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BILLIONAIRES HAD A good 2012.
According to Bloomberg, the richest 100 billionaires added €184 billion to their wealth this past year.
As a whole they’re worth $1.45 trillion.
Bloomberg kindly gave us the data on the Top 10 gainers, how much they’re worth, and how much they made.
They come from a range of industries including tech, telecom, and chemicals.
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Prince Awaleed is like a crook out of a bad 80′s movie. I bet he chews gum.
He wouldn’t look out of place in military fatigues chasing Joan Wilder and Jack Colton through Columbia…
Where’s Sean Quinn?
He’s in your head.
@cornelius- every single time my insurance premium is taken from my current account…
No one person should have an accumulation of such wealth, it’s unethical and it’s the reason why we have so much poverty in the world. Greed. No man needs that much.
Money doesn’t buy you happiness but its easier to cry in a Ferrari.
He wouldn’t look out of place in military fatigues chasing Joan Wilder and Jack Colton through Columbia…
Yes. As they say, I’d rather by rich and unhappy than poor and unhappy.
Money must have little meaning to them.
At least they weren’t handed it on a plate. Hard work and a lotta work got them to the position they’re in now.
Except that prince guy who inherited loads of money
….or ripped off the Russian people of the natural resources they collectively owned, in cahoots with members of the KGB.
….or exploited monopoly situations
….or bribed public officials
….or were in fact handed it on a plate by virtue of their family & connections
…..or caused massive destruction to the natural environment, often where other people lived, destroying their lives, & walked away scot free
The kool aid must be strong stuff where you are Steven.
This is all bad enough when this planet could still be seen as a bottomless pit of resources to exploit & a pollution dump with no consequences.
You might care to reflect that that situation has now profoundly changed.
We are now so numerous and resource greedy that the logical conclusion of ‘limits’ to +exponential+ growth (in ‘material terms) is due in the next decade or two & will have devastating results. Warnings to adapt have not been heeded by authorities, even whilst they finally admit (quietly) that the truth is now undeniable.
If you are under 30 years old, I can cast iron guarantee you that your life will not remotely resemble that of previous generations – one way, or another – in perpetual increase in use of non-recycled, non-renewable resources. First barrier to hit – oil & gas liquids, definitely before 2030 (Michael Kumhof, IMF chief economics researcher, & others), maybe before 2020.
Jealous much?
See my reply to ‘family guy’ above john. Likewise I hope you come to realise what your comment says about yourself & what you value in life :)
No one there from KPMG,
Fair play to them all. More power to them. I applaud anybody that has done well for themselves. Pity this country doesn’t give more incentives for people to thrive. Reform bankruptcy law for starters would help. I bet a few of these people lost everything the first time around before they made their billions. Bankrupting them for 12 years would sure not have helped them.
Agree 100%
Also this country’s mentality need to change. People think that once a failure always a failure. This needs to change. I would back a failed business man in a new venture before a new beginner any day.
@familyguy- I think you need to factor in the carnage left behind by any failed businessman before you bemoan bankruptcy laws. There are always people left out of pocket by a bankrupt, sometimes massively so and I think they’d prefer if the perpetrator couldn’t just wash his or her hands of the debts they accumulated and set up again twelve months later.
Vincent I think you have a flawed argument. No one in their right mind would go into bankruptcy as a business choice it’s a last resort. Punishing those that had the initiative to go into business is not the way to go. We should be encouraging and nurture our business people not punishing them at every turn. All business has an element of risk. If we have such negative consequences if things go wrong less people are likely to get into business. New jobs have to come from somewhere.
Bankruptcy laws are being reformed by this current government. The Personal Insolvency Bill 2012, passed by both houses of government, represents the most radical and comprehensively reform our insolvency and bankruptcy law and practices since the foundation of the state. For example, the mandatory bankruptcy period is being from 12 to three years in Ireland. Its with the president now to be signed in.
Amen Family Guy!
In Ireland all that we currently have is overcomplicated useless “insolvency legislation”,
written by stoogeens whose only goal is to
protect their corrupt/criminal banking buddies.
@ Vincent
Ask yourself this.
How can Ireland compete with other developed countries, when it is kept in the dark ages by our useless ancient
so called “insolvency legislation”?
Good luck to all the Irish emigrants that our government have failed.
I sincerely hope that you excel in a (pro business/pro ambition) jurisdiction.
Far to little far to late, Kevin.
I wont be holding my breath for this half a***d attempt.
@Kevin Northern Ireland had similar insolvency laws years ago and they didn’t work. As long as the banks have the final say it’s totally flawed. The state is too scared to bring in the same laws as the UK as the banks still have too much pull over our government. Having the same laws as the UK is the only answer.
@familyguy- that’s simply not true. I’m absolutely pro- business but you work off the naive assumption that everyone who goes into business is responsible. Not so. It’s a real problem in the UK that gangsters can just set up a new company can set up 12 months after defaulting on huge debts. You’re right. All business carries risk. So you shouldn’t be so quick to want to mitigate the consequences of failure where business operators have conducted business irresponsibly.
Vincent, all business bar the banks appear to carry a risk…. Ordinary SMEs fail no safety net provided… The bankruptcy laws are atrocious…. Banks fail and get bailed out…. And the Tax payer pays… Increased taxes…. And hence as a direct result most ordinary people have Less disposable money to spend in SME’s…. It’s a vicious circle and a sad state of affairs….
Vincent it sounds like you work for a bank?
GatheringYourMoney; Don’t go blaming this government. Blame Fianna Fail. This was done in under two years under a new government and is a significant level of reform that has never been done by this state since its foundation. What else did you lobby your TD for that wasn’t included?
family guy; I agree that the banks shouldn’t be given the final say. No doubt about that one.
Kevin the FG and the Labour party had a real chance here to bring us in line with modern bankruptcy laws of other countries and they chickened out no doubt about it. Probably after being lobbied by the banks no doubt.
@familyguy- outside of my mortgage, no connection to banks whatsoever. I’m more worried about suppliers who are left high & dry without any recourse when a customer goes bankrupt. Irresponsible operators can drag good business’ down with them and should pay a penalty for doing so.
Who mentioned FG or FF Kevin?
They are all the same.
They are all very willing to do nothing,
as they stand by and watch their people being abused to the point of insanity, emigration and suicide.
I’m waiting for all the begrudging post to start.
http://www.trueactivist.com/list-of-top-10-documentaries-watch-online-for-free/
Zeitgeist the movie is first on the list, some stuff in it that might get you reaching for your tinfoil hat but check out how honest and benevolent those billionaires are
Luckily Niall, there’s a cabal of journal ‘commenters’ who will indeed fulfill that wish!
Bring in a wealth tax folks. Tis the only solution. Fecking cheek, earning all that money and not giving it to us. ;)
*childish giggle* Koch
Ha ha, hope his first name or nickname isn’t Tiny.
Or willy
Koch is his first name, Innhole is actually his surname
It’s pronounced coke, like the drink. Was my first reaction too though!
Fair play to all of them
This time next year, Rodney, We’ll be billionaires!
But are they happy!
They didn’t look sad in the photos
The rich get richer, the poor stay poor and the middle class pay nearly all the worlds taxes and do all the work!
Such is capitalism!!
Such is *government*
Good luck to them
Well, they say ignorance is bliss.
None of these people got this wealthy by any ethical operation or ‘free market’ entrepreneurial endeavour.
They either got there by straight theft (the Russian oligarchs), other dishonest means (including political corruption) or the ruthless exploitation of a ‘natural’ monopoly situation.
Actually, I have no problem with entrepreneurs who create something of value to the real economy amassing 10s of millions, but there comes a point beyond which such wealth has to have been achieved at least unethically, if not illegally. And even more importantly, that wealth is then applied to further corrupt the basis of democracy ultimately causing poverty & premature deaths of other citizens. (Do a little searching on the Koch brothers for example.)
A further point.
The fact that their wealth has grown so much means just one thing:
The increase represents the increased extent to which their ‘investments’ are expected to extract a ‘return’ from the real economy and work activity of ordinary citizens.
The maths are simple.
When the real economy, in global terms is growing by perhaps 3 or 4 % (in ‘nominal’ terms) and these people’s ‘returns’ are growing by 5 to 10 times as much, their increased income is only coming from one place – the income & living standards, past present & future, of ordinary citizens.
So, when you say ‘good luck to them’, you are either ignorant or one of the top few percent for whom their is no ‘austerity’ in return for their ‘service’ to the elites at the top (like these billionaires).
Mike what’s your problem? Your making sweeping statement with no facts to back them up. Jealous are we?
Oh dear ‘family guy’…..by making that comment you reveal your own lack & understanding of inner peace and fulfilment. You haven’t realised that wealth is a distraction from real contentment. I hope you are young & still have time to discover this truth.
If the greed of these billionaires (& many others like them) did not harm other people and/or the natural environment & distort the functioning of democracy to these selfish ends, I would not care & consider their wealth their own problem :)
I’ve worked with the rich and wealthy and I’ve seen first hand how easy it is to make money when you have money.
It takes an enormous ego and insatiable stupidity to loose billions.
While that comment wasn’t aimed at the Quinns, it fits. In his own words he was arrogant.
Have you ever heard of the phrase “it takes money to make money”. A millionaire told me once that the first million was hard earned and every million after that got easier and easier. Makes sense really.
I wonder are any of them single ??
Fair play lads. Ca bfhuil na cail?n? ?
Cailini
Poor bastards.
I bet that none of them are as happy as me though. UPC undercharged me again!’!!
Putting into context, the lowest earning ones earned €5.4bn. If they started writing “One Thousand Euro”, they would have to do it 5,400,000 times just to make up the numbers. It’s very easy to make money when you have money. However, the ones with money get fewer and richer every day.
Why were the Koch brothers the only 2 on the list to have their political affiliations listed?
Because the Koch brothers have devoted hundreds of millions of dollars trying to defeat Obama. It has been their obsession since he was first elected. These are scary scary guys. Google the article done on then in The New Yorker.
They are scary guys because they donated money to someone other than Obama?! Who did all the others on the list donate their money to (politically speaking)?
Chelsea are a solid right wing team Cian. Congrats.
Good luck to them all.
Carlos ‘Slim’. Classic
Your spot on family guy. But it’s also Irish society. We love to see failure. It’s in our blood. We should have a more encouraging ethos. It takes the Irish to go away to be a success because they are encouraged. Come home and someone wants to take you down a peg or two.
@Michael Cannon.. Oh we are a nation of begrudgers alright! I loved watching my boss’s business fail, loved it, paid me pittons while he drove around in his sports range rover, lived in his big mansion with all his expensive holidays. While my working partner and I couldn’t even afford a wk end away. Yes I know I’m a nasty horrible person but I can’t explain it, it’s almost built in us Irish, we hate seeing anyone do well, we are happy to slash front line workers to nothing, moan about the guards and how easy they have it yet say “oh wouldn’t do that job meself”, if these jobs are so great then why doesn’t everyone phucking go for them! Private sector varies from poor to rich, we say the poor should earn more, those doing ok should be cut and made to suffer! Begrudge begrudge begrudge.
Karolyn you blame everyone else but yourself. Maybe if you tried harder in school you would have got better grades and therefore a better paid job. Oh but it’s easy to blame others rather than yourself isn’t it?
I thought Carlos slim was worth 70 Billion Dollars??
It’s not a crisis… it’s a fraud…
What I mean is… we’ve been living in a “crisis” for the last 3-4 years. During this time, richest people have become richer and richer and have been able to find better and better business opportunities. Meanwhile, the rest of the people has lost social rights, jobs and hope. In my opinion that’s more a giant fraud than a real crisis.
No women then?
Giz a lend???
Don’t you just love the fact they Are all middle age men.. not one woman amongst them goes to show the reality of gender inequality..
Maybe it just means women aren’t as greedy? Or greedy women aren’t successful? Just trying to put a positive spin on it!
Suzanne I don’t agree with you. How is there inequality when your the boss of the business. Surely if a woman is the boss she has control. You don’t become a billionaire by being an employee. Also women are more risk averse than men. This has been proven by numerous studies. To become this wealthy you need to take some big risks.
No need for billions just pure greed.
#8 looks like someone from a cheesy eighties porno.
But are they happy????? :D
Yes we are.
We have all the bananas.
And we dine out on your famines.
Your hunger is our sauce.
You and your paltry planet are just chips in our casino.
Chase your carrots, suckers.
wonder how many of those guys are holding Irish bonds??
Money makes the world go around the world go around dum diddly de dum diddly de
Van Persie is a legend!
Fair play family guy if someone want to put there whole life on the line and assume all the risk, they deserve all the reward ! Because of these kind of people we have a job to work in .. I have massive respect for entrepreneurs . I once heard a guy say that failure is an event not a person ! Bankrupted in England is 3 years I think plenty of time to learn from our mistakes
Bankruptcy in England is 1 year the same as the USA and many other countries.
Isn’t this just an obscene situation that got more obscene in 2012?
Oops! Sorry Greg! :/
carlos slim is worth 69 billion and is the worlds richest man and has been for some time. I’m confused with these figures?
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