"Forbes" ranks Shari Arison among greenest billionaires

She is "a firm believer that sustainability and profitability can go hand in hand."

"Forbes" includes Shari Arison in its list of ten greenest billionaires, who have combined business success with environmental awareness and investments.

"Forbes" quotes Yale University profession of environmental law Daniel Esty, and advisor to President Barack Obama's campaign on environmental issues, as saying that more than $200 billion globally will be invested this year in sustainable businesses, 40% more than in 2009.

Arison Investments Ltd. chairwoman Shari Arison, who has a net worth of $3.4 billion, is second on the "Forbes" list. "Forbes" describes her as a "firm believer that sustainability and profitability can go hand in hand," adding, "She recently published a memoir (Birth: When the Spiritual and the Material Come Together) in which she underscores her belief that businesses should benefit both the investor and the broader community."

"Forbes" adds, "Arison has created businesses that benefit the environment, but says her ultimate driver is her companies' bottom line. She plans to make her public construction company, Shikun u'Binui Holdings Ltd. (TASE: SKBN) (market cap $863 million), 100% sustainable - by using solar power, water desalination, and using recyclable materials - within five years. Meanwhile MIYA, the privately held venture she launched in 2007 to reduce leaks in underground water pipes, expanded its projects last year to Brazil, Manila and the Philippines. Arison invested $100 million in Miya."

First on the "Forbes" list is billionaire Sun Microsystems Inc. (Nasdaq: SUNW) founder and Kleiner Perkins Caufield & Byers partner Vinod Khosla. Together with fellow billionaire John Doerr, he has been investing millions of dollars in green-tech companies. "Forbes" estimates Khosla's net worth at $1.1 billion and Doerr's at $1.7 billion.

Since 2004, Khosla invests in sustainable building materials, solar power and advanced biofuel companies through his own venture capital fund, Khosla Ventures. Investments include Israeli biofuel company HCL Cleantech Ltd., fabless semiconductor start-up eASIC Corporation, and smartphone applications developer iSkoot Ltd.

The "Forbes" greenest billionaires list also includes Google (Nasdaq: GOOG) co-founders Larry Page and Sergey Brin, who have committed $100 million through Google's charitable foundation, Google.org.

Published by Globes [online], Israel business news - www.globes-online.com - on April 22, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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