Okay, how about this? If someone were to work every day for 50 years and if they invested everything they earned at an 8% interest rate, they would need to earn approximately $1.4M/day to reach Elon’s current level of wealth.
At $5,000/day income and 8% interest investments, it would take 120 years to accumulate $340B.
Yes. Your math is correct. My point was never “billionaires good”, but rather the meme is disingenuous. But I guess any time anyone says anything other than “billionaires bad” they get downvoted.
I’m not really sure why you’re being downvoted. I up voted you.
I didn’t actually mean to imply that I disagreed with you. I was just giving some alternative numbers to demonstrate the issue in a more realistic way. I also didn’t think you were implying that billionaires are good just because the example in this post isn’t the best one.
Your point is still not clear to me. It could be interpreted as $5,000 in today’s money every day since long ago. It still is a lot of money per day, even in the equivalent money back then. 5 cents then (or whatever) is what $5,000 feels like today. So what’s your point?
Okay, how about this? If someone were to work every day for 50 years and if they invested everything they earned at an 8% interest rate, they would need to earn approximately $1.4M/day to reach Elon’s current level of wealth.
At $5,000/day income and 8% interest investments, it would take 120 years to accumulate $340B.
Yes. Your math is correct. My point was never “billionaires good”, but rather the meme is disingenuous. But I guess any time anyone says anything other than “billionaires bad” they get downvoted.
I’m not really sure why you’re being downvoted. I up voted you.
I didn’t actually mean to imply that I disagreed with you. I was just giving some alternative numbers to demonstrate the issue in a more realistic way. I also didn’t think you were implying that billionaires are good just because the example in this post isn’t the best one.
Your point is still not clear to me. It could be interpreted as $5,000 in today’s money every day since long ago. It still is a lot of money per day, even in the equivalent money back then. 5 cents then (or whatever) is what $5,000 feels like today. So what’s your point?
If you are still asking what my point is after my two comments, I think we’re done here.