By Peter W. Bernstein, Annalyn Swan
From Wall highway to the West Coast, from blue-collar billionaires to blue-blood fortunes, from the Google men to hedge-fund honchos, all of the funds on this planet supplies us the lowdown on this present day richest american citizens. Veteran reporters Peter W. Bernstein and Annalyn Swan delve into who made and misplaced the main funds long ago twenty-five years, the fields and industries that experience produced the best wealth, the largest hazard takers, the main aggressive avid gamers, the main wasteful kinfolk feuds, the trophy other halves, the main conspicuous shoppers, the most important artwork creditors, and the main and least beneficiant philanthropists. Incorporating specific, never-before-published facts from Forbes journal, the entire funds on this planet is a tremendously pleasing, behind-the-scenes examine brand new enormous wealthy.
Read or Download All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes (Vintage) PDF
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Extra info for All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes (Vintage)
The Vegas Old Guard said it would never work. But it did. How long it takes to make a billionâ ¦ It took casino mogul Sheldon Adelson eleven years (counting from when he moved to Las Vegas and started taking bets) to make his first billion, almost four times as long as it took Amazonâ s Jeff Bezos. Â â ¦and what can happen next In the two years after Sheldon Adelson took his Las Vegas Sands public, he got rich faster than anyone else in history, according to Forbesâ making just under $1 million an hour.
MNC executives were pessimistic. But Lerner turned them around. He took them into a conference room and announced: â We are not going to fail. â Lerner called federal regulatorsâ bluff by threatening to declare bankruptcy unless they freed up MBNA for public sale. He even drafted a press release that declared MNC bankrupt to push his point. When regulators backed off, Lerner sold MBNA to the public. And in order to persuade prestigious investment bank Goldman Sachs to lead the deal, he personally bought $100 million worth of shares.
Jon Huntsman, whom TV talk-show host Larry King once described as â the most remarkable billionaire most of America has never heard of,â is one such master risk taker. By his late thirties Huntsman was a multimillionaire, having gone for broke with a $300,000 loan to start the Huntsman Container Corporation in 33 34 the early 1970s with his brother. Both brothers mortgaged their homes and assets for the loan. Over the following years the brothers diversified into the chemical industry and saw their company bought by a string of firms that finally netted Huntsman $8 million.
All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes (Vintage) by Peter W. Bernstein, Annalyn Swan
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