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Entries in Wealthiest (3)

Wednesday
Oct242012

The Wealthiest People in Each State Revealed

Scott Olson/Getty Images(NEW YORK) -- Wealth managers and other businesses may want to take heed.  Wealth-X, an information research firm of ultra high-net worth individuals worth over $30 million, has compiled a list of the richest person in each state.

The ultra high-net worth population is spread throughout the country, often living close to the companies they founded.

Bill Gates, the country's wealthiest individual and the world's most generous, still resides in the state of Washington, home of Microsoft.

The majority in Wealth-X's list are men and in business.  The oldest person is Anne Cox Chambers, 92, the daughter of James Cox who founded Cox Enterprises.  She has a net worth of $11.2 billion.

David Friedman, president of Wealth-X, said the list of the wealthiest individuals in the U.S. shifts frequently, as economic and business conditions can change net worth drastically.

"Instead of a top down approach, we do a bottom-up report," Friedman said, researching the "granularity" of each person in the list, which can "reinvent the way the ultra-wealthy donate and invest."

[ CLICK HERE TO SEE WEALTH-X'S LIST OF THE RICHEST PERSON IN EACH STATE ]

Copyright 2012 ABC News Radio

Thursday
May172012

U2′s Bono to Overtake Paul McCartney as World’s Wealthiest Rock Star

Michael Tran/FilmMagic(NEW YORK) -- Paul McCartney may be about to be surpassed as the wealthiest rock musician in the world by U2 frontman Bono.  NME.com reports that the Irish rocker, who owns a 2.3 percent stake in Facebook, is expected to see his net worth increase significantly when the social-networking company goes public on Friday.

Facebook is valued at more than $100 billion, which will make Bono’s share worth in excess of $1.5 billion.  In comparison, the Beatles legend’s fortune is estimated to be slightly over $1 billion.

Bono bought his Facebook shares for about $90 million back in 2009 through his private equity company Elevation Partners.

Copyright 2012 ABC News Radio

Tuesday
May312011

Rich Keep Getting Richer, New Report Claims

Brand X Pictures/Thinkstock(NEW YORK) -- The world's rich continued to get richer over the last year, according to a report from The Boston Consulting Group issued Tuesday.

Their figures show that globally, there is about $121.8 trillion in global wealth around the world today, up $20 trillion since the depths of the financial crisis. The firm, which looks at investable global wealth assets like cash, money market, stocks and bonds, excludes from their calculations the value of a person's owned businesses, homes and luxury goods.

According to BCG's data, millionaire households represent just 0.9 percent of the global population, but control some 39 percent of the planet's wealth -- up from the 37 percent the group represented in 2009.

The U.S. has the largest population of millionaire households (5.2 million), but Singapore has the densest population of wealth with 15.5 percent of the city-state’s population qualifying as super rich.

Copyright 2011 ABC News Radio







ABC News Radio