Sunday, June 23, 2013

Andrew Carnegie is among history’s richest men, he was valued at almost half a billion dollars at his death in 1919. Corrected for inflation, his wealth would certainly sum above $90 billion at present. His contemporary, John D. Rockefeller, was much wealthier, owning accumulated wealth value greater than $1.4 billion (between $231 moreover $330 billion in today’s money) when he passed away in 193. 

Rockefeller’s wealth accounted for 1/65th of the nation’s gross domestic product (GDP) as well as was sufficient ( had he been so inclined ) to supply each person in the United States with $10 ( a princely amount in a point in time when steak could possibly be purchased at $0 .20 a pound including a gallon of Rockefeller’s extremely productive gasoline was a penny ) . Rich enough to provide old Scrooge McDuck a run for his money, these guys as well as their pals formed the tech titans at present appear absolutely impoverished .However even in a world haunted by the twin specters of austerity and sequesters, these latter-day denizens of the financial heights (companies with empires comprise of silicon and data rather than oil and steel) were able to generate positively massive piles of money. 

Seeing that the United States overall economy struggles back from the most terrible economic downturn since Rockefeller’s period, federal belt-tightening has improved domestic restoration while the continuous return of consumer confidence has offered modern technological megaliths massive profits. 

All together , the top five tech companies Apple, Microsoft, Google, Oracle and Cisco have a cash excess of $333 billion , or even sufficient to provide each man , woman , and child on the planet nearly $50 .


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