Monday, September 25, 2006

Forbes' Billionaires Nearly Double in New York City

According to the most recent "Forbes 400" report, the number of billionaires in New York City increased from 28 to 45 over the last year, with their total net worth at approximately $60.4 billion. The 1.7 million residents living below the federal poverty line earned a total of approximately $3.45 Billion. New York City now has 3% of the nation's overall population, 4% of the nation's people living in poverty, and 11% of the nation's billionaires. WNYC also noted that this is the first year that all 400 richest Americans are billionaires.

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