The Hidden Billionaires: Beyond the Forbes List and the Complex World of Invisible Wealth
I was telling a friend that we are in a new year and Forbes would be looking to list Billionaires again. Remember that there are over 730 billionaires in the United States alone with Billionaires all around the world.
Forbes are able to list these billionaires by looking at public financial records, Interviews with the Billionaires, Employees, rivals, accountants, and attorneys. While some billionaires give them the chance to interview them and open up about their wealth, a lot of them do not want to be public. They do not want people to look under the hood so they find ways to hide their money from the public as a result of taxation.
The truth is most of this net worth are just guesses and although these guesses show us a line where we should look, there are a lot of billionaires that should be on the list but aren't there, and would never show up in the list
One group of people that will not make up that list are Government persons that look like they own their country and use the country's money like it is theirs alone. I am talking about people like Vladimir Putin, Kings and Princes of Arab countries, and so on. Let's leave that for now.
There are Billionaires that want o be known, there are those who are known now because their companies became very popular, and there are billionaires that are only known to their families, accountants, attorneys, and the Internal Revenue Service.
Billionaires that stay off the media do so to avoid the public nuisance that comes with it. They do not like the public problems that come with this type of fame such as harassment from people who want to beg for money, people who willing to sue them for anything because they now know they are rich and want to get a piece of that pie, and family members pitching them business ideas that might not be successful over dinner. I did not include the harassment from people who are just bitter because you are a billionaire, or people who would want to kidnap you because you are rich.
Another deterrent for many billionaires from appearing on such lists is the desire to dissociate from the negative publicity that sometimes accompanies them. Forbes has faced criticism in the past for featuring individuals in their rankings, like the “30 under 30”, who were later exposed as frauds. This has raised questions about the magazine's vetting process. Furthermore, some believe that spots on these lists can be bought, tarnishing the list's credibility. Indeed, several previously listed individuals have ended up behind bars, involved in scams, using their Forbes feature as a façade for legitimacy
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In other for a lot of billionaires not to fall into the Forbes list, they would ensure that if they are to make money from business sales, it is a private business sale and not a public one. Also, when they want to invest in any public company, they ensure they do not buy up the amount that will make their investment public notice. They ensure they are not one of the largest shareholders in the company and wouldn't buy up to a certain percentage that will put them in the light.
The world of billionaires is complex and multifaceted. While Forbes attempts to shine a light on these individuals, the reality is much more nuanced. Many billionaires prefer to operate in the shadows, avoiding the complications that come with public recognition. Their reasons vary, from personal security concerns to a desire to maintain a low profile amidst a landscape where wealth can attract both admiration and animosity. As Forbes continues to compile these lists, it's clear that they only scratch the surface of a much deeper and less visible world of wealth.
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