 100, 105
religion/religious believers 11–12
and attitude to suicide 107
Robin Hood Foundation 3, 79
Robin Reliant automobiles 156–57 see also Leech, Kevin
Ronson, G 18
and Heron International 18
Rothschild, Jacob 205
Russia (and) 8–9, 34–42, 162
Bravo brewery 49
devaluation of rouble in 38
Esquire magazine 42
investment climate in 37–38
KGB 34
Komsomol 35–36
Law on Cooperatives (1987) 110
Moscow Times 42
Sainsbury’s 183, 184
Samuel, Lord Harold 93–94
fine art collection of 94
and post-war property market 93
San Francisco Chronicle 88
Shanghai 119–26 see also Zhou Zhengyi
building practices in 121–22
expansion of 121–22
‘faction’ 123–24
history and economic importance of 120–21
Sigurdsson, Gunnar 54 see also Baugur Group
Sim, Stuart 156 see also Leech, Kevin
Singh, Reuben 3, 11, 56–65, 190, 196
and AlldayPA 57, 63–64
appointed to Small Business Council (DTI) 59–60
as Asian Entrepreneur of the Year (2002) 58
and collapse of Robson & Steinberg 61
and the Competitiveness Council 59
debts of 62–63
declared bankrupt 63
downfall of 60–64
early life and education of 56–57
in Guinness Book of Records 58
and loan from Bank of Scotland 62–63
and Miss Attitude 57, 60
retail empire of 57
parents of 58–59, 61–64
praise for 57–58
signs up for National Enterprise Campaign 59
and Tony Blair 59, 60
Skilling, Jeff 12, 144–49, 200
character of 145, 146
indicted, convicted and jailed 148
social and community recognition, and the entrepreneur 79–80
Somerfield supermarket group 52
Sorkin, A R 83
Soros, George 192
and investments in Russia 172
Sorrell, Sir Martin 18
sources and references 23, 33, 43–44, 55, 65, 76, 86–87, 97–98, 107–08, 117–18, 126–27, 138, 149–50, 162–64, 174–75, 186–88
Sprint Communications 17, 202
Stearns, Robert 166 see also Bear Stearns
Stone, Jamie (Scots Parliament MP) 156
Stone, Oliver 80
and Wall Street 80
successful entrepreneurs and companies
Alan Sugar 59
American Express 204
Apple 9, 22, 193, 200 see also Jobs, Steve
Bill Gates (Microsoft) 9, 197, 204
Charles Dunstone (Carphone Warhouse) 9
Google 204
IBM 204
James Dyson 59
John Caudwell (Phones4u) 9
Marks & Spencer 204
Richard Branson 59, 154, 197
Tesco 22, 190, 204
Wal-Mart and Walton family 9, 22, 190
suicides 99, 107, 148, 202
Sunday Times 58, 84
Rich List 5, 182
Tchenguiz, Lisa 181, 184
Tchenguiz, Robert 4, 11, 176–88, 189, 190, 194, 195, 201 see also Tchenguiz, Victor and Tchenguiz, Vincent
acquires portfolio of properties and pub groups 178–79
bids for Selfridges 182
builds up holding in Mitchells & Butlers 179
early life and education of 176–77
and Exista 185
financial losses of 183–84
in gossip columns 181
and £180 million lawsuit 185
marries Heather Bird 182
as oil trader in New York 177
and Oscatello 184
other investments of 179–80
personal problems of 184
refinances and buys cinema and supermarket chains 179
and R20 investment vehicle 178–81, 186
starts Rotch (buy-to-let) with brother Vincent 177–78
and Vin-Rotch Properties 183
wealthy life-style of 181–82
Tchenguiz, Victor 176–77, 182–83
and Aceville Investments 182
examined by FSA and Takeover Panel 182
moves to Israel 182
and Shah of Persia 176–77
Tchenguiz, Vincent 177–78, 182–83, 195
controls Rotch 178, 183
sets up Consensus investment vehicle 178–79
Tchenguiz Discretionary Trust 184–85
telecommunications industry 15–18 see also Ebbers, B
Time Out Chicago 88
Trade and Industry, Department of 132
case against Terry Venables 132–33
United Kingdom
Anti-terrorism Act (2001) 46
Capital Issues Committee 93
City of London 80
Financial Services Authority (FSA) 182
London Stock Exchange 80, 153
Takeover Panel 182
United States (US)
9/11 attacks on 81
Federal Home Loan Mortgage Corporation 167
Federal National Mortgage Association 167
House Committee on Oversight and Government Reform 82
Obama administration of 83, 173
and New York City financial crisis (1975) 169
and Sarbanes–Oxley Act (2002) 143
Securities and Exchange Commission 147
Treasury Secretary: Hank Paulson 82–83
Treasury Secretary: Timothy Geithner 83
Venables, Terry (El Tel) 128
appointed manager of Crystal Palace Club 132, 133
banned from being company director 132–33
as consultant to Australian Football Association 133
leaves Crystal Palace Club 134
Wall Street 80
crash (1929) 166
Wal-Mart 9, 22, 190
websites see sources and references
Weinstock, Lord 18
and GEC Marconi 18
West LB 183
Wolfe, Tom 80, 196
women in business 7–8
Woodroffe, Simon 59
World Economic Forum (Davos, 2007) 84
WorldCom 2, 3, 13–22, 190
accounting misstatements of 20–21
acquires MPS Communications 15–16
acquires UUNet 15
and bankruptcy 21
as Business of the Year (1998) 16
and Cynthia Cooper 20, 21
fall of share price of 18
and Sprint Communications 17, 202
Yeltsin, Boris 36, 37, 109, 111, 112
Yeo, Tim 162
Yukos 35, 37–39
and audit of books by tax authorities 40
listed on New York Stock Exchange 39
and Sibneft 38
tax bills for 40–41
Zhou Zhengyi 2, 119–27, 203
as 11th richest man in China 119
charged with fraud and falsification 123
and Chen Liangjun 122
early life of 121
faces lawsuit from homeowners 122–23
sentenced for bribery and embezzlement 120, 125–26
and wife Sandy Mo charged with fraud 123
and Yu Jinbao 125–26
Zhirinovsky, Vladimir 112