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THURSDAY, NOVEMBER 26, 2009
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Against All Odds, Bloomberg Got Richer in 2008

New York mayor got wealthier as rest of rich list top 20 got poorer

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(Newser) – How does he do it? Last year was so bad for the world's billionaires that a third of them were demoted to mere multi-millionaires but Michael Bloomberg bucked the trend big time by actually increasing his wealth, the New York Daily News reports. The New York mayor, with an estimated net worth of $16 billion, is now the 17th-wealthiest person in the world, according to the latest Forbes rich list.

Bloomberg—the only person in the top 20 whose net worth went up in 2008—"is now the richest man in New York City," said a Forbes editor, who added that the financial meltdown was swiftly turning America into a "wealth wasteland."

Mayor Michael Bloomberg speaks about the New York City economy in light of the Lehman Brother's bankruptcy filing last year.
Mayor Michael Bloomberg speaks about the New York City economy in light of the Lehman Brother's bankruptcy filing last year.   (AP Photo/Seth Wenig, file)
New York Mayor Michael Bloomberg presents his city budget proposal in New York's City Hall earlier this year.
New York Mayor Michael Bloomberg presents his city budget proposal in New York's City Hall earlier this year.   (AP Photo/Richard Drew, Pool)
A third of the people who started 2008 as billionaires, including Facebook founder Mark Zuckerberg, were mere multi-millionaires by the year's close.
A third of the people who started 2008 as billionaires, including Facebook founder Mark Zuckerberg, were mere multi-millionaires by the year's close.   (AP Photo/Craig Ruttle)
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2 comments
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bacimom
Mar 12, 09 11:22 AM CDT
Gee, he managed that while taking something like $1.00 salary. Maybe his way of living... subways to work, charitable and philanthropic giving, human decency actually is the right way... not the way of those in the Southernmost part of Manhattan Island. Reply
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riffran
Mar 13, 09 5:52 AM CDT
no he actually made his money exploiting the poor, and his wealth needs to be re-redistributed. ..lol... Reply
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