Britain’s super-rich ravaged by recession – Management – Executive Style.
Sometimes the numbers just wash over you.
Indian-born steel tycoon Lakshmi Mittal topped the list for the fifth year running – but he and his family’s wealth has plunged 61% to STG10.8 billion ($22.23 billion) in 2008, sharply down from STG27.7 billion ($57.01 billion) in 2007.
His wealth plunged 61%? Now his only worth $22.23 billion? What does that actually mean? In spending terms, what’s the difference between 57 billion and 22 billion? Does it mean you can’t buy that small Greek island that you’ve always wanted?
If my wealth plunged by 61% I’d have a few cents left. I couldn’t survive.
Mind you, they talk about what they’re worth. At least my savings are in a bank and I can withdraw that money – I don’t have to sell a stack of shares.
Hard to feel anything but contempt for them. You can’t spend that much money. Can you? Just some of their wealth would go a long way to helping the people in this world that really need it. Imagine how much rice that could buy. The farmers would be happy, the retailers would be happy, and most importantly hungry people would get fed.
The game needs to stop being about how much useless money you can grab and more about helping those with less.