The economic meltdown has had a considerable effect on people’s fortunes worldwide, even the ultra-affluent could not stay away from what has been the worst recession in history. Many of them tumbled down on their wealth count but the pain won’t be spread evenly. The uber-rich are a bit more insulated than the rest of us. Though even the rich went into hibernation mode with reluctance to spend on materialistic luxuries, that’s the hurdle high-end brands had to overcome, which explains the launch of luxury lifestyle magazines even with the recession looming large over their heads. On the contrary, many of the big names in the publishing industry had to shut down due to vanishing advertising and high running costs, but the luxury press went on despite the never-ending arguments among the wealth reporters and managers, that it wasn’t the best time to launch any magazine. Remember the launch of “Prestige New York” from Jane Leong, a Singaporean publishing magnate, earlier this year? And, now The Financial Times is following in its footsteps with the launch of its quarterly glossy FT Wealth to the United States, which is scheduled to hit the stands Oct. 16.