Money Minute: The Rich Get More Abundant; Gene Therapy for Aging?


Not only are the rich getting richer, but there's a lot more of them too.

The exclusive club of ultra wealthy individuals -- those with assets of more than $30 million -- increased by about 5,000 last year. The annual Wealth Report says the world now has 167,000 super-rich people. The U.S., Japan and Germany are home to most of them, but China is catching up. In fact, the report predicts that in 10 years, China will have the second highest number of billionaires.

Rich or poor, we all want to live longer, and Craig Venter is working on a plan to make it happen. He's known as one of the fathers of human genetic mapping,
and his new company is gathering genetic and other important data on 40,000 people a year. The aim is to use that data to find the molecular causes of aging, and to treat diseases ranging from cancer and heart attack to Alzheimer's.

Here on Wall Street yesterday, the Dow Jones industrial average (^DJI) soared 227 points, the the Standard & Poor's 500 index (^GPSC) rose 28 -- to a record high -- and the Nasdaq composite (^IXIC) jumped 74 points. The tech-heavy index is at the highest level in 14 years.

Chevron (CVX) may not have to pay the $9.5 billion fine that a court in Ecuador imposed on the company in 2011. That"s the ruling of a federal judge in New York, who said the Ecuadorian verdict was obtained by "corrupt means." The judge said the American lawyer who brought the environmental case used coercion, bribery and money laundering to win the verdict against Chevron.

Finally, TV binge watching. A Harris survey finds 62 percent of Americans have done it. It can be fun; it can be addictive; and some experts say it could even be harmful, at least in the short term. Watching too much TV can reduce the amount of sleep you get, and many people get to the end of a season and feel, wow, that was a lot of wasted time.

-Produced by Drew Trachtenberg.

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the poor get more and more abundant

March 05 2014 at 2:56 PM Report abuse +5 rate up rate down Reply
Violet's News

The rich had best think of mortality in their political structure
rather than in the aging factor, because at the rate they are
going, money has absolutely no value when there's a nuke
war, and everyone is equal then if they;re all dead. There is
nothing sadder than a rich old guy who has to buy freinds or
love, or a woman with a lampshade taut skin on her face
while wrinkled everywhere else, wondering what to do
with her kids who may turn out to be like the Koch brothers,
or a junkie, because they don't have purpose in life or
find happiness with who they are.

March 05 2014 at 2:29 PM Report abuse +2 rate up rate down Reply

Proof again, Communism and socialism don't work. You can always count on human greed.

March 05 2014 at 11:22 AM Report abuse rate up rate down Reply
1 reply to Richard's comment

Better than Alien Greed, hands down.

March 05 2014 at 11:48 AM Report abuse -1 rate up rate down Reply

The discoveries I've made about the atom very likely make me the world's first trillionaire, but it doesn't matter what you are worth financially if you are dead, for example in retrospect, Steve Jobs .
In reference to molecules the article staff means DNA, the fundamental molecule which is the basis of all living things, at least on this planet. The combining of the two groups of 23 chromosomes into what became you starts what is basically a titration reaction. Your individual rate of aging depends on this reaction which is preset by the DNA molecule instructions and is inherited.
There are things you can do to naturally extend your life expectancy and the quality of your life.
One wrong thing to do is adopt the "Steve Jobs" lifestyle. There are many more "right" things you can do.

March 05 2014 at 11:13 AM Report abuse -2 rate up rate down Reply

Hey too smart stop whining and get off the food stamps and get a job!

March 05 2014 at 11:12 AM Report abuse rate up rate down Reply

So what is new? The rich get richer. Not new news. We can say thank you bush jr. and ben bernanke. Lets point the finger to where it really lies.

March 05 2014 at 10:38 AM Report abuse rate up rate down Reply

March 05 2014 at 9:39 AM Report abuse rate up rate down Reply
Ikbal Hosen Shoeb

I First joen

March 05 2014 at 9:26 AM Report abuse rate up rate down Reply