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There are 536 billionaires in the United States. If you have $1 billion, and you earn a measly 2% return on it, then your yearly income is $20 million. If you
by aetherson 11y ago
There are 536 billionaires in the United States. If you have $1 billion, and you earn a measly 2% return on it, then your yearly income is $20 million. If your yearly income is $20 million and you blow $10 million of that on stuff other than entertainment, then you can spend $25,000 every night and not exceed your entertainment budget.
Obviously that's not actually how it works out -- lots of people who do this stuff are not billionaires, the above is not how billionaires finances work, etc. But it gets at the scale of money available to a top end group of people who are a minuscule fraction of the population but because the population is large, are actually a fairly sizable absolute number of people who can throw that kind of money around.