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And because some of their income was paid in company stock, their own net worth has dropped along with the stock's value.
The recent clearly overpriced acquisitions added $1.9 billion of goodwill to the company's books and Sunbeam's net worth has dropped from $500 million to a negative $600 million.
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With few companies adding jobs and Americans' net worth having dropped more than 20percentt in the last two years, the coming months are likely to feel like a slump even if the economy is gradually improving.
According to his biographer Robert Skidelsky, Keynes's losses in the commodities markets forced him to liquidate many of his British stocks in a falling market, and by the end of 1929 his net worth had dropped from £44,000 (almost two million dollars in today's money) to just £7,815.
However, a follow-up personal financial statement showed that as of last June 30, his net worth had dropped to $163.4 million".
But compared with the country at large, where the median net worth is $100,000 and has dropped significantly since 2004, he and most of his fellow lawmakers are true aristocrats.
The real net worth of the "bottom" 90 percent has dropped by one-fourth.
But it's worth noting that that number has dropped over the past week or so, from eighty per cent.
There are indeed two Americas and two economies: one in which a conservative titan like Sheldon Adelson and his relatives blithely funnel $21 million toward the lost cause of Newt Gingrich, and another in which the median net worth of an American family has dropped to $77,300, which is roughly where it was in the early 1990s.
This performance is even more impressive when you recall that last year Oracle's Larry Ellison was almost neck-and-neck with Gates in personal net worth, but Oracle's stock price has dropped by two thirds in the past ten months, and Ellison's estimated net worth is now $26 billion.
The net worth of households headed by people 44 and younger has dropped more over the past decade than the net worth of middle-aged and elderly households, according to the Federal Reserve.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com