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And we thought the economy was bad for us...

And we thought the economy was bad for us... iMedia Editors

Despite the horrifying rollercoaster ride going on right now in the world economy, it gave me pause (and an inkling of comfort) to read a story on Forbes.com about how some of the wealthiest individuals and corporations have fared over the last 12 months -- and the news wasn't good, as we all know.

The Forbes piece, written by Matthew Kirdahy, stated that among some of the richest Americans, a group of them had lost an average of $1,000 every 1.6 seconds, or $633.78 per second.


News Corp. CEO and legendary grump Rupert Murdoch saw his fortune take a $2 billion hit, reduced to a meager to $6.8 billion, which tallies out to losing $1,000 every 15.78 seconds, or $1.5 million every hour.

Big ouch!

Financial baron Warren Buffett saw his fortune decline by $2 billion in the last year to $50 billion. Kirdahy calculates that loss to be $1,000 every 15.78 seconds.

Other honorable mentions included Charles Ergen, CEO of DISH Network, who in the last year lost $1,000 every 15.03 seconds, or roughly $66.55 every second.

And Sheldon Adelson, CEO of the Las Vegas Sands, saw his company shares fall 65 percent from a year ago, averaging out to a loss of $1,000 ever 2.4 seconds, or $411.95 per second.

On a more optimistic note, Michael Dell, of Dell Computer, actually made $100 million over the last 12 months, earning $1,000 every three minutes and 20 seconds, or $3.17 per second.

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