The Real Billionaires

Mere millionaires – those with a seven-figure net worth – are less plentiful but still don't feel rich. For the truly deluxe life, one needs a seven-figure income. (Ask any large-cap CEO.)

Is the disparity as great at the ten-figure level? Do mere billionaires envy James Simon, John Paulson, John Arnold and George Soros? That foursome of hedge fund managers, The New York Times reports, enjoyed ten-figure earnings last year.

Lets hope institutions that lost billions take the hedgers' windfalls philosophically. As Gertrude Stein observed, "Money is always there, but the pockets change."