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Interesting factoid
Oct. 6th, 2008 11:41 amI was reading a New York Times article: "End of an Era on Wall Street."
About halfway down the first page, I found an interesting little paragraph:
Wow.
I wonder what the difference is, in practical terms of everyday comfort and security, between having 159 million dollars and having almost nine times that much. Is it really different? Or is it mostly the same?
About halfway down the first page, I found an interesting little paragraph:
Over all, the past quarter-century has redefined the notion of wealth. In 1982, the first year of the Forbes 400 list, it took about $159 million in today’s dollars to make the list; this year, the minimum price of entry was $1.3 billion.So the 400th richest person in the US has nearly 9 times as much money now as the 400th richest person in the US did 20 years ago. In real terms, not counting inflation.
Wow.
I wonder what the difference is, in practical terms of everyday comfort and security, between having 159 million dollars and having almost nine times that much. Is it really different? Or is it mostly the same?
