John Paczkowski

Recent Posts by John Paczkowski

Rich/Obscenely Rich Divide Closing

billionairebustThe souring economy is closing the divide between the rich and the obscenely rich. Forbes just published its annual list of billionaires and it has 332 fewer names this year than last. “Last year there were 1,125 billionaires,” said Forbes CEO Steve Forbes. “This year, it’s down to 793. The typical billionaire is down at least one-third in their net worth.”

Among those who’ve suffered grotesque losses: Microsoft (MSFT) co-founder Bill Gates, who ranks first on the Forbes list with an estimated net worth of $40 billion despite seeing his fortune decline by some $18 billion. Just behind him, in second place: Berkshire Hathaway Chairman Warren Buffett, who saw his net worth fall $25 billion to $37 billion. Finally, telecom magnate Carlos Slim Helu placed third, with $35 billion, down from $60 billion. Combined losses for the three: $68 billion.

“The world has become a wealth wasteland,” Forbes says in its report. “Like the rest of us, the richest people in the world have endured a financial disaster over the past year.”

If seeing your personal fortune slip to $40 billion from $58 billion is disaster, it’s one I think most of us would happily endure.

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December 30, 2013 at 6:49 am PT

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December 29, 2013 at 2:12 pm PT

BlackBerry Pulls Latest Twitter for BB10 Update

December 29, 2013 at 5:58 am PT

Apple CEO Tim Cook Made $4.25 Million This Year

December 28, 2013 at 12:05 pm PT

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Another gadget you don’t really need. Will not work once you get it home. New model out in 4 weeks. Battery life is too short to be of any use.

— From the fact sheet for a fake product entitled Useless Plasticbox 1.2 (an actual empty plastic box) placed in L.A.-area Best Buy stores by an artist called Plastic Jesus