He spent 75 million for the house next to one he already owned. He's worth $156 billion.
Let's say you have 100k in the bank. The equivalent purchase for you would be something costing roughly $50. He bought a mansion worth more than I'll ever see for proportionally less than what I would spend on an AAA video game.
Oh and it'll either hold value or appreciate, so he will likely just make more money on it. Or at the very least pay relatively a lot less once he decides to sell.
Let's say you have 100k in the bank. The equivalent purchase for you
Not necessarily a good comparison, because most people with 100K in the bank have a higher income/savings ratio than Bezos (whose income is basically just the return on his wealth).
So it would be more accurate to say, "Let's say you are retired with 100K in the bank. The equivalent expense for you would be $50.64".
Yeah that's fair. But also it's realistically vastly more complicated and almost incomparable because with $156B you can actually manipulate markets to improve your returns. People will buy your house at a premium to say they own Jeff Bezos' previous property. Etc. Beyond the direct ratio comparison, there are so many fundamentally inequal parts about wealth at that scale.
Say he earns less than a high yield savings account for a year (~4.5% currently), he can retire on only that year's income with over 7 billion in the bank and this purchase would be more like someone with 100k saved spending 1k (on a house).
He spent 75 million for the house next to one he already owned. He's worth $156 billion.
Let's say you have 100k in the bank. The equivalent purchase for you would be something costing roughly $50. He bought a mansion worth more than I'll ever see for proportionally less than what I would spend on an AAA video game.
Oh and it'll either hold value or appreciate, so he will likely just make more money on it. Or at the very least pay relatively a lot less once he decides to sell.
Not necessarily a good comparison, because most people with 100K in the bank have a higher income/savings ratio than Bezos (whose income is basically just the return on his wealth).
So it would be more accurate to say, "Let's say you are retired with 100K in the bank. The equivalent expense for you would be $50.64".
Yeah that's fair. But also it's realistically vastly more complicated and almost incomparable because with $156B you can actually manipulate markets to improve your returns. People will buy your house at a premium to say they own Jeff Bezos' previous property. Etc. Beyond the direct ratio comparison, there are so many fundamentally inequal parts about wealth at that scale.
Say he earns less than a high yield savings account for a year (~4.5% currently), he can retire on only that year's income with over 7 billion in the bank and this purchase would be more like someone with 100k saved spending 1k (on a house).
All hail capitalism…