WEALTH IN AMERICA AND THOSE IN THE LEAD.

 

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Wealth in America and those in the lead.

Current info about Wealth-creation is not always the easiest thing to locate. Fortunately, this report includes the latest Wealth-creation info available.

AP
More Than $1B Needed to Make Forbes List
Friday September 21, 12:47 am ET
By Jackie Farwell, AP Business Writer 
Forbes List of 400 Richest Americans Show They Needed More Than $1 Billion to Make the Cut

NEW YORK (AP) -- A billion dollars just doesn't go as far as it used to. For the first time, it takes more than $1 billion to earn a spot on Forbes magazine's list of the 400 richest Americans. The minimum net worth for inclusion in this year's rankings released Thursday was $1.3 billion, up $300 million from last year.
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The new threshold meant 82 of America's billionaires didn't make the cut.

Collectively, the people who made the rankings released Thursday are worth $1.54 trillion, compared with $1.25 trillion last year.

The very top of the list was unchanged: Microsoft Corp. founder Bill Gates led the list for the 14th straight year, this time with a net worth estimated at $59 billion. He was followed by Warren Buffett of Berkshire Hathaway Inc. in second place with an estimated $52 billion and casino mogul Sheldon Adelson, No. 3 with an estimated worth of $28 billion.

Larry Ellison of Oracle Corp. maintained his ranking at No. 4, with an estimated net worth of $26 billion.

But the list showed some notable changes.

Joining the top 10 of the country's richest for the first time were Google Inc. founders Sergey Brin and Larry Page, who tied for fifth place. The 34-year-old moguls' wealth has quadrupled since 2004 to an estimated $18.5 billion this year, while their company's stock value has surged 500 percent.

And, lower down, almost half of the 45 newcomers made their millions in hedge funds and private equity investments. The youngest member of this year's list was 33-year-old hedge fund manager John Arnold, who joined the ranks at No. 317 and a net worth of $1.5 billion.

If you find yourself confused by what you've read to this point, don't despair. Everything should be crystal clear by the time you finish.

"Wall Street really led the charge this year," said Matthew Miller, editor of the Forbes list. "God only knows if they'll be on it next year. It really just depends on what the market does."

Surging oil prices also helped some members of the list. Oil baron brothers Charles and David Koch also broke into the top 10, sharing the No. 9 spot with estimated wealth of $17 billion. Their ascension bumped the Walton family, heirs to the Wal-Mart Stores Inc. fortune, from the top 10 for the first time since 1989.

The discount retailer, struggling with a slowing economy and higher gasoline prices as well as merchandising mishaps, has seen its sales lag behind rivals like Target Corp.

Climbing 19 rungs to No. 7 was casino tycoon Kirk Kerkorian, who doubled his net worth to an estimated $18 billion. The 90-year-old investor is a majority shareholder in MGM Mirage -- operator of the MGM Grand, Bellagio and other casinos -- which saw record profits at several of its Las Vegas hotel-casinos.

Rounding out the top 10 was Michael Dell of computer maker Dell Inc., who was No. 8 with an estimated $17.2 billion.

The magazine confirmed the worth of an individual's holdings in public companies by using the Aug. 31 closing stock price, and estimated the value of private companies by evaluating comparable public firms in the industry. The list also takes into account philanthropic donations.

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That's how things stand right now. Keep in mind that any subject can change over time, so be sure you keep up with the latest news.

U P D A T E

 PRLog Free Press Release 

 Dr. Raymond Jewell Asks the Question, "Have You Lost Money in the Last 10 Years?"
Dr. Jewell, the famed senior economist, is known for his direct response to the financial institutions of this country. In his radio show Financial Freedom Radio, he hits the mark on wealth creation, wealth recovery and money how to resolves.
 
FOR IMMEDIATE RELEASE

PRLog (Press Release) – Apr 20, 2009 – The upcoming Money Teleseminars, scheduled for May 2, 2009 @ 10 AM EST, will be seen as the answer to the problems of the economic downtrends that all Americans are facing with the present administration.  Dr. Jewell will speak directly to the financial institutions that govern business and economy, and will tell the truth about wealth recovery, and wealth creation in this current economy.

The MoneyTeleseminars.com site will inform Google readers in money how to issues that everyone currently faces.  Dr. Jewell knows that education in the area of finances is the key to growth and sustained success for the long term.  Often people do not realize their potential with money.  Many are feeling the debt and home mortgage crunch, due to a large degree of the major financial institutions of this country.  Its time that the truth be told, and Dr. Jewell will tell the listeners of the MoneyTeleseminars.com of the endless possibilities of wealth creation and wealth recovery as well.

It will be necessary to go to this site and register:  http://moneyteleseminars.com/

Mark the calendars once again for the May 2, 2009 symposium that is available to people around the globe right from the comfort and privacy of home or office.

Make plans to attend the MoneyTeleseminars.com symposium, and tune into the Friday Morning Radio show found here:  http://financialfreedomradio.info/
# # #

Statistics show that most people are losing between 10%-20% or more of their gross income or revenue to financial inefficiencies and they don’t know it. If you would like to recover these lost dollars.

# # # + Share This Article   

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Issued By  : Dr. Raymond Jewell-Senior Economist
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Country  : United States
Categories  : Business, Finance
Tags  : have you lost money in the last ten years, Money, finances, money talks, wealth creation, dr raymond jewell
Last Updated  : Apr 20, 2009
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