What Billionaires Have In Common

Posted by Queuebot in Money & Finance on April 9, 2009 at 4:39 pm

What do billionaires have in common besides a lot of money?  Forbes magazine decided to find out, and did an in depth analysis of the 657 self made billionaires on their list from a few months ago.  Amongst the things they analyzed are the billionaire’s parents, education, job, and social standings. 

Some of the surprising common traits they found are:

September Birthdays

Of the 380 self-made American tycoons who have appeared on the Forbes list of the World’s Billionaires in the past three years, 42 were born in September–more than in any other month. Maybe that’s because September is the month the Forbes list of the 400 richest Americans is published.

Tech Titans Who Dropped Out of College

Forget everything your guidance counselor told you: You don’t have to go to college to be successful. More than 20% of the self-made American moguls on the most recent list of the World’s Billionaires never finished college. Many of them made their fortunes in tech. Among them: Bill Gates, Steve Jobs, Michael Dell, Larry Ellison, (Oracle) and Theodore Waitt (Gateway).

Skull and Bones

Several current and former billionaires rounded out their Yale careers as members of Skull and Bones, the secret society portrayed with enigmatic relish by Hollywood in movies like The Skulls and W. Among those who were inducted: investor Edward Lampert, Blackstone co-founder Steven Schwarzman and FedEx founder Frederick Smith.

Link – via forbes

From the Upcoming ueue, submitted by Geekazoid.

 
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Mexican Drug Lord Joined Forbes' List of World's Billionaires

Posted by Alex in Crime & Law, Money & Finance on March 13, 2009 at 4:33 pm

Who ever said that crime doesn’t pay? It certainly did for this guy: Joaquin "El Chapo" Guzman Loera, who made the rank in Forbes’ annual list of The World’s Billionaires.

Mexico’s most wanted man, "El Chapo", or Shorty, heads the Sinaloa cartel, one of the biggest suppliers of Cocaine to the U.S. In 1993 was arrested in Mexico on homicide and drug charges. Escaped from federal prison in 2001, reportedly through the laundry, and quickly regained control of his drug trafficking organization, which he still controls today. In 2008 Mexican and Colombian traffickers laundered between $18 billion and $39 billion in proceeds from wholesale shipments to the U.S. Shorty, an alleged tunnels expert, is believed to have directed anywhere from a third to half of that during the past 8 years. Apparently started out working with Miguel Angel Felix Gallardo, "El Padrino", or the Godfather, head of the most powerful drug trafficking group in Mexico at that time. U.S. government is offering a $5 million reward for his capture.

Needless to say, Mexican authorities are livid:

Mexican Attorney General Eduardo Medina Mora expressed outrage at the publication and described Forbes’ calculations on Guzman Loera’s fortune as mere "speculation."

"I will never accept that a criminal could be recognized as someone distinguished, even if it is by a magazine like Forbes," Medina Mora said to local media during a drug traffic summit Thursday in Vienna, Austria.

Forbes is "comparing the deplorable activity of a criminal wanted in Mexico and abroad with that of honest businessmen," he said.

Link | CNN Article (Photo: STR/AFP/Getty Images)

 
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