The Rich Get Richer


2 Points

To turn $100 into $110 is work . To turn 100 million into $110 million is inevitable.

Edgar Bronfman

Once you have so much money, its almost impossible to not have it grow exponentially.

I have crunched many numbers to find how little money i would need to live off the interest, while still making more money. At about $5,000,000, you could live off $200,000 while still making decent interest, and after ~10 years, youll have $10,000,000. Few years after that, youre making $1,000,000 in interest per year(after your $200,000/year).

TLDR: yes, the rich will just get richer.

5 Points

These kind of charts are a bit misleading because they are mostly based off stock price and company assets (both of which would be hard to convert to personal spendable wealth). If the government tried to seize all cash and assets form all 10 guys, the stock values and property values would crash to the point the Gov would only get a tiny portion of this wealth minus the loss in economic wealth as related industries also crashed making it pointless.

Now that doesn’t make the conversation on the percent of increase of the amount of wealth vs the average person less important to discuss, but it does drag the conversation to the extreme when you start with doing funny money fuzzy math using numbers that are only real on paper.

Heard Elon say he carries about $1B personal debt a month, but then sold most of his homes contributed hundreds of millions to charity and is about to back an award of $100M for the best idea in removing CO2 from the atmosphere. So how much of his money is cash vs how much is credit borrowed against his investments?
Bill gates is now one of the largest land owners in the US, but is all that land fully payed for? What are the loan payments, loan interest, property tax and insurance for that vs income off that land?
Elson owns an entire Hawaii island, how much per month does he have to pay the state and employees to maintain that amount of land?

What I would really be interested in seeing is how much actual cash is in these guys bank accounts vs their revolving monthly personal debt I would also be interested in seeing a break down of their personal investments to see how they protect and grow their personal money not directly tied to the companies they made.

BTW, Why are there not supper hot females on this top 10 list :thinking:

3 Points