Thursday, October 01, 2009
Irsay Joins The Billionaire Club
Those of you who've been reading this blog for some time know that I've referred to both the Simons and Jim Irsay, owners of Indianapolis' Pacers and Colts, respectively, as billionaires. I guess it's official now that Forbes has officially placed Jim Irsay on its list of billionaires. At $1.1 billion, that makes him the 347th wealthiest American. He owes a debt of gratitude to Indianapolis area taxpayers who have invested at least that amount of money in his team over the years. Herb Simon ranks 317th on the list with $1.25 billion. An IBJ investigative story earlier this year estimated that Indianapolis taxpayers had given the Simons more than $400 million in government subsidies over the years. White Lodging's Dean White placed even higher on the list at 202nd with his $1.75 billion. Indianapolis taxpayers recently treated him to nearly $60 million in subsidies to build the new J.W. Marriott Hotel in downtown Indianapolis. If you want to get rich in America, you need to turn to the government for a nice handout. The richer you are the more you get.