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Yes. Here is an interesting perspective from someone on Reddit. I don't know if the person is full of sh*t or not but it's still an interesting perspective. I'm going to shorten it here but linked to the full read. I am only posting their view on a person with more than $1B in wealth.Originally Posted by WNYresident
If Mr. Pegula made a camp fire and literally burnt 3/4 of all his cash he would still be rich.
I can answer this one. For some reason, I attract these people into my life. I don't do anything super extraordinary. I am not famous. But I count many peoplewith ultra high net wealth among my close friends and I have spent more time than even I can believe with 8 different billionaires. This is not just meet-and-greet time. This is small group and even one-to-one time. I dated the daughter of one billionaire several decades ago. So I have gotten a peek into this life.Using the 10,000x more rule to a guy making $40k a year.
Let's get one thing out of the way. There are gradations of rich. I see four major breaking points:
$1billion
I am going to exclude the $10b+ crowd, because they live a head-of-state life. But at $1b, life changes. You can buy anything. ANYTHING. In broad terms, this is what you can buy:
Access. You now can just ask your staff to contact anyone and you will get a call back..........
Influence. Yes, you can buy influence. As a billionaire, you have manyways to shape public policy and the public debate, and you use them..........
Time. Yes, you can buy time. You literally never wait for anything. Travel? you fly private. Show up at the airport, sit down in the plane and the door closes and you take off in 2 minutes.........
Experiences. Dream of it and you can have it. Want to play tennis with Pete Sampras (not him in particular, but that type of star)? Call his people. For a donation of $100k+ to his charity, you could probably play a match with him.........
RESPECT. The respect you get at this level is just over-the-top. You are THE MAN in almost every circle. Governors look up to you. Fortune 500 CEOs look up to you. Presidents and Kings look at you as a peer.
PERSPECTIVE. The wealthiest person I have spent time with makes about $400mm/year. i couldn't get my mind around that until I did this: OK--let's compare it with someone who makes $40,000/year. It is 10,000x more. Now let's look at prices the way he might. A new Lambo--$235,000 becaome $23.50. First class ticket internationally? $10,000 becomes $1. A full time executive level helper? $8,000/month becomes $0.80/month. A $10mm piece of art you love? $1000. Expensive, so you have to plan a bit. A suite at the best hotel in NYC $10,000/night is $1/night. A $50million home in the Hamptons? $5,000. There is literally nothing you can't buy except.
Love. Sorry to sound so trite, but it is nearly impossible to have a normal emotional relationship at this level. It is hard to sacrifice for another person when you are never asked to sacrifice ANYTHING. Money can solve all problems for someone, so you offer it, because there is so much else to do. Your time is SOOOO valuable that you ration it. And that makes you lose connections with people.
The Bills cost Terry $140,000.
A Billion stadium would cost Terry $100,000.
We also have to factor in the likelihood that he has BILLIONS in liquid cash. Using a very basic 4% return on $1B, that's $40M in cash per year. $2B is $80M. And so on... He has so much money that I think he's making more money than he could ever possibly spend...including a new stadium.
