Oct
01
2009
The Rich Not Quite So Rich At the Moment
© Domain Barnyard
A recent Forbes article points out that America's richest people have become a little less rich as a result of the recession. VentureBeat took a look at the numbers…
Warren Buffett's wealth took a dive this past year, losing $10 billion in value on his shares in Berkshire Hathaway. At least he's not alone. More than three-quarters of Forbes's annual list of the 400 richest Americans lost wealth in the past year.
Included in those who lost money: Bill Gates and members of Wal-Mart's Walton family.
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By Dape, October 27, 2009 @ 2:29 am
When the markets are hit by overconfidence in the banking system its not surprising that the value of shares drop. The Rich Not Quite So Rich At the Moment – is surely a Paradox – it depends which market we are considering.