Quiet wealth in Metro Detroit? 9-figure families still left?

[MotorCityTrikes]

I wish I could run into to one of 'em. With all the talk about the resurgence of Detroit I need help with my new Trike project.

[gumby]

Is no one else bugged by a Metro Detroit list that contains people from Grand Rapids, Holland and Kalamazoo?

[Bham1982]

I never knew tax information was public on capital gains. Can you show me the billionaire list.

What is the point of this statement?

I never said there was a public website indicating taxes paid by household; I said that billionaires don't hide in plain sight, because their assets are subject to taxation. There are likely no "hidden billionaires". You can't even park your assets in tax shelters anymore. Places like Switzerland and the Caymans have disclosure agreements with the U.S., so unless you're burying cash in the back yard, good luck on anonymity.

[NoHeartAnthony]

I'm bugged that Downriver gets the short end of the stick again. No one from Grosse Ile?

[Hermod]

What is the point of this statement?

I never said there was a public website indicating taxes paid by household; I said that billionaires don't hide in plain sight, because their assets are subject to taxation. There are likely no "hidden billionaires". You can't even park your assets in tax shelters anymore. Places like Switzerland and the Caymans have disclosure agreements with the U.S., so unless you're burying cash in the back yard, good luck on anonymity.

No, most billionaires are known to the IRS and to their brokerage houses. They live quietly and do not flaunt their wealth. All rich people are not like Donald Trump. They will drive a Caddy, Mercedes, or Bimmer and not a Ferrari or Rolls-Royce. Their house will be secluded and set back from the road.

[aj3647]

Possibly 9-figures:

None of those people even comes close to a billion. Eminem is worth about $150 million. Kid Rock and Seger clock in at about $40 million.

Entertainers almost never reach nine figures. Even mega-stars like Jay-Z and Madonna are only worth about half a billion. Michael Jackson was worth about a billion dollars, but other than him, you'd be hard-pressed to name another entertainer who even comes close to that.

[belleislerunner]

You should spend less time wondering who the people are with X figures after their names and spend your time/energy focusing on becoming that person. Misplaced priorities.

[Cliffy]

What is the point of this statement?

I never said there was a public website indicating taxes paid by household; I said that billionaires don't hide in plain sight, because their assets are subject to taxation. There are likely no "hidden billionaires". You can't even park your assets in tax shelters anymore. Places like Switzerland and the Caymans have disclosure agreements with the U.S., so unless you're burying cash in the back yard, good luck on anonymity.

Because you're still implying that the public knows all the billionaires out there. The IRS is not the public nor is your private banker. Their are people out there that have more money than Bill Gates and we have no clue who they are.

[Hermod]

Because you're still implying that the public knows all the billionaires out there. The IRS is not the public nor is your private banker. Their are people out there that have more money than Bill Gates and we have no clue who they are.

I don't think there are unknown people richer than Bill Gates, but I do think that people with 8 and 9 figure wealth are there who pass quietly under the radar. They just don't want to call attention to themselves by "living large".

bbvh

[313WX]

I'm bugged that Downriver gets the short end of the stick again. No one from Grosse Ile?

Downriver is Blue Collar. The real wealth is in the hand of the White Collar guys.

[Gistok]

Downriver did have the late Heinz Prechter, who's widow Waltraud inherited his fortune.

Another name missing [[I didn't see it) was Maggie Allesee, the wife of "Bob Allison"... she inherited a sizeable fortune from her first husband, and has been one of the biggest donors to WSU and to Detroit's cultural institutions.

Also, when it comes to money in metro Detroit... don't forget the sizeable Kresge, Skillman and Hudson-Webber foundations.

[AuburnSpeedster]

What about Detroit proper? Do you think there are ANY people left there that are at say... 8 figures?

[Bham1982]

Because you're still implying that the public knows all the billionaires out there. The IRS is not the public nor is your private banker. Their are people out there that have more money than Bill Gates and we have no clue who they are.

You're free to your opinions, as odd as they may be. If you really think people bury billions of dollars in their back yard, then go with that. In the real world, people with that kind of money have it parked somewhere, and regulatory agencies can track capital flows. Even drug kingpins and global rogues have estimated net worths with some degree of certainty.