Bud Konheim, Wealthy CEO, Tells 99 Percenters To Stop Griping

Image: Bud Konheim, Wealthy CEO, Tells 99 Percenters To Stop Griping

Thursday, 13 Feb 2014 09:00 AM

By Alexandra Ward

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Wealthy fashion CEO Bud Konheim has a message for the 99 percenters: Stop complaining. He says they would be considered rich in other countries.

The CEO and co-founder of luxury fashion label Nicole Miller appeared on CNBC's "Squawk Box" Wednesday and said that in other parts of the world, Americans who aren't in the top 1 percent would be considered wealthy.

"We've got a country that the poverty level is wealthier than 99 percent of the rest of the world," he said. "So we're talking about woe is me, woe is us, woe is this . . . The guy that's making, oh my God, he's making $35,000 a year, why don't we try that out in India or some countries we can't even name. China, anyplace, the guy is wealthy."

Urgent: Do You Approve Or Disapprove of President Obama's Job Performance? Vote Now in Urgent Poll

Konheim is technically right. According to World Bank economist Branko Milanovic, you need around $500,000 in annual income to be in the top 1 percent of Americans. Globally, an income of $34,000 a year gets you in the top 1 percent.

But Twitter users didn’t take kindly to Konheim, whose Nicole Miller line hawks $800 dresses and $200 clutches, lecturing them about wealth.






Editor's Note: ObamaCare Is Here. Are You Prepared?

Related Stories:

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

One Million Mummies Found in Ancient Egyptian Graveyard

Friday, 19 Dec 2014 07:16 AM

More than one million mummies have been found in an ancient cemetery in Egypt south of Cairo, according to estimations b . . .

EU Obesity: Being Fat Can Be a Disability, Rules Court of Justice

Friday, 19 Dec 2014 06:31 AM

Obesity can be a disability, according to a ruling by the European Court of Justice that could have consequences for emp . . .

American Kennel Club's New Breeds Include a Fishing Dog

Friday, 19 Dec 2014 06:17 AM

A Spanish fishing dog and a South African guard dog are among four more dog breeds recognized by the American Kennel Clu . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved