World’s Richest Worth $1 Trillion on Billionaire List
By Alexander Cuadros and Devon Pendleton / Businessweek
The 40 richest individuals on Earth lost a combined $6.2 billion yesterday as stocks dropped amid disappointing U.S. earnings, according to the Bloomberg Billionaires Index, a daily ranking of the wealthiest people.
Saudi Prince Alwaleed bin Talal joined the index, which doubled the number of billionaires it tracks yesterday. Alwaleed’s fortune has increased 18.2 percent, or $3.2 billion, this year, as shares of his Kingdom Holding Co. (KINGDOM), a diversified investment group that is planning to build the world’s tallest tower, rose 36 percent. The 57-year-old ranks 24th on the index with a net worth of $20.5 billion.
“There is no secret to success,†Alwaleed said in an e- mail sent from Saudi Arabia. “It is based on a sound investment strategy, commitment and long-term vision.â€
The Bloomberg Billionaires Index takes measure of the world’s wealthiest people based on market and economic changes and Bloomberg News reporting. Each net worth figure is updated every business day at 5:30 p.m. in New York. The valuations are listed in U.S. dollars….. Read More
………………………
Look at it again…. that’s the top 40 in the world and they are only worth $1 trillion. Now for sake of argument lets assume they are all American citizens. If you tax them 100% on their income, capital gains income and all their assets it’s still not enough to cover our debt and pay it down. How much are all the other millionaires and billionaires in the world worth? Maybe another trillion? Heck lets say $2 trillion.. that’s $3 trillion held by the rich around the entire world. Again if they were all Americans and you tax them 100% it’s still not enough! Furthermore the majority of them who run businesses and invest will just pull the plug on everything and live off the money vs being taxed to death to fund entitlements and out of control spending!
Are you paying attention progressives? Your dreams to tax the rich, attack the rich won’t put a dent in our debt. The debt YOU helped accumulate has to be cut. Taxing will not solve anything.
If I was one of the rich and heard all this class warfare, attack and tax the rich guess what? I’d close business and sell off all my investments so you can’t get your disgusting grubby hands on my money. IT’S MY MONEY I EARNED IT you don’t deserve a cent nor do any of your entitlement zombie drones!
As for all the big evil banks and corporations it’s more than likely the same scenario. If you take every penny from them it’s still not enough. There isn’t enough money in the world to cover the debt of the US let alone other nations.
TAXING is not the answer to solve the US’s debt problem. Cutting spending and being a producer nation, the hub of manufacturing like we use to be in the early 20th century is the only way. Instead DC through taxes and regulations has pushed businesss and investments overseas where China, a communist nation, has become the hub for manufacturing!