Forbes Media CEO Steve Forbes warns of the likely possibility of a 'richcession' creating 'rough economic times' and 'turbulence' ahead for wealthy Americans.
Forbes Media CEO Steve Forbes weighs in on the potential 'rich-cession' coming this year.
Millionaire and Forbes Media’s CEO warned that wealthy wallets may already be taking "big hits" from an"The big hits are going to come in 2023," Steve Forbes told FOX Business’ Stuart Varney Monday. "In terms of an asset recession, I think you're going to see it and you're going to see it even more as the year wears on. That doesn't mean you should shed tears, but they're taking a proportionate hit in a ways they haven't done in past recessions.
"When a recession is on the horizon, the rich usually don’t have to worry too much. They’re usually in a good position to ride out the rough economic times, the last to be affected and the first to recover value," the
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