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Billionaires

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The Poor Rich

Go ahead, laugh. Your derision is just one of many things poor not-poor people have to bear.

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John McCain Brings All the Billionaires to the Yard

McCain
John McCain is coming to New York next Tuesday for a giant fund-raiser to power his national campaign, reports Elizabeth Benjamin at the Daily News. It sounds like it's going to be a doozy — the host committee includes Henry Kissinger, Alfonse D'Amato, Woody Johnson, Georgette Mosbacher, and Merrill Lynch CEO John Thain. Tickets are either $1,000 or $2,300 per person (get it? The most you can donate to one candidate?), and it will take place at the Plaza. So glamorous. But let's get down to business (literally). How many billionaires will be in attendance? And how many billions do they represent? From Forbes.com's most recent list, we count five: Henry Kravis (the world's 178th-richest man, worth $5.5 billion), Ray Dalio (worth $4 billion), Louis Bacon (worth $1.7 billion), Marc Rowan (worth $1.5 billion), and Robert Fisher ($1.4 billion). That's a total of over $14 billion in the room with the Republican presidential nominee. There are several dozen other multimillionaires on the list, plus Lord knows how many buying tickets — so we'll conservatively push that number over the $15 billion barrier. At first, we wondered how on earth any of the Democrats could get that much money into one room. And then we remembered that all Hillary needs to do is have Warren Buffet hold another fund-raiser, and she'd be in the company of quadruple that amount. Nobody else would even need to show up.

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Jimmy Cayne and Richard Fuld Disinvited From the Billionaire Party

Rich
How humiliating is it to be dropped off Forbes' annual list of the world's billionaires? Just ask Jimmy Cayne and Lehman Brothers' Richard Fuld. Cayne, who stepped down from Bear Stearns earlier this year, and Fuld, who it was just announced raked in a paltry $40 million in 2007, were notably absent from this year's list, which was released yesterday. Does this mean they will be turned away from Steve Schwarzman's next birthday party? Will it be like, I'm sorry, sirs. Only billionaires are allowed here? If that's the case, it's going to be a pretty small crowd, unless Schwarzie plans to hold his fiesta in Moscow. This year, the Russian capital eclipsed New York in the amount of billionaires per capita: We have only 71, with an average net worth of $3.3 billion each, whereas in Russia, 74 billionaires, with an average net worth of $5.9 billion each, are whooping it up with the caviar blini. So other than deadbeats Fuld and Cayne, who else is keeping us down?

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