Where\'s the money? Tech, gambling, and oil
 

Forbes 400

Top 10 this year?

5 hi-tech (Gates - MSFT, Brin/Page - Google, Ellison, Dell)
2 oil (Kochs)
2 casinos (Adelson/Kerkorian)
1 Buffett!

It's probably a little disingenuous to classify KK as casinos, since that's really just part of his investment/buyout portfolio, but it's a big part of his roots, focus, and empire.

Rounding out the top 20 are a couple more Microsoft guys, the Waltons (Wal-Mart), and a couple of finance players (Icahn, Fidelity). And the Mars bar family!

Re: Where\'s the money? Tech, gambling, and oil
 

imo the kochs are tech too. Just wealth left from refining technology.

Re: Where\'s the money? Tech, gambling, and oil
 

People must eat a lotta M and Ms.

Re: Where\'s the money? Tech, gambling, and oil
 

most of the new guys are PE/hedge fund people. Not sure if thats gonna be a long term thing or era specific.

Re: Where\'s the money? Tech, gambling, and oil
 

ah,

Interesting to look at how much personal wealth gets created by finance guys vs. tech guys. I too am not sure how that goes longer term.

Re: Where\'s the money? Tech, gambling, and oil
 

[ QUOTE ]
ah,
Interesting to look at how much personal wealth gets created by finance guys vs. tech guys. I too am not sure how that goes longer term.

[/ QUOTE ]

Good HF managers are not going to be poor anytime soon. PE is more dependent on public markets being receptive to IPOs and easy credit, a good long-short mgr can obviously do well for years in a bear market. Tougher for PE/VC to achieve that.

Re: Where\'s the money? Tech, gambling, and oil
 

Hm - I could be off, but pretty sure they don't have a good methodology for understanding PE / VC net worth. Especially with the privately held portion of their portfolios. Numbers feel understated and alot of VCs (e.g. Khosla, who I've read was worth $2B couple years ago, which feels low to me) I'm surprised didn't make the list.

-Al

Re: Where\'s the money? Tech, gambling, and oil
 

No to derail but can regular people make $$ of investing in casinos? I am not a finance minded person, but when I think about it quickly it seems like a slam dunk: casinos make money, I want to make money, maybe I can invest in a casino. Gotta be missing something big here or else everyone would be doing it, ldo.

KJS

Re: Where\'s the money? Tech, gambling, and oil
 

[ QUOTE ]
[ QUOTE ]
ah,
Interesting to look at how much personal wealth gets created by finance guys vs. tech guys. I too am not sure how that goes longer term.

[/ QUOTE ]

Good HF managers are not going to be poor anytime soon. PE is more dependent on public markets being receptive to IPOs and easy credit, a good long-short mgr can obviously do well for years in a bear market. Tougher for PE/VC to achieve that.

[/ QUOTE ]

yes but will they always be able to command such huge compensation?

Re: Where\'s the money? Tech, gambling, and oil
 

[ QUOTE ]
No to derail but can regular people make $$ of investing in casinos? I am not a finance minded person, but when I think about it quickly it seems like a slam dunk: casinos make money, I want to make money, maybe I can invest in a casino. Gotta be missing something big here or else everyone would be doing it, ldo.

[/ QUOTE ]

Expectations are already built into the price of the stock.