Violins Please...World’s Richest Lose $24 Billion As Adelson Fortune Drops

[kpete]

World’s Richest Lose $24 Billion As Adelson Fortune Drops
By Devon Pendleton - Jun 1, 2012 3:16 PM PT

The world’s richest people lost a combined $24.4 billion this week as concerns over Spain’s rising borrowing costs and the sputtering American job market caused global markets to tumble.

Casino mogul Sheldon Adelson lost $2.2 billion. Shares of his Nevada-based Las Vegas Sands Corp. (LVS) fell 10.3 percent during the week. On Friday, Macau casinos reported gambling revenue rose 7.3 percent in May, its slowest pace since July 2009. Adelson, 78, is the 22nd richest person in the world, according to the Bloomberg Billionaires Index.

“We seem to be bogged down in a very sluggish pattern,” John Carey, who helps oversee about $220 billion at Pioneer Investments in Boston, said in a telephone interview on June 1. “The jobs report was discouraging, and it’s been discouraging the past several weeks. It reaffirms this fear that the economy is slowing.”

The Dow Jones Industrial Average erased its 2012 gain after U.S. employers created the fewest jobs in a year and Chinese manufacturing slowed. The Standard & Poor’s 500 Index sank 2.46 percent on June 1, to close at 1278.04 in New York, its biggest drop since November.

More:
http://www.bloomberg.com/news/2012-06-01/world-s-richest-lose-24-billion-as-adelson-fortune-drops.html

[Initech]

1. No pity from me.

[Whisp]

2. awww, now they can't buy that country that they so wanted...

would have gone SO good with the sofa.

[Egalitarian Thug]

3. Couldn't happen to a more deserving bunch. Unfortunately it accompanies some pretty disturbing

indications of where we're heading.
K&R

[marlakay]

4. Too bad soo sad….

none of us 99%er's are going to cry over that….

[L0oniX]

5. Oh noes ...it's destroying the job creators. pfffft ...smell it!

...and those investment banks can go f*ck them selves too ...they don't create real blue collar jobs.

[MannyGoldstein]

6. Austerity takes more of a toll

By fucking the 99% with austerity, thy're fucking themselves too.

It's like parasites who get too greedy - the host dies, then they have nothing to feed off of.

[annabanana]

7. And he STILL doesn't miss the $ he poured down

the newt-hole.