this post was submitted on 08 Dec 2024
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Which CEOs are actually worth keeping around? (i.imgur.com)
submitted 2 weeks ago by [email protected] to c/[email protected]
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[–] [email protected] 12 points 2 weeks ago

Reminder, 1 billion dollars is:

  • 1,000 millions
  • 1 million thousands
  • At the highest minimum wage in the world (Denmark @ USD$44,252/year), it would take just under 22,598 years to earn (11.2 Jesuses-ago)
  • If a Dane earning min wage were to work 24 hrs/day non-stop, it would take them just under 4,977 years to earn (2.46 Jesuses-ago).

Billionaires have all that money even after their expenses. It's their "savings account", but their savings account makes much more interest than ours because they are actually invested in the market. If they need money beyond their regular pay, they use their investments as collateral for loans with interest rates lower than investment returns. They're making money even if they are spending it.