What if a billionaire does not want to be in Forbes list of billionaires?
May 20, 2010 - 8:48 am
Every year Forbes updates a complete list of billionaires around the world,but what if some billionaire does not want to be in that list.
Lets say that some billionaire does not want to be famous or is afraid that he will get kidnapped,can he tell Forbes not to put his name on the list?
There are ways to hide money and put it in tax free areas, ie charity foundations. Also, forbes does not get the exact number as they do not have the specific amount of assets and liabilities that compile a net worth. This would be a great problem to have and I’m sure that there are many billionaires that are not on the list because of the reasons you said.
May 20th, 2010 at 2:33 pm
There are ways to hide money and put it in tax free areas, ie charity foundations. Also, forbes does not get the exact number as they do not have the specific amount of assets and liabilities that compile a net worth. This would be a great problem to have and I’m sure that there are many billionaires that are not on the list because of the reasons you said.
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May 20th, 2010 at 2:40 pm
You are asking an interesting question.
The question has a lot to do with privacy and invasion of privacy. Can they really check and report his bank accounts? Is it an issue of public interest if the billionaire decided to buy his/her spouse a one million dollar ring?
Well, as it appears, billionaires typically make their money through business. Corporations, especially large or public corporation, have certain reporting requirements. They report assets, revenues, losses etc.
In addition – real estate gets recorded. Anyone can log, order or view a public record which pertains to the ownership of a real estate property.
Thus, the rating is done mostly through all of those things which are a matter of PUBLIC knowledge.
And to your question – can a Billionaire prevent Forbes from publishing it? So long as it is not a matter of invasion of privacy, it’s hard to believe. Freedom of Speech takes precedent it seems, so long as the publishing of the information wasn’t unlawful.
Important to say – we are not attorneys. You may want to get a real legal opinion about it.
From the owners of http://www.overstockssurplusliquidations.com
References :
From the owners of http://www.overstockssurplusliquidations.com