Wednesday, January 20, 2010

Wealth and the Recession

Back in the day there used to be all these sites about Bill Gates and how much money he has.
The best information came from:

He has always hovered around the 50 Billion dollar mark, but in 1999 he was worth a whopping 89 Billion. To put 56 Billion dollars in perspective:

Lets compare his wealth to yours. Let’s say you are worth $70,000. Mr. Gates' worth is 800,000 times larger. Which means that if something costs $100,000 to you, to Bill it's as though it costs 12 cents. So for example, you might think a new Lamborghini Diablo would cost $250,000, but in Bill Gates dollars that's 31 cents. Can you believe that? A nice home in a rich town like Palo Alto, California? Two dollars. That nice mansion he's building estimated at 55 Million dollars? A more reasonable $63 to him. You might spend $50 on tickets, food and parking to take your date to see an NHL hockey game. Bill, on the other hand could buy the team for 50 Bill-bills. You might buy a plane ticket on a Boeing 747 for $1200 at full-fare coach. In Bill-bills, Mr. Gates could buy six 747s (Not tickets, the planes themselves). Two for him, two for Melinda and two for young Jennifer Katherine.

Now with big money comes even big losses. Here is how some people lost big this year.

Look at these staggering numbers:

Down 4.5 Billion
Rate of -$513,000 per hour!

Down $7 billion
Rate of -$800,000 per hour!

Down $8.2 Billion
Rate of -$940,000 per hour!

-$10 Billion
-$1.1 Million per hour!


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