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Who has more money than governments? Sergey Brin is worth about $65 billion. The US federal budget is ~$3 trillion _per year_
by saddlerustle 6y ago
Who has more money than governments? Sergey Brin is worth about $65 billion. The US federal budget is ~$3 trillion _per year_
- deleted 6y ago[deleted]
- selectodude 6y agoThe US is the wealthiest country on earth. Sergei Brin's checking account would be the 74th largest GDP in the world.
- jrockway 6y agoChecking account or total value of investments?
- selectodude 6y agoIt was a figure of speech. Obviously he doesn't have an 11 figure bank balance.
- deleted 6y ago[deleted]
- cycrutchfield 6y agoWhy are you comparing somebody’s net worth to a GDP, which is a rate? That makes zero sense.
- Cyph0n 6y agoNo, it does make sense: Brin could pay to run the 74th largest economy for a year.
- cycrutchfield 6y agoThat's not what GDP means, and also a person's net worth is not necessarily liquid.
- michaelangerman 6y agoHere is one example... 5. Niger: Wealth per Adult: $1,017 Niger is the largest nation in West Africa, but more than 80% of its land area is in the Sahara Desert, so it is prone to drought and famine. The GDP as of 2017 was $9.87 billion, but the wealth per adult remained low despite economic reforms. Reference: https://www.investopedia.com/articles/managing-wealth/112916/richest-and-poorest-countries-capita-2016.asp https://www.investopedia.com/articles/managing-wealth/112916...
- saddlerustle 6y agoTo keep that in perspective, the GDP of Niger (population 22 million) is about the annual budget of San Francisco (population 900 thousand). Is comparing very poor countries to individuals from very rich countries a relevant framing? Global wealth disparities aren't a new phenomenon (and global wealth inequality is decreasing!)
- sytelus 6y agoUsually these comparisons are not very fair because it’s done by currency exchange rate conversion. For example, a person with mere $800 per month income in India can have superior life style than minimum wage worker in USA.
- catalogia 6y agoMansa Musa is said to have been so wealthy he crashed the economy of Egypt by giving away gold. Extremely wealthy people is not a new phenomenon. Maybe monarchs don't count because they're so wealthy they own entire countries outright? It seems to me that makes them more wealthy, not less.
- throwawaygh 6y ago> Mansa Musa That's a bit of a confusing thing, though, because he was also the emperor. (OT: I often wonder if his story is well-known in tech circles because of the end date of his reign.)
- missedthecue 6y agoThey have revenues of ~$3 trillion and expenses of ~$4 trillion so...
- crazysmoove 6y agoThere are other governments, though.
- dnautics 6y agoWell sure. A ton of people have more money than Nauru, or not restricting to international, cities and villages.