According to a document filed with a federal court on Friday, Bernard Madoff, who pleaded guilty to operating a multibillion-dollar Ponzi scheme, is worth up to $826 million,
Bernard L. Madoff Investment Securities is currently being liquidated at $700 million. Of course, how they heck can you substantiat that if it was all from Ponzi-like activity?
They say that Madoff owned real estate all over the world and it is worth $22 million. This includes a New York City apartment valued at $7 million and a home in Palm Beach, Florida, worth $11 million, another in Montauk, New York, worth $3 million and one in Cap d’Antibe, France, worth $1 million.
Bummer. All that work and he never made it into the Billionaires club.
Their collective net worth of all the billionaires is $2.4 trillion, down $2 trillion from a year ago. Their average net worth fell 23% to $3 billion. The last time the average was that low was in 2003.
Warren Buffett, last year’s No. 1, saw his fortune decline $25 billion as shares of Berkshire Hathaway (BRK) fell nearly 50% in 12 months, but he still managed to slip just one spot to #2.
The U.S. is regaining its dominance asAmericans account for 44% of the money and 45% of the billionaires .
Number one billionaire on the list? Bill Gates, Net Worth: $40 billion
That’s way more than a mere $820 million.
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