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Author Topic: NY lost 9 billionaires this year — here’s how their absence is bad news for every New Yorker  (Read 787 times)

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Offline rangerrebew

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NY lost 9 billionaires this year — here’s how their absence is bad news for every New Yorker
« on: November 10, 2024, 09:41:27 am »

NY lost 9 billionaires this year — here’s how their absence is bad news for every New Yorker
Story by Georgia Worrell • 1d


The Big Apple’s billionaires are hemorrhaging cash.

Nine New York-based billionaires fell off this year’s Forbes 400 list of wealthiest Americans — and 18 have dropped off in the past five years.

Of those who didn’t make it back onto this year’s list, one died – investor Jim Simons – and the rest saw declining fortunes.

Fortress Investment Group Chairman Wesley Edens saw his net worth plummet to $2.7 billion this year from $3.9 billion in 2023, knocking him out of the top 400.

https://www.msn.com/en-us/money/markets/ny-lost-9-billionaires-this-year-here-s-how-their-absence-is-bad-news-for-every-new-yorker/ar-AA1tMYFC?ocid=msedgntp&pc=HCTS&cvid=eff8be280c4d4b43af84f023723158a0&ei=63
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Offline DefiantMassRINO

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Re: NY lost 9 billionaires this year — here’s how their absence is bad news for every New Yorker
« Reply #1 on: November 10, 2024, 11:17:47 am »
Billionaires' unproductive deployment of capital is not the same as billionaires and their companies repatriating to another state.

Many of those NYC billionaires are linked to pirate equity, vulture capital, and hedge funds.  If their hedge funds bet against a rising stock market, they made losing bets.
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Offline GtHawk

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Re: NY lost 9 billionaires this year — here’s how their absence is bad news for every New Yorker
« Reply #2 on: November 10, 2024, 05:15:08 pm »
I don’t know why but when I read the headline I thought it was about billionaires wising up and moving out :shrug:
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Offline Smokin Joe

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Re: NY lost 9 billionaires this year — here’s how their absence is bad news for every New Yorker
« Reply #3 on: November 10, 2024, 05:21:14 pm »
Quote from: GtHawk on November 10, 2024, 05:15:08 pm
I don’t know why but when I read the headline I thought it was about billionaires wising up and moving out :shrug:
Apparently a couple have...

I wonder how those ESG and DEI portfolios are doing? :whistle:
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Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

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