I read another surprising statistic yesterday, which was passed along by our salesman at ISI Group. According to Bloomberg, China has 106 billionaires this year, up from just 15 last year.
A billion dollars is alot of money. But to have a six fold increase in billionaires in just one year strikes me as borderline crazy.
On the one hand, it strikes me as a sign of extreme speculation. I’m thinking right now of NASDAQ 5000. Easy come, easy go. Forbes 500 one year, off the next. Fake. Can’t last. Absurd.
But then the other side of me kicks in, thinking that 91 billionaires didn’t become that way overnight. Surely, they’ve been at their businesses for twenty years, maybe even thirty or one hundred! Maybe these 91 were all at $900 million last year and simply didn’t make the cut.
Am I being rational, perhaps too much so? Or am I just jealous of my neighbor’s candy?
What do you think? Let me know.
A billion dollars is alot of money. But to have a six fold increase in billionaires in just one year strikes me as borderline crazy.
On the one hand, it strikes me as a sign of extreme speculation. I’m thinking right now of NASDAQ 5000. Easy come, easy go. Forbes 500 one year, off the next. Fake. Can’t last. Absurd.
But then the other side of me kicks in, thinking that 91 billionaires didn’t become that way overnight. Surely, they’ve been at their businesses for twenty years, maybe even thirty or one hundred! Maybe these 91 were all at $900 million last year and simply didn’t make the cut.
Am I being rational, perhaps too much so? Or am I just jealous of my neighbor’s candy?
What do you think? Let me know.