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The collective wealth of the 4 richest U.S. billionaires surpasses $1 trillion dollars for the first time ever.
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362 + 240 + 215 + 202 = 1019 billion
this post was submitted on 07 Dec 2024
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For context, that is about 1% of the GDP of the world.
Well if you want to have fun with that. Take Musks 362B listed here. Assume he does nothing but leave it in the market at the 10yr average growth of 11% interest. I saw the other day... He alone will have around 14T when he dies. Assuming he doesn't live into his 90s. (35 years was what I picked, assuming death at 88)
Edit: Throw in to help understand how much money that is. That's enough money to build a $250,000 house for everyone in America every 20 years (assuming average household is 3 people). Without touching the initial investment, and factoring in 3% annual inflation. Anyone buying a $400k house today that thinks it couldn't be built for $250k using mass purchasing and building teams I would assume to be wrong.
That would free up every rent/morgage payment in America to be spent elsewhere, allowing for economic growth in other areas.