Friday, October 09, 2009

THE SUPER RICH

"Castles in France. Islands in the Caribbean. Private jets. With a collective $1.27 trillion at their disposal, the members of The Forbes 400 could buy almost anything. How about a country? A quick glance at the CIA Fact Book suggests the individual fortunes of many Forbes 400 members are as big as some of the world's economies. Bill Gates, America's richest man with a net worth of $50 billion, has a personal balance sheet larger than the gross domestic product (GDP) of 140 countries, including Costa Rica, El Salvador, Bolivia and Uruguay. The Microsoft (MSFT) visionary's nest egg is just short of the GDP of Tanzania and Burma. Warren Buffett, who lost $10 billion in the past 12 months and is this year's Forbes 400 biggest dollar loser, still has a fortune the size of North Korea's economy at $40 billion." (Yahoo Finance, 2 October) RD

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