Losing $100 Million a Day ...

Posted by Alex in Money & Finance on November 13, 2008 at 12:38 pm


Stock market blues got you down? Well, take heart that you’re not losing as much money as Sheldon Adelson. The casino and hotel magnate had lost (at least on paper) $30 billion in investments in the past year!

Put another way, his net worth declined by about $100 million a day, or $4.1 million an hour, or $69,000 a minute, or $1,157 a second.

It is possible Mr. Adelson now may hold the title for the largest one-year paper loss in U.S. history.

A graphic in Vanity Fair last month showing the biggest stock-market losers had Warren Buffett down about $16 billion. The Walton kids were down a combined $21 billion. The Google guys were each down about $12 billion, as was Bill Gates. (Overseas, there are some even more impressive, er, losers, such as Lakshmi Mittal racking up more than 20 billion pounds in paper losses, but for the purposes of this post, let’s stick to the U.S.).

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(Photo: Mike Clarke/Getty Images via Forbes)


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11 comments to "Losing $100 Million a Day ..."

  1. Rocky Rook
    November 13th, 2008 at 1:18 pm

    I'd love to have that kind of pain.

  2. Mike Snider
    November 13th, 2008 at 1:19 pm

    Couldn't happen to a more deserving guy! At the beginning of this decade, there were 125+ contractors & subcontractors on The Venetian in LV who had to all file a lawsuit against Adelson just to get him to pay them!

  3. cheechman85
    November 13th, 2008 at 1:21 pm

    Seriously, in the words of Artie Lange, "WAAAAA".

  4. stormie24
    November 13th, 2008 at 1:32 pm

    that's crazy! this explains why you see all the pictures of people with their head in their hands.

  5. sigh
    November 13th, 2008 at 2:45 pm

    OH COME ON! He didn't lose squat! He still has way more than enough money. Come on, Neatorama, this is ridiculous.

  6. DOJ
    November 13th, 2008 at 2:53 pm

    If somehow the $700 billion bailout works, are we going to get a post about how this guy is making $100 million a day?

  7. MosselKots
    November 13th, 2008 at 3:49 pm

    If someone loses that much,
    he had WAY too much to begin with...

    just cannot feel sorry for these people

  8. rageagainsttherobots
    November 13th, 2008 at 5:00 pm

    The house doesn't always win.

  9. MENLOHEAVYWEIGHT
    November 13th, 2008 at 5:21 pm

    HAHAHAHAHAHAHAHAHAH

  10. Ali S.
    November 14th, 2008 at 12:37 am

    @ rageagainsttherobots

    I laughed for about a good minute at that comment! ;)

  11. akakii
    November 14th, 2008 at 2:24 pm

    He deserves every bit of it.


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