The cash balance at the Treasury Department is now lower than the net worth of some of the world’s richest people.
The Treasury Department said its cash balance fell to $38.8 billion as of Thursday, as the United States inched toward running out of cash to pay its bills.
That was significantly lower than the $316 billion the department had in operating cash, which is held at the Federal Reserve Bank of New York, at the start of the month.
Just how empty is the Treasury cash coffer? For comparison, $38.8 billion is on par with the gross domestic product of Bahrain and Paraguay and lower than the net worth of more than two dozen of the wealthiest people in the world. Of course, much of the assets of those billionaires are tied up in stocks, rather than liquid assets.
Here is a list of people with higher net worths than the U.S. cash reserves, according to Bloomberg News’s Billionaire Index as of Thursday. (Under the news agency’s editorial policy, its billionaire owner, Michael Bloomberg, is not considered for the index. Forbes, though, estimates his net worth at $94.5 billion.)
Bernard Arnault, chief executive of the luxury group LVMH: $189 billion
Elon Musk, chief executive of SpaceX, Tesla and Twitter: $179 billion
Jeff Bezos, founder and chief executive of Amazon: $139 billion
Bill Gates, co-founder of Microsoft: $125 billion
Larry Ellison, co-founder and executive chairman of Oracle: $116 billion
Steve Ballmer, investor and former chief executive of Microsoft: $113 billion
Larry Page, co-founder of Google: $112 billion
Warren Buffett, investor: $111 billion
Sergey Brin, co-founder of Google: $106 billion
Mark Zuckerberg, co-founder and chief executive of Facebook: $92.3 billion
Carlos Slim, investor: $90.3 billion
Françoise Bettencourt Meyers, heir to the L’Oréal fortune and company board member: $87.2 billion
Mukesh Ambani, chairman of the energy group Reliance Industries: $83.7 billion
Amancio Ortega, founder of the Inditex fashion group: $67.1 billion
Jim Walton, heir to the Walmart fortune: $66.6 billion
Rob Walton, heir to the Walmart fortune: $64.9 billion
Alice Walton, heir to the Walmart fortune: $63.8 billion
Gautam Adani, founder and chairman of the Adani Group conglomerate: $63.4 billion
Jacqueline Mars, heir to and co-owner of the candy maker Mars: $61.7 billion
John Mars, heir to and chairman of Mars: $61.7 billion
Zhong Shanshan, founder and chairman of the bottled-water company Nongfu Spring: $61.6 billion
Julia Flesher Koch and family, heirs of the businessman David Koch: $60.6 billion
Charles Koch, chief executive of the industrial conglomerate Koch Industries: $60.4 billion
Michael Dell, chief executive and chairman of Dell Technologies: $53.4 billion
Alain Wertheimer, co-owner and chairman of Chanel: $45.9 billion
Gérard Wertheimer, co-owner of Chanel: $45.9 billion
Giovanni Ferrero, executive chairman of the chocolate and confectionery company Ferrero Group, and family: $43.6 billion
Zhang Yiming, founder and chief executive of the technology company ByteDance: $42.3 billion
Phil Knight, co-founder of Nike, and family: $41.5 billion
Klaus-Michael Kühne, honorary chairman and majority owner of the transport company Kuehne+Nagel: $40.9 billion
François Pinault, founder of the luxury group Kering: $39.6 billion
Source: Economy - nytimes.com
