Discover and read the best of Twitter Threads about #Forbes400
Most recents (3)
1/ The collapse of @SBF_FTX (yes, both FTX and SBF's alleged net worth) underscores the need for @Forbes, and others but especially Forbes, to change how they estimate the net worth of the allegedly most wealthy people.
@Steven_Ehrlich @ChaseWithorn @SteveForbesCEO
@Steven_Ehrlich @ChaseWithorn @SteveForbesCEO
2/ If a handful of investments funds put up, say, $100 million in your company and give it a valuation of $2.5 billion, #Forbes400 will call you a billionaire if you own half the company. This is done no matter how much revenue or profit the company has.
cc @KerryDolan
cc @KerryDolan
3/ This valuation is done even if companies of similar structure, revenue and profit trade at much lower multiples in the public market.
Oops. Strike that. Did I compare privately-held companies with no public books to publicly-traded companies that file reports quarterly?
Oy.
Oops. Strike that. Did I compare privately-held companies with no public books to publicly-traded companies that file reports quarterly?
Oy.
The 2022 #Forbes400 List Of Richest Americans: trib.al/RCjTEIH
The wealthiest people in the U.S. are poorer than a year ago—and the cutoff to make the list fell for the first time since the Great Recession. trib.al/RCjTEIH #Forbes400
As a group, the 400 wealthiest Americans are worth $4 trillion—$500 billion less than last year. trib.al/RCjTEIH #Forbes400 
I just published this, arguing that the parents involved in the college bribery scandal are just millionaires from America’s merely rich. Wall Street billionaires have much deeper ties elite universities, making bribes unnecessary. insidehighered.com/views/2019/03/…
In his 1955 book, The Power Elite, sociologist C. Wright Mills documented that half of the 90 richest Americans at the time who had attended college had gone to the Ivy League, with a third having gone to Harvard University or Yale.
Over the last 30 years, however, something big has changed in the ties between prestigious universities and the nation’s rich and powerful: Wall Street financiers have attained even greater dominance as alumni, donors and governing board members.
