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America's Richest Lose $300 Billion In A Year
Sky News ^ | 09/30/2009 | Sky News

Posted on 09/30/2009 7:48:58 PM PDT by Dallas59

merica's richest people are getting poorer, according to this year's Forbes 400 list.

The annual ranking of the 400 wealthiest US citizens shows their net worth has dropped by $300bn, from $1.57 trillion to a paltry $1.27 trillion.

That includes a loss of nearly $40bn for the top ten alone.

The decline can be attributed to the global economic crisis, which has affected the capital and housing markets, as well as fraud and divorce, causing 314 returning members to record a loss.

Warren Buffett, who remains at number two, was the worst affected by the world recession, losing $10bn over the last 12 months.

Chat-show host Oprah Winfrey was also hit badly, losing $400 million of her fortune.

(Excerpt) Read more at news.sky.com ...


TOPICS: Culture/Society
KEYWORDS: bhoeconomy; billionaires; millionaires; money; rich

1 posted on 09/30/2009 7:48:58 PM PDT by Dallas59
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To: Dallas59

Just think how much better they (and the rest of us) would have been if they had taken a portion of that loss and invested it to fight Obama instead of letting Liberal Millionaires use their money to support socialism.


2 posted on 09/30/2009 7:57:43 PM PDT by jongaltsr (Hope to See ya in Galt's Gulch.)
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To: Dallas59
Obama should be happy the gap between the richest and the poorest has shrunk.
3 posted on 09/30/2009 7:59:37 PM PDT by TexasFreeper2009 (Obama lied, the economy died)
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To: Dallas59

The left will see this as progress - the reality is that there will now be less money in the economy to use to create jobs - meaning, while the rich may be “poorer”, the poorer will sink to new lows of poverty. Ain’t it great this Socialism of the left?


4 posted on 09/30/2009 8:04:47 PM PDT by SoldierDad (Proud Dad of a U.S. Army Infantry Soldier whose wife is expecting twins SONS.)
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To: Dallas59

Poor guys. Some of them will go hungry.


5 posted on 09/30/2009 8:08:37 PM PDT by 353FMG
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To: Dallas59

And, unemployment will grow....as long as the rich lose money, they won’t be creating jobs!


6 posted on 09/30/2009 8:11:17 PM PDT by goodnesswins (Democrat party has always been the party of slavery, sedition, subversion, socialism and surrender)
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To: Dallas59

Hope and Change for the wealthy.


7 posted on 09/30/2009 8:24:19 PM PDT by Frantzie (Do we want ACORN running America's healthcare?)
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To: Dallas59

That’s only 20% of what taxpayers lost.


8 posted on 09/30/2009 8:25:37 PM PDT by dangus (I am JimThompson)
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To: SoldierDad

Agreed.


9 posted on 09/30/2009 8:32:33 PM PDT by WVRockDJ (Mountaineer by birth; USMC by choice; Christian by Grace.)
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To: 353FMG

And no champagne, either!;)


10 posted on 09/30/2009 8:45:34 PM PDT by Frank_2001
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