On the one hand you’ve lost billions; on the other hand, you’re still a billionaire.
John Paulson’s gold fund fell 16% in September and is down 62% year-to-date, according to an investor report obtained by Bloomberg. Much of that particular fund is owned by Paulson himself. Paulson’s wealth has declined $2.5 billion this year but he’s still the 125th richest person in the world at $9.4 billion, according to Bloomberg.
To put that kind of wealth into perspective, McDonald’s total revenue (all the money at entered the cash registers) in Q3 was $7.2 billion. Basically, he could have paid for every meal sold at McDonald’s for the past 3 months and still be a multi-billionaire.
Then again, that kind of loss isn’t even close to what Brazilian billionaire Eike Batista has suffered. Around this time last year, he was the seventh-richest person in the world and now he’s near bust — losing an estimated $34.5 billion in the past 18 months. Now that’s gotta hurt.
