Some of the world’s wealthiest billionaires have deeper pockets than the U.S. Treasury has in the bank.
Amid the ongoing debt ceiling controversy, the U.S. Treasury’s cash flow dropped more than $200 billion in less than a month, per CNN, and reported only $38.8 billion in cash at the end of the business day on May 25, according to federal data — which means the country has less in the bank than 31 billionaires on Bloomberg’s Billionaires Index.
The wealthiest man in the world, LVMH Chairman Bernard Arnault, is worth an estimated $193 billion, while Elon Musk sits at $185 billion. Jeff Bezos is next with $144 billion, followed by Bill Gates at $126 billion. Mark Zuckerberg sits at No. 10 with his $95.5 billion.
Even Michael Dell, No. 24 on the list, has out-ranked the U.S. with a net worth of $54.5 billion.
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The country’s cash flow looked bleak after the U.S. racked up more than $31.4 trillion in debt in January, followed by fears that the U.S. could run out of funds by June 5 if the debt ceiling isn’t raised.
A bill was proposed on Sunday that would suspend the debt ceiling until Jan. 1, 2025, with nearly $2 trillion in spending cuts. The House has 72 hours to read the bill before they can vote.
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