Billionaire yacht fire sale

Author:
Publish date:

It appears even the super-rich are not immune to the worldwide economic downturn.

A report in The Economist cites that business magazine Forbes found the number of billionaires has fallen to 793 from 1,125 last year, while the total billionaire wealth has taken a hit of about $2 trillion. As a result, on the block are billionaire toys such as megayachts, hotels, private jets and even a soccer team.