Read on Twitter
1/ A Redditor who runs in high net worth circles writes on the "gradations of rich".
He explains in minute detail the difference between being worth $10m+ and $1B+.
It' a doozy
He explains in minute detail the difference between being worth $10m+ and $1B+.
It' a doozy
2/ As background: the Redditor says while he's not super rich himself, he counts 8 billionaires as close friends.
He says there are 4 major breaking points of "rich:
$10m-$30m
$30m-$100m
$100m-$1B
$1B+
He says there are 4 major breaking points of "rich:
$10m-$30m $30m-$100m $100m-$1B $1B+
3/ At $10m to $30m
Needs met
Fly 1st class
Very nice house
Live 4/5 star life anywhere
You can surive a financial disaster
At lower end, you still have to be "prudent"
Business stress remains (never goes away)
Banks don't classify you as ultra high net worth
Needs metFly 1st class Very nice houseLive 4/5 star life anywhere You can surive a financial disasterAt lower end, you still have to be "prudent" Business stress remains (never goes away)Banks don't classify you as ultra high net worth
4/ At $30m to #100m
5/ At $100m to $1B
6/ At $1B+
This section is longer but he goes through things you can buy at this level:
Access
Influence
Time
Experiences
Impact
Respect
This section is longer but he goes through things you can buy at this level:
Access Influence Time Experiences Impact Respect
7/ Here are the Redditors closing thoughts.
8/ If you like discovering gold from Reddit, def follow @TrungTPhan.
If you want to @ me, just send all complaints to the original post: https://www.reddit.com/r/AskReddit/comments/2s9u0s/what_do_insanely_wealthy_people_buy_that_ordinary/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
If you want to @ me, just send all complaints to the original post: https://www.reddit.com/r/AskReddit/comments/2s9u0s/what_do_insanely_wealthy_people_buy_that_ordinary/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
9/ FYI: If you’re new to the Trung experience, heres a collection of my smartest threads and dumbest memes https://twitter.com/TrungTPhan/status/1388861558529302532
10/ Wow, this Reddit thread taking off.
Here are some of my own personal stories from meeting billionaires: https://twitter.com/trungtphan/status/1380902135752126475
Here are some of my own personal stories from meeting billionaires: https://twitter.com/trungtphan/status/1380902135752126475
11/ This is interesting, too https://twitter.com/nevmed/status/1389615721186013185?s=20
12/ Lastly, check out the “Not Investment Advice” podcast as we’ll discuss this absurdity next ep
13/ To give a 360 view: pulled a bunch of quotes from Reddit and Quora threads on the "downside of being wealthy":
