Lanhdanan
119467
4317
107
Dec 30, 2020 12:14 PM
Lanhdanan
119467
4317
107
Chimpanzeezeetop
March 17 1747 to hit the 1 billion mark
lynxBeast
This is why financial math always makes me sad. There is no getting ahead most of the time. Just changing course at best.
torokunai
"I guess the trouble was that we didn't have any self-admitted proletarians. Everyone was a temporarily embarrassed capitalist." - Steinbeck
GRMM
It would take me about 300 years of work to “earn” what Bezos does every hour. So gross
SleepIsNotMyFriend
Jeez, i looked at these numbers and thought "no way this is true". Well, the calculator confirms it is indeed true
trippingthelightfantastic
PooPculture
Unfortunately a lot of people are foolish and and have had hard lives, so they want others to have to suffer as well.
SheTurnedMeIntoANewtButIGotBetter
If i earned 10k a day since the foundation of my country (Portugal, 1143) i would have 59 TIMES LESS than Jeff Bezos net worth (191 billion)
Pbateman1
So all I have to do to be a billionaire is live for over 250 years and earn 10k a day. Might do it the easier way and earn 70k a week
MachineInterface
I don't get the point of these posts. Everyone knows you don't become billionaire through wage. The debate is whether any of the other ways>
MachineInterface
is acceptable.
KrisSommer
((2021-1776)x365)x10,000= 894,250,000
ReleaseTheBeeees
If you made $2k an hour, 40hrs a week, for 2000 years, there'd still be like 50 Americans richer than you. But yeah it's all about hard work
Atomic2
Nobody says its just hard work though, wealth is grown from risk. I mean arguably there will be folks that say its all exploitation, which >
Atomic2
tbf is also a part of it for many estates, but if it was as simple as "just" exploiting people anyone could become a billionaire. There is >
Atomic2
a fair bit of risk involved. Risking everything for an idea that might fall flat on its face, or risking all your assets playing dangerous >
Atomic2
investments that might fall flat on their faces. Nobody just becomes a billionaire. //
ReleaseTheBeeees
What are massive corporations risking now when they get bailed out every time it goes wrong?
beasttubbs
To put it even more in perspective, think how much an extra $10,000 per YEAR would change your life
chriselric
There's no more making excuses for the disgustingly rich. They're scarcely even human, and they need to be destroyed
jery007
10 thousand/ day would solve all my debt issues in 3 1/2 months
kalamazandy
Actually if you made 10k every day since 1776, you’d have nothing, because you are dead.
DaisyfromDownunder
...and baronesses.
yallheardofthatnewbanddeath
The Avatar 2 movie budget is 1 billion, just saying
Gantzz321
You have $1 Billion and spend $1000 every day from the day Jesus was born until today, you would still have over $250 MILLION
CorruptedOP
Well if you learned about and invested with compound interest, at an interest rate of 3% you'd have almost $1.5Bn
PoopSammich
echogirltwink
Eat the rich
rnj454
Wealth, shown to scale
https://mkorostoff.github.io/1-pixel-wealth/
InsincereSam
.
BigFatUglyBugFacedBabyEatingOBrien
Jesus Christ I couldn’t even make it to the end of that.
rnj454
And before y'all hit me with that "it's stocks, not cash" argument, there's still no moral defense. Stocks can be easily and quickly 1/
AutumnalDreams
Moral defense for what exactly? Not wanting to spend their money? Because there is no moral defense to avoiding paying the taxes they 1/2
noneofyournuts
This is always lost on people. I do t care that you accumulate as much wealth as want and earn but just pay fair taxes.
AutumnalDreams
2/2 should pay if it's a fair %, of course. But what moral defense are you talking about currently?
rnj454
Two things, both are legal but immoral. Tax avoidance is one. The other is not using that wealth to help those that truly need it.
AutumnalDreams
Bullshit about the second one. My wealth is my own. I pay my dues to society, I have done my end. It's not immoral to not give money away.
rnj454
liquidated (over reasonable lengths of time) without tanking stock value. It's a weak argument. 2/2
MarysueUltrabittch
They'll come at you with the physical assets & job creation angle as if creating indentured servitude conditions is worth that kind of money
rnj454
Job creation =/= slave creation & the amount of capital required to create jobs instead of slaves is not significantly different at scale.
MarysueUltrabittch
They'll also argue morality is subjective and that the suffering of millions of people (not just americans) is irrelevant.
rnj454
If the wealth had been redistributed (read as not stolen from the laborers) appropriately from the start, there wouldn't be any suffering 1/
MarysueUltrabittch
Did I miss anything aside from "You can't tell people what to do with their money"? Because the govt does exactly that.
myrdin
This post is written and commented by people who have never heard of the term compound interest...
myrdin
over that period of time with a 6% return (which is average) you would have 9,524,951,618,160.37
fsharpminor3s
894,830,000
bashful8
[img]
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bashful8
Source: https://oxfamilibrary.openrepository.com/bitstream/handle/10546/620928/bp-time-to-care-inequality-200120-summ-en.pdf
Crimx42
For those curious, you would have about 900mil, and in about 30 more years you would have 1 bil
mtgjbone
(3,650,000 x 244) = 890,600,000. If we count all the leap years, 61, another 610,000.
MarshallDaemon
Should be 245. 2021-1776. 1 day from end of year. 70 total leap days. (365 x 245+70-1) * 10k. 894,940,000
ButterfaceTaintClown
HandoB4Javert
You would be too old to enjoy it.
jtd0060
Is that $10,000 is 1776 dollars? Or is that money adjusted to 10,000? Because $10,000 in 1914 is $258,073 in 2020 at 2,480.73% inflation.
[deleted]
[deleted]
TjMulligan
What? Is there a money storage cost?
JeezusJuice
Maybe in a bank, but this is obviously not considering banking regulations. It’s more like if you kept your money in an underground bunker.
JeezusJuice
It’s also using Federal Reserve Notes, not gold backed dollars. I think a gold dollar would have a different value. It’s a stupid point, tbh
BionicToad
I was about to do the math then I realized somebody else must have done it. And here you are. Thank you.
Sproggo
What if u invested in a conservative portfolio tho
KevorkianScarf
Jesus Christ
peachsashimi
Can confirm
joe6paques
So hang in there!
shutupthisisreal
WellspringGames
::insert cat poster::
removekarling
it's ok i'll settle for 1000 a day, can i have that
RhamnusiaThePaladin
You forgot inflation.
JeezusJuice
That has nothing to do with anything. Inflation doesn’t take dollars away from you.
gpixelVillain
Yeah i really was wondering how old i need to become in Case i'll make that much a day :)
ProfessorAssBlast2020
Thats a long time making all that money and not spending any
Crabpeoplez
Not that hard to not spend money when you've been dead for 200 years
cokeandhookers
At least I'd still be voting!
chrisbgg
If you put it in an Index Fund from 1776, you would be the richest man on the planet.. given you lived frugal, and that long...
TobiFuenke
So what you are saying is that I have a chance?
crayfishermetimbers
are you making $10,000 a day? and have 274 years to live? and spend none of it?
TobiFuenke
Yes.
uptaco
shorey66
Only in US. In UK we class a billion as a million million (12 zeros).
DiscountOneLiners
I’m confused. A billion Is only a thousand millions. A million millions would be a trillion.
JeezusJuice
https://en.m.wikipedia.org/wiki/Billion
DiscountOneLiners
Well call me educated and slap me smarter....
deafmute
I remember on Doctor Who they used the term million million. Because there were talking about stars it registered as millions of millions.
JeezusJuice
Britain officially changed to the short scale in 1974. https://commonslibrary.parliament.uk/research-briefings/sn04440/ - The long scale may
JeezusJuice
be used in common speech still, but everyone means 10^9 when talking about money in an official capacity.
shorey66
Huh. That I did not know. Thanks
DeKetsendeRechter
Does that account for inflation?
JeezusJuice
No. Inflation doesn’t change the number of dollars you have, just the value of each dollar.
JeezusJuice
This example is clearly assuming banks aren’t involved.
JeezusJuice
$10k in 1776 is worth almost $300k today. If someone put $10k in a mattress in $1776, it’d still be $10k today. (Actually, it wouldn’t ...
JeezusJuice
because I’m pretty sure those were gold and silver notes, so I think they’d have a different value assigned, but that’s not the point.)
DeKetsendeRechter
That's the point - that 10k was worth a lot more back then, it was much harder to amass it. To become a billionaire would have been >
DeKetsendeRechter
even harder back at that start date. So it's much worse than your example.
Lanhdanan
... in 30 more years, since 1776. Such a massive number.
McFitSteak
So about 275 years of hard work rewarded unfairly with only $10.000/day
Crimx42
Yes, not arguing against the ridiculous aspects of the values. Just presenting data.
im2short2die
How DARE YOU present data!
texasfoodman
Compound the interest at an assumed rate of 3.257%
GizmosBabySitter
QUICK MATH!
v4iyf7y4pf1337
What makes someone like Elon Musk a “robber baron” exactly? He has created successful companies that advance mankind. But billionaire = bad!
noneofyournuts
I think the issue is that wealth is not bad but tax avoidance is. People always confused both and that actually detracts from a solution
v4iyf7y4pf1337
Good point. Refreshing to see someone contributing a thoughtful comment that has more complexity than “rich bad”. Trumps $75k hair write off
v4iyf7y4pf1337
Is a good example tax avoidance taken to the extreme.
JimStarluck
His name is on the paper, but it's the employees he underpays who did the work. He just took all the credit & profits.
v4iyf7y4pf1337
Loving that Marxist ideology I see.
JimStarluck
Anyone else could have done the same if they started off as rich as he did. He's not a genius, he's not a hard worker; he just had money.
v4iyf7y4pf1337
Anyone else? Lol. Guarantee you you couldn’t, even with billions. It was discipline, drive, and ambition that created his success, not $.
arewenotkingsandqueenstogether
Bullshit.
v4iyf7y4pf1337
Compelling argument.
FigmentImage
You realize that this has been disproven in economic simulations, right? Luck, especially luck early in life, is a better determination ...
FigmentImage
of wealth than talent. https://arxiv.org/abs/1802.07068
GuillermoRojo
And how could you guarantee it? We don’t know who we’re talking to on the internet.
pynergelado
Every company lives and dies by it's leadership. If your execs are lazy and irresponsible you will have lazy and irresponsible employees and
pynergelado
Inferior products. You must have never had a good and a bad ceo, they have to be tirelessly ambitious and devoted or else they cannot lead b
pynergelado
By example. Why work hard if your asshole boss just ducks off all day. I garuntee you that company would never have floureshed without him
FigmentImage
You mean like a lazy and irresponsible exec who publicly embarrasses the company by spending half his days tweeting and arguing with ...
FigmentImage
SJWs online, or gets high on a podcast because he thinks he's powerful and important enough to get away with it (spoilers: he wasn't)?
pynergelado
I mean the exec who is still on the ground level coding and sleeps on the office floor. But I'm not even talking about elon, I've personally