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Bangladeshi billionaires: Where art thou?

mb444

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We created your shithole and we can end it as well😁
What you mean is we broke your supposed akhand bharat in two. We have been here as long as you have and no you do not have capacity to end us. However if it makes you sleep well let it be.

Are you aware that you are conversing with nilgiris reincarnation here?

He has multiple accounts but this one in his favourite
Oh ok... i did not realise... one shall desist henceforth in engaging the contrarian myopic imbecile
 

SMX 3.0

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Your examples relates to capital intensive investments.

Never knew that a smartphone is a capital intensive investment. More creative excuses.

BTW ever seen the kind of value addition your statistical office BBS estimates for that small fleet of transport vehicles you have? Hilarious stuff, really.

It does not mean it has not exported huge amount of manpower globally.

We know exactly the kind of manpower you export, so let's not get into it. You definitely aren't exporting IT workers or healthcare professionals.

It does not mean it has not developed industry that negates the need for imports.

Yes, the Economic Complexity Index has shown it nicely.

But hey, at least Bangladeshis are not oppressed or persecuted like Indian Muslims are

Asim Premji & MA Yusuf Ali are also in the list of Indian billionaires, are they oppressed as well?

What you mean is we broke your supposed akhand bharat in two.

Yeah & 3 million of you died for just that. What a sacrifice, my eyes fill up. :lol:

After inventing creative excuses for BD's low consumption, he is inventing creative excuses for getting killed in millions.

Talking about that $2515<$2362 brain fart?
 
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Black Tornado

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Never knew that a smartphone is a capital intensive investment. More creative excuses.

BTW ever seen the kind of value addition your statistical office BBS estimates for that small fleet of transport vehicles you have?



We know exactly the kind of manpower you export, so let's not get into it. You definitely aren't exporting IT workers or healthcare professionals.



Yes, the Economic Complexity Index has shown it nicely.



Asim Premji & MA Yusuf Ali are also in the list of Indian billionaires, are they oppressed as well?
Wonder what excuses do they give now?
4G users in BD: 21.5 Million (2019)(Source) x 8.38282208589 = 180 Million
4G users in India: 680 Million (2020)(Source)

Even on a per capita basis they’re unable to afford 4G
 

SMX 3.0

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Wonder what excuses do they give now?
4G users in BD: 21.5 Million (2019)(Source) x 8.38282208589 = 180 Million
4G users in India: 680 Million (2020)(Source)

Even on a per capita basis they’re unable to afford 4G

Even worse, their mobile market is still dominated by feature phones, that should say a lot about the spending power.

But I guess that's the price one has to pay for having a "compassionate society".
 

UKBengali

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Even the much hyped textile industry in Bangladesh employs just 4.4mn people compared to the 45 million in India, 10.23 times more for a population 8.3 times big.
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View attachment 857338



Dude, you are a good poster and so let us try to be sensible.

Yes per capita India employs more people in the industry but you need to understand that BD textile industry is more mechanised and efficient than India's is.

BD per capita produces more value from textiles than India does. That is the reason that India has that many people in the textile industry.
 

MultaniGuy

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Never knew that a smartphone is a capital intensive investment. More creative excuses.

BTW ever seen the kind of value addition your statistical office BBS estimates for that small fleet of transport vehicles you have? Hilarious stuff, really.



We know exactly the kind of manpower you export, so let's not get into it. You definitely aren't exporting IT workers or healthcare professionals.



Yes, the Economic Complexity Index has shown it nicely.



Asim Premji & MA Yusuf Ali are also in the list of Indian billionaires, are they oppressed as well?



Yeah & 3 million of you died for just that. What a sacrifice, my eyes fill up. :lol:

After inventing creative excuses for BD's low consumption, he is inventing creative excuses for getting killed in millions.


Talking about that $2515<$2362 brain fart?
You only mentioned a couple.

There are wide-scale communal riots, harassment, and persecution of Muslims in India.

I may not forgive Bangladesh for betraying Muslim unity, the 1971 war. lol freedom from what? Another Muslim country?

but atleast the Bangladeshis are not living under Hindu oppression. I will give them that.
 

EasyNow

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This is exactly why I come to this section again & again. Where else can we find such creative excuses for backwardness.

Having more cares have everything to do with showing off- it has nothing to do with income levels or having a sizeable middle class. Obviously. :D

Guess why Bangladesh have a far lower number of trucks per capita as well? That's because Bangladesh is a compassionate society which understands that shipping stuff on trucks does no good, when poor people exist in Bangladesh. :rofl:



We aren't exactly talking about folks who make your women do slave labour in unsafe sweatshops here.

Senapathy "Kris" Gopalakrishnan is an Indian billionaire from the state of Kerala & one of the co-founders of Infosys.

View attachment 857332

Today his company employs 270,000 & has a 20,000 seater campus in his home state. Obviously nothing to be proud of here.

It's all about greed, you know.

Is 'Kris' your relative by any chance? If not then why are you acting like his wealth is your achievement? How warped are you to boost your ego with other men's net worths while ignoring the despair of millions.

You say he has created jobs - but 87m Indian women are living in extreme poverty.

You elevate these greedy supermen for employing people - but you forget that people find work regardless. The unemployment rate is lower in BD than India (another stat where BD trump's India) and we don't need billionaires for that.



As for this low class thread:

Iceland, Belgium, Hungary, Georgia, Qatar are just some countries that have only 1 billionaire in their population.

Only a greedy imbecile like you would equate number of billionaires with the state of an economy.
 

SMX 3.0

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Is 'Kris' your relative by any chance? If not then why are you acting like his wealth is your achievement?

He is from my own state & his firm employs 20,000 in my state alone and that indirectly contributes to my earnings in a few ways- my family do own a few businesses around that IT park.

But obviously, we can't expect imbeciles- who think having higher consumption of cars are for showing off-understand how such ventures lead to indirect job creation.

but 87m Indian women are living in extreme poverty.

But none end up hanging from that border fence after getting shot by the border fence. Why do that, when Bangladesh has (supposedly) lower unemployment rate

You elevate these greedy supermen for employing people - but you forget that people find work regardless

Like how your population find jobs in India after scaling that border fence? Or how they end up in boats trying to cross the Mediterranean Sea?

The unemployment rate is lower in BD than India

The quality of that "employment" does show in your consumption figures. And that's even after exporting quite literal "manpower" to the Middle East.
 

EasyNow

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He is from my own state & his firm employs 20,000 in my state alone and that indirectly contributes to my earnings in a few ways- my family do own a few businesses around that IT park.

But obviously, we can't expect imbeciles- who think having higher consumption of cars are for showing off-understand how such ventures lead to indirect job creation.



But none end up hanging from that border fence after getting shot by the border fence. Why do that, when Bangladesh has (supposedly) lower unemployment rate



Like how your population find jobs in India after scaling that border fence?

So u have stooped to those depths..

As a typical Indian you happily boast with another man's wealth. I wonder how you feel about this though:




Ps: reminder, despite your hero employing your family - unemployment is higher in India than BD
 

SMX 3.0

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You elevate these greedy supermen for employing people - but you forget that people find work regardless

He wan't a billionaire when he invested in IT, you dummy. He started off as a software engineer, who later resigned and co-founded the then start-up called Infosys.

I understand that's quite difficult for a Bangladeshi to understand, most of your low technology RMG sweatshops are family owned enterprises. The existence of self made billionaires may be shocking to you.

Even more shocking for you would be the fact that one can make money without exploiting poor women for 12-14 hours a day. :lol:

As a typical Indian you happily boast with another man's wealth

I don't expect a citizen of a two-USPTO-patent-an-year LDC to have the ability to comprehend things, either.
 

EasyNow

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He wan't a billionaire when he invested in IT, you dummy. He started off as a software engineer, who later resigned and co-founded the then start-up called Infosys.

I understand that's quite difficult for a Bangladeshi to understand, most of your low technology RMG sweatshops are family owned enterprises. The existence of self made billionaires may be shocking to you.

Even more shocking for you would be the fact that one can make money without exploiting poor women for 12-14 hours a day. :lol:



I don't expect a citizen of a two-USPTO-patent-an-year LDC to have the ability to comprehend things, either.

You're ranting now.

You don't have the capacity - mentally or morally - to understand that having more billionaires means nothing for wider society.
 

PadmaBridge

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Bangladeshi billionaires: Where art thou?

Sheikh Rafi Ahmed

11 June, 2022, 09:30 am
Last modified: 11 June, 2022, 11:26 am

Despite all its economic growth, no Bangladeshi has made it to the Forbes billionaire list yet. One cannot but wonder: if Bangladesh is really doing so well, where are all the billionaires?

View attachment 857268

There are 2,669 billionaires in the world, and none of them belong to Bangladesh, as reported in the recently released 2022 World's Billionaires list by Forbes. Even Eswatini (formerly called Swaziland)– a small African economy a hundred times smaller than Bangladesh – boasts a billionaire.

But Bangladesh should have had a billionaire by this point, right? Firstly, Bangladesh remains one of the fastest-growing economies in Asia, if not the world, despite the twin crises of the Covid-19 pandemic and the Russian invasion of Ukraine. Moreover, with economic growth, the income inequality in Bangladesh is also rising rapidly, implying the concentration of wealth in the hands of the few.

More precisely, the Gini coefficient – used to measure income inequality in a country – rose to 0.482 in 2016 from 0.458 in 2010 and is likely to increase further. Furthermore, according to Bangladesh Bank, the number of millionaire accounts (in Tk) rose by 13,881 in 2021 alone, despite the economic slump during Covid-19.

All of these make you wonder: if Bangladesh is really this prosperous, why are there no billionaires here?

It is often argued that there indeed are billionaires in Bangladesh, but they are hiding all of their wealth in offshore accounts and real estate. Their apprehension would be justified given that 11 Bangladeshis were named in the Pandora Papers for doing precisely that. It is indeed true that large sums of capital outflow, as well as tax evasion in Bangladesh, make it difficult to estimate the real wealth of many individuals and this lack of reporting may be a contributor to Bangladeshi billionaires not being included.

However, blaming it all on money laundering and tax evasion would be short-sighted. Firstly, $1 billion is a ton of money. Converted into the local currency, one would need to accumulate approximately Tk8,600 crores to be considered a billionaire by Forbes. So, it may be true that no Bangladeshi have accumulated this much wealth.

It is also worth mentioning that not having a billionaire is not necessarily a problem and might, in fact, point toward a more competitive, consumer-friendly and fair organisation of the markets. Hence, refraining oneself from plucking the low-hanging and often simplistic explanation may provide room for more nuance.

Firstly, I hypothesise that several factors can facilitate the accumulation of wealth such as the size of the economy, per capita income, investment climate, trade openness, the extent of privatisation, lack of antitrust policies, monopolistic or oligopolistic natural resources as well as public services market, poor and corrupt institutions, adoption of technology and innovation etc. The effects of each factor are country-specific and not at all universal.

Further, I am ignoring the countries with only one billionaire as the evidence of one billionaire might not be robust enough to point towards a pattern. For example, Eswatini's only billionaire Nathan Kirsh primarily owns his assets in New York and London and is only recorded under Eswatini because of his nationality.

Now, let's talk about the size of the economy. The US is the largest economy in the world and, thereby, has the highest number of billionaires (735) in the world. The same could be said for other large economies such as China (539), Germany (134), Japan (40), United Kingdom (49), India (166), France (43), Italy (52), Canada (64), Russia (83), Australia (46) etc.

All of these countries occupy the upper-most position in the Forbes list for countries with the most billionaires. While it is tempting to conclude that the size of the GDP of an economy determines the number of billionaires, there's more to the picture than meets the eye.

For starters, Forbes' list of countries with the highest number of billionaires also consists of two much smaller economies, namely, Hong Kong and Taiwan. With a GDP roughly equal to Bangladesh, Hong Kong boasts 67 billionaires while Bangladesh has none. Similarly, Taiwan's nearly twice the size of Bangladesh's economy. But it has 51 billionaires. One explanation for this discrepancy might be that the billionaires from Taiwan and Hong Kong are heavily invested in other countries like China, the US and the European Union.

Another way to look at this would be to look at economies roughly the same size as Bangladesh. This is where things get more interesting. Among the 71 countries with at least one billionaire, 31 had a smaller economy than that of Bangladesh. For example, seven billionaires hailed from Chile, an economy roughly 78% of the size of Bangladesh. On the other hand, Cyprus had four (04) billionaires despite having an economy one-fifteenth the size of Bangladesh.

In fact, Bangladesh has roughly similar or larger GDP than all of the following countries (number of billionaires in parenthesis): Columbia (03), Czech Republic (08), Egypt (06), Kazakhstan (04), Lebanon (06), Denmark (08), Vietnam (07), Ukraine (07), Monaco (03), Philippines (20), Hong Kong (67), Singapore (27) and Malaysia (12). Hence, the size of the economy cannot explain why Bangladesh has no billionaires.

One explanation might involve the business climate in each of these countries, measured in terms of trade freedom, monetary freedom, property rights, innovation and technology, red tape, tax burden etc. Some of the nations, as mentioned earlier, such as Singapore, Denmark and Hong Kong rank among the top 10 most business-friendly countries in the world, while Malaysia, Chile, Cyprus and the Czech Republic rank much higher (among the top 40) on this list.

Even Kazakhstan, Columbia and the Philippines rank higher than Bangladesh, which currently sits at the 109th position on this list. Hence, the investment climate in a country can play a major role in determining wealth accumulation.

That being said, the business climate in Kazakhstan, Columbia, the Philippines and even India remains far from satisfactory, and their rankings often seem at odds with the number of billionaires in the respective countries. For example, the Philippines, Ukraine and Vietnam respectively ranked 79th, 77th and 84th in business climate, while India - an economy with 166 billionaires, ranked 73rd. Lebanon is ranked 92nd while Egypt is ranked at the 95th position, a few ranks above Bangladesh.

To solve this final piece of the puzzle, we may look into the nature of markets in these countries. Countries that allow corporate consolidations are also likely to have more billionaires than countries that don't. Going back to the case of Chile, Horst Paulmann's Cencosud and the international chain Walmart have created an oligopoly in the Chilean market and have been fined several times by the regulatory authorities. Despite that, they hold too much power in these markets, allowing Cenkosud's owner to accumulate obscene amounts of wealth.

Similarly in India, the likes of Mukhesh Ambani and his Reliance have nearly unchallenged control over the energy markets and also considerable influence over the ruling party leaders. Poor institutions and a lack of accountability have also led to the concentration of wealth in these countries.

This is where we need to discuss the privatisation of natural monopolies like oil, airlines, railways, energy and other natural resources. For example, Three (03) of Chile's seven billionaires, including Iris Fontbona - the wealthiest person in Chile - are involved in the mining industry. In the case of Cyprus, two of their billionaires are involved in the business of oil tankers and another in the private airline industry.

In the case of Bangladesh, public services like railways, airlines, and natural resources are typically owned by state-owned enterprises and thereby, the government. Hence, there is no opportunity for private individuals to get obscenely wealthy by hoarding these precious resources.

Finally, one may also look into the innovation and adoption of technology in manufacturing. As an indicator, we can consider the exports of medium and high-tech exports (% of manufactured exports). Of Bangladesh's manufactured exports, only 2% are medium and high tech exports. Compare that with Lebanon, Kazakhstan, Egypt, Ukraine or even Vietnam, where at least 30% of manufactured exports are high value-adding technological exports.

Another reason for a country having billionaires has nothing to do with its GDP or its policies. Since Forbes only registers the nationality of a billionaire - and not the primary source or region of his earnings - it is possible for a person never to have earned a penny in their own country but be registered as a billionaire.

For example, Jean Salata, despite being a Chilean citizen, has been living and working in Hong Kong since 1989, where he chairs Baring Private Equity Asia. Similarly, many of India's billionaires also do not primarily operate in India. That being said, it is worth looking into why Bangladeshi are unable to occupy CEO positions in foreign companies while Indians are getting ahead.

In conclusion, there might be several factors for Bangladesh not having a billionaire. On the one hand, it might be true that Bangladesh does have billionaires, but their incomes are not reported. It might also be true that the poor investment climate, increased tax and tariff burden and slow adoption of technology play a crucial role here. On the other hand, it may be because Bangladesh is yet to privatise its state-owned natural monopolies.


The name of the article should have been "The most creative excuses one can come up with for not having a Bangladeshi Billionaire".

But I thought Bangladesh was full of obscenely rich folks who drive around in supercars after paying 80,000% taxes @Bilal9?

This is why millions of Indians died during Covid and are toilet-less.

Whilst only a few thousand died in Bangladesh.

Bangladesh, being a Muslim country, is naturally more equal than caste ridden hell that is Hindustan.

Also read this article that explains the Hindu growth model.

 

Maira La

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mmr

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Does Bangladesh Govt have its SOX 404 equivalent?


Their country is cursed with an incompetent diaspora, they are going to learn its consequences eventually
No they don't. Bd need to hire sox consultants to formulate policies and then force listed companies to comply. Honestly i dont think it will ever happen in bangladesh.

Brand Bangladesh is worse than war torn Iraq

View attachment 857294

Brand India is Between Brazil and South Africa

GLOBAL SOFT POWER INDEX
Yes but in order to solve a problem u need to acknowledge it first. Have u seen amount of personal attack i face here for pointing out the reality lol.
 

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