August 04, 2007


Richistan is the new word coined by Robert Frank in his book Richistan: a Journey Through the 21st-Century Wealth Boom and the Lives of the New Rich

According to Robert Frank within the U.S. there now exists "Richistan," a strata of "super rich" individuals. Richistan is a booming virtual country of the super-wealthy built on the boiling stock markets of recent years.

Richistanis have 400-foot-yachts, 30,000-square-foot homes, house staffs of more than 100.

Some stats from the book:

Wealth of all US millionaires was $30 trillion, more than the GDPs of China, Japan, Brazil, Russia and the EU combined.

The richest 1% of Americans control 33% of the country's total wealth.

The richest one per cent of Americans earn about $1.3 trillion a year - more than the total national income of France, Italy or Canada.

Source: Forbes

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