To spend a billion dollars in the lifetime of the average human being (80 years) you’d have to spend $34,246 a day.
If you spent $1000 a day it would take you 2,740 years.
If you gained 1% interest on a billion dollars every YEAR (not monthly), that would net you a passive income of $10,000,000 per year.
A guy named Dennis Kozlowski (embezzled $62 million from tyco) spent $15000 on an umbrella stand in 2002. That thing would be worth over $25,000 in today’s money.
I’m trying to illustrate a couple of points here. When you do accrue all that money (I’m not talking about ethics here because we have established that some ethical boundaries have to be crossed and most everyone agrees with that), that money, even just sitting still accrues more money. And spending it isn’t as easy as people seem to think.
Neither is giving it away. McKenzie Bezos is a good example. She managed it and the complaint then became that she did so irresponsibly. And even when people who come into this type of wealth manage it, there’s no pleasing some people. Because even Chuck Feeny still gets a whole lot of flak from the eat the rich people just for becoming a billionaire in the first place. (I’m not on the side of the rich people. So don’t even start).
Giving it away irresponsibly compounds the problem and can cause catastrophic economic events for the poor and working class.
Can we actually educate ourselves on the difference between assets, cash, investments, and net worth? Because net worth doesn’t mean ready cash.
To spend a billion dollars in the lifetime of the average human being (80 years) you’d have to spend $34,246 a day.
If you spent $1000 a day it would take you 2,740 years.
If you gained 1% interest on a billion dollars every YEAR (not monthly), that would net you a passive income of $10,000,000 per year.
A guy named Dennis Kozlowski (embezzled $62 million from tyco) spent $15000 on an umbrella stand in 2002. That thing would be worth over $25,000 in today’s money.
I’m trying to illustrate a couple of points here. When you do accrue all that money (I’m not talking about ethics here because we have established that some ethical boundaries have to be crossed and most everyone agrees with that), that money, even just sitting still accrues more money. And spending it isn’t as easy as people seem to think.
Neither is giving it away. McKenzie Bezos is a good example. She managed it and the complaint then became that she did so irresponsibly. And even when people who come into this type of wealth manage it, there’s no pleasing some people. Because even Chuck Feeny still gets a whole lot of flak from the eat the rich people just for becoming a billionaire in the first place. (I’m not on the side of the rich people. So don’t even start).
Giving it away irresponsibly compounds the problem and can cause catastrophic economic events for the poor and working class.
Can we actually educate ourselves on the difference between assets, cash, investments, and net worth? Because net worth doesn’t mean ready cash.