Forbes seems to have the rights on the list ranking the ultra rich in America. They have been the only ones releasing a list every year since 1982. But there have been developments that indicate that their monopoly might end in the near future. Bloomberg News is expected to announce, anytime soon, that it has hired Forbes veteran Matthew Miller to be editor-at-large in charge of its expanded coverage of the world’s wealthiest individuals.
It is expected that Miller might be asked to launch a ranking of the world’s rich. People in the know say that putting in place the project might take time and the list could appear in 2012. Logically the list should appear in the Bloomberg Markets Magazine which has a large affluent readership. Mr. Miller in his seven years at Forbes edited the Forbes 400 list of richest Americans and co-edited the World’s Billionaires.
The list is still the driving force for Forbes and attracts a huge traffic to its website. It has become an annual ritual. Preparing the list though, is not as simple as it may sound to some. Getting reliable information on the wealth of the rich is easier said than done. Rich people can easily disguise their debt, valuations and ownership stakes. But Bloomberg with 1,900 journalists around the world is better equipped to prepare an authentic list of the rich.