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#1
09-21-2007, 03:13 AM
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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! 
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#3
09-21-2007, 12:28 PM
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Re: Where\'s the money? Tech, gambling, and oil
People must eat a lotta M and Ms.
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#6
09-21-2007, 02:12 PM
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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.
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#7
09-21-2007, 02:19 PM
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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
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#8
09-21-2007, 02:57 PM
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Re: Where\'s the money? Tech, gambling, and oil
No to derail but can regular people make $$ of investing in casinos? I am not a finance minded person, but when I think about it quickly it seems like a slam dunk: casinos make money, I want to make money, maybe I can invest in a casino. Gotta be missing something big here or else everyone would be doing it, ldo.
KJS
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#9
09-21-2007, 03:14 PM
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Re: Where\'s the money? Tech, gambling, and oil
[ QUOTE ]
[ QUOTE ] ah, Interesting to look at how much personal wealth gets created by finance guys vs. tech guys. I too am not sure how that goes longer term. [/ QUOTE ] Good HF managers are not going to be poor anytime soon. PE is more dependent on public markets being receptive to IPOs and easy credit, a good long-short mgr can obviously do well for years in a bear market. Tougher for PE/VC to achieve that. [/ QUOTE ] yes but will they always be able to command such huge compensation?
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#10
09-21-2007, 05:23 PM
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Re: Where\'s the money? Tech, gambling, and oil
[ QUOTE ]
No to derail but can regular people make $$ 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.
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