Skip to comments.Forbes 400 Richest Americans- Almost all of America's wealthiest citizens are poorer this year.
Posted on 10/01/2009 1:56:44 AM PDT by dennisw
America's super rich are getting poorer. For only the fifth time since 1982, the collective net worth of The Forbes 400 our annual tally of the nation's richest people has declined, falling $300 billion in the past 12 months from $1.57 trillion to $1.27 trillion.
Faltering capital markets and real estate prices, along with divorce and fraud, pushed the fortunes of 314 members down and drove 32 plutocrats off the rankings.
Hurt the most: Warren Buffett, America's second-richest citizen. The Oracle of Omaha dropped $10 billion from his personal balance sheet as shares of Berkshire Hathaway fell 20% in 12 months. He is now worth $40 billion.
Beating out Buffett for the 16th straight year as America's richest man is Microsoft co-founder Bill Gates. Sluggish Microsoft shares and declining outside investments pushed the software visionary's net worth down $7 billion in 12 months.
Rounding out the top 10 on The Forbes 400: Oracle founder Larry Ellison ($27 billion); Wal-Mart heirs Christy Walton ($21.5 billion), Jim C. Walton ($19.6 billion), Alice Walton ($19.3 billion), and S. Robson Walton ($19 billion); media maven Michael Bloomberg ($17.5 billion) and energy titans Charles and David Koch ($16 billion each).
The 10 richest Americans lost a combined $39.2 billion in the past 12 months, a 14% decline.
Other big losers include casino mogul Kirk Kerkorian, whose nest egg shed $8.2 billion in the past year. Shares of his gambling giant MGM Mirage have fallen 90% from their October 2007 high.
(Excerpt) Read more at finance.yahoo.com ...
Here's a quick quiz for any movie stars listening in. You sign a film deal for $20M. After the govt skims its 98% what do you have left? And the answer is.....(?)
(Answer: you move to the Caymen Islands)
Or the Bahamas ,, Eddie Murphy owns a small islet across from the Atlantis complex , Oprah is there ,, so is Michael Jordan and don’t forget Bill Gates or Sean Connery... Bahamian banking regulations equal the Caymens.
Everyone will keep hoarding money till there are tax cuts for the rich, Odumba’s Keynesian Tax Cheat Geithner is going to keep trying to substitute liquidity
Hey didn't one of the Koch brothers sue Charles and Divid claiming he had been cheated in a deal where he sold his shares in the company to his brothers? Pretty nasty fight too if I remember correctly.
“Wal-Mart heirs Christy Walton ($21.5 billion), Jim C. Walton ($19.6 billion), Alice Walton ($19.3 billion), and S. Robson Walton ($19 billion); “
One of their brothers died in an accident a few years back in California, didn't he?
“media maven Michael Bloomberg ($17.5 billion)”
Even more money for this clown to use in his insane anti-gun campaign.
Good news is, he has pledged to give most of his money to charity, just like Gates. Gonna depend on what he means by “charity” though.
most of them supported Obama , how is that working out?
Isn’t that what Socialism is all about? The rich getting poorer and the poor getting poorer
In Europe, they're already seeing a mass migration of not just the rich but a talent exodus of the young creative, educated class as well. If Obama and his marxist comrades are successful in implementing their socialist/fascist plans then we very well may see the same thing occur here in the U.S. Already, here in the U.S. the top 1% earners pay 40% of taxes, top 5% pay 70%, top 50% pay 99%, most of bottom 50% pay negative taxes (get back more than they pay in)by receiving the earned income tax credit (as much as $5,800, and additionally child tax credit $1,000 per). So, Obama very well may “kill the geese who lays the golden eggs” I think.
The Koches are always involved in a hubbub...latest was one of them having a messy divorce from a Swedish gold digger who claims to be royalty
Michael Bloomberg was in the 5 billion dollar range in 2000
He did great during the GW Bush years
Dang! What a waste to die young and still be a multi-billionaire. Think of all the fun you can have....
Also fun making charitable donations to causes you favor
Also enough money to sire a few more children if your original ones were duds
With a nice new wife or mistress
Just who do the libs think provide the jobs? The homeless guy down the street? I'm so tired of their stupidity.
Swedish ‘countess’ in bitter US divorce trial
Sorry.... not a Koch brother.
Was another rich dude
What happened to George Soros?