Forbes media billionaires

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5 members have voted

May 7th, 2018 at 4:33:38 PM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: Evenbob
I know a 63 year old farmer in
IA who isn't married and owns
a 10 year old 4000 sq ft 5 bedroom
6 bath house. Why? Because he
can. It's ridiculous, he lives in 10%
of it.


I used to have a small bedroom I made into an office I hardly used, an empty bedroom I would not even enter for months, and a living room I just walked thru. When I bought the house I thought I would get a roommate to cut costs but never did. It is why I looked so small this time. Really, I wish I could lay it out different, bigger kitchen, maybe 250 more sq ft total.

It is major hard to find the perfect place for 1-2 people. If I built from scratch I would make more of a cottage, but a nice big porch for plants and some bachelor comforts, hot tub and one of those new phone-booth saunas. But a bunch of useless rooms? Meh.
The President is a fink.
May 7th, 2018 at 5:21:48 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 146
Posts: 25010
Quote: AZDuffman
But a bunch of useless rooms? Meh.


He pays property tax on bathrooms
he's never used, which is most of
them. I don't get it.
If you take a risk, you may lose. If you never take a risk, you will always lose.
October 11th, 2021 at 9:49:01 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
The list of centi-billionaires has added a second non-American besides the king of luxury goods, Bernard Arnault, from France.
Mukesh Ambani from India has made the list with his energy based portfolio


Forbes Real Time Billionaires 11 October 2021
1 Elon Musk $203.5 B
2 Jeff Bezos $189.5 B
3 Bernard Arnault & family $176.0 B
4 Bill Gates $130.6 B
5 Larry Ellison $124.1 B
6 Larry Page $118.8 B
7 Mark Zuckerberg $116.5 B
8 Sergey Brin $114.5 B
9 Warren Buffett $102.0 B
10 Mukesh Ambani $101.1 B

The Bloomberg Billionaires Index 11 October 2021 also counts 10 people but substitutes Steve Ballmer for Mukesh
1 Elon Musk 224B +
2 Jeff Bezos 189B -
3 Bernard Arnault 155B -
4 Bill Gates 127B -
5 Larry Page 124B -
6 Mark Zuckerberg 121B -
7 Sergey Brin 119B -
8 Larry Ellison 109B +
9 Steve Ballmer 105B -
10 Warren Buffett 102B -
11 Mukesh Ambani 99.7B -
12 Francoise Bettencourt Meyers 81.8B - (world's wealthiest woman)
October 12th, 2021 at 9:54:15 AM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 146
Posts: 25010
I just read that Elon Musk is actually worth $233 billion. Still not even close to John Rockefeller senior who when he died was worth an estimated 500 billion dollars in today's money. Those were the days when a dollar actually bought you something. Those were the days when you could hire a full-time servant for $500 a year. When you could buy a new car for a few hundred. When you could buy a 2000 square foot house for under ten thousand. In actual buying power Rockefeller was worth far more than 500 billion.
If you take a risk, you may lose. If you never take a risk, you will always lose.
October 12th, 2021 at 10:30:31 AM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: Evenbob
I just read that Elon Musk is actually worth $233 billion.




Even though Musk paid almost $30 million for this six bedroom home built in 1916, for a man of his net worth this home is practically a fixer upper. Bezos has half a dozen homes that are far more spectacular.
October 12th, 2021 at 10:31:45 AM permalink
OnceDear
Member since: Nov 21, 2017
Threads: 11
Posts: 1504
Quote: Evenbob
I just read that Elon Musk is actually worth $233 billion. Still not even close to John Rockefeller senior who when he died was worth an estimated 500 billion dollars in today's money. Those were the days when a dollar actually bought you something. Those were the days when you could hire a full-time servant for $500 a year. When you could buy a new car for a few hundred. When you could buy a 2000 square foot house for under ten thousand. In actual buying power Rockefeller was worth far more than 500 billion.
You made me curious EB. So I went to look up the inflation rates since 'cowboy times' of around 1850
It was enlightening in that You've had several years with > 20% inflation and an awful lot of years with deflation.
https://www.officialdata.org/us/inflation/1850?amount=1

Some remarkable charts there!

$1 in 1937 is worth $19.00 today. So Rockerfeller left ~ $9500 Billion in today's money

1 dollar in 1850 would be worth $35 today.
I wonder how different the inflation rate would be for say, the price of a horse, or the price of a bottle of whiskey, or the price of a Dollar store steak.

I Read the price of a horse might have been $10 and the price of a saddle $15
https://www.quora.com/How-much-did-it-cost-to-own-and-travel-with-a-horse-back-in-the-1850s-or-1860s?share=1

I doubt you could buy much of a horse for $350 today?

Horse, Currently >>$5,000
https://www.equinenow.com/unitedstates.htm

And was the equivalent of a dollar store steak really about 3 cents?

Dread to think what property price inflation was.

Still. A Dollar will always buy a Dollar, but a Bitcoin will always buy just under a Bitcoin
October 12th, 2021 at 11:19:06 AM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 146
Posts: 25010
Quote: OnceDear


$1 in 1937 is worth $19.00 today. So Rockerfeller left ~ $9500 Billion in today's money


Rockefellers net worth at the time of his death was 1.3 billion dollars. Adjusted for inflation and trying to put it into today's spending power that translates into 450 to 500 billion. First person in the United States to actually be a billionaire.
If you take a risk, you may lose. If you never take a risk, you will always lose.
October 12th, 2021 at 1:54:25 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: OnceDear
I wonder how different the inflation rate would be for say, the price of a horse, or the price of a bottle of whiskey, or the price of a Dollar store steak.


Inflation rates are probably good for milk and bread and very little else,

The Empire State Building cost $40,948,900 to build, including demolition of the Waldorf–Astoria in 1930-1931
BLS CPI Inflation Calculator equivalency over $700 million today.
Floor count 102
Floor area 2,248,355 sq ft
Elevators 73

Bank of America Tower opened in 2009 and cost roughly $1 billion
Floor count 55 (7 mechanical) +3 basement floors
Floor area 2,100,000 sq ft
Elevators 52
October 12th, 2021 at 3:28:55 PM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: OnceDear
You made me curious EB. So I went to look up the inflation rates since 'cowboy times' of around 1850
It was enlightening in that You've had several years with > 20% inflation and an awful lot of years with deflation.
https://www.officialdata.org/us/inflation/1850?amount=1


Anything before 1913 and the Fed is meaningless. The monetary system was reset then. Been unofficially reset 3 times since with another coming but the inflation rate ports over.
The President is a fink.
October 12th, 2021 at 4:35:45 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 146
Posts: 25010
Quote: Pacomartin
Inflation rates are probably good for milk and bread and very little else,


Inflation rates are almost impossible to calculate accurately cuz you have to go almost on an item-by-item basis. Take beer as an example. In 1965 you can get a case of beer for $5. Depending on where you are you can get a case of beer today for under $20. If you went by the inflation table a case of beer should be costing $40. A pound of ground beef in 1965 was $0.33. The average price for a pound of ground beef today is $4.50. The inflation table says it should be around $2.75. That's what I mean when I say John Rockefeller was worth a lot more money than the inflation table claims he was worth. I cannot buy for $8 today what I could buy for a dollar in 1965. In 1965 I could buy 2 gallons of gas, a McDonald's hamburger with fries, a pack of cigarettes, and a full-size candy bar. Depending on where you live today all that would cost you almost $15. The inflation table says it should cost you $8.
If you take a risk, you may lose. If you never take a risk, you will always lose.
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