ALL the News about
Mormons, Mormonism
and the LDS Church
Mormon News: All the News about Mormons, Mormonism and the LDS Church
Posted 24 Feb 2001   For week ended June 18, 2000
Most Recent Week
Front Page
Local News
Arts & Entertainment
·New Products
·New Websites
·Mormon Stock Index
Letters to Editor
Continuing Coverage of:
Boston Temple
School Prayer
Julie on MTV
Robert Elmer Kleasen
About Mormon News
News by E-Mail
Weekly Summary
Submitting News
Submitting Press Releases
Volunteer Positions
Bad Link?

News about Mormons, Mormonism,
and the LDS Church
Sent on Mormon-News: 19Jun00

Summarized by Kent Larsen

Huntsman Dropped from Forbes List In Error
(Forbes magazine drops billionaire from list of most wealthy)
Canadian Broadcasting Corp (CP) 17Jun00 B2

SALT LAKE CITY, UTAH -- The latest issue of Forbes magazine ranks the world's 'working' billionaires,but wealthy LDS Church member Jon M. Huntsman, who actively manages his $3.9 billion portfolio of companies isn't on the list. Hi absence left some in business circles shocked, wondering if Huntsman had suffered a major reversal or given away most of his money.

Forbes magazine acknowledged last week that Huntsman was simply left off the list in error. "It was a total oversight. His name never should have been dropped," Forbes associate editor Kerry Dolan said. "It's really ruffled a few feathers around here."

Forbes looks at personal fortunes twice annually, once each Fall when it ranks the richest Americans, and again during the summer when it looks at the world's billionaires. Huntsman should have appeared on the list just after Iraqi President Saddam Hussein, who's fortune is estimated at $7 billion and fellow LDS Church member James L. Sorenson, who's fortune is estimated at $2.7 billion.

While Huntsman Corp. officials aren't worried about bragging rights, they say that the omission does cause problems, "This goes beyond ego. Once you get on there, people wonder what happened when you drop off," Olsen said. "We've had people calling seriously concerned." Huntsman never comments on his personal worth, and told the media when reached in California that his businesses have never been stronger.

The magazine says that the omission occurred because of a database glitch. It has apologized to Huntsman and says it will correct the error in its August issue.

Meanwile, The Huntsman Corporation announced that Peter Huntsman, the 37-year-old son of Jon Huntsman, will become the company's new Chief Executive Officer on July 1st. The second oldest of Huntsman's nine children, Peter joined the company 17 years ago after dropping out of the University of Utah. Jon M. Huntsman will continue to serve as chairman of the company while his first son, Jon M. Huntsman Jr., 40, serves as vice chairman.

The change was voted in a family meeting. The company said that further changes are on the way also. The change is part of a long-term plan to bring the Huntsman children into the business.

Peter Huntsman left his studies at the University of Utah 17 years ago to take a truck driving job with Huntsman Corp. He has risen through the ranks, most recently serving as chief operating officer and moving to Europe to oversee the company's acquisition of parts of Imperial Chemical Industries that Huntsman purchased in 1999.

The company also disclosed that it expects to make $10 billion to $11 billion in sales this year, up from $7 billion last year.

See also:

Huntsman Clan Elects Successor
Salt Lake Tribune 17Jun00
By Phil Sahm: Salt Lake Tribune


[an error occurred while processing this directive]

Copyright 1998, 1999, 2000, 2001 Kent Larsen · Privacy Information