Monday, 9 January 2012

Oil and the rich


 Facts about the rich, how oil has become the product that has shot the majority of the rich to the top of the rich list. - Forbes.

In the first Forbes 400 [1982], oil was the source of 22.8 percent of the fortunes, manufacturing 15.3 percent, finance 9 percent, and technology 3 percent.  By 2006 oil had fallen to 8.5 percent and manufacturing to 8.5 percent.  Technology, however, had risen to 11.75 percent and finance to an extraordinary 24.5 percent.
And get this:
The average net worth in 2006 of Forbes 400 members without a college degree was $5.96 billion; those with a degree averaged $3.14 billion.  Four of the five richest Americans — Bill Gates, casino owner Sheldon Adelson, Oracle’s Larry Ellison, and Microsoft cofounder Paul Allen…– are college dropouts.
Both are from the quite engaging All the Money in the World — How the Forbes 400 Make — And Spend — Their Fortunes, by Peter W. Bernstein and Annalyn Swan.

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