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TheStreet Open House

Bloomberg Index Makes It Easier to Hate Billionaires

Back to the real world, I'd put my money on Brazilian mining billionaire Eike Batista -- who comes in at No. 10 in the index and plans to be the world's richest man by 2015 -- as representative of how the billionaire club views the new Bloomberg tool.

Batista seemed downright overjoyed by the index, and even provided a quote for the launch, saying, "I'm competitive ... It's Brazil's time to be No. 1. Brazilians have always admired the American dream. What's happening in Brazil is the Brazilian dream and I happen to be the example."

For those who saw the American dream crash and burn in the Great Recession and are still struggling to make ends meet, Bloomberg has provided a way for the 99% to track the pilfering of the world's wealth by the top of the economic pyramid. If Zuccotti Park is retaken, now the Occupy movement can bring a Jumbo-tron that displays the Bloomberg Billionaires Index in real-time.

Of course, the 99% would have to be able to afford a Bloomberg professional terminal to access the Billionaires Index, but that's another matter, and maybe one that a grant from George Soros' Open Society, or a check from honorable Mayor Michael Bloomberg (who needs some friends among those he "special forced" out of Zuccotti Park in the dead of night), could take care of.

In the final analysis, the most significant impact of the Bloomberg Billionaires Index may not be on the 1% or the 99%. It may make Forbes' legendary annual publishing event known as the Richest List obsolete. What's the point if Bloomberg is scooping Forbes on a daily basis? Maybe Forbes can launch a World's Poorest list. It's going to have to do something drastic to recover from this game of billionaire tracking one-upmanship.

In the mean time and at the end of the day -- the first day of the new world of billionaire wealth being a part of our real-time existence -- all that is left to do is to create an exchange-traded fund based on the Bloomberg Billionaires Index, and of course an iPhone app, Twitter feed and Facebook page (Mark Zuckerberg didn't make the billionaires index cut, in case you were wondering).

Thanks to Bloomberg, it's the closest most of us will ever get to the high life of the billionaire set.

-- Written by Eric Rosenbaum from New York.

>To contact the writer of this article, click here: Eric Rosenbaum.

>To follow the writer on Twitter, go to Eric Rosenbaum.

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