World Recession not affecting the richest?

[davieG]

Forbes via the BBC - http://www.bbc.co.uk...siness-12691377

Mexico's Carlos Slim has topped the latest Forbes magazine rich list, as his wealth grew by more than a third.

The telecoms magnate's fortune rose by $20.5bn (£12.65bn) to $74bn, again beating Microsoft founder Bill Gates ($56bn) into second place.

More than 200 people joined the billionaires list as their numbers rose to a new record of 1,210, Forbes said.

Six billionaires connected with Facebook are now on the list, including Mark Zuckerberg and Sean Parker.

They are joined by Facebook investors Peter Thiel and Yuri Milner as well as co-founders Eduardo Saverin and Dustin Moskovitz, who is the youngest person on the list at 26.

Ikea founder Ingvar Kamprad was the biggest loser, down $17bn to $6bn.

He fell from eleventh spot to 162 and was unusual amongst the billionaires in seeing his wealth decrease.

The collective wealth of the billionaires on the list also hit a new record of $4.5tn.

A billion:

• 1,000,000,000
• One thousand million

A trillion:

• 1,000,000,000,000
• One million million

The world's largest economy, the US, continues to have the most billionaires, with 413.

Asia, for the first time in a decade, has more billionaires on the list than Europe, with 332 against 300.

China and Russia have 115 and 101 billionaires respectively, with Moscow now home to more billionaires than any other city in the world.

The city has 79 billionaires, and Russia has the most billionaires in Europe. Germany is in second place with 52.

Meanwhile, Europe acquired 50 new billionaires in 2011, taking it to 300 in total, with a collective worth of $1.3 trillion.

The UK has 32 billionaires on this year's list, three more than last year.

Despite the property slump, Gerald Cavendish Grosvenor and family remain the wealthiest Britons, with a net worth of $13bn, up $1bn on a year before.

[Trav Le Bleu]

It's been said a lot recently that the gap between the rich and the poor is widening. I've often wondered how much money there is in total in the world and how much everyone would have if it was distributed equally (Yep, commie I know ) I suspect everyone would be comfortably well off. As it is the rich have to keep the poor poor in order to maintain their ridiculous lifestyles.

A little off topic, but pertainent to how some people treat their money:

I love watching the antiques dealers series that are on like Put Your Money Where Your Mouth is and it seems to me that the secret of antiques dealing is to know people with more money than sense. The amounts of money people with cash to splash pay for mere trinkets is amazing! There are people starving in the world and people paying £300 for hundred year old watches that don't work. Senseless.

[cambridgefox]

Has wymeswold made it to the list yet?

If he hasnt,he needs to cut down on sunday pub lunches!

[davieG]

It's been said a lot recently that the gap between the rich and the poor is widening. I've often wondered how much money there is in total in the world and how much everyone would have if it was distributed equally (Yep, commie I know ) I suspect everyone would be comfortably well off. As it is the rich have to keep the poor poor in order to maintain their ridiculous lifestyles.

A little off topic, but pertainent to how some people treat their money:

I love watching the antiques dealers series that are on like Put Your Money Where Your Mouth is and it seems to me that the secret of antiques dealing is to know people with more money than sense. The amounts of money people with cash to splash pay for mere trinkets is amazing! There are people starving in the world and people paying £300 for hundred year old watches that don't work. Senseless.

I think that particular show is somewhat skewed though because the buyers know the money is going to charity and I suspect they are paying more than they normally would but I take your general point. Even then it doesn't just apply to antiques what about the money spent on other 'luxuries' over priced / expensive clothing, cars they'll never be able to drive to their full capability, expensive foods/restaurant eating they don't really need the list is endless it's all about self gratification.

We all succumb to it to some extent but some have significantly more money than they need and therefore succumb to a greater extent, in our culture they are free to spend it as they wish.

[hairy]

There was a summit for the super rich in Switzerland earlier this year (cant remember what it was called) and they are all getting richer. They say its because their companys have been trimmed down but still maintain their profits.

Wymeswold cannot enter the list until meets the qualifying requirement of being able to post a picture on a forum

[cambridgefox]

I think that particular show is somewhat skewed though because the buyers know the money is going to charity and I suspect they are paying more than they normally would but I take your general point. Even then it doesn't just apply to antiques what about the money spent on other 'luxuries' over priced / expensive clothing, cars they'll never be able to drive to their full capability, expensive foods/restaurant eating they don't really need the list is endless it's all about self gratification.

We all succumb to it to some extent but some have significantly more money than they need and therefore succumb to a greater extent, in our culture they are free to spend it as they wish.

i know exactly what you are saying about cars that are not being driven to their full capacity,you only have to go around Chelsea,Kensington and see Ferraris,Lamborginis stuck in traffic being used as an ego boost.i used to be a bank manager(boo hiss) and i had to look after peoples accounts who earned over a certain salary cap.Many of these city boys,went through Cambridge uni so i had their accounts with me.Some of these guys earnt 700k bonuses and bought the flash cars.i remember one guy bought a Ferrari and 2 weeks later,his friend bought the next model up,just to out do his mate.i said do you take them on track days, and he said no just cruise around London using it to be flash!

At least he was honest,everything they done was to out do someone they worked with .It was another world.

[cambridgefox]

There was a summit for the super rich in Switzerland earlier this year (cant remember what it was called) and they are all getting richer. They say its because their companys have been trimmed down but still maintain their profits.

Wymeswold cannot enter the list until meets the qualifying requirement of being able to post a picture on a forum

They probably wanted him to e mail his bank statement,but just got blank pages!

[Jon the Hat]

I am considering a shiny new BMW. Perhaps I should give the money to the poor instead? Do i spend my money rewarding those who worked hard to design an excellent car, the investors who choose to invest in that company, or bung some cash to the poor who will then rely on handouts even more and be less motivated to get out of poverty.

[MikeyT]

Imagine being a billionaire

I'd be happy with a fiver right now.

[hairy]

I am considering a shiny new BMW. Perhaps I should give the money to the poor instead? Do i spend my money rewarding those who worked hard to design an excellent car, the investors who choose to invest in that company, or bung some cash to the poor who will then rely on handouts even more and be less motivated to get out of poverty.

Are you related to Maggie Thatcher?

[m00nie]

I am considering a shiny new BMW. Perhaps I should give the money to the poor instead? Do i spend my money rewarding those who worked hard to design an excellent car, the investors who choose to invest in that company, or bung some cash to the poor who will then rely on handouts even more and be less motivated to get out of poverty.

poor dont just mean people on benefits or looking for handouts etc..

and without these working class people who do you think would make your car ??

[Jon the Hat]

Are you related to Maggie Thatcher?

I am just wondering where people draw the line in thinking it is anything to do with anyone else how people spend their money. If the rich don't spend their money how is anyone else going to have a share?

[Jimmy2Drags]

It's been said a lot recently that the gap between the rich and the poor is widening. I've often wondered how much money there is in total in the world and how much everyone would have if it was distributed equally (Yep, commie I know ) I suspect everyone would be comfortably well off. As it is the rich have to keep the poor poor in order to maintain their ridiculous lifestyles.

A little off topic, but pertainent to how some people treat their money:

I love watching the antiques dealers series that are on like Put Your Money Where Your Mouth is and it seems to me that the secret of antiques dealing is to know people with more money than sense. The amounts of money people with cash to splash pay for mere trinkets is amazing! There are people starving in the world and people paying £300 for hundred year old watches that don't work. Senseless.

Total world cash flow is approx £44 trillion (£44,000,000,000,000)

Approx 7 billion people (7,000,000,000)

Works out at £6285.71p each

BUT

World debt is just over 39 trillion so that only leaves 5 trillion to split between EVERYONE....£714.28p each

[Zingari]

I am just wondering where people draw the line in thinking it is anything to do with anyone else how people spend their money. If the rich don't spend their money how is anyone else going to have a share?

is this the trickle down theory ?

'If you feed the horse enough oats, some will pass through to the road for the sparrows.'" Galbraith

[Guest BlueBrett]

I'm surprised that computer games and website design kid hasn't made the list. Thought he was a shoe in this year.

Do you think there is a billionaire club? Those 1210 people should get together and fund a mission to Mars or something. Anything that would further the frontier of human achievement. Otherwise they'll just die and all anybody will ever remember them for is their money.

[Guest BlueBrett]

World debt is just over 39 trillion so that only leaves 5 trillion to split between EVERYONE....£714.28p each

Yeh but think what you could buy in Mozambique or Scotland or somewhere with 700 quid!

[hairy]

I am just wondering where people draw the line in thinking it is anything to do with anyone else how people spend their money. If the rich don't spend their money how is anyone else going to have a share?

I dont see it being of anyone's business how people spend their money.

[m00nie]

Yeh but think what you could buy in Mozambique or Scotland or somewhere with 700 quid!

IN scotland???? you could buy scotland!!!!

[davieG]

I am just wondering where people draw the line in thinking it is anything to do with anyone else how people spend their money. If the rich don't spend their money how is anyone else going to have a share?

What's your view on the main thrust of the topic that in spite of world wide recession and many people losing their jobs the controllers of those jobs, the very rich are getting richer?

[Bellend Sebastian]

I think Jon should be forced to spend his BMW money on funding a mission to Mars

[Webbo]

What's your view on the main thrust of the topic that in spite of world wide recession and many people losing their jobs the controllers of those jobs, the very rich are getting richer?

So what? If Bill Gates had all his money took off him tomorrow I wouldn't be a penny better off. He started his business to make money if he'd been confined to earning say $300.00 a week no matter how successful he was he probably wouldn't have bothered. His enterprise has made computers accessible for all.

Profit=motivation=progress.

[hairy]

I think Jon should be forced to spend his BMW money on funding a Charlie Sheen

Corrected

[davieG]

So what? If Bill Gates had all his money took off him tomorrow I wouldn't be a penny better off. He started his business to make money if he'd been confined to earning say $300.00 a week no matter how successful he was he probably wouldn't have bothered. His enterprise has made computers accessible for all.

Profit=motivation=progress.

Who's saying take their money off them, the point is their earnings continue to rise whilst those employed are losing their jobs. There's seems to be some deliberate missing the point, it's their increase in income in the current economic recession with people losing jobs that is being questioned not what they spend their riches on.

Where's the motivation in seeing this for the average joe who provide the means to their riches?

Political dogma be it on the left or right is alive and well I see.

[Bellend Sebastian]

I'll gladly go on a mission to Mars with Bree Olsen.

I'm not bothered if I come back. If anyone other than Jon wants to fund this brave and strictly scientific venture, let me know

[shen]

I'm really not that surprised about the billionaire stat. Logically it makes sense that someone profits from the misery of others. Dog eat dog.

It's been said a lot recently that the gap between the rich and the poor is widening. I've often wondered how much money there is in total in the world and how much everyone would have if it was distributed equally (Yep, commie I know ) I suspect everyone would be comfortably well off. As it is the rich have to keep the poor poor in order to maintain their ridiculous lifestyles.

A little off topic, but pertainent to how some people treat their money:

I love watching the antiques dealers series that are on like Put Your Money Where Your Mouth is and it seems to me that the secret of antiques dealing is to know people with more money than sense. The amounts of money people with cash to splash pay for mere trinkets is amazing! There are people starving in the world and people paying £300 for hundred year old watches that don't work. Senseless.

Poor people squander money as well. I'd wager they'd squander just as much if not more money if they suddenly found themselves being rich, simply because they are much less educated. Ideally I would like money to be distributed fairly as well, but I wouldn't only look at their bank balance and average it out. That is not a fair distribution.

What's your view on the main thrust of the topic that in spite of world wide recession and many people losing their jobs the controllers of those jobs, the very rich are getting richer?

It's the inevitable evolution of a capitalist system encompassing the whole world. It survives because people believe in it. After all, the billionaires are only billionaires because they have a fictional bank account with a lot of digits in it.