financetom
News
financetom
/
News
/
400 richest Americans now worth $2 trillion
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
400 richest Americans now worth $2 trillion
Sep 17, 2013 7:17 AM

The 400 richest Americans are now worth a combined USD 2 trillion, according to Forbes.

That sets a record, Forbes said, and marks a jump from last year`s total of USD 1.7 trillion.

The average net worth of a Forbes 400 member is now USD 5 billion-also the highest ever. And the costs of being part of the 400 Club rose to USD 1.3 billion.

But it`s the USD 2 trillion number that remains the most interesting. The 400 richest are now worth more than the GDPs of many nations-and they are worth more than most governments spend or tax.

Here is some perspective on what the 400 richest Americans are really worth.

USD 2 trillion is more than the combined net worth of half of all Americans. The bottom half, of course.

USD 2 trillion is more than the annual GDP of Italy, Mexico or Canada.

USD 2 trillion is equal to the Federal Reserve's holdings of publicly traded US Treasurys.

USD 2 trillion is the estimated size of the underground economy, mostly unreported income.

USD 2 trillion would fund all government spending through July of this year.

USD 2 trillion is equal to about two-thirds of all taxes to be collected in the US for 2013.

USD 2 trillion would pay for all of the existing home sales in the US in 2012 AND2013 year-to-date.

-By CNBC`s Robert Frank. Follow him on Twitter @robtfrank.

Copyright 2011 cnbc.com

First Published:Sept 17, 2013 4:17 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Sterling moves in a positive zone after UK inflation data
Sterling moves in a positive zone after UK inflation data
Jun 19, 2024
Sterling rose in European trade on Wednesday against a basket of major rivals, extending gains for the third session against the dollar and moving off four-week lows after UK inflation data. Mainline UK inflation rose just 2%, the slowest such pace in three years, however, markets focused on services inflation, which remains far from the Bank of Englands targets, in...
A beginner's guide to starting your trading journey
A beginner's guide to starting your trading journey
Jun 19, 2024
Are you ready to take your first steps into the exciting world of trading? As a beginner investor, starting your trading journey can seem intimidating, but with the right guidance and resources, you can navigate the markets with confidence. In this blog article, we will provide you with valuable insights and tips on how to begin your trading journey successfully....
Yen trades near six-week lows as US yields rebound
Yen trades near six-week lows as US yields rebound
Jun 20, 2024
Yen declined in Asian trade on Thursday against a basket of major rivals, extending losses for the sixth straight session and almost touching six-week lows as US treasury yields rebounded. The recent Bank of Japans policy meetings minutes showed the BOJ discussed the impact of yens weakness on prices, with governor Kazuo Ueda opening the door for a rate hike...
UK Inflation Hits Bank of England Target – What Now?
UK Inflation Hits Bank of England Target – What Now?
Jun 19, 2024
UK CPI hits BoE target – both core and headline figures print in line with expectationsWhy the Bank of England won’t be eager to cut interest rates as early as tomorrowThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library UK CPI Hits Bank of England...
Copyright 2023-2025 - www.financetom.com All Rights Reserved