It Was Only a Paper Loss--of Half a Billion
Sam Walton, identified by Forbes magazine as the nation’s wealthiest man, shrugged off the more than half a billion dollars he lost in Monday’s stock market plunge.
“It’s paper anyway,” Walton, the founder and largest shareholder of Wal-Mart Stores Inc., said. “It was paper when we started and it’s paper afterward.”
Other big losers included Leslie Wexner, head of the Limited Inc., $195.7 million; Seagram Chairman Edgar Bronfman, out $126.3 million; Ted Arison of Carnival Cruise Lines, $34.3 million; William Hewlett of Hewlett-Packard, $265.9 million, and Anheuser-Busch Chairman August Busch Jr., $189.4 million.
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