Wealth disparity

[Jenn! 918]

Of the bottom 150 m, 40 m have negative worth. So some number of the remaining 110 m bring total net worth up to zero. Then tenet worth of whatever number remains is the net worth of the entire group.

I don't think it's all that crazy for the top 400 to exceed that number.

well that's my point. how can you judge if it's crazy or not without knowing "whatever number"?

[웃 910]

10 m net worth? It's rich. Gets you a nice apartment in the city.

You can get a really nice 2 bedroom on the 30th floor in the city for 2 to 3 million with big windows and nice views. Now where is the remaining 7 to 8 million? A couple nice cars and 7 million plus in the bank. That is filthy rich amigo.

[^_^ 5,021]

You can get a really nice 2 bedroom on the 30th floor in the city for 2 to 3 million with big windows and nice views. Now where is the remaining 7 to 8 million? A couple nice cars and 7 million plus in the bank. That is filthy rich amigo.

Filthy rich people in the city don't live in 2 bedroom apartments with nice windows. That's entry level I-banker #######.

[웃 910]

Filthy rich people in the city don't live in 2 bedroom apartments with nice windows. That's entry level I-banker #######.

But do the entry level bankers have 7-8 million sitting in the bank for a $10 million net worth?

[^_^ 5,021]

But do the entry level bankers have 7-8 million sitting in the bank for a $10 million net worth?

It takes maybe 5 years. Ok sometimes 10.

[웃 910]

It takes maybe 5 years. Ok sometimes 10.

Oh ya, well guess who made the top 10 list of most millionaires and guess who didn't?

Here are the tallies of millionaires for the top 10, along with the percentage growth:

New York – 667,200, +18.7%

Los Angeles – 235,800, +13.3%

Chicago – 198,100, +15.1%

Washington, D.C. – 152,400 +19.3%

San Francisco – 138,300 +14.5%

Philadelphia – 104,100, +20.1%

Boston – 102,300, + 14.4%

Detroit – 89,100, +12.1%

Houston –- 88,200, +28.9%

San Jose — 86,500, +24.5%

Edited March 16, 2011 by Lord Infamous

[^_^ 5,021]

NYC is there, I'd expect that. The Vatican of capitalism belongs at the top.

[Ban Hammer 13,333]

Just because it's worth less than a parking spot in manhattan doesn't mean you're underwater

or that i can park over 100 cars here.

you keep on enjoying the city, i'll keep on enjoying the wildlife in the back yard.

[^_^ 5,021]

or that i can park over 100 cars here.

you keep on enjoying the city, i'll keep on enjoying the wildlife in the back yard.

I'm nowhere near the city. Can't afford the parking.

[mawilson 2,133]

Filthy rich people in the city don't live in 2 bedroom apartments with nice windows. That's entry level I-banker #######.

Indeed. Even I have that

[mawilson 2,133]

well that's my point. how can you judge if it's crazy or not without knowing "whatever number"?

Here's the Forbes 400 list:

#1 Bill Gates $56B

#2 Warren Buffett $50B

#3 Larry Ellison $39.5B

#4 Christy Walton & family $26.5B

#5 Charles Koch $22B

#6 David Koch $22B

#7 Jim Walton $21.3B

#8 Alice Walton $21.2B

#9 S. Robson Walton $21B

#10 Michael Bloomberg $18.1B

#11 Larry Page $19.8B

#12 Sergey Brin $19.8B

#13 Sheldon Adelson $23.3B

#14 George Soros $14.5B

#15 Michael Dell $14.6B

#16 Steve Ballmer $14.5B

#17 Paul Allen $13B

#18 Jeff Bezos $18.1B

#19 Anne Cox Chambers $13.4B

#20 John Paulson $16B

#21 Donald Bren $12B

#22 Abigail Johnson $11.3B

#23 Phil Knight $12.7B

#24 Carl Icahn $12.5B

#25 Ronald Perelman $12B

#26 John Mars $10B

#27 Jacqueline Mars $10B

#28 Forrest Mars $10B

#29 George Kaiser $9.8B

#30 James Simons $10.6B

#31 Len Blavatnik $10.1B

#32 Steve Cohen $8B

#33 Edward Johnson $7.1B

#34 Philip Anschutz $7.5B

#35 James Goodnight $6.9B

#36 Mark Zuckerberg $13.5B

#37 Jack Taylor & family $7.4B

#38 Rupert Murdoch $7.6B

#39 Samuel Newhouse $6.6B

#40 Jim Kennedy $6.7B

#41 Blair Parry-Okeden $6.7B

#42 Steve Jobs $8.3B

#43 Andrew Beal $6.6B

#44 Eli Broad $5.8B

#45 Harold Hamm $8.6B

#46 Patrick Soon-Shiong $5.2B

#47 Pierre Omidyar $6.7B

#48 Eric Schmidt $7B

#49 Donald Newhouse $5.8B

#50 Charles Butt & family $5.3B

...