September 23, 2010 |
The super-rich got richer, but not so much in the Philadelphia area, according to Forbes' new list of the wealthiest Americans. No new local names joined the four from last year, and the quartet's estimated collective worth was up less than 3 percent. Nationwide, however, the Forbes 400 Richest Americans saw their portfolios bulge by 8 percent, as the cutoff to join the club rose to $1 billion from $950 million. Microsoft founder Bill Gates was still No. 1, but his wealth rose from $50 billion to $54 billion, while investment mogul Warren Buffett, the runnerup again, didn't close the gap enough, as his fortune went from $40 billion to $45 billion.
July 26, 1986 |
The concentration of wealth in the hands of a very few has increased dramatically in the United States, a new study says. The "super rich" - the top one-half of 1 percent of the population - held 35.1 percent of the nation's wealth in 1983, according to a survey by the Joint Economic Committee of Congress. That figure was an increase of nearly 10 percentage points from 20 years earlier, when the super rich had just 25.4 percent of the nation's wealth. Although the study does not show the rest of the population getting poorer as a result, "it is proof that the rich get richer," said Rep. David R. Obey (D., Wis.)
October 7, 2013 |
Last of three parts "It could be a kiss-off gift," says the cultural leader of a $10,000 check that had recently arrived in the mail. It would be a nice chunk of change for any Philadelphia arts and culture group, this 10K, except when you realize that the donor who sent it is worth several billion dollars. Relatively speaking, it's the same as someone with $100,000 in the bank sending a check for $3. This donor hasn't emerged as one of Philadelphia's great philanthropic leaders, despite his capacity.
May 13, 2007
Still figuring out to whom you want to give your vote Tuesday? The Great Expectations Web site, http:/go.philly.com/great expectations, offers a wealth of helpful material: Audio of mayoral and City Council candidate interviews, and City Council candidate debates. An archive of endorsements. An electronic debate between the First District candidates.
January 6, 1999 |
Sharing the wealth with his loyal subjects, Alex De Flavis, playing the part of Balthazar, distributes candy to students after a program at Sumner Elementary School in Camden. De Flavis visited yesterday as part of Three Kings Day, the 12th day of Christmas, on which gifts are traditionally given to children.
June 6, 1993 |
A wealth of African culture was presented yesterday at the African Marketplace, which was held at the Afro-American Historical and Cultural Museum. Radio personality Georgie Woods was on hand to mark his 40th year in broadcasting.
March 23, 2012 |
Do the wealthy lie, cheat, and steal more than others? The answer appears to be yes, in certain circumstances. The research supporting this conclusion was conducted not by Occupy Wall Street, but at the University of California, Berkeley, where social psychologist Paul Piff led a team that devised a series of experiments to assess the effect of wealth on ethical behavior. Their paper, published last month in the Proceedings of the National Academy of Sciences, suggests the rich are more likely to cut corners when confronted with a number of ethical challenges.
August 28, 1986 |
The Joint Economic Committee of Congress, which announced last week that it had made a mistake in a survey about the increasing concentration of wealth in the United States, said yesterday that it had mistakenly reported its mistake and that its original mistake was no mistake at all. Clear? If not, then it's back to Square One in the case of the missing $198 million. On July 25, the committee reported that the concentration of wealth in the hands of a few had increased dramatically, with the super rich - the top one- half of 1 percent of the wealthiest Americans - holding 35.1 percent of the nation's wealth in 1983.
September 17, 2010 |
WASHINGTON - Americans' wealth shrank in the spring for the first time since early 2009 as financial turmoil eroded stock portfolios. The Federal Reserve says household net worth fell 2.7 percent - or $1.5 trillion - in the April-to-June quarter. The decline left Americans' net worth at $53.5 trillion. Shriveled stock portfolios were the biggest force dragging down wealth. Wall Street was shaken by fears over Europe's debt crisis. Since then, stocks have recovered most of their losses from the April-June quarter.