BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Mittal buys $230 million London home]]>http://www.bloggingstocks.com/2008/05/23/mittal-buys-230-million-london-home/http://www.bloggingstocks.com/2008/05/23/mittal-buys-230-million-london-home/http://www.bloggingstocks.com/2008/05/23/mittal-buys-230-million-london-home/#commentsThe Times of London reports that Lakshmi Mittal, an Indian steel magnate, is purchasing a $230 million London home from U.S. hedge fund manager, Noam Gottesman.

Mittal is Britain's richest man who is spending about $16,000 a square foot for the detached residence on Palace Green, an extension of Kensington Palace Gardens, where several billionaires have their London homes. The $230 million price is 40% more than the previous record of $160 million for property in London's nearby Upper Phillimore Gardens.

Gottesman is fairly well off. His net worth has been estimated at $920 million. But if this sale goes through, he will be a billionaire.

Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter.

Mittal buys $230 million London home originally appeared on BloggingStocks on Fri, 23 May 2008 14:27:00 EST. Please see our terms for use of feeds.

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