Download All the Money in the World: How the Forbes 400 Make--and by Peter W. Bernstein, Annalyn Swan PDF

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 supplies us the lowdown on this present 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 most important possibility takers, the main aggressive gamers, the main wasteful kinfolk feuds, the trophy better halves, the main conspicuous shoppers, the largest artwork creditors, and the main and least beneficiant philanthropists. Incorporating unique, never-before-published info from Forbes journal, all of the cash on the earth is a drastically exciting, behind-the-scenes examine present day tremendous wealthy.

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All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes (Vintage)

From Wall road to the West Coast, from blue-collar billionaires to blue-blood fortunes, from the Google men to hedge-fund honchos, the entire funds on this planet provides us the lowdown on this present day richest american citizens. Veteran reporters Peter W. Bernstein and Annalyn Swan delve into who made and misplaced the main funds long ago 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 relatives feuds, the trophy other halves, the main conspicuous shoppers, the most important artwork creditors, and the main and least beneficiant philanthropists.

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Additional info for All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes (Vintage)

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Huntsman makes it sound easy. But a couple of years after he bought the Shell plant, the industry was still in recession and Huntsman was still in financial trouble. Not only did he refuse to give up, but, convinced that the market was about to turn upward, he continued his acquisitions and bought a further three plants from the German chemical firm Hoechst AG for $45 million. This time Huntsman paid nothing up front. The market was so bad, and the cost of closing the plants so high, that Hoechst agreed to defer the cost for five years.

That was precisely the thinking of the banks when Donald Trump ran into financial trouble. As Forbes senior editor Alan Farnham put it in Forbes Great Success Stories: Twelve Tales of Victory Wrested from Defeat, recounting Trumpâ s near-death experience with debt, â In effect, money center banks like Citibank had to stand by Trump, because if they pulled the rug out from under him, they themselves stood to tumble. â And acting as his own Lee Iacocca, he argued that point persuasively. â Listen fellows,â Trump recalls saying, â if I have a problem, then you have a problem.

This time Huntsman paid nothing up front. The market was so bad, and the cost of closing the plants so high, that Hoechst agreed to defer the cost for five years. Within a month of the deal the market started to make a comeback. And within a year the plants were making enough money to pay for themselves. Ten years later they were worth $200 million. In the Red 34 35 Even the most calculated risk can go horribly wrong. But while many a business owned by the Forbes 400 has plunged into bankruptcy, it is rare that Forbes 400 members have had to file for personal bankruptcy, as did Herbert and Bunker Hunt, following their unsuccessful scheme to corner the silver market in the early 1980s.

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