Benson makes Forbes billionaire list with $1.2 billion fortune
 

New Orleans Saints owner Tom Benson is the only Louisiana resident to make the Forbes list of the world's 1,426 billionaires, unveiled on Monday. With an estimated net worth of $1.2 billion, Benson, who also now owns the Hornets, soon-to-be Pelicans National Basketball Association team along with car dealerships, real estate including the Benson Tower next to the Mercedes-Benz Superdome and the Fox television affiliate WVUE-Channel 8, ranks 1,175 in the world and 377 of the 442 billionaires in the United States.

The Forbes article said the United States has the most billionaires, although the richest man in the world for the fourth consecutive year is Mexico's Carlos Slim Helu and his family, worth $73 billion. Helu owns telecommunications, industrial, retail, finance and real estate companies. Microsoft founder Bill Gates is second with $67 billion. Forbes says famed investor Warren Buffet dropped out of the top three for the first time since 2000, despite increasing wealth totaling $53.5 billion, with Spanish retail owner Amancio Ortega moving into third place at $57 billion.

The brief profile of Benson in the magazine's annual billionaires list notes that in addition to his other local holdings, Benson, as a "loyal New Orleans resident," offered last year to buy The Times-Picayune in the wake of the decision by the newspaper's ownership to reduce the print edition to three days a week and reorganize into a more Internet-oriented company.

Two members of the Newhouse family business that owns the newspaper and NOLA.com also made the billionaire list: Samuel "S.I." Newhouse Jr. with $8.1 billion and Donald Newhouse with $7.3 billion. Donald Newhouse leads the Advance Publications newspaper division, and New Orleans played a role in the Forbes profile of him, which said, "In the face of continued pressures on the newspaper industry Advance began to reduce the number of print editions published each week for a number of their papers. In October 2012 the Times-Picayune reduced its schedule to three printed issues a week, making New Orleans the largest American city without a daily paper."

Forbes also noted that Benson, 85, has a 122-foot yacht, a 2,500-acre ranch in Texas and charitable causes including the $20 million Tom and Gayle Benson Cancer Center at Ochsner Medical Center.

Benson makes Forbes billionaire list with $1.2 billion fortune | NOLA.com

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Correct me if I'm wrong but my math says less than 1% of his income goes to a cancer center. A company I worked for frowned upon me if I gave less than 2% to a charity allotment. Giving nothing was not even an option. We really need to stop glorifying them and call them what they are:
Top members of the Thieves Guild.

It's not charity if your forced to give, charity comes from the heart.

That's a tax.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Good for Mr. Benson!

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Kinda side barring here but it was not a tax. It was more on the lines of this:

Extortion - a criminal offence of unlawfully obtaining money, property, or services from a person, entity, or institution, through coercion.

I could not leave the room until I signed the 2% "charitable contribution" document.

Regardless, If I made 1.2 billion and gave 20 million contribution willingly to a cancer organization I should be ashamed.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

1.2 Billion isn't his income. Its his net worth.

And they listed ONE of his many charitable causes.

I despise class envy. It disgusts me. Its nobody's damn business what Tom does with the money he's earned over his lifetime.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

I also despise having to front tax dollars and tax breaks to front his operations. I appaud him for building his empire but make no mistake, some of it was built on your coin Danno.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Shame on him for working hard and becoming successful !

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Agreed Danno..................His money, his business.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Hornets Tax break:

Rep. Sam Jones, D-Franklin: "We are going to give the wealthiest man in this state another $36 million? ... What's wrong with this picture?"

Apparently nothing because we gave it to him. He didn't earn it, work for it, build it...it was taken from your pockets and put directly into his.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Thats not a Benson problem, thats a Government problem.

And most jealous wealth bashers never consider...

How much revenue will be created because of the Pelicans?
How many jobs will they bring to the area?
How much tax revenue will they receive from the jobs created by the Hornets/Pelicans?
How much tax revenue would be lost if they had moved somewhere else?
How many jobs would be lost if they'd left?
How many Companies and wealthy families would like to relocate to this area because of the increased quality of life that these types of entities bring to the table?

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

AMEN

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Does anybody else remember how Benson used to run his business with a used car mentality.?
He used to draft players and when they got value he sold them. To me at the time he wasn't investing in the team he was trying to profit from them.

Thank Goodness that we didn't end in San Antonio. It was right after that that he changed his business model.....personally, I think Rita came in the picture about that time and was influential in the changes.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Those are a lot of question marks but I concede, it is a Government problem, not Benson. At the end of the day however he's still taking 36 million and the big picture is he does not need it. Just because he is allowed does not make it right. That's why the vote on it was a close call. It actually had to be voted on again because it got shot down.

There are other ways to generate even more revenue with that 36 million that are seldom even discussed. It's great for him but if we are talking about creating tax revenue, jobs...there are better options I assure you that could create 10X the economic impact of the Hornets.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

I agree 100% sort of, but it should also be pointed out that there are numerous ways Government wastes that much money constantly with literally zero benefit to us taxpayers at all.

And if I had to choose between giving 36 million to a proven entrepreneur or a Goverment politician, I'll choose the proven businessman every time. I assure you he will generate 10x the economic impact that the politician would.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

I get your point Danno but I'm willing to try other options despite the political culture. Giving it to the richest person in the state with the promise of marginal gains at best...no thanks. I know we can do better and it's not that hard! It's really not.

One scenario, take the money and work towards making New Orleans one of the safest travel destinations in the country. Bring in the best of the best and hold them accountable. I talk to people all the time and it's a major concern. They don't want to come down because of the crime.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

How do you know about "marginal gains at best"?

What was the projected ROI?

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

There are studies regarding the impact of pro teams on cities. I'm not going to bust out an arsenal of references but from what I have read, it ain't all that great. It just isn't. Some reports have compared it to a single big box store.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Think about it... Benson SOLD players? Please explain, as I have yet to read any articles where an owner was paid by another team for a player. While he "may" have tried to stay near the basement of the NFL Cap, he never profited from players becoming better, he just didn't care to pay them a better players wage, and thus rotated them out for cheaper talent. Nothing immoral about keeping your costs down.

Ill rehash a statement I have made many times. The NFL was started by a group of businessmen that saw a profitable business model. It is a business to them. It is a privately owned business, and whether you care for how Benson arrived at where he is today it worked out pretty damned well. We, the fans are the only group of people that sees the NFL as anything but a business.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

I see your point about not paying them. But, he certainly doesn't seem to follow use the same business model he uses now. jmho
He really is invested in New Orleans now and that is what matters to me. We as a community have and will benefit from his professional sports teams. Not to mention that he has invested in many New Orleans businesses now.

This is the only time I've ever believed that trickle down economics works.:p

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

With out the Saints this would not happen.
"The total, $434 million, has risen from the estimates of $249 million for the 1997 New Orleans Super Bowl and $299 for the 2002 New Orleans Super Bowl. In 2013, the spending could generate $26 million in tax revenue for local and state agencies."
Super Bowl 2013 reverberating through the New Orleans economy | NOLA.com

What would the Dome look like Post Katrina with out the Saints?


Here is a bit of what you are looking for
http://www.uwlax.edu/faculty/anderso...s/stadiums.pdf

Lets not ignore the Motel rooms, restaurant and bar tabs generated for home games.

And you said economic impact is probably a single digit number or percentage? Remember All revenues are taxed at the State level also. Including Players income along with Toms.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Wow, talk about walking into the deep end of the pool with this topic. I'm brave and opinionated, but not that brave. There's too much missing information from this picture to even begin to talk like an idiot, much less intelligently.

However, it should be noted that any non-government agent who receives tax supported funds is subject to oversight by that funding agent. If Mr. Benson doesn't deliver, his governmental "partners" will either genuflect at his incompetence or truly investigate.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Again, I have no problem with Benson earning as much money as he possibly can. Doing it with tax dollars however is another story. He does not need the incentives and can manage insanely well without it. He's the richest person in the entire state of La. If politicans waste the money or steal it, that's an entirely different set of circumstances that should be dealt with by voters but there are better options. It's our responsibility to hold them accountable and create those options.

If you want to hand over tax dollars to Benson to keep this huge economic boom we have all been rolling in since the early 70's due to the infusion of pro sports then I honestly want to purchase a few dozen of the primo creeper wheat brownies you are consuming.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Actually it was one of the only times I appreciated Paul Tagliabue...

Tagliabue told him no way he was moving the team and made a commitment to pump NFL money into the New Orleans Market and Support System so the team could become viable...

Benson had plans to have the team and stadium in his San Antonio Backyard...

I've never liked the business/government model and I still don't; the concessions are too great and if you're going to start funding or giving tax breaks with one private enterprise, you should do for all...

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Ding Ding Ding!!! We have a winner

Same with subsidies.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Yeah! Where's my money?

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

The TEA party is trying their best to give it back to you Xan.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

A lot of good discussion on here and I appreciate it. I get every point that has been made so far and I don't think anyone believes Benson's net worth is wrong, in fact, it's the opposite. I hope he makes another Billion.

My only concern is the notion of defeatism which is acceptance of defeat without struggle. I want more of a struggle to create a better situation for the economy of La. I love the state. The people, the food, the culture. I've been around the world and La has something really unique and I want to see it survive, thrive, and I want it preserved.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

I wonder how much he gets in tax breaks. I pay almost 40% in taxes & I am a regular working lady. I'm not a millionaire & certainly not a billionaire.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Why are you so concerned with what he pays?

Sounds to me like you should be more concerned with having to pay 40%.

I take it you did NOT vote for Obama then?


BTW if you pay 40% income tax, you make over 400,000 per year. Very Nice. Good work. I hope to be there soon.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

That's why when you vote, don't get caught up in the dog and pony show of Republican/Democrat, Elitism/Redistribution, Blue/Red, Black/White...

vote your checkbook...

vote for minimum government in your life and impeding your rights...

vote for your kids or for other kids you'll need as adults to defend and comfort you in old age...

vote for a flat tax rate...

and vote Marques Colston to finally get to a F**KING Pro Bowl!

Balzac

"Behind every great fortune lies a great crime"

Tom Coburn's (R) take -

http://www.coburn.senate.gov/public/...6-91c970fbee1f

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

^^^This^^^

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Good for Mr Benson !

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

That is a fair chunk of money. Good luck to him!
May he also be blessed with good health.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Tom Benson is an American success story. His accomplishments should be celebrated loud and proud. Unfortunately the class envy morons want to taint his achievements.

Every one of us and our children could rise up and succeed just as he did. Or at least we used to be able to do that. The left is making it more and more difficult every day.

Re: Benson makes Forbes billionaire list with $1.2 billion fortune
 

Nothing will move forward as long as there are far lefts and far rights. It's almost like which side of the sword do you want to cut you. As for Benson, can't help but admire the guy.