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The value of USD is not constant. Either you adjust the 1970 values to today’s dollar, giving you $17B for Hughes’ fortune, or you index the $100B by the minimu
by ricardobeat 5y ago
The value of USD is not constant. Either you adjust the 1970 values to today’s dollar, giving you $17B for Hughes’ fortune, or you index the $100B by the minimum salary giving you 23B vs 2.5B, a less than 10x increase. Not unreasonable considering the global scale business can have today.
- strogonoff 5y agoNotably, when adjusted for inflation, the minimum wage in the US has actually dropped since 1970, at which point it was almost 9 in today’s USD.