Elon Musk owns twice that with a fortune estimated at $190
Cash levels at the US Treasury are falling dangerously low as Washington waits until the last minute to raise the debt ceiling.
As of the May 25 business close, the Treasury Department had just $38.8 billion in cash, according to the latest federal data. That’s down from more than $200 billion earlier this month and close to the $30 billion minimum.
For comparison, the 31 billionaires are worth more than the $38.8 billion in cash held by the federal government, according to the Bloomberg Billionaires Index.
Some of them, such as fashion mogul Bernard Arnault, whose fortune exceeds $ 192 billion, electric car billionaire, Elon Musk, whose fortune is $ 190 billion, and Amazon founder Jeff Bezos’ net worth is $ 145 billion.
The list of 31 billionaires whose wealth exceeds the total amount of cash owned by Uncle Sam includes family names such as Michael Dell, investor Warren Buffett, Facebook co-founder Mark Zuckerberg, as well as lesser-known billionaires such as French billionaire Francois Pinault and Chairman of the Board of Directors. Chanel, Alain Wertheimer.
It is noteworthy that US President Joe Biden and House Speaker Kevin McCarthy reached an agreement to suspend the debt ceiling until January 1, 2025.
If Congress does not raise the debt ceiling by June 5, Treasury Secretary Janet Yellen warns that the government will not have enough money to pay all of the nation’s obligations in full and on time.
#Americas #economy #billionaires #wealth #exceeds #levels #cash #treasury
2023-05-31 08:38:30
