Billionaires Suffering- One Third Fewer Than Last Year

zippyjuan · 03-11-2009, 07:37 PM

Most have lost a full quarter of their wealth!

http://www.forbes.com/forbes/2009/03...ire-intro.html

Quote:

Billionaire Bust: Who's Survived the Crash? Who's Getting Clobbered?
03.11.09, 06:00 PM EDT
Forbes Magazine dated March 30, 2009

The richest people in the world have gotten poorer, just like the rest of us. This year the world's billionaires have an average net worth of $3 billion, down 23% in 12 months. The world has 793, down from 1,125 a year ago.

After slipping in recent years, the U.S. is regaining its dominance as a repository of wealth. Americans account for 44% of the money and 45% of the list's slots, up seven and three percentage points from last year, respectively. Bill Gates lost $18 billion but regained his title as the world's richest man. Warren Buffett, last year's No. 1, saw his fortune decline $25 billion as shares of Berkshire Hathaway fell nearly 50% in 12 months. Mexican telecom titan Carlos Slim Helu maintains his spot in the top three but lost $25 billion.

While 656 moguls lost money in the past year, 44 added to their fortunes. Those who made money did so by catering to budget-conscious consumers (discount retailer Uniqlo's Tadashi Yanai), predicting the crash (investor John Paulson) or cashing out in the nick of time (Cirque du Soleil's Guy Laliberte). Another 38 joined our rankings for the first time, and three former billionaires returned to the list.

DarkFury · 03-11-2009, 09:50 PM

I lost about 65% of my retirement fund...

But I still bet that those Billionaires aren't really "struggling" to buy necessities (but maybe, they had to cut out a few extravagant items here an there...)

Hopefully if the market ever recovers, my retirment fund will grow again and the stocks that most of those Billionaires own will prosper as well.

BTW.. I'd trade positions with them if they'd like. If I had a billion and today I'm left with 750 million, well... geez, I guess I'd be still doin' pretty OK wouldn't I?

03-11-2009, 09:50 PM	#2
DarkFury Secretary of the Navy Join Date: Feb 2001 Location: Chillin' N Da 'Hood Posts: 34,997	I lost about 65% of my retirement fund... But I still bet that those Billionaires aren't really "struggling" to buy necessities (but maybe, they had to cut out a few extravagant items here an there...) Hopefully if the market ever recovers, my retirment fund will grow again and the stocks that most of those Billionaires own will prosper as well. BTW.. I'd trade positions with them if they'd like. If I had a billion and today I'm left with 750 million, well... geez, I guess I'd be still doin' pretty OK wouldn't I? __________________ DarkFury's Pimptopia - Don't Hate the Playa, Hate the Game! Home of the Original OG Pimp (accept NO imitations)

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