Let's Play "Make Believe"
Oct. 25th, 2013 02:30 pmLet's pretend that I'm the 7th richest person in the United States. I was reading today about trying to put huge amounts of money into perspective and I want to play that game. This could get extremely long, so forgive me. I may even use a very rare lj-cut at some point.
Right now, Mayor Michael Bloomberg is the 7th richest person in the US, 13th richest in the world with a $27 billion net worth. Let's pretend all of that is liquid for a moment and that none of it is or can be used to make even more money. I now have $27 billion just sitting there, waiting to be spent. What could I do with it?
Well, for starters my favorite vehicle is the BMW Z3. That's about $18,000. It's not a super-luxury car that's going to cost millions of dollars but it's a fun little car that I could definitely enjoy. And hey, if I wanted to switch it out for a different one every month for the rest of my life that would only cost me about $10 million over the course of the rest of my life.
That's a different BMW Z3, purchased every month for the next 50 years for only .03% of my net worth.
Okay, so I have a car now. What about a house?
Well, I don't need much. 10,000 sq feet? A reasonable price would be $200 per square foot for some of the nicer areas of the United States, all the way down to $60 per square foot but let's go on the high end. My 10,000 sq foot "humble" home would cost me $2,000,000. If I want to build it from scratch let's up that to $4,000,000. Let's say $6,000,000 after I furnish it. Reasonable?
Great!
Now, I get bored pretty quickly so I'll probably need to build myself a new house every 2 years or so. 25 new homes, $6,000,000 each (because who wants to move the furniture from the previous homes? That's such a hassle! We'll just buy new furniture.). $150 million over the course of 50 years and in the end I have 25 10,000 sq ft houses, fully furnished.
I now have spent $160 million dollars over the course of 50 years. That is 0.6% of my net worth.
Let's get big, then. Let's go really big.
Let's buy an island. That's big, right?
( This got really long. )
Here's what we end up with:
$13.5 Billion in Charitable Contributions
6 Caribbean Islands
A new home every 2 years
A new car every month for the rest of my life
A Yale education
Extremely fine dining for every meal for the rest of my life (personal chef/professional kitchen at my whim)
$1 billion left for my daughter when I die
New clothes every day for me and everyone in my family
My own private jet, probably several
Every video game ever made
Every movie on DVD
A full, high-end security detail to protect me and my family for the rest of my life
AND:
The realization that if it costs less than $10,000,000 the money doesn't even matter a little bit
For example:
Right now, Mayor Michael Bloomberg is the 7th richest person in the US, 13th richest in the world with a $27 billion net worth. Let's pretend all of that is liquid for a moment and that none of it is or can be used to make even more money. I now have $27 billion just sitting there, waiting to be spent. What could I do with it?
Well, for starters my favorite vehicle is the BMW Z3. That's about $18,000. It's not a super-luxury car that's going to cost millions of dollars but it's a fun little car that I could definitely enjoy. And hey, if I wanted to switch it out for a different one every month for the rest of my life that would only cost me about $10 million over the course of the rest of my life.
That's a different BMW Z3, purchased every month for the next 50 years for only .03% of my net worth.
Okay, so I have a car now. What about a house?
Well, I don't need much. 10,000 sq feet? A reasonable price would be $200 per square foot for some of the nicer areas of the United States, all the way down to $60 per square foot but let's go on the high end. My 10,000 sq foot "humble" home would cost me $2,000,000. If I want to build it from scratch let's up that to $4,000,000. Let's say $6,000,000 after I furnish it. Reasonable?
Great!
Now, I get bored pretty quickly so I'll probably need to build myself a new house every 2 years or so. 25 new homes, $6,000,000 each (because who wants to move the furniture from the previous homes? That's such a hassle! We'll just buy new furniture.). $150 million over the course of 50 years and in the end I have 25 10,000 sq ft houses, fully furnished.
I now have spent $160 million dollars over the course of 50 years. That is 0.6% of my net worth.
Let's get big, then. Let's go really big.
Let's buy an island. That's big, right?
( This got really long. )
Here's what we end up with:
$13.5 Billion in Charitable Contributions
6 Caribbean Islands
A new home every 2 years
A new car every month for the rest of my life
A Yale education
Extremely fine dining for every meal for the rest of my life (personal chef/professional kitchen at my whim)
$1 billion left for my daughter when I die
New clothes every day for me and everyone in my family
My own private jet, probably several
Every video game ever made
Every movie on DVD
A full, high-end security detail to protect me and my family for the rest of my life
AND:
The realization that if it costs less than $10,000,000 the money doesn't even matter a little bit
For example:
- Personal trainer
- Fresh flowers delivered daily
- Fully funding any kickstarter that catches my fancy
- Lois' education
- Live-in maid service
- Buying land for every LARP I enjoy
- and way more