Monday, December 15, 2008
Recycling
Well, cry me a river!
The world’s 50 richest Arabs have lost a staggering $25 billion between them in the last year, as the global financial crisis sweeps through the region. The figures are revealed in the Arabian Business 2008 Rich List, which will be published on Sunday.
The list shows that the average fortune of the top 50 has slipped to $3.99 billion – down from $4.99 billion last year. In total, the top 50 now hold between them $199.48 billion – a fall of 12 percent on last year.
Unfortunately, painful as it must be to lose a billion dollars, the 50 richest Arabs were down only 20% on average in the last year. Sadly, that means they are doing better than me or, for that matter, the S&P 500. But who knows, maybe their luck will change!
CWCID: Mitchieville.
4 Comments:
By 
Elijah, at
Mon Dec 15, 10:50:00 PM:
and the states in which they live?
By 
, at
Tue Dec 16, 12:36:00 AM:
"The world’s 50 richest Arabs have lost a staggering $25 billion between them"
Between them! Between them! You went to Harvard? Maybe you meant "amongst" them?
By , at
Tue Dec 16, 03:13:00 AM:
Careful there. The Weimer Germans thought 1000% inflation/year was patriotic because it was screwing over British owners.
By , at
Tue Dec 16, 10:23:00 AM:
I have often wondered: at what point do you have so much money that money no longer has meaning to you? There must be a point at which your wildest, most extravagent and whimsical desires can be fulfilled without any worry about what's left. I suspect it's a different point for each individual but, still, there must be a point for everyone. What is the sense then, if you can fulfill all those desires without future worry, of having money beyond the point of meaninglessness.
Perhaps, being one of the multitude that will never achieve that particular version of Nirvana, that is a question peculiar to me as opposed to one of those fortunate few.
