Lee Duna@lemmy.nz to World News@lemmy.worldEnglish · 1 year agoNext generation of billionaires collect more wealth from inheritance than from work, says UBSwww.theguardian.comexternal-linkmessage-square63fedilinkarrow-up1458arrow-down15
arrow-up1453arrow-down1external-linkNext generation of billionaires collect more wealth from inheritance than from work, says UBSwww.theguardian.comLee Duna@lemmy.nz to World News@lemmy.worldEnglish · 1 year agomessage-square63fedilink
minus-squareosarusan@kbin.sociallinkfedilinkarrow-up46·1 year agoI mean, if you inherit a billion dollars, that’s more money than you will ever earn in several lifetimes of actual work… so yeah.
minus-squareHyperreality@kbin.sociallinkfedilinkarrow-up12·edit-21 year ago that’s more money than you will ever earn in several lifetimes of actual work. Imagine you earn 20 dollars an hour, ten hours a day, work five days a week, two weeks vacation so that’s 50 weeks a year. 20 x 10 x 5 x 50 = 50,000 per year. All your expenses are covered for some reason. To earn a million dollars you would need to work 20 years. To earn a billion dollars you would need to work 20,000 years. To be as rich as Elon Musk is now, you would need to work 3.7 4.28 million years . e: updated Musk number.
minus-squareteichflamme@lemm.eelinkfedilinkEnglisharrow-up9arrow-down1·1 year agoLook, I hate to say it but Elon earned his money by working 370,000 times harder than the rest of us
minus-squareohitsbreadley@discuss.tchncs.delinkfedilinkEnglisharrow-up2·1 year ago …by working 370,000 times slaves in his daddy’s emerald mine harder than the rest of us. Fixed that for you.
minus-squareRagingRobot@lemmy.worldlinkfedilinkEnglisharrow-up9·1 year agoIt seems like there is definitely an upper limit to the amount of money you can make from actual work. That doesn’t seem fair
minus-squareprole@sh.itjust.workslinkfedilinkEnglisharrow-up9·1 year ago That doesn’t seem fair Ya don’t say
minus-squareBlackmist@feddit.uklinkfedilinkEnglisharrow-up3·edit-21 year agoIf you earn $100 an hour, and worked every day for 8 hours, and never spent anything, you’d have to have been working since 1400BC to earn a billion dollars.
minus-squareHyperreality@kbin.sociallinkfedilinkarrow-up5·edit-21 year agoOh, no. Far, far more than that. 1 billion / 50,000 a year = 20,000 years. Musk’s worth 214 billion / 50,000 a year = 4.28 million years. I say 214 but apparently it’s actually 214.8 billion. That 0.8 billion / 50,000 = 16000 years.
I mean, if you inherit a billion dollars, that’s more money than you will ever earn in several lifetimes of actual work… so yeah.
Imagine you earn 20 dollars an hour, ten hours a day, work five days a week, two weeks vacation so that’s 50 weeks a year.
20 x 10 x 5 x 50 = 50,000 per year. All your expenses are covered for some reason.
To earn a million dollars you would need to work 20 years.
To earn a billion dollars you would need to work 20,000 years.
To be as rich as Elon Musk is now, you would need to work
3.74.28 million years .e: updated Musk number.
Look, I hate to say it but Elon earned his money by working 370,000 times harder than the rest of us
Fixed that for you.
It seems like there is definitely an upper limit to the amount of money you can make from actual work. That doesn’t seem fair
Ya don’t say
If you earn $100 an hour, and worked every day for 8 hours, and never spent anything, you’d have to have been working since 1400BC to earn a billion dollars.
Removed by mod
Oh, no. Far, far more than that.
1 billion / 50,000 a year = 20,000 years.
Musk’s worth 214 billion / 50,000 a year = 4.28 million years.
I say 214 but apparently it’s actually 214.8 billion. That 0.8 billion / 50,000 = 16000 years.