Return to Transcripts main page

CNN Live At Daybreak

Who are the Richest People, Under 40, in America?

Aired September 04, 2001 - 08:38   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
VINCE CELLINI, CNN ANCHOR: Time to see how much you know about the richest people in America. Which of these millionaires under 40 never finished high school: Michael Jordan -- well, he went to North Carolina, hint -- Jim Carey, Jeff Bezos or Sean Combs?

For the answer we'll turn now to Nicholas Stein from "Fortune" magazine, a similar list of the 40 richest under 40.

Go ahead, Nicholas, who doesn't have the sheep skin?

NICHOLAS STEIN, "FORTUNE" MAGAZINE: The answer to the question is Jim Carey, who has managed to amass about $171 million despite never finishing high school.

CELLINI: Yes, he's done well for himself. In looking at this list, celebrities dot the list in terms of athletes and entertainers, and you say it's because they're able to become their own conglomerate, so to speak.

STEIN: That's right. I mean, I think there have been a number of changes that have happened in the entertainment industry in the last 25 years or so that have really put the power in the hands of these entertainers and athletes. And as a result of that they've really been able to increase their wealth to an incredible degree.

CELLINI: And the dot-coms may have hurt some people in terms of maybe stock, but, you know, the dot-coms are doing very well for many of these people on this list and very high on this list.

STEIN: Yes. I mean, you -- still, the majority of the people on the list are the people from the technology and Internet area, but, however, their wealth has decreased significantly from last year; they haven't been totally immune to the bubble bursting.

CELLINI: This list of 40, of the 40, 38 are men, only two women on the list. First of all, maybe you can talk about the two women on the list, and does that surprise you?

STEIN: Well, we've been doing this list for three years now, and there haven't been too many women on the list, but always hopeful that there will be more.

The two women on the list this year are Jeanette Simons (ph) of Zone Engineering and Anousheh Ansari of Sonus Networking, and both obviously in the high-tech field and both have done very well, and hopefully this is a trend of more things to come in the future.

CELLINI: Well, Nicholas aside from the women or how many may be on the list, what does surprise you about this assemblage of names?

STEIN: Well, I think really the biggest surprise this year, as you alluded to, was the number of celebrities who have made it onto the list. In the past we've had Michael Jordan on the list, but this year six out of the 40 come from the celebrity ranks. And I think it's just -- it's really an indication of how celebrities have been able to transform themselves into brands.

I mean, when you think Nike, immediately Tiger Woods and Michael Jordan come to mind, and I think it's really -- that's just one example how celebrities like them have been able to sort of take control of their own business destinies.

CELLINI: Well, the issue's on newsstands September 10. If you want to see the list right now go to www.fortune.com.

Nicholas Stein, thank you very much...

STEIN: Thank you, Vince.

CELLINI: ... for holding all the money and showing it to us right out reach.

STEIN: My pleasure.

CELLINI: Right out reach.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com