By Peter W. Bernstein, Annalyn Swan
From Wall road to the West Coast, from blue-collar billionaires to blue-blood fortunes, from the Google men to hedge-fund honchos, the entire cash on the earth offers us the lowdown on this day richest american citizens. Veteran reporters Peter W. Bernstein and Annalyn Swan delve into who made and misplaced the main cash long ago twenty-five years, the fields and industries that experience produced the best wealth, the largest chance takers, the main aggressive gamers, the main wasteful kin feuds, the trophy better halves, the main conspicuous shoppers, the largest paintings creditors, and the main and least beneficiant philanthropists. Incorporating specific, never-before-published facts from Forbes journal, all of the funds on this planet is a greatly pleasing, behind-the-scenes examine trendy colossal wealthy.
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Extra resources for All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes (Vintage)
Media magnate John Kluge spent his college days playing poker and graduated from Columbia University in 1937 with $7,000 in winnings, the equivalent of $97,987 today. Takeover artist Henry Kravis whiled away the hours waiting on a 1986 deal to acquire conglomerate Beatrice Companies by playing poker. â Iâ d just won a hand and was raking in the pot when the good news came,â Kravis said at the time. S. history, are fond of playing poker and bridge together. 30 31 Many of the Forbes 400 have been willing to take gargantuan risks, sometimes a number of times, in order to realize their dreams.
It often cost Pickensâ s competitors plenty to keep him from taking over the companyâ a process referred to as green-mail. In the case of the unsuccessful Gulf deal, for example, Mesa made $404 million. 1985 from the pages of Forbes Jane B. Engelhard inherited her money from her husbandâ s mining and minerals empire. , was the prototype for the horse-loving villain in the Ian Fleming novel (and James Bond movie) Goldfinger. (1985 net worth: $365 million) Sumner Redstone was trapped in a Boston hotel fire in 1979 and hung from a window, with flames licking at his hands, until he was rescued.
And so I became responsible for the firmâ s biggest project, and in effect, the CFO [chief financial officer],â says Zuckerman. He was only twenty-five years old. â But hereâ s the lucky part,â he adds. â The guy who was my counterpart on the construction and management side went to his class reunion at MIT. This was 1963, and a lot of small computer and high-tech companies were being spun out of MIT. And like the dot-com guys later, they were all getting equity. â Not only that: When the equity offered proved too puny for Zuckermanâ s counterpart, he leftâ at which point Cabot offered Zuckerman the exiting construction managerâ s equity interest in addition to his own.
All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes (Vintage) by Peter W. Bernstein, Annalyn Swan