Current Events > Jeff Bezos worth $160 billion

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YoshitoKikuchi
10/03/18 11:25:12 PM
#1:


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LightningAce11
10/03/18 11:26:05 PM
#2:


He can easily raise minimum wage and give bonuses to his employees.
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Turbam
10/03/18 11:26:23 PM
#3:


I'm much richer
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JacquesArc
10/03/18 11:26:58 PM
#4:


Damn, that's 160 billion more than Trump.
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Minute
10/03/18 11:27:40 PM
#5:


The media outlet attributes the jump in large part to Amazon's stock price soaring more than 100 percent since 2017.


BIG THINK
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yoshirulezz1
10/03/18 11:29:02 PM
#6:


What happens to rich peoples money when they die? Does it get stuck in a digital account?
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YoshitoKikuchi
10/04/18 9:58:37 AM
#7:


Up
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Tyranthraxus
10/04/18 10:02:37 AM
#8:


yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.
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REMercsChamp
10/04/18 10:04:23 AM
#9:


Tyranthraxus posted...
yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.

>Not leaving a huge fortune
>10 million each

Okay
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Flockaveli
10/04/18 10:05:25 AM
#10:


Why would someone ever need all that money?
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AlephZero
10/04/18 10:06:18 AM
#11:


eat the rich
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REMercsChamp
10/04/18 10:06:27 AM
#12:


Flockaveli posted...
Why would someone ever need all that money?

The lifestyle scales with the money

Million dollar bottles of wine, private islands, yachts, etc
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NES4EVER
10/04/18 10:07:35 AM
#13:


REMercsChamp posted...
Tyranthraxus posted...
yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.

>Not leaving a huge fortune
>10 million each

Okay


Well it's kind of like if I had 100 grand and I gave you $10.

It sure ain't much to me.
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TomNook20
10/04/18 10:07:35 AM
#14:


Flockaveli posted...
Why would someone ever need all that money?


It's not like he's got 160 billion in his checking account. It's mostly tied up in his stock, and since he's the CEO and holds such a large percentage of the stock he can't just sell it whenever he wants.
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Tyranthraxus
10/04/18 10:07:44 AM
#15:


REMercsChamp posted...
Tyranthraxus posted...
yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.

>Not leaving a huge fortune
>10 million each

Okay


10 million, with no safety nets from a still living daddy because that's literally all that's left, is really not a "set for life" thing unless they manage to get another source of income on their own. Many sports superstars exit their careers with more than 10 million and end up bankrupt.
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REMercsChamp
10/04/18 10:07:57 AM
#16:


NES4EVER posted...
REMercsChamp posted...
Tyranthraxus posted...
yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.

>Not leaving a huge fortune
>10 million each

Okay


Well it's kind of like if I had 100 grand and I gave you $10.

It sure ain't much to me.

No that's not the same

$10 is worthless. 10 million and you're set for life.
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REMercsChamp
10/04/18 10:08:33 AM
#17:


Tyranthraxus posted...
REMercsChamp posted...
Tyranthraxus posted...
yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.

>Not leaving a huge fortune
>10 million each

Okay


10 million, with no safety nets from a still living daddy because that's literally all that's left, is really not a "set for life" thing unless they manage to get another source of income on their own. Many sports superstars exit their careers with more than 10 million and end up bankrupt.

That's because they spend extravagantly. You can live a normal life on 10 million easily.
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Alpha218
10/04/18 10:09:51 AM
#18:


REMercsChamp posted...
Tyranthraxus posted...
yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.

>Not leaving a huge fortune
>10 million each

Okay

Its not all that huge (relatively) when you consider their dad used to be the richest man in the world
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REMercsChamp
10/04/18 10:10:36 AM
#19:


Alpha218 posted...
REMercsChamp posted...
Tyranthraxus posted...
yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.

>Not leaving a huge fortune
>10 million each

Okay

Its not all that huge when you consider their dad used to be the richest man in the world

Yes but it's enough to not have to worry about anything the rest of your life

Most people would consider 10 million a fortune
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#20
Post #20 was unavailable or deleted.
Tyranthraxus
10/04/18 10:11:04 AM
#21:


REMercsChamp posted...
Tyranthraxus posted...
REMercsChamp posted...
Tyranthraxus posted...
yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.

>Not leaving a huge fortune
>10 million each

Okay


10 million, with no safety nets from a still living daddy because that's literally all that's left, is really not a "set for life" thing unless they manage to get another source of income on their own. Many sports superstars exit their careers with more than 10 million and end up bankrupt.

That's because they spend extravagantly. You can live a normal life on 10 million easily.


10 million is effectively upper middle class retirement money. You can live a nice comfy life without having to work, or you can try to invest and make more but if your investments don't pan out you end up broke.
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ssk9716757
10/04/18 10:13:15 AM
#22:


You can throw that $10 million in an index fund that tracks the S&P 500 and live an average life off the returns for the rest of your life. Thats definitely more than enough
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REMercsChamp
10/04/18 10:13:53 AM
#23:


Tyranthraxus posted...
REMercsChamp posted...
Tyranthraxus posted...
REMercsChamp posted...
Tyranthraxus posted...
yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.

>Not leaving a huge fortune
>10 million each

Okay


10 million, with no safety nets from a still living daddy because that's literally all that's left, is really not a "set for life" thing unless they manage to get another source of income on their own. Many sports superstars exit their careers with more than 10 million and end up bankrupt.

That's because they spend extravagantly. You can live a normal life on 10 million easily.


10 million is effectively upper middle class retirement money. You can live a nice comfy life without having to work, or you can try to invest and make more but if your investments don't pan out you end up broke.

We're talking about two different things

I'm talking about enough money to live a good, ordinary life in comfort with no problems. Which of course anyone would reasonably say you can do on $10 million

You're talking about extravagant lifestyles, gambling etc which of course is a different story.
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Master_Bass
10/04/18 10:15:50 AM
#24:


ssk9716757 posted...
You can throw that $10 million in an index fund that tracks the S&P 500 and live an average life off the returns for the rest of your life. Thats definitely more than enough

Yeah, it's way more than enough. People retire early on much lesser amounts.
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Rexdragon125
10/04/18 10:19:44 AM
#25:


Spooking posted...
Jeff Bezos worked hard to earn that money, and I find it funny that other people think they are entitled to it.

He worked 100 billion times harder than most people? Wow
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Howl
10/04/18 10:20:32 AM
#26:


Rexdragon125 posted...
Spooking posted...
Jeff Bezos worked hard to earn that money, and I find it funny that other people think they are entitled to it.

He worked 100 billion times harder than most people? Wow


I think most people have more than 160$.
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Minute
10/04/18 1:13:04 PM
#27:


ssk9716757 posted...
You can throw that $10 million in an index fund that tracks the S&P 500 and live an average life off the returns for the rest of your life. Thats definitely more than enough

7% annual return (average for the past 90 years is almost 10% but consider inflation, etc.) off 10 million is $700,000... Where do you live that that's "average"?
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Turtlebread
10/04/18 1:20:30 PM
#28:


Minute posted...
ssk9716757 posted...
You can throw that $10 million in an index fund that tracks the S&P 500 and live an average life off the returns for the rest of your life. Thats definitely more than enough

7% annual return (average for the past 90 years is almost 10% but consider inflation, etc.) off 10 million is $700,000... Where do you live that that's "average"?


Monaco baby
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YoshitoKikuchi
10/04/18 6:41:24 PM
#29:


How could you not make $10 million last a lifetime? You can't make $10 million last 60-70 years?
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CanuckCowboy
10/04/18 6:44:49 PM
#30:


Tyranthraxus posted...
REMercsChamp posted...
Tyranthraxus posted...
yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.

>Not leaving a huge fortune
>10 million each

Okay


10 million, with no safety nets from a still living daddy because that's literally all that's left, is really not a "set for life" thing unless they manage to get another source of income on their own. Many sports superstars exit their careers with more than 10 million and end up bankrupt.


That's cause they're idiots. If you live a reasonable upper middle class life you can easily make ten million last.

Also you can buy property and put the money to work for you in other ways. It's kinda absurd to say that's not set for life. Most working people will not even earn that in 40 years.
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HylianFox
10/04/18 6:58:53 PM
#31:


REMercsChamp posted...
Tyranthraxus posted...
yoshirulezz1 posted...
What happens to rich peoples money when they die? Does it get stuck in a digital account?

depends on the will.

Bill Gates is leaving 10 million (not billion) dollars to his kids each and the rest of it goes to the Gates Foundation for various charitable ends. He's been asked about it several times on Reddit AMAs and he says that leaving kids a huge fortune that he has doesn't really do them any favors.

>Not leaving a huge fortune
>10 million each

Okay

"My father gave me a small loan of a million dollars..."
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TendoDRM
10/04/18 7:05:18 PM
#32:


Howl posted...
Rexdragon125 posted...
Spooking posted...
Jeff Bezos worked hard to earn that money, and I find it funny that other people think they are entitled to it.

He worked 100 billion times harder than most people? Wow


I think most people have more than 160$.

$1.60
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Bio1590
10/04/18 7:08:24 PM
#33:


Bezos is gonna be that guy from Horizon Zero Dawn that becomes the world's first trillionaire after they start mining in outer space
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Minute
10/04/18 8:23:54 PM
#34:


I think if I had even $1,000,000 I could set myself up for life.
Like... okay... if I had that much, I'd probably continue to work, but if the challenge was "you have $1,000,000 and you must never work another day in your life again" it wouldn't be that hard. Invest it all in some sorta index fund or etf or something, ~7% returns is $70,000. Invest, say, $30,000 a year to beat inflation and that leaves you with $40,000.

Sure, that's not a lot for a sole income, but two things
a) it's liveable. Like I said, if I had $1,000,000, I would continue to work for a long time before I retired. I probably would just have it reinvest in itself instead of taking any returns, rule of 72 states that within 20 years it will have quadrupled in value.
b) it's completely independent of where you live and what lifestyle you maintain. Sure, you're not gonna live in a highrise in Manhattan, but you could live in fuckin rural Thailand and still be receiving payment.
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