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 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
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: reddit.com
If you want to @ me, just send all complaints to the original post: reddit.com
9/ FYI: If you’re new to the Trung experience, heres a collection of my smartest threads and dumbest memes
10/ Wow, this Reddit thread taking off.
Here are some of my own personal stories from meeting billionaires:
Here are some of my own personal stories from meeting billionaires:
11/ This is interesting, too
12/ Lastly, check out the “Not Investment Advice” podcast as we’ll discuss this absurdity next ep
🔗 youtu.be
🔗 youtu.be
13/ To give a 360 view: pulled a bunch of quotes from Reddit and Quora threads on the "downside of being wealthy":
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