Venezuela's President Nicolas Maduro gestures as he speaks during a news conference in Caracas, Venezuela, September 30, 2019. Manaure Quintero/REUTERS
Business Insider: Venezuela reportedly has less than $1 billion in cash, which is less than rapper Jay-Z's net worth
* Venezuela's cash supply has dipped below $1 billion, according to a report by Bloomberg.
* That's less than the net worth of many entrepreneurs and celebrities, including rapper Jay-Z and reality star Kylie Jenner.
* The country has had limited access to funds since governments around the world enacted sanctions to try to force the country's embattled president, Nicolás Maduro, from power after he faced accusations of rigging elections.
Venezuela's cash supply has fallen below $1 billion as the country faces sanctions from governments around the world, limiting its ability to access funds and sell off the tons of gold it has in storage.
The South American country now has less than $800 million in cash and $200 million in other liquid assets, people familiar with the Venezuelan central bank's finances told Bloomberg.
The drop means Venezuela's cash balance has dropped below the net worth of many billionaire entrepreneurs, including Jay-Z, who is worth more than $1 billion, according to Forbes.
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Update: Venezuela has less cash in its coffers than Jay-Z is worth (NYPost)
WNU Editor: And here is an easy prediction. It is going to get worse.
1 comment:
Well if you are an AOC acolyte the solution is obvious.
"No one ever makes a billion dollars. You take a billion dollars," Ocasio-Cortez said, receiving applause. "I'm not here to villainize and to say billionaires are inherently morally corrupt. ... It's to say that this system that we live in, life in capitalism always ends in billionaires." - AOC
"You didn't make those widgets, did you? Because you employed thousands of people and paid them less than a living wage to make those widgets for you," Ocasio-Cortez said. "You didn't make those widgets. You sat on a couch while thousands of people were paid modern-day slave wages, and in some cases real modern-day slavery." - AOC
I'll have to ask, if there was a couch in the CEO's office. The only couches I know of in the offices of big poobahs are the ones called casting couches. Those are mostly liberals who have those.
Just saying.
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