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In 2018, Bill Gates' net worth was approximately $90 billion. His estimated income was around $12 billion, according to estimates from Business Insider.
In 2018, the median net worth of an American household was $101,800. I chose median cause these billionaires drastically skew the mean. The median household income was $63,179.
If an average American household gave the same scale of gift in 2018, based on household income, the gift would be $83.29, and based on net worth, it'd be $17.89.
So it's the equivalent of letting you kid buy a DVD from the discount bin.
Gates may be one of the better billionaires, but it's still like comparing prostate cancer to brain cancer.
What makes you think that ? The missing bad headlines in the newspapers ?
When you are a billionaire a $16m ranch is middle class.
Remember the difference between 1 million and 1 billion, is 1 billion.
I suppose, to her, having millions of dollars is soooo far away from her life that she has to look at it with binoculars and think that it should be middle-class.
These rich people are so disconnected from the actual reality that the rest of us live in that it's not funny. And to make matters worse, a lot of these rich people see themselves as visionaries and leaders. Imagine that, blind visionaries. And to make matters even worse than that, a lot of people worship these 'visionaries' that can't even picture what life is like without billions of dollars, as if they have all the answers.
Much like the soon to be german chancellor, who told an interviewer, that he is upper middle class. All that while being a former Blackrock manager and owning (and using regularily) a personal private jet. Thats some kind of chancellor material...
Tbf, it is "merely" a private prop plane, not a jet (which would be significantly more expensive still). But yeah, not exactly middle class material…
Everyone in the US is middle class. You can be upper middle class or lower middle class, but you can never not be middle class.
$16 Million Horse Farm and middle class income. Can he drop the farm to some random person from middle class so we can compare the outcomes ?
To be fair, out of all the billionaires they at least have made attempts to not make their kids shiteheads which is in stark contrast to most billionaires. At one point in time at least, they were only leaving $10m to each child, with plans to donate everything else.
Is that enough to live better than 99.99% of us? Absolutely. But it's also not: I can do whatever I want and buy whatever I want and never have to think about money again.
That’s all she’s saying. They raised the kids with limits. That’s what she should have said. They obviously weren’t raised “middle class” or anything like it.
I mean, its really open to interpretation.
If Melinda got them up in the morning, made them breakfast and drove them to school herself and picked them up (Even if its in a Bentley), make their snacks when they get home and helped them with their homework(even if you're getting the snacks out of a walk-in fridge and the housekeeper bought them) thats some regular people shit.
If you have the nanny get them up, the driver take them to school and pick them up then their tutor helps them with their homework while your chef asks them what they would like for dinner... thats not.
this is not how generational wealth work.
lets say you are 17. having a party in the house with 100k cash in your bank account. you hear dad talk about a big merger "this company will be this company and the stock will go up" you put 50k on that and now you have 300k or something.
I sat with a few upper class once, if I have cache on hand I will be millionaire by now, it doesn't take much to get rich when you hang out with rich people....
It's more like "Hey, I have an idea for a new type of toilet. Can you get me a meeting with your golf buddy who is the CEO of the largest toilet company in the world?". This is literally how Microsoft started.
But it's also not: I can do whatever I want and buy whatever I want and never have to think about money again.
leaving $10m to each child, with plans to donate everything else
The plans were to donate everything else to a tax-advantaged "charity" in which the Gates family retains complete financial control.
This is not philanthropy. It is tax avoidance, greenwashing, and a public relations campaign.
when gates was on reddit, he choose AMA sub, so he wouldnt get criticized, they wouldnt allow you to question him on his charities being used tax evasion or money laundering.
Yeah, it might be public relations, but the malaria nets and polio vaccines and HIV treatments and guinea work eradication did actually save millions of lives.
It's one thing to argue that doing good doesn't make up for doing bad, but it's another thing to refuse to acknowledge the good at all.
the countries have complained about his vaccines as being only sourced from us backed countries, so most of them couldnt afford it. he still pretty much a ruthless business man, like the above comments he is greenwashing his image.
How many billionaires are sourcing from locals? Guessing the answer is closer to none.
I want to be this middle class...
How much can a banana cost, Michael? $10?
I wish that had not been foreshadowing...
