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The ‘Super Rich’ and the Recession
Last week Fed Chairman Ben Bernanke spoke optimistically about a global recovery. US home sales have started to improve giving cause for more good feelings. Whether or not Bernanke, EU Monetary Chief Trichet, or any other central banker is correct about pulling out of a recession will be known only in hindsight. However, the effects of recession are already present – especially for the super rich.
The “super rich” are the wealthiest of the wealthy. Think Bill Gates and Warren Buffet. According to CNBC, in 1985 there were only 13 billionaires in the United States. Today there are more than a thousand.…
26Aug2009 | Invest With An Edge | 0 comments | ContinuedIs Bill Gates the New Ben Franklin?
Last week, I had the unique opportunity of meeting Bill Gates, founder of Microsoft, and until last year, the world’s richest man (worth $58 billion).
The meeting was arranged by friend John Mackey, CEO of Whole Foods Market, who was invited by Time magazine to appear on a panel with Bill Gates and other luminaries to comment on Gates’ vision of “creative capitalism” and how business can help alleviate world poverty. The panel discussion will be a cover story in Time this month.
The moderator, Time’s managing editor Rick Stengel, started the panel by suggesting that Ben Franklin set the standard…
4Aug2008 | Investment U | Comments Off | Continued
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