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People call it "The Pit." It's a massive, unsightly hole in the ground — the site of a construction project in downtown Carmel-by-the-Sea whose previous owners ran out of money six years ago, leaving ...

Chase Peterson-Withorn is a senior editor at Forbes covering wealth. The billionaires club has never been bigger—or richer. Here’s who’s up, who’s down, who’s off the list and why it matters more than ...