Bloviating Zeppelin: Forbes 400

Bloviating Zeppelin

(in-ep-toc'-ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.

Friday, September 28, 2007

Forbes 400

Forbes magazine has released its annual top 400 richest persons in America, with its 25th anniversary issue.

Malcolm Stevenson Forbes (1917 to 1990) brought Forbes magazine into the forefront of business journals and his son, Malcolm Stevenson ("Steve") Forbes Jr. (1947 - ) is current President, CEO and EIC of Forbes. Steve Forbes ran for President on the GOP side in 1996 and 2000.

I subscribe to Forbes, not because I'm any kind of investment hound (I can barely balance my own checkbook, much less my future retirement; numbers and finances stun me blind) but because it's a good source of information and insight.

The "Top Ten" in the 2007 Forbes 400 (all estimates, according to the magazine, are conservative):

1. William H. Gates III

Worth: $59 billion

Age: 51; married, 3 children

Runs: Microsoft, Medina, WA

2. Warren Buffett

Worth: $52 billion

Age: 77; widowed, remarried, 3 children

Runs: Brookshire Hathaway, Omaha, NB

3. Sheldon Adelson

Worth: $28 billion

Age: 74; divorced, remarried, 5 children

Runs: Casinos, Las Vegas, NV

4. Lawrence Ellison

Worth: $26 billion

Age: 63; thrice divorced, remarried, 2 children

Runs: Oracle, Redwood City, CA

5. Sergey Brin

Worth: $18.5 billion

Age: 34; married

Runs: Google, Palo Alto, CA

6. Larry Page

Worth: $18.5 billion

Age: 34; single

Runs: Google, San Francisco, CA

7. Kirk Kerkorian

Worth: $18 billion

Age: 90; thrice divorced, 2 children

Runs: Casinos, Investments, Las Vegas, NV & L.A., CA

8. Michael Dell

Worth: $17.2 billion

Age: 42; married, 4 children

Runs: Dell, Austin, TX

9. Charles Koch

Worth: $17 billion

Age: 71; married, 2 children

Runs: Oil, commodities, Wichita, KS

10. David Koch

Worth: $17 billion

Age: 67; married, 3 children
Runs: Oil, commodities, NYC, NY

Some general statistics:

Oldest member of Forbes 400: John Simplot, 98

Youngest member of Forbes 400: John Arnold, 33

Members of Forbes 400 who are self-made: 270

Members of Forbes 400 who inherited their entire fortune: 74

Members of Forbes 400 who inherited a part of their fortune: 56

Greatest source of wealth, Forbes 400, 2007: investments

Greatest source of wealth, Forbes 400, 1982: oil

How Fast They Make $1,000:

Kirk Kerkorian: 3.5 seconds

David Geffen: 22.5 seconds

Oprah Winfrey: 31.5 seconds

Ralph Lauren: 39.5 seconds

Bill Gates Makes:

$16.4 million a day

$685,000 an hour

$11,400 a minute

$190 a second

Cost of Living Luxuriant:

Face Lift, 2006: $14,500

Face Lift, 2007: $17,000

Shoes, wingtip, John Lobb, London, 2006: $4,128

Shoes, wingtip, John Lobb, London, 2007: $4,566

Hatteras 80 Motor Yacht, 1,550hp Cat engine, 2006: $4,870,000

Hatteras 80 Motor Yacht, 1,550hp Cat engine, 2007: $5,118,000

Kinda puts you in your place, doesn't it?

11 Comments:

The WordSmith from Nantucket said...: I thought Bill Gates was more of a liberal. Am I wrong? What political party is he affiliated with?; Thu Sep 27, 09:22:00 PM PDT
Bushwack said...: THAT'S SO NOT FAIR!!!! These guys could end hunger, poverty and war with a swipe of their checkbook... I can't believe our government, they should take all their money and give it to everyone equally.....Liberal moment.

These guys were all probably the guys in school folks like me beat up,because they were "NerdY" or just plain annoying....

This list lets everyone know GOD has a sense of humor....Good one!

I have nothing but admiration and respect for ALL of the folks that have made money a non issue in their lives...Congratulations to all of them.; Thu Sep 27, 09:38:00 PM PDT
Bloviating Zeppelin said...: Wordsmith: I'm not entirely sure at all.

Bushwack: good point. I'm with you; we should just storm their houses and make them write checks for three days, emptying their accounts completely.

BZ; Fri Sep 28, 04:56:00 AM PDT
Bloviating Zeppelin said...: Actually, the estimates of their WEALTH are "conservative." :^)

BZ; Fri Sep 28, 04:58:00 AM PDT
Bloviating Zeppelin said...: Man, am I SLOW. :^)

BZ; Fri Sep 28, 05:11:00 AM PDT
Ranando said...: No Comment.; Fri Sep 28, 11:05:00 AM PDT
TexasFred said...: I see you found the pic of my new Bass Boat...; Fri Sep 28, 03:28:00 PM PDT
Bloviating Zeppelin said...: TF: yeah, how cool would that be?

BZ; Fri Sep 28, 03:38:00 PM PDT
bigwhitehat said...: I still have it made friend.; Fri Sep 28, 08:35:00 PM PDT
A Jacksonian said...: You mean Bill Gates has actually been able to spend money faster than he makes it? I knew that the Foundation he and his wife set up had gotten a chunk of cash... last I checked four years ago he was worth $67 Billion or so... and while a lot of that worth is MSFT stock, he still would be in that ballpark. Its almost like he is getting the Carnegie jitters and actually trying to leave something behind to remember him by, rather than the vicious business tactics he used.

And Mr. Gates did, indeed, quit Harvard along with Bill Allen. Coupla dropouts that formed a little company in Arizona... lots of pizza, midnight coding sessions, and a DWI for Bill back in the late '70s. They actually had to *buy* DOS from a Seattle firm, so they could have *something* to show IBM when they came by for a visit looking for someone to partner with on their new 'Project Chess' in Florida. There were better coders that did actually make some money, enough to want to go out flying the day of the appointment (Gary Kildall), a company that put the IBM execs into plastic trays and put them through the production line (Atari), and major chip manufacturer that wanted IBM to change the entire architecture before they would work with them (Motorola). Then there was geeky Mr. Gates who showed up on time, treated IBM with respect, showed how he could work with them, and just wanted to sell DOS to others, too.... the rest, as they say, is history. Without him we would *still* be stuck with IBM. He deserves each and every cent just for that *alone*.; Sun Sep 30, 04:36:00 PM PDT
Anonymous said...: um, Oprah does think that she is ending hunger, poverty and war with a swipe of her checkbook. i flipped thru her magazine one day..she looks rather darkskinned doesnt she??? well, there was not one of those dark skinned persons in her magazine only the whitish ones....now, how could that be???; Fri Oct 05, 04:29:00 PM PDT

This Page

Bloviating Zeppelin

Friday, September 28, 2007

Forbes 400

11 Comments:

Bloviating Zeppelin

About Me

Previous Posts