![]() ![]() Turns out it's not a foundation add $850 million for Ludwig. Then there was that Zurich foundation authoritatively reported years ago as the repository of much of the fortune of shipowner Daniel K. Andel, had to be upped about $1 billion apiece. So profitable that even with Japanese multiples depressed by the Tokyo stock market crash, the two low-profile owners of Amway, Richard DeVos and Jay Van. This year, for instance, we found out that the previously unstudied Japanese subsidiary of Amway is a hugely profitable money machine. Each year we turn up new fortunes and get a better line on some of the old ones. Last year's deflation of large fortunes took place against an upward bias built into the list by our continuing research into the fortunes of the very rich. (Among major categories, agriculture and oil were strong-thank you, Saddam Hussein.) This year all kinds of things went down: real estate, media, banks, public stocks, private companies, you name it. But despite these pockets of weakness, the overall list was generally rising. The beginnings of the real estate bust showed up last year, when the number of real estate fortunes dropped from 87 to 77. For example, the number of oil fortunes went down in the mid-1980s, and the fortunes in publicly traded stocks were hurt by the 1987 crash. Years past, isolated pockets might be weak, but most of the list, on balance, would rise. This reflected a general scaling down of capital values, brought about in good part by a worldwide shrinkage of credit and sinking stock markets. More significantly, the drops in The Forbes Four Hundred this year spread throughout the list.We found ourselves marking more of last year's estimated net worths down than up-172 down (including drop-offs), 157 up (the remainder were roughly unchanged).So there are actually 5 fewer billionaires this year.) (But 4 people on our list, in hindsight, were already billionaires last year: Our research hadn't quite caught up with them. We wound up with one less billionaire-66 vs. Eleven people-nearly 3% of the total-included here would have been rejects last year. For the first time ever, the minimum fortune required to get onto our list went down: Last year it took $275 million this year $260 million might do.There are subtle and not so subtle, changes that seem much more significant than the collapse of one more overreacher: As his bankers are learning to their dismay, his net worth may actually have dropped to zero.įor The Forbes Four Hundred as a whole, it takes a closer look. Trump is the most newsworthy loser, dropping right off FORBES' list of the richest Americans. This year the entire Forbes Four Hundred list seemed to stop going up and, on balance, start going down. It's not just the year Donald Trump's and some other overleveraged fortunes hit the wall. IN 1990 THE RICH have been getting poorer. Just as homeowners feel less wealthy than a year ago, so do most of the nation's rich. AN9010290977 frb22oct.90 2007Nov29.11:16 v2.2.460 The Forbes Four Hundred THE RICHEST PEOPLE IN AMERICA With the end of the great 1980s credit binge, capital values almost everywhere are being marked down. ![]()
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