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this post was submitted on 09 Aug 2024
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Right. You do have to still be smart enough in some way to retain the money/power. Or lucky/connected enough (daddy is watching out that dumb-as-rocks junior doesn't blow all of his $100m, etc)
If you earned 100m in your lifetime, you've only had a 10th of a billion dollars.
Musk has hundreds of billions of dollars.
That's a very, very big difference. He could literally set aside enough money for 10 very wealthy life times, and not even make a dent in his play money.
I'd call earning 30 mil over 60 years "very wealthy," which would net you 3333 lifetimes at that rate out of 100 billion.
Starting at 18 years old At that rate you could pay off a 3 bedroom house in a major city before you were 21. Even if you had to work 8-6, 6 days a week for that money you could probably retire by 40 years old.
That's a good point.