this post was submitted on 26 Jun 2024
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The 8 richest people in the world according to investopedia have a combined net worth of about $1,369 billion. Divide that by 3.6 billion and it is about $380 per person. Idk what the average net worth of the poorest half of the world's population is, but I doubt it is below $380.
TL;DR: I'm calling bullshit.
The way net worth works, many people are negative. Meaning they have more liability than assets.
Hmm, that is actually an interesting point. If it is negative, does it bring down the sum in this? If so, how much of the world is my net worth greater than? A billion? Two?
I don't know, I do know when you compare gross wealth something ridiculous like half the USA is in the top 10 percent. That of course takes nothing like Purchasing Power Parity or Required Goods, (like a functioning car) into account. You've got to be very careful with these kinds of statistics.
One thing we know for sure though, you can take 99% of a Billionaire's wealth and they'd still never need to work another day in their life. And it's not even like they'd need a strict budget to make that happen. (A lot of "financially independent" people got enough dividend stocks to bring in 100K a year and retired, they need a strict budget to keep not working.)