4 ms·

Step 1: Have $2M in 1880s Step 2: Wait 150 years

by ragestorm 3y ago

jjtheblunt 3y ago
that only gets you to the 10 billion mark roughly, if i calculated right with wolframalpha curated data
deleted 3y ago
[deleted]
downrightmike 3y ago
Ben Franklin left Philly and Boston $1,000 each and after 200 years, that was $2m and $4.5m respectively. https://www.mentalfloss.com/article/627475/200-year-old-gift-from-benjamin-franklin-to-boston-and-philadelphia https://www.mentalfloss.com/article/627475/200-year-old-gift...
- missedthecue 3y ago
  He had some fairly guarded rules on how to manage it though, it wasn't thrown into Apple and Exxon shares.
  - downrightmike 3y ago
    Corporations were really different back then and were only created strictly for their purpose and rarely allowed to be created. Like the NYC water system is one of those old corporations. Now we can create a corp in another state for practically no money.
- jshprentz 3y ago
  Michael Meyer's recent book Benjamin Franklin's Last Bet details the origin and fate of his bequests to Philadelphia and Boston. The funds were intended to be loaned to aspiring tradesmen, who would repay their loans with interest over ten years. The two cities would receive some of the funds for public works after 100 years and the balance after 200 years. Both cities failed to manage the funds as Franklin intended. From Meyer's book, I learned more about Benjamin Franklin's life, about the challenges of fund management, and about the difficulty of controlling events from beyond the grave. [1] https://www.harpercollins.com/products/benjamin-franklins-last-bet-michael-meyer https://www.harpercollins.com/products/benjamin-franklins-la...
tcgv 3y ago
You would be starting at a much higher amount since $2,000,000 in 1880 is worth $60,201,176.47 today. The challenge is to get to these initial amounts in the first place. Source: CPI Inflation Calculator [https://www.in2013dollars.com/us/inflation/1880?amount=2000000 https://www.in2013dollars.com/us/inflation/1880?amount=20000...]
amelius 3y ago
There should really be a law that says that "just waiting" gives you $0, otherwise your monetary theory is unstable and you need to go back to school.

Step 1: Have $2M in 1880s Step 2: Wait 150 years

jjtheblunt 3y ago

that only gets you to the 10 billion mark roughly, if i calculated right with wolframalpha curated data

deleted 3y ago

[deleted]

downrightmike 3y ago

Ben Franklin left Philly and Boston $1,000 each and after 200 years, that was $2m and $4.5m respectively. https://www.mentalfloss.com/article/627475/200-year-old-gift-from-benjamin-franklin-to-boston-and-philadelphia https://www.mentalfloss.com/article/627475/200-year-old-gift...

missedthecue 3y ago
He had some fairly guarded rules on how to manage it though, it wasn't thrown into Apple and Exxon shares.
- downrightmike 3y ago
  Corporations were really different back then and were only created strictly for their purpose and rarely allowed to be created. Like the NYC water system is one of those old corporations. Now we can create a corp in another state for practically no money.
jshprentz 3y ago
Michael Meyer's recent book Benjamin Franklin's Last Bet details the origin and fate of his bequests to Philadelphia and Boston. The funds were intended to be loaned to aspiring tradesmen, who would repay their loans with interest over ten years. The two cities would receive some of the funds for public works after 100 years and the balance after 200 years. Both cities failed to manage the funds as Franklin intended. From Meyer's book, I learned more about Benjamin Franklin's life, about the challenges of fund management, and about the difficulty of controlling events from beyond the grave. [1] https://www.harpercollins.com/products/benjamin-franklins-last-bet-michael-meyer https://www.harpercollins.com/products/benjamin-franklins-la...

tcgv 3y ago

You would be starting at a much higher amount since $2,000,000 in 1880 is worth $60,201,176.47 today. The challenge is to get to these initial amounts in the first place. Source: CPI Inflation Calculator [https://www.in2013dollars.com/us/inflation/1880?amount=2000000 https://www.in2013dollars.com/us/inflation/1880?amount=20000...]

amelius 3y ago

There should really be a law that says that "just waiting" gives you $0, otherwise your monetary theory is unstable and you need to go back to school.