This 81-year-old man is known to make money from money. This is the reason why investors around the world do not miss billions of rupees on their advice. The name of this man is Joseph Marcius, who currently owns wealth worth approximately 48 lakh crores ($ 740 billion). Thus, Mobius manages many riches from India’s richest person, Mukesh Ambani. Now this man is going to retire.
Mukesh Ambani gets 19 times wealth
Mark Mobius is the executive chairman of World’s leading fund manager Franklin Templeton Investments. Investors worldwide believe in them, who manage their wealth of Rs 48 lakh crores. Comparison with India’s richest person, Mukesh Ambani, then manage nearly 19 times of wealth from the total personal wealth. According to the Bloomberg Billionaire Index, Mukesh Ambani’s Personal Wealth is currently worth 2.6 lakh crores ($ 40 billion).
Is called market guru
That’s why Mobius is also called Market Guru, who is considered to be the world’s most trusted person in Africa, Asia, Eastern Europe and Latin America to find earning opportunities. They are also known by the names of the Pied Piper of Emerging Markets (Glorious Emerging Markets), Globetrotters (Viswaitri) etc.
The company has recently announced the 80-year-old man to retire this month i.e. 31st January.
250 days travel into the plane
He worked as fund manager for 30 years. The American investors had so much confidence in them that the first Emerging Market Equity Fund was created for them. The long-term base of this fund was Singapore and Mobius used to travel 250 miles per year to travel with his Gulfstream-4 private jet. He visited factories throughout the year and used to meet remote distributors to identify investment possibilities.
In a statement, Templeton CEO and CEO Greg Johnson said, “If there is talk of emerging market investment then no one in the world can replace Mobius.”
Many of Mobius’s prophecies proved true
Mobius did many such predictions, which proved to be true. He predicted the beginning of the bull market in 2009. In 1998, he made a lot of purchases in heavy selling times in Russia. He was one of the first Institutional Investors, who identified Africa as a trusted market and established the Templeton Africa Fund in 2012. He wrote in a book, “I bought stocks of companies that had good prospects for growth over a period of 5 years.”
Born in New York, Mobius’s father was German and mother of Puerto Rico. In 1955 he studied at the University of Boston with the help of scholarship and played piano in the nightclub to raise tuition funds. He also worked as a political consultant. He first went to Hong Kong in 1967 and started the research business there.
Prior to joining Templeton, he also worked as a director in Britain’s stock brokerage firm Vickers, Da Costa. In 1983, became the President of the Mega International Investment Trust in Taiwan. At the age of 50, he got an offer from John Templeton and after that he went ahead.