Friday, December 20, 2013

Warren Buffett -- Increases His Net Worth at $380.34 a second in 2013.

http://www.bloomberg.com/video/warren-buffett-made-380-34-a-second-in-2013-08h_PW2IQruK75mzjAY_EQ.html

I was going to say "$380 per second" but then I realized that making only 34 cents a second would be $10,722,240, hardly a mere rounding error.

Someone making $100,000 per year makes almost one-third of a penny per second.  Actually $0.0031709.    Buffett makes 110,000 times more than that person.

Of course, my example is not apples to apples since Buffett is not receiving $11B in new salary.  rather, his investments growth of 24% this year creates his additional wealth.  But the typical person making $100,000 per year (studies have shown) has virtually no net worth and lives paycheck to paycheck.  So if we ask how much did their net worth grow in 2013, the answer may very well be $0.

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