By Peter W. Bernstein, Annalyn Swan
From Wall road to the West Coast, from blue-collar billionaires to blue-blood fortunes, from the Google men to hedge-fund honchos, all of the cash on the earth provides us the lowdown on this day richest americans. Veteran newshounds Peter W. Bernstein and Annalyn Swan delve into who made and misplaced the main cash long ago twenty-five years, the fields and industries that experience produced the best wealth, the largest chance takers, the main aggressive gamers, the main wasteful family members feuds, the trophy better halves, the main conspicuous shoppers, the largest artwork creditors, and the main and least beneficiant philanthropists. Incorporating particular, never-before-published information from Forbes journal, all of the cash on this planet is a enormously interesting, behind-the-scenes examine ultra-modern giant wealthy.
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Additional info for All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes (Vintage)
This was 1963, and a lot of small computer and high-tech companies were being spun out of MIT. And like the dot-com guys later, they were all getting equity. â Not only that: When the equity offered proved too puny for Zuckermanâ s counterpart, he leftâ at which point Cabot offered Zuckerman the exiting construction managerâ s equity interest in addition to his own. Age and wealth The table shows the average net worth (in millions) of Forbes 400 members by different age cohorts. 1 billion). â I still canâ t believe it,â says Zuckerman.
As Forbes senior editor Alan Farnham put it in Forbes Great Success Stories: Twelve Tales of Victory Wrested from Defeat, recounting Trumpâ s near-death experience with debt, â In effect, money center banks like Citibank had to stand by Trump, because if they pulled the rug out from under him, they themselves stood to tumble. â And acting as his own Lee Iacocca, he argued that point persuasively. â Listen fellows,â Trump recalls saying, â if I have a problem, then you have a problem. â â Hundreds of millions of dollars of Trumpâ s debts were written off or put off for a later date.
A chance remark by one of his Harvard professors, however, gave him a new idea: â He told us that George Bernard Shaw was a clerk in a dry goods store and decided that he would go to London for three years and write plays, because if that didnâ t work out, he could always be a clerk in a dry goods store. â Zuckerman decided to give himself three years to try out one of his two passionsâ real estate and journalism. â I couldnâ t figure 48 49 out a way to get into journalism, but I knew that I could get a job somewhere in real estate,â he says.