America’s Richest Aren’t as Rich This Year

According to the Forbes 400, the collective net worth of the wealthiest people in the U.S. declined $300 billion over the last 12 months.  Whereas last year a person needed a net worth of $1.3 billion to make Forbes’ list, this year a person only needed $950 million.   

While the rich are less rich, I think most of my readers (and my students) would settle for a mere $950 million.

See Forbes, The Forbes 400, Sept. 30, 2009.

Special thanks to Adam Hirsch (professor of law, Florida State University) for bringing this article to my attention.