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Jeff Bezos Is Now the World's Second Richest Person

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Re: Jeff Bezos Is Now the World's Second Richest Person

#101

Post by loeg »

axtscz wrote: post #97
11thEarlOfMar wrote: post #49

Earlier quoted context omitted.

Since 1990 (27 years ago) McDonald's has returned 10.87%, including the Internet Bubble and Subprime Mortgage crashes. March 30, 1990: $7.38 March 29, 2017: $128.84 I am not saying it'll be Bezos, but someone will get there within the next 2-3 decades. [edit] And while I'm at it, AMZN has returned 36%, annualized, over the last 10 years, encompassing the Subprime Mortgage crash.

That's also without accounting for inflation. Average USD inflation is something like 2.75% annually.

Fortunately, titles like "trillionaire" are ignorant of inflation as well.

Re: Jeff Bezos Is Now the World's Second Richest Person

#103

Post by nier »

Would it be possible for a guy like Jeff to sell all his stock and convert his wealth to, let’s say, gold? The motivation for my question is my doubt that the different sources of wealth are comparable. So this ranking is hypothetical. Wouldn’t the stock price drop if someone was to sell so many shares?

Re: Jeff Bezos Is Now the World's Second Richest Person

#104

Post by perseusprime11 »

executive wrote: post #95
peterjlee wrote: post #66

Earlier quoted context omitted.

If you count the number of billionaire, Palo Alto alone has 13 billionaires in a town of 66,000 people. It's ranked #25 on the list of cities with most billionaires and Seattle is not even on the list. https://www.forbes.com/sites/emilycanal/2016/03/09/the-citie...

and Palm Beach has 29 billionaires in a town of 10.5k people.

How do you get to this data? I would like to see the number of billionaires in my town if at all.

Re: Jeff Bezos Is Now the World's Second Richest Person

#105

Post by swah »

_m8fo wrote: post #84

Everytime I see these types of articles I wonder if we're still in feudalism. Should we really be celebrating that a single individual is worth more than hundreds of millions of people[1]? I dunno, it seems dystopian , like we're enslaved to the system. [1] https://www.oxfam.org/en/pressroom/pressreleases/2017-01-16/...

Its pretty amazing that it isn't someone with a surname like Rockfeller or Ford...

Re: Jeff Bezos Is Now the World's Second Richest Person

#106

Post by legulere »

israrkhan wrote: post #90

it is amazing how Bill Gates remain richest person in the world despite donating billions to Melinda & Gates foundation.

You know what would have been even more amazing? If Microsoft had not landed in its monopolistic position it had. Then all that money that landed at bill gates which is even more, could have been spent earlier on philanthropic means.

Re: Jeff Bezos Is Now the World's Second Richest Person

#107

Post by greghatch »

mjfl wrote: post #100
_m8fo wrote: post #84

Everytime I see these types of articles I wonder if we're still in feudalism. Should we really be celebrating that a single individual is worth more than hundreds of millions of people[1]? I dunno, it seems dystopian , like we're enslaved to the system. [1] https://www.oxfam.org/en/pressroom/pressreleases/2017-01-16/...

I think that's a little hyperbolic. In feudalism the balance of power is enforced by violence, whereas Jeff Bezos got rich because you gave him money in exchange for products. Like, "Hey, here's this cool electronic device called the Amazon Echo for $50." is a markedly different from "Farm here or I'll decapitate you." The fact that you harbor a resentment as if the former is anything like the latter is slightly terr…

The negatives need not be so similar for the two to occupy the same space of vast property ownership concerns - namely that a single person has what many consider to be a troubling amount of wealth and power.

EDIT: sentence structure change

Re: Jeff Bezos Is Now the World's Second Richest Person

#108

Post by eigenvalue »

11thEarlOfMar wrote: post #49
loeg wrote: post #42

Earlier quoted context omitted.

Assuming 27 years of 10% compounding is quite the leap.

Since 1990 (27 years ago) McDonald's has returned 10.87%, including the Internet Bubble and Subprime Mortgage crashes. March 30, 1990: $7.38 March 29, 2017: $128.84 I am not saying it'll be Bezos, but someone will get there within the next 2-3 decades. [edit] And while I'm at it, AMZN has returned 36%, annualized, over the last 10 years, encompassing the Subprime Mortgage crash.

It's actually 11.4% with dividends, and 12.5% if you reinvested the dividends in more shares when you got them!

Re: Jeff Bezos Is Now the World's Second Richest Person

#109

Post by behrlich »

legulere wrote: post #106
israrkhan wrote: post #90

it is amazing how Bill Gates remain richest person in the world despite donating billions to Melinda & Gates foundation.

You know what would have been even more amazing? If Microsoft had not landed in its monopolistic position it had. Then all that money that landed at bill gates which is even more, could have been spent earlier on philanthropic means.

Why do you think that money would have necessarily gone to philanthropy?

Re: Jeff Bezos Is Now the World's Second Richest Person

#110

Post by rajeshp1986 »

legulere wrote: post #106
israrkhan wrote: post #90

it is amazing how Bill Gates remain richest person in the world despite donating billions to Melinda & Gates foundation.

You know what would have been even more amazing? If Microsoft had not landed in its monopolistic position it had. Then all that money that landed at bill gates which is even more, could have been spent earlier on philanthropic means.

That is not necessarily true. That money might not have saved lives. You cannot say that for sure.
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