The Super Rich are Feeling the Credit Crunch Too
Well, now you can take comfort in knowing that you and I are not the only ones feeling the credit crunch. The mega rich and billionaires are getting squeezed too.
For a long time, James Packer was the richest man in Australia. His father, Kerry Packer, was a media mogul. They were so rich that every year, for 21 years straight, either James or Kerry were numero uno on the rich list in Australia.
Over the past year James Packer has seen his assets cut in half, from AUD $6 billion to $3 billion, and that number is still falling. His playboy lifestyle isn’t quite what it use to be. Up until recently he owned the world’s largest open yacht – complete with 9 bedrooms and even an onboard Aston Martin V12 Vanquish – but that’s now been sold. So has his $38 million luxury condo. As for his $60 million custom Boeing jet that he ordered? Well let’s just say delivery of that has been postponed. Not even his black Amex can bail him out of this one. Although he still has a lifestyle we can only imagine in our wildest dreams, at least you can take comfort in knowing you aren’t the only one who has been feeling the credit crunch.
Sorry but even the suffering the rich are seeing right now doesn’t compare to everyone else. We are struggling with bare survival with things like mortgage, food, medicine (I can’t afford my prescription asthma meds which I need!) and other essentials. The rich are still getting everything they need and then some. They aren’t suffering.
I think everyone is feeling it and those at the top might have more to lose!!
Am I supposed to feel sorry for this guy????
Good I hope they do feel it!
When I see this guy unable to afford to put food on the table or pay the rent like I have to deal with every month, then I’ll say he’s feeling the credit crisis.