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Could America's Uber-Rich Pay Down the Nation's Debt?
By Erik Berte Forty of America's wealthiest families and individuals have pledged to give away at least half of their money to charity. Would they have enough dough to pay down our country’s debt? Could New York City Mayor Michael Bloomberg afford to pay the interest on U.S. debt?  FOX Business explores.

Berkshire Hathaway CEO Warren Buffett

$47 billion estimated net worth

The Chairman and CEO of Berkshire Hathaway, Warren Buffett, helped launch The Giving Pledge. But even if he wanted to, the Oracle of Omaha wouldn't make a dent in America's national debt, rated at $13.3 trillion as of 5PM EDT according to USDebtClock.org. Indeed, his entire estimated net worth of $47 billion would pay off just about 0.0035% of that debt.

Source: Forbes.com
Photo Credit: Reuters

New York City Mayor Michael Bloomberg

$18 billion estimated net worth

Mayor of New York City and founder of Bloomberg News Michael Bloomberg worked to ban trans fats in New York City; maybe he could do the same with pork... government pork, that is. Bloomberg could use his estimated net worth of $18 billion to pay off the costs of federal earmarks, which are currently at $17.8 billion in the federal budget, according to USDebtClock.org.

Source: Forbes.com
Photo Credit: Reuters

Diane von Furstenberg

$1.2 billion estimated net worth

Fashion designer Diane von Furstenberg has an estimated net worth of $1.2 billion. With that amount of money, she could make the first out of more than 1000 payments on the current federal budget deficit of $1.4 trillion, according to USDebtClock.org numbers. You can dress up that number all you want, and it still won't be pretty.

Source: Forbes.com
Photo Credit: Reuters

Oracle CEO Larry Ellison

$28 billion estimated net worth

Larry Ellison, Founder of Oracle Corporation, makes a pretty penny or two, with an estimated net worth of $28 billion. But it would take 29 Larry Ellisons to pay for all the credit card debt in the nation, which USDebtClock.org pins at at $812 billion.

Source: Forbes.com
Photo Credit: Reuters

George Lucas

$3 billion estimated net worth

Founder of Lucasfilm LTD and famed director, George Lucas's film "Star Wars: Attack of the Clones" had a budget of $115 million. Lucas could have made that film 1730 times with the cost of interest on the U.S.'s debt, which is $198.9 billion, according to USDebtClock.org.

Source: Forbes.com
Photo Credit: Reuters

T. Boone Pickens

$1.1 billion estimated net worth

Oil tycoon T. Boone Pickens, with his estimated worth of $1.1 billion, could use his money to pay down the total personal debt of about 20,755 people. The average total debt per citizen in the U.S, according to USDebtClock.org, is about $53,000.

Source: Forbes.com
Photo Credit: Reuters

Microsoft Chairman Bill Gates

$53 billion estimated net worth

Co-founder of Microsoft Corporation Bill Gates, who joined up with Warren Buffett to set up The Giving Pledge, has an estimated net worth of $53 billion. But even the former richest man in the world (recently surpassed by Carlos Slim) only has enough cash to pay for a quarter of the country's federal pensions, currently at $194 billion, according to USDebtClock.org.

Source: Forbes.com
Photo Credit: Reuters

Could America's Uber-Rich Pay Down the Nation's Debt?

By Erik Berte Forty of America's wealthiest families and individuals have pledged to give away at least half of their money to charity. Would they have enough dough to pay down our country’s debt? Could New York City Mayor Michael Bloomberg afford to pay the interest on U.S. debt?  FOX Business explores.

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