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In contrast with the prototypical lottery winner who burns through all their money and ends up basically where they started, this guy didn't spend any significa
by alecst 5y ago
In contrast with the prototypical lottery winner who burns through all their money and ends up basically where they started, this guy didn't spend any significant amount of his money and ended up basically where he started.
- adrianN 5y agoExcept this guy never has to work again if he doesn't want to.
- Animats 5y agoMost people who suddenly make a lot of money blow through it in only seven years. (From "The Challenges of Wealth", 1988). This guy is doing the right thing. Many of those people making at high salaries at FAANG companies need to be saving more of it, because they'll be over the hill in their 40s, with 40 years left to go.
- treesknees 5y agoThere's a balancing act of saving vs spending. A lot of people pinch pennies and save for retirement, working 60-80 hr weeks, skipping vacations and family parties, buying the cheapest car, etc. When they get to be 65 their health prevents them from actually enjoying that money. Maybe they get to that age and they die and never get to spend any of it. I do hope this guy is at least going on some trips and utilizing his gift while he can. Seems pretty pointless to hoard $50M to do nothing with it (yes, he collects the interest, but my point still stands.)