By Peter W. Bernstein, Annalyn Swan
From Wall highway to the West Coast, from blue-collar billionaires to blue-blood fortunes, from the Google men to hedge-fund honchos, all of the funds on the earth offers us the lowdown on this day richest american citizens. Veteran newshounds Peter W. Bernstein and Annalyn Swan delve into who made and misplaced the main cash some time past twenty-five years, the fields and industries that experience produced the best wealth, the largest chance takers, the main aggressive avid gamers, the main wasteful relations feuds, the trophy better halves, the main conspicuous shoppers, the most important paintings creditors, and the main and least beneficiant philanthropists. Incorporating unique, never-before-published information from Forbes journal, the entire funds on the planet is a tremendously enjoyable, behind-the-scenes examine modern tremendous wealthy.
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Extra resources for All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes (Vintage)
Hunt Transport Services as his main source of wealth, Huntâ s net worth climbed from $240 million in 1987 to $415 million in 1993. When many trucking firms were going out of business, Hunt proved flexible, forward thinking, and hard-nosedâ a born entrepreneur, in short. But if that manager at Ralston Purina hadnâ t urged him to take over those five old trucks, Hunt may never have entered the trucking industry at all. 25 years: The foundersâ club Only 36 people from the original 1982 list were still alive in 2006 and rich enough to qualify for all 25 years.
It would take years for Trump to work his way back. In the mid-1990s Trump took two of his heavily debt-laden casinos public. The resulting company, Trump Entertainment Resorts, filed for bankruptcy in November 2004 and reemerged the following May with Trumpâ s stake in the company reduced from 47 percent to 31 percent, and with James B. Perry replacing Trump as chief executive. But the Trump Organization survived. Nowadays Trump and his eldest children, Don Jr. and Ivanka, make their fortune overseeing other peopleâ s projects and bestowing upon them the Trump name and brand.
To illustrate the point, he tells a story about a motorist who gets a flat tire and who, on his way to borrow a car jack from a garage, thinks of all the things that could go wrongâ the mechanic may be mean, or he may want to charge too much for the repair or loan of the jack. â Donald Trump may have as much conviction as Adelson, but he has learned the hard way that, in the casino and real-estate industry, itâ s best to share the burden among as wide a group of people as possible. One of the highest-profile victims of 1980s overleveragingâ and one of the few who lived to fight another dayâ Trump still emblazons his name on many projects springing up around the country.
All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes (Vintage) by Peter W. Bernstein, Annalyn Swan