See how 20 billionaires have more money than the US Treasury! The list is headed by names such as Elon Musk, Jeff Bezos and Bill Gates. According to CNN, the Treasury currently has just $38.8 billion, well below some fortunes. Check out the details!
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The US Treasury’s cash reserves are dwindling
The country’s Treasury Department’s cash holdings continue to fall, but that of multimillionaires and the coveted billionaires continue to increase. A vote on a bipartisan agreement to raise the sovereign debt ceiling is expected.
Billionaires outperform the US government
According to Bloomberg Billionaires Index financial assets of billionaires are worth more than $38.8 billion. Topping the list is the world’s richest man, Bernard Arnault, chairman of luxury goods group LVMH, whose fortune is estimated at $193 billion.
Agreement on raising the debt ceiling
US President Joe Biden and House Speaker Kevin McCarthy agreed to increase the sovereign debt ceiling to get enough Republican and Democratic votes to pass the measure.
Treasury Secretary Janet Yellen reported that later this month the Treasury Department will most likely run out of funds to meet its government obligations.
Top rich people who outperform the Treasury
1. Bernard Arnault France $193 billion Industry: Consumer;
2. Elon Musk United States $185 billion Industry: Technology;
3. Jeff Bezos United States $144 billion Industry: Technology;
4. Bill Gates United States $126 billion Industry: Technology;
5. Larry Ellison United States $116 billion Industry: Technology;
6. Steve Ballmer United States $115 billion Industry: Technology;
7. Larry Page United States $112 billion Industry: Technology;
8. Warren Buffett United States $112 billion Industry: Other;
9. Sergey Brin United States $107 billion Sector: Technology;
10. Mark Zuckerberg United States $95.5 billion Industry: Technology;
11. Carlos Slim Mexico $92.2 billion Industry: Other;
12. Francoise Bettencourt Meyers France $88.1 billion Industry: Consumer;
13. Mukesh Ambani India $86.1 billion Industry: Energy;
14. Amancio Ortega Spain $67.8 billion Sector: Retail;
15. Jim Walton United States $66.8 billion Industry: Retail;
16. Rob Walton United States $65 billion Industry: Retail;
17. Alice Walton United States $64 billion Industry: Retail;
18. Gautam Adani India $62.9 billion Sector: Industrial;
19. Zhong Shanshan China $61.5 billion Industry: Other;
20. Jacqueline Badger Mars United States $61.4 billion Industry: Food & Beverage.