Morning Devotional

February 28, 2004

"The Richest People in the World" 

by Don Emmitte

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Real life is not measured by how much we own. And he gave an illustration: "A rich man had a fertile farm that produced fine crops. In fact, his barns were full to overflowing. So he said, `I know! I'll tear down my barns and build bigger ones. Then I'll have room enough to store everything. And I'll sit back and say to myself, My friend, you have enough stored away for years to come. Now take it easy! Eat, drink, and be merry!' But God said to him, `You fool! You will die this very night. Then who will get it all?' Yes, a person is a fool to store up earthly wealth but not have a rich relationship with God.” (Luke 12:15-21 NLT).

After two years of falling fortunes, the collective net worth of the world's billionaires jumped half a trillion dollars in the past year, to $1.9 trillion. The biggest gainer in sheer dollars was Warren Buffett, who added $12.4 billion to his net worth and now is only a few billion dollars shy of ending Bill Gates' 10-year reign as the richest person on the planet. This year, Forbes reports a record 587 billionaires, including 64 newcomers hailing from 19 countries. Thanks to rising oil prices, Russia minted eight new billionaires and now has a total of 25, the third-highest concentration in the world. Twenty-three of them live in Moscow, ranking it second behind New York as the city with the most billionaire residents. Hong Kong and Paris follow. The youngest billionaire is Prince Albert Thurn und Taxis, just 20 and ranked No. 262 with a fortune of $2.1 billion. Compare that with the average age of all billionaires, which is 64, and an average net worth of $3.3 billion. Not a bad start. Perhaps the most surprising to make the list at number 552 is former welfare mother J. K. Rowling with the huge success of her “Harry Potter” series of books. ¹ I happen to know one of the people on this list. In fact she is ranked sixth by Forbes. She lives in Parker County and does business with us. She is the heiress to Sam Walton’s fortune; the founder of Wal-Mart. Forbes estimates her wealth at 20 billion dollars! I can’t even imagine that amount of money! However, the article began me thinking about money and happiness.

Jesus’ teaching is very clear; money is not the answer to our quest for happiness. In 1928 a group of the world’s most successful financiers met at the Edgewater Beach Hotel in Chicago. The following were present: the president of the largest utility company, the greatest wheat speculator, the president of the New York Stock Exchange, a member of the President’s Cabinet, the greatest "bear" in Wall Street, the president of the Bank of International Settlements, and the head of the world’s greatest monopoly. Collectively, these tycoons controlled more wealth than there was in the U.S. Treasury, and for years newspapers and magazines had been printing their success stories and urging the youth of the nation to follow their examples. Twenty-five years later, this is what had happened to these men: the president of the largest independent steel company, Charles Schwab, lived on borrowed money the last five years of his life and died broke; the greatest wheat speculator, Arthur Cutten, died abroad, insolvent; the president of the New York Stock Exchange, Richard Whitney, served a term in Sing Sing Prison; the member of the President’s Cabinet, Albert Fall, was pardoned from prison so he could die at home; the greatest "bear" in Wall Street, Jesse Livermore, committed suicide; the president of the Bank of International Settlements, Leon Fraser, committed suicide; and, the head of the world’s greatest monopoly, Ivar Drueger, committed suicide.

There are many “lists” in life. However, there is only one list that will count for eternity. That one is contained in the Book of Life. The measurement used for that list is not our wealth, our talent, our intelligence, or our accomplishments. You may only be listed there if you have placed your faith in Jesus Christ. If you make that list, you will be one of the wealthiest people in the world! What list are you on?

1.       “Billionaire Ranks Are Thriving” by Forbes.com, February 27, 2004.