Reply to Net worth over $20 million

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Is it true that only 280,000 people in the US have a net worth over $20 million? [b]That seems low. [/b] Is that an old figure from before the stock market went bananas?[/quote]

Why, OP? Because there are like 3 of you hanging out on this forum and posting how easy it must be to accumulate this wealth we should assume that everybody and their mother is loaded?  :lol:

What do we do with various statistics of how most US households are a job loss away from being destitute and don't even have a few months of savings available to them? Or people who are close to retirement and have less than 500K NW?   280k is less than 1% of total US population, it sounds about right to me.  There are millions of low millionaires but 20 mil is a different level that's much harder to achieve because vast majority of people aren't good at investing without panic or creating successful businesses or earning 7 figures. [/quote]

It’s estimated that 40% of Nvidia’s workforce is worth $20MM or more…that’s like 15,000 people at just one company.

Now extrapolate to [b]all these tech companies[/b] that have seen huge stock runs over the last several years…not to mention OpenAI is private and is valued at $250BN, so you have hundreds there worth at least $20MM [b]on paper[/b]…as well as at all these other AI companies.[/quote]

You might have answered your own question here.  1) the stats apparently consider "investable capital", I am not sure if company stock is this.  2) Nvidia had breakaway returns that do not reflect "all other" tech companies.  Is there some tech sector stock market boom I am not noticing? Most large companies do not allocate much in terms of options for newer employees, and the number of old employees isn't as high as you think.  AI thing is iffy and so far it's more about investment into it vs returns.. Returns might be dubious

How many people with liquid capital of 20 mil are there in your opinion? [/quote]

I think public company stock is investable capital and would get counted in the $20MM.

Seems you have not been paying attention in general.  MSFT is up 10x in the last decade…same for META…PLTR is up 30x in just the last 15 months…AAPL is up 10x in the last decade.  Go look at the charts of lots of tech companies.[/quote]

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