#forbes400 — Public Fediverse posts

#NFL owner Jed York of #BayArea 49ers football team arrested on #prostitution charge in #EastPalestine #Ohio... York had $160 seized by MVHTFF (Mahoning Valley Human Trafficking Task Force)" and his #criminal matter was reduced in a #pleadeal after paying $1150 fine, and has now been released from custody after one night in jail.

In 2023 John Edward York ( I.e Jed), was accused of securities fraud for unloading stock in an online education platform that enabled #cheating on exams. He's been married to a former school teacher since 2011 and has two sons who live with him in the family's estate in Los Altos hills California.

The 6th most valuable NFL franchise has had Jed acting as the principal owner and #CEO after being placed in that role in 2008 by his mother Denise DeBartolo York and her family, who who appear at No. 163 in the latest #Forbes400 from an estimated net worth of $8.4 billion mostly from the football team, and real estate development of shopping malls.

Jed's grandfather Eddie DeBartolo Jr had run-ins with the law as well and was ousted from leadership of the #SuperBowl contender team after being caught in an #FBI sting making bribes to the governor of Louisiana

https://www.usatoday.com/story/sports/nfl/2026/08/24/jed-york-san-francisco-49ers-arrest-plea/91441404007/ #FortyNiners #Crime #OnePercent #HumanTrafficking

“Always create more value than you capture”*…

There are, of course, myriad ways to rank people. Increasingly these days, the preferred scale seems to be one’s wealth. The Forbes 400, which ranks the richest Americans by their wealth, has become the scorecard of our zeitgeist. But one of its denizens (currently #4), Jeff Bezos, suggested in 2024, “somebody needs to make a list where they rank people by how much wealth they’ve created for other people.”

Sakshyam Patro has obliged…

… this is that list: [It ranks] founders by Wealth Created For Others (WCFO): the dollar value their companies generated for shareholders other than themselves…. every number traceable to an SEC filing, an academic dataset, or a named data source — refreshed every fifteen minutes while markets are open. Each figure is the shareholder wealth a founder’s company created, now held by index funds, pensions, employees and co-founders, minus what the founder kept. It’s not a claim that one person built the company alone…

See the list here. (Teaser: as of this writing, Bezos moves up one slot, from #4 to #3); the current Forbes #1, Elon Musk, drops to #28 (his wealth is $798B; his investors have lost $243B). And see the details of the methodology here.

Patro adds some important context– the first point especially:

• It is the Forbes billionaires list, re-sorted — not a ranking of humanity’s benefactors. The universe is living billionaires with a trackable public company. Norman Borlaug, Linus Torvalds, vaccine developers, and public-sector reformers created enormous value and belong at the top of a different list; they are absent here because they are not billionaires with public equity, not because the metric judges them small. This list answers exactly one question Bezos posed: among the people Forbes already ranks by personal wealth, who created the most for others versus kept for themselves?
  
• Not a measure of consumer surplus, wages, or societal value beyond shareholders (those are larger still — Nordhaus [see here] estimates innovators capture only ~2.2% of the social surplus they create — but they are not reliably measurable per person, so we do not headline them).
  
• Not a moral scoreboard. It measures one thing: dollars of shareholder wealth created beyond a risk-free benchmark, minus dollars kept.
  
• Not affiliated with Forbes or with any prior ranking site.

Ranked by the wealth they built for other investors: “The Anti‑Forbes List.”

To observe the obvious, the numbers at play here are big… so big as to be hard to understand. Amanda Shendruk urges us to make the effort and offers some helpful tips: “Understanding large values: It’s our ethical duty.”

* Tim O’Reilly

###

As we re-evaluate, we might recall that it was on this date in 1598 that Shakespeare’s The Merchant of Venice was entered on the Stationers’ Register. By decree of Queen Elizabeth, the Stationers’ Register licensed printed works, giving the Crown tight control over all published material. In those days, “copyright” mainly meant “the right to make copies”; secondarily, it conferred intellectual property rights (though in those days, mainly to the guild printers who got the permissions).

In some cases, the companies of actors appear to have registered plays through co-operative stationers, with the express purpose of forestalling the publication of a play when publication was not in their interest. This seems to have been the case with The Merchant of Venice and Shakespeare’s company, The Lord Chamberlain’s Men: the copyright was granted to James Roberts, who printed the company’s playbills and held copyrights on five of their plays (two by Shakespeare). But Roberts transferred the copyright to fellow stationer Thomas Heyes in 1600, and Hayes published first quarto edition of the play before the end of the year.

#Trump has largely done the same, claiming his father only gave him a “very small loan” that he turned “into a company that’s worth many, many billions of dollars.” However, as #KamalaHarris noted during Tuesday’s #debate, Trump’s companies have filed for #Chapter11 #bankruptcy protection SEVEN TIMES.

In 2021, Trump fell off the #Forbes400 list for the first time in 25 years. He returned to the list in 2022, but fell off again in 2023.

#FactCheck #TrumpLies #InheritedWealth #SelfMadeMyth

if #Trump was given the choice that if he slit his children's throats he could be back on the #forbes400, I think he would do it.

#MichaelJordan becomes first pro #athlete on #Forbes400 list

https://www.simplemost.com/michael-jordan-becomes-first-pro-athlete-on-forbes-400-list/

#JonathanGreenberg was the #Forbes journo who #Trump called & gave the name “John Baron” to in order to falsely attribute wealth to himself for the purpose of trying to get on the #Forbes400 list in 1984, there are tape recordings.

3/
#law #legal #Fraud #TrumpTrial
https://www.washingtonpost.com/outlook/trump-lied-to-me-about-his-wealth-to-get-onto-the-forbes-400-here-are-the-tapes/2018/04/20/ac762b08-4287-11e8-8569-26fda6b404c7_story.html

👀 👀 👀

Melissa Murray (guest hosting for Ari Melber) interviewed #JonathanGreenberg about #Trump’s #civil #fraud #trial & his removal from the #Forbes400.

Greenberg:
“…in (Engoron’s) order today they ordered him to disclose secret equity partners in any of the interests in his NY properties, now I’ve been theorizing for years now, w/2 other editors & 2 other journalists, that Trump has these other investors, that his piece of the equity is not really his piece, that he has loaned it out.

1/

How many other #FakeBillionaires have been on the #Forbes400 all these years? 😂

https://www.theguardian.com/us-news/2023/oct/04/trump-forbes-400-list-2023-billionaires

ICYMI, #Trump dropped from #Forbes400 list of wealthiest Americans. 🤣🤣🤣🤣
https://www.dailykos.com/stories/2023/10/4/2197306/-Trump-suffers-further-humiliation-gets-dropped-from-Forbes-list-of-400-wealthiest-Americans?pm_campaign=front_page&pm_source=top_news_slot_1&pm_medium=web

@Free_Press

From @Forbes:

“#Trump is no longer rich enough…. …He is $300 million shy (estimated because who knows?) of the cutoff for The #Forbes400 ranking of America’s richest people, the annual measurement that Trump has obsessed over for decades, relentlessly #lying to reporters to try to vault himself higher on the list.”

https://www.forbes.com/sites/danalexander/2023/10/03/donald-trump-drops-off-the-forbes-400-for-second-time-in-3-years/