Even billionaires need to budget. But what does a household budget look like to a billionaire? Andrew Hwang, associate professor of mathematics at the College of the Holy Cross breaks it down.
Writing for The Conversation, Hwang estimates a billionaire’s annual income to be $200 million per year, which would be over $6 per second and the equivalent of 4,000 median American incomes per year. In that vein, a $2,000-vacation would set a billionaire back what would be proportional to a half-dollar from a middle-class income.
Hwang goes on to say, “Most Americans don’t understand how inequitably American wealth is distributed. Worldwide, wealth inequality is even more stark.”
To read more, visit TheConversation.com.
Additional Coverage:
Chicago Tribune, Jan. 24
Salon, Jan. 25
Business Insider, Jan. 28
CNBC, Jan. 28
