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Well if you are asking where did their initial wealth come from, you are correct, it came from oil. But keep in mind that they have more than doubled their net
by chollida1 10y ago
Well if you are asking where did their initial wealth come from, you are correct, it came from oil.
But keep in mind that they have more than doubled their net worth in the past 8 years. And in those 8 years it was a diversified portfolio that more than doubled their wealth, so given that more than half their net worth was accumulated with a diversified company I can see where Forbes is coming from.
http://www.huffingtonpost.com/entry/koch-brothers-net-worth_us_56a3ac86e4b076aadcc6d1f4 http://www.huffingtonpost.com/entry/koch-brothers-net-worth_...
For what its worth Bloomberg also lists their industry as diversified.
TL/DR you and Forbes both have a point and the only reasonable thing is to is to take Obi Wan Kenobi's advice and agree that you're both right "from a certain point of view"
- idlewords 10y agoThank you, that's a helpful explanation!
- dwaltrip 10y agoFor those who are wondering (I was), doubling your money in 8 years is about an average return of 9%. So pretty solid, but not absurd. Although I imagine such returns, with acceptable risk levels, become harder to find when you are dealing with 11-figures.
- doublerebel 10y agoThe Rule of 72 will save you from having to wonder from now on.
- whamlastxmas 10y agoIt's actually been really quite easy for the past decade - just buy real estate. It's very expensive, easy to sink billions into, and over the past 8 years you'd be easily doubling your money on a lot of it.