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The global economic crisis has hit home for Tom Friedman. When the New York Times columnist married heiress Ann Bucksbaum in 1978, he joined one of America’s richest families: The Bucksbaums founded General Growth Properties, the shopping mall giant worth an estimated $4 billion just two years ago…
But their retirement fund probably just got smaller. In one of the largest real estate failures ever, GGP filed for Chapter 11 last week, and the Bucksbaum family fortune is now down to a measly $25 million.
Estimated total value in December 2007 of the family fortune of Thomas Friedman’s wife: $3,500,000,000
Percentage change in the value of that fortune since then: –97
More from Ken Silverstein:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Rolls of toilet paper Chicago’s city government has produced this year from recycled City Hall wastepaper:
Two thirds of U.S. teenagers experience uncontrollable rage.
Russia lost, then regained, contact with a satellite carrying five geckos sent to copulate in zero gravity.
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“I hope that after reading the following pages the leaders of the Y. M. C. A. will start a campaign to induce good young men to do nothing. If so, I shall not have lived in vain.”