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Old 03-12-2009, 07:38 PM   #1
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Default Billionaires LOL

New list of World's Billionaires

http://finance.yahoo.com/banking-bud...lionaires-2009

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It's been a tough year for the richest people in the world. Last year there were 1,125 billionaires. This year there are just 793 people rich enough to make our list.

The world has become a wealth wasteland.

Like the rest of us, the richest people in the world have endured a financial disaster over the past year. Today there are 793 people on our list of the World's Billionaires, a 30% decline from a year ago.

Of the 1,125 billionaires who made last year's ranking, 373 fell off the list--355 from declining fortunes and 18 who died. There are 38 newcomers, plus three moguls who returned to the list after regaining their 10-figure fortunes. It is the first time since 2003 that the world has had a net loss in the number of billionaires.

The world's richest are also a lot poorer. Their collective net worth is $2.4 trillion, down $2 trillion from a year ago. Their average net worth fell 23% to $3 billion. The last time the average was that low was in 2003.

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 (BRK) fell nearly 50% in 12 months, but he still managed to slip just one spot to No. 2. Mexican telecom titan Carlos Slim Helú also lost $25 billion and dropped one spot to No. 3.

It was hard to avoid the carnage, whether you were in stocks, commodities, real estate or technology. Even people running profitable businesses were hammered by frozen credit markets, weak consumer spending or declining currencies.

The biggest loser in the world this year, by dollars, was last year's biggest gainer. India's Anil Ambani lost $32 billion--76% of his fortune--as shares of his Reliance Communications, Reliance Power and Reliance Capital all collapsed.

Ambani is one of 24 Indian billionaires, all but one of whom are poorer than a year ago. Another 29 Indians lost their billionaire status entirely as India's stock market tumbled 44% in the past year and the Indian rupee depreciated 18% against the dollar. It is no longer the top spot in Asia for billionaires, ceding that title to China, which has 28.

Russia became the epicenter of the world's commodities bust, dropping 55 billionaires--two-thirds of its 2008 crop. Among them: Dmitry Pumpyansky, an industrialist from the resource-rich Ural mountain region, who lost $5 billion as shares of his pipe producer, TMK, sank 84%. Also gone is Vasily Anisimov, father of Moscow's Paris Hilton, Anna Anisimova, who lost $3.2 billion as the value of his Metalloinvest Holding, one of Russia's largest ore mining and processing firms, fell along with his real estate holdings.

Twelve months ago Moscow overtook New York as the billionaire capital of the world, with 74 tycoons to New York's 71. Today there are 27 in Moscow and 55 in New York.

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. Still, it has 110 fewer billionaires than a year ago.

Those with ties to Wall Street were particularly hard hit. Former head of AIG (AIG) Maurice (Hank) Greenberg saw his $1.9 billion fortune nearly wiped out after the insurance behemoth had to be bailed out by the U.S. government. Today Greenberg is worth less than $100 million. Former Citigroup (C) Chairman Sandy Weill also falls from the ranks.

Last year there were 39 American billionaire hedge fund managers; this year there are 28. Twelve American private equity tycoons dropped out of the billionaire ranks.
Blackstone Group's (BX) Stephen Schwarzman, who lost $4 billion, and Kohlberg Kravis & Roberts' Henry Kravis, who lost $2.5 billion, retain their billionaire status despite their weaker fortunes.

Worldwide, 80 of the 355 drop-offs from last year's list had fortunes derived from finance or investments.

While 656 billionaires 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).

So is there anywhere one can still make a fortune these days? The 38 newcomers offer a few clues. Among the more notable new billionaires are Mexican Joaquín Guzmán Loera, one of the biggest suppliers of cocaine to the U.S.; **** Chuanfu of China, whose BYD Co. began selling electric cars in December, and American John Paul Dejoria, who got the world clean with his Paul Mitchell shampoos and sloppy with his Patrón Tequila.
I love the last paragraph.

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Among the more notable new billionaires are Mexican Joaquín Guzmán Loera, one of the biggest suppliers of cocaine to the U.S.
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Old 03-12-2009, 07:56 PM   #2
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Why does everyone hate on billionaires? If they made their money honestly then WTF is the problem. This is America last I checked
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Old 03-12-2009, 08:05 PM   #3
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stop hating on billionaires, they pay for your government to operate...
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Old 03-12-2009, 08:50 PM   #4
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Originally Posted by msydnor View Post
Why does everyone hate on billionaires? If they made their money honestly then WTF is the problem. This is America last I checked
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Originally Posted by Braineack View Post
stop hating on billionaires, they pay for your government to operate...
While I lean pretty far to the left, I agree with both of these statements. Capitalism is not a bad thing, nor is profit.

I'm self employed and when I'm working I make a lot of money, when I'm not, I make nothing. It is a risk I have chosen and accepted.
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Old 03-13-2009, 01:14 AM   #5
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Originally Posted by msydnor View Post
Why does everyone hate on billionaires? If they made their money honestly then WTF is the problem. This is America last I checked
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stop hating on billionaires, they pay for your government to operate...



What the hell are you talking about?
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Old 03-13-2009, 01:22 AM   #6
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What the hell are you talking about?
I reaaally can't believe you're a Texan.
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Old 03-13-2009, 03:18 AM   #7
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Old 03-13-2009, 03:34 AM   #8
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Something's gone awry! The page you requested could not be found
Magna, you suck at the intarweb.
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Old 03-13-2009, 04:53 AM   #9
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i gues forbes doesnt wanna let me link not my fault
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Old 03-19-2009, 10:05 PM   #10
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woo hoo! Gates is numero uno once again
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Old 03-19-2009, 10:23 PM   #11
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Originally Posted by msydnor View Post
Why does everyone hate on billionaires? If they made their money honestly then WTF is the problem. This is America last I checked
Heh, none of those people made an honest buck. If you consider trampling and ruining people on the way up honest, then so be it. Truth of the matter is one has to do that in order to make it to the tip-top of the food chain.
Which brings me to this one thing that is bothering me.

If Madoff is released until his sentencing, I think I will give up all hope on the US. They should treat the guy like the Chinese did those execs that knew about that tainted milk...Executed. Then, if his wife doesn't give up the funds, execute her. I have no tolerance for these types of people anymore.

I bet the dude will commit suicide if he is allowed to go home, and the American people will NOT see justice done. He needs to become Paco's beeyotch after he makes little rocks out of big rocks during the day.
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Old 03-19-2009, 11:37 PM   #12
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Not one person in the world needs hundreds of thousands of dollars a year, let alone millions or billions. End of story. I dont care who the **** you are, you dont need money like that.
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Old 03-20-2009, 12:11 AM   #13
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Not one person in the world needs hundreds of thousands of dollars a year, let alone millions or billions. End of story. I dont care who the **** you are, you dont need money like that.
I need money like that
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Old 03-20-2009, 12:39 AM   #14
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Originally Posted by Vashthestampede View Post
Not one person in the world needs hundreds of thousands of dollars a year, let alone millions or billions. End of story. I dont care who the **** you are, you dont need money like that.
Don't knock it till you try it.
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Old 03-20-2009, 10:30 AM   #15
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Originally Posted by Vashthestampede View Post
Not one person in the world needs hundreds of thousands of dollars a year, let alone millions or billions. End of story. I dont care who the **** you are, you dont need money like that.

What about that lady that is suing her husband because $53,000 per month isn't enough to live off of. That is more money a month than the US national yearly salary of 40-something thousand. LOL, crazy stuffs.

That is a society that I just don't understand. I would love to try though!

I think back to the Titanic. My *** would have been in the 3rd class, and down at Davie Jones' Locker.
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Old 03-22-2009, 12:31 PM   #16
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Originally Posted by braineack View Post
stop hating on billionaires, they pay for your government to operate for their own exclusive private interests...
fixed

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Old 03-22-2009, 04:06 PM   #17
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