Word: wealth
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Dates: during 1980-1989
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...save, though it was his most treasured business project. An avid sportsman, Thoroughbred horse breeder and art collector, Whitney was an active philanthropist who gave away about $1 million a year. A man who savored the amenities and comforts his achievements easily afforded him, he never flaunted his wealth ($200 million at his death). Demanding in 1946 that his name be stricken from the Social Register, he said, "If you willingly go along with such a travesty of democracy as the Register, you tacitly subscribe to its absurd notions...
This forbidding continent has lately become more than the testing ground for explorers in mukluks and wooden sledges. It is being eyed acutely for mineral wealth, once deemed far too difficult and expensive to mine. Geologists have already confirmed that it holds great quantities of iron and coal, including perhaps the world's largest coal field, running more than 1,500 miles along the Transantarctic Mountains. There are strong indications of other treasures as well. More than 200 million years ago, before the world's continents began their slow drift apart, Antarctica was attached to South America, Africa...
...third recession in ten years, and industries like autos and steel seem incapable of competing with the Japanese, the bright, bold and brassy risk takers are not only thriving; they are leading the U.S. into the industries of the 21st century. Writes George Gilder, a supply-side theorist, in Wealth and Poverty: "Entrepreneurs are fighting America's only serious war against poverty. The potentialities of invention and enterprise are now greater than ever before in human history...
...Sudden wealth can transform the way the entrepreneurs live and work. A few unabashedly flaunt their new riches. WJ. (Jerry) Sanders III, 45, who delivered milk and dug ditches while growing up in Chicago, started Advanced Micro Devices, an early semiconductor manufacturer, in the dining room of his home in 1969. Today he owns houses in the Bel Air section of Los Angeles and in Malibu, and has a Bentley, a Ferrari and a Rolls-Royce. A year ago, Sanders rented San Francisco's Civic Center to treat 7,000 workers to a $350,000 party. Atari Founder Nolan...
Many young risk takers regard their accumulated wealth as a yardstick of success rather than as an end in itself. K.P. (Phil) Hwang, 45, emigrated from Korea in the early '60s and worked as a busboy and waiter while attending Utah State University. In 1975 he used $9,000 in family savings to found Tele Video Systems, a company that makes computer screens and keyboards. Although Hwang is now a multimillionaire, he says that his wife still fusses over utility bills and turns down the thermostat at home...