J. K. Rowling Is No Longer a Billionaire

1398

Mar 10, 2012

Posted by John Admin

J. K. Rowling isn’t a billionaire any longer due to the fact that she has given a reported $160 million to various charities and, of course, to her taxes:

The billionaires club has hit J.K. Rowling with a banishing spell. According to the newly updated Forbes Rich List, the Harry Potter author has gone from billionaire to millionaire
(several hundred times over, of course). She apparently broke a few
rules of how to stay rich by giving away a lot of her fortune ”
reportedly $160 million of it ” to charity and by paying her top-rung
British taxes.

There’s no way that the socially minded
Rowling, who once lived on welfare, gives two Quaffles about her
standing on the list, and no one should shed a tear over a
stratospherically rich woman becoming slightly less so. But I always
liked knowing that an author of imaginative, timeless,
honest-to-goodness books became a billionaire.

You can read the rest of the article here.





45 Responses to J. K. Rowling Is No Longer a Billionaire

Avatar Imagekatelyner123 says: Aww! Congrats J.K. Rowling, not for losing $160 million, but by being such a great person and not caring about how much money you have! You are such a giving person for that and I think I speak for all Harry Potter fans when I say we greatly appreciate your generosity. :) Keep being awesome!Avatar Imageroonwit says: I think this headline is a bit artificial, because I doubt Jo was ever a dollar billionaire, they are just using a better estimate of her wealth this time around.Avatar ImageG.Weasley says: Well at least she did something with good with it and gave it to charity, still she has enough money to last her a lifetime.Avatar ImageRowling Stones says: Good for you Jo! Your generosity inspires all of us.Avatar ImageLunaLuver says: @roonwit: Jo was an actual billionair, so this artical is true. Everyone's known she's been a billionair for ages now. Lol, I loved that, "gives two Quaffles"ah, you gotta love Harry Potter humor. :)Avatar Imagehorcruxhunter7 says: I think that it's good she gave it to charity unlike other billionaires who just spend it on things for them. Avatar Imagehorcruxhunter7 says: But I'm not being stereotypical.Avatar Imagerettophantom says: That is not money lost. I think it's shameful to see this and say that Jo "lost" money. She didn't lose anything, she simply acted as a true honest human being who cares for others. I am proud to call her my idol. I will forever look up to her and the world is a better place thanks to Jo and her enormous imagination, and even bigger heart.Avatar ImageValeria-Johanna says: I've no idea on what these Forbes List people base their information, but if it's true, good for her.Avatar ImageMudblood_and_proud says: She can easily get back up to the billions, just by selling her book alone she will get millions but I don't care. I will love her all the sameAvatar Imagezaucwrkexun says: Aw she's such a great person! When you've got a million pounds money's worthless right? So it's real nice of her to give it to those who need it most. XDAvatar Imagewandmastercalum says: This makes me happy more than sad to be honest. It just proves Jo has a heart of pure gold like her characters and that's worth more than any penny she earnsAvatar ImagePotterUk says: Shell be back to the billionaires club at the end of the year with the new book and everything, and it's a certainty shell be offered a film deal off it, if she accepts that is she's not out for the money she just loves her books, well done to her.Avatar ImageValeria-Johanna says: If a few more wealthy people (not to mention companies) in the UK followed her example, paid their taxes willingly and gave to good causes, this country would be in a much better state.Avatar Imagemoglet says: Hear, hear, V-J, I totally agree with you. Jo is a great example of how to use your great wealth to benefit others and also to pay your taxes instead of becoming a tax exile as some of the hugely rich people do. She has a social conscience, and remains firmly rooted in the reality of life. I admire her greatly. Avatar ImageSpook says: Doubly second V-J; if all the wealthy and companies paid taxes and had some sort of social responsibility then may be the whole world would be a better place for everyone not just the select few. Well done J.K. Rowling. What a great a example to set for others. I am sure she is real worried about not being a billionaire ...... not. Nice to know she has not forgotten what it is like to struggle.Avatar Imageroonwit says: LunaLuver: I think this is a case where something "everyone knows" is actually wrong. Jo hasn't suddenly started paying tax or giving to charity, so I think it more likely that her fortune has always been less than popularly reported. These lists are generally estimates because they have no access to the true figure, so they work it out based on estimated income, taxes and expenditure which will assume things such as a certain amount of tax avoidance, which Jo has never done. Jo has often been quite quiet about what she gives to charity, so I think her fortune has always been overestimated.Avatar ImageMad But Happy says: Good for her!Avatar Imagepurpleleafgirl says: I don't see how this is a bad thing. I mean honestly, is the exact opposite of bad! I'm very happy for Jo and even happier for the charities she helped :)Avatar ImageWeenyOwl says: The answer to the question of whether or not JKR was ever a billionaire depends on whether you are British or American. In America the word 'billion' means a one followed by nine zeroes, or what the British would call a 'thousand million.' In the UK a 'billion' is a one followed by 12 zeroes, or what Americans would call a 'trillion.' Forbes being an American-based magazine undoubtedly has the 1,000,000,000 figure in mind when it characterizes someone as a 'billionaire.' And of course, it depends on whether you are counting pounds or dollars.Avatar ImageValeria-Johanna says: I fear the old UK billion (which would now be called a trillion) was officially replaced, at least for financial purposes, in 1975, when Denis Healey was the Chancellor of the Exchequer, and our milliard/thousand million became a billion. Some of us have tried to fight a rearguard action, but now I think it's been comprehensively lost. So I assume they are talking about thousands of millions, and probably dollars.Avatar ImageWeenyOwl says: Echoing V-J and others, I wish that there were more wealthy people like JKR who set an example by not trying to dodge their tax responsibilities. In America especially, I always have to laugh (ruefully) at the Tea Partiers, the Ron Paul supporters and others make such a huge deal over having to pay taxes, as if that were our worst problem. Most Americans have no clue how low our taxes are per capita compared to the rest of the Western democracies.Avatar ImageWeenyOwl says: That should of course be 'MAKING such a huge deal,' not 'make.'Avatar ImageWON_TWO says: Her new book will put her back in the 'club'... I do not think she really gives a flying fudge one way or the other!Avatar Imagehermioneginnyluna says: Good for her. I'm really glad that she donated so much.Avatar Imagehewy says: What a wonderful example to set. Sadly, alot of others do not see fit to follow suit. Great woman Jo Rowling!Avatar ImageMissWeasley8 says: That is really awesome :)Avatar ImageAnna Weasley says: She's still rich but most importantly, she still has a heart. :)Avatar Imagesilverkacy says: Yay Jo! You are awesome! You are my hero and role model!Avatar Imagedaydreamcharm says: I believe she shows 'moral fiber' and merits full marks!Avatar ImageLivi22 says: I don't give a damn how much money she's got, she's a wonderful woman and an inspiration to us all, whether she's a billionaire, trillionaire, gazillionaire or entirely penniless!Avatar ImageChoKo says: She's one of the most modest, generous person that I've ever heard of, honestly XD Avatar ImageCatherine says: I couldnt be more proud of Jo! The reasons for her being a millionaire means so much more than her status of billionaire author!Avatar ImageAni Sharmin says: While I thought it was kind of cool that she was the first person to be come a billionaire from being an author, I think it's even more important and awesome that she has given money to charity. After all, it's not as though her books are any less wonder based on her not being a billionaire anymore.Avatar Imagekyrstalkris says: Does it really matter if she's a billionare or not? But I'm glad to her donations made news! It deserves to be! You're an amazayn person, Jo! (:Avatar ImageBijia says: Everybody go and see the rest of the article! It is HILARIOUS! And... I am sure it was left out on purpose. :))Avatar ImageJoRowlingRocks says: Re: whether or not she was a billionaire, I'm with roonwit. She told her documentary-maker that reports of her having [enough money to make her a dollar millionaire] were "bollocks". So it might not be true that she ever was a billionaire in any sense of the word. But as others have said, it's irrelevant. She is an amazing, generous person who deserves all the good things in the world.Avatar Imagegexpert says: To be honest her wealth is not the reason my interest is drawn towards her book, so I don't mind. Besides, wouldn't it be best to spend your fortune this way rather than keeping it just for the sake of maintaining your reputation?Avatar ImageJoy@Hogwarts says: Good job J.K. Rowling.Avatar ImageMagical Arts says: My idolAvatar ImageCloakKnight says: It makes me so proud when a woman I admire, and has given the world so much, vindicates my respect for her by giving away even more! I love this fandom and J.K. Rowling made the whole thing possible. Thank you thank you! You'll never lose my love here! Avatar Imagesessionka says: I'm going to take another tack.. First... Love Jo, but I'm not surprised she's so generous. Second, it's not fair to paint most wealthy people as selfish and scheming in the way they deal with their taxes and charities. You only hear about the small minority who do, because that is what is sensational and sells. The majority of wealthy people pay their taxes and give to charities and foundations. It's just not reported because they like to keep their giving quiet (as does Jo) and they're not as famous. Avatar Imageverna says: she is kind ,as you can feel in her booksAvatar ImageMagical Arts says: My role model.Avatar Imageazaadpotter says: Long Live JK Rowling!

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