Read e-book online All the Money in the World: How the Forbes 400 Make--and PDF
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, the entire funds on the earth provides us the lowdown on at the present time richest americans. Veteran reporters Peter W. Bernstein and Annalyn Swan delve into who made and misplaced the main funds some time past twenty-five years, the fields and industries that experience produced the best wealth, the most important hazard takers, the main aggressive avid gamers, the main wasteful relatives feuds, the trophy better halves, the main conspicuous shoppers, the largest artwork creditors, and the main and least beneficiant philanthropists. Incorporating specific, never-before-published info from Forbes journal, all of the cash on the earth is a enormously exciting, behind-the-scenes examine modern day huge wealthy.
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Additional resources for All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes (Vintage)
I donâ t give myself credit for having a golden touch as much as I do for my hard work and understanding of the marketplace. â 1984 from the pages of Forbes Carl Landegger, heir to pulp and paper mills, is an avid amateur archaeologist; he discovered several pre-Columbian cities, along with a sixteenth-century galleon, the earliest New World salvage vessel on record. (1984 net worth: $150 million) Philip Knight, CEO of Nike, is a dedicated runner himself, with a four-minute thirteen-second mile.
If only real-estate and health-care mogul Abraham D. Gosman had been so lucky. During the mid-1990s Gosman had all the trappings of wealthâ a plane, a yacht, a multimillion-dollar art collection, and a seven-acre oceanfront property in Palm Beach called Maison de lâ Amitie that had once been owned by the Post family. Forbes valued his net worth at almost $500 million. But overbuilding and government Medicare cutbacks in the late 1990s drove his businessesâ Meditrust, PhyMatrix, and CareMatrixâ deep into debt.
As such, it is a new battleground for the gaming industry. Octogenarian Chinese billionaire Stanley Ho monopolized the Macau gaming industry for decades. But in 2002 Macau authorities ended his reign, opening up licenses to outside competitors. Adelson was first through the gates, with his Vegas rival and fellow Forbes 400 member Steve Wynn, owner of the Wynn Las Vegas, not far behind. While other investors hemmed and hawed over gaming regulations, Adelson threw himself into the fray. He gambled $265 million on the Sands Macau, a casino-only venture that was built in just fourteen months.