Where Does All That Hedge Fund Money Come From?

In the March 25th Forbes Billionaires issue Editor-In-Chief Steve Forbes writes:

The impressive increase in the net worth of the world’s billionaires and the fact that there are 200 more of these folks than there were a year ago will have leftists everywhere decrying the growing gap between the haves and the have-nots.

He goes on to say:

…the overwhelming majority of these people have moved ahead through meeting the needs and wants of other people, not through inheritances or crony capitalism.  Their successes didn’t come at the expense of everyone else.  Free-market capitalism is not a zero-sum system.

Wow…and here I thought the (Former Federal Communications Commission Chairman) Michael Powell induced, massive consolidation of the publishing industry made the few players still in the game smarter.  It must be wonderful to inherit a magazine that reaches millions of readers while at the same time being head cheerleader for Team Capitalist.  Able to opine and project with no immediate challenge.  Forbes aside, print media must still be relevant.  Why else would Warren Buffett be invested and the Koch brothers look to purchase Tribune Company newspapers?

Here is a smidgen of the Forbes glory campaign:

The United States leads the list with 442 billionaires

Out of the global top 100:

#11  Christy Walton & Family                     $28.2 Billion

#13  Michael Bloomberg                               $27 Billion

#14  Jim Walton                                             $26.7 Billion

#16  Alice Walton                                           $26.3 Billion

#17  S. Robson Walton                                  $26.1 Billion

#74  Abigail Johnson (granddaughter of Fidelity Investments founder)           $12.7 Billion

#99  Laurene Powell Jobs & Family (wife of Apple founder Steve Jobs)           $10.7 Billion

Free-market capitalism?  No such animal…Bloomberg’s wealth has increased since becoming Mayor of New York City.  Wal-Mart continues to cause angst wherever a new outlet is considering opening; unions are discouraged, health benefits are scarce and labor practices are continually questioned.  Now the news of Apple’s billions of dollars in tax avoidance.  While the financial districts of the world are basking in wealth Uptown U.S.A. continues to suffer in despair. 

It’s just the current natural order of things.  Just ask any politician.

“Signed…An Educated Brother!”


About aneducatedbrother

Sharing the belief that education is not a business, and true academic reform is the only tide that will lift all boats.
This entry was posted in Business Schools, Charter Schools, Education, Education Reform, Public School Education. Bookmark the permalink.

1 Response to Where Does All That Hedge Fund Money Come From?

  1. I am no longer positive where you’re getting your information, but great topic. I must spend some time studying more or figuring out more. Thanks for great information I used to be looking for this information for my mission.

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