> PERSPECTIVE. The wealthiest person I have spent time with makes about $400mm/year. i couldn't get my mind around that until I did this: OK--let's compare it with someone who makes $40,000/year. It is 10,000x more. Now let's look at prices the way he might. A new Lambo--$235,000 becaome $23.50. First class ticket internationally? $10,000 becomes $1. A full time executive level helper? $8,000/month becomes $0.80/month. A $10mm piece of art you love? $1000. Expensive, so you have to plan a bit. A suite at the best hotel in NYC $10,000/night is $1/night. A $50million home in the Hamptons? $5,000.
[Edit] To be fair, these people probably exist, but they are very, very few (far higher than any banker or celebrity).
People who own > $8b, so a few 100, plus some more whose businesses are doing really well.
At the 10-30mm liquid bracket you are quite rich and can already buy any car you want, most homes based on income (3-5m/y+). Already at this bracket you can ALREADY call and talk with local and state level politicians regularly. And if you are a real smart mover, national politicians occasionally.
After that you get bigger boats, bigger yachts and maybe more headaches around international trade issues and regulations, but broadly not much else. You can indulge in some things you maybe can't get at the lower level -- but the brackets this person made up seem fictional. The major differences are your ability to invest and create companies/non-profits with little effort.
https://www.reddit.com/r/AskReddit/comments/2s9u0s/what_do_i...