12/19/2022
Whatâs the difference between being worth $10m+ and $1B+?
I came across this thread on Twitter written by Trung Phan and deemed it badass enough to be shared.
Stay with me to the end, I 100% guarantee youâll love it.
Here we go:
A Redditor who runs in High Net Worth circles writes on the âgradations of the richâ.
He explains in minute detail the difference between being worth $10m+ and $1B+
Itâs a doozy.
As background: The Redditor says while heâs not super rich yet himself, he counts 8 billionaires as close friends.
He says there are 4 major breaking points of wealth:
1. $10m - $30m
2. $30m - $100m
3. $100m - $1B
4. $1B+
At $10m to $30m:
⢠Needs met
⢠Flies First Class
⢠Very nice house
⢠Live 4/5 star life anywhere on the planet
⢠You can survive a financial disaster
⢠At lower end, you still have to be âprudentâ
⢠Business stress remains (never goes away)
⢠Banks donât classify you as Ultra-High Net-Worth
At $30m to $100m:
At this point, you start playing with the big boys.
You can fly private (though you normally charter a flight or own a jet fractionally through Net Jets or the likes).
You stay at 5 star hotels.
You have multiple residences.
You vacation in prime-time
(you rent a ski-in, ski-out villa in Aspen for Christmas week or go to Monaco for the Grand Prix, or Cannes for the Film Festival; for what itâs worth, rent here is $15k - $20k a night)
You run or have a controlling interest in a big company.
You socialize with Congressmen, Senators and Community Leaders, and you are an extremely well-respected member in any community outside the worldâs great cities.
(In Beverly Hills, you are a minor player at $80 million. Unless you really throw your weight around and pay a much higher price for things, you might not get a table at the cityâs hottest restaurant).
You can buy any car you want.
You have personal assistants and are starting to have âpeopleâ that others have to talk to, to get to you.
You can travel ANYWHERE in any style.
You can buy pretty much anything that normal people think of as ârich people stuffâ
At $100m to $1B+:
I know itâs a wide range but life doesnât change much when you go from being worth $200m to $900m.
At this point, you have a private jet, multiple residences with staff, elite cars ownership or significant control over a business/entity that most of the public have heard about.
If itâs your thing, you can socialize with movie stars/politicians/rock stars/corporate elite/aristocracy.
[For the men, you can date whatever type of woman you want, be it a movie star, rock star, corporate elite, politician or aristocrat]
You might not get the invite to every party, but you can go pretty much everywhere you want.
You definitely have âpeopleâ and staff. The world is full of âyes menâ.
Your ability to buy things becomes an âartâ.
Starting to be cool, but it depends on the Island.
You just had dinner with Senator X and Governor Y at your home? Cool. But your billionaire friend just had dinner with the President.
You have a new Ferrari? Your friend thinks their steering handling sucks and has a classic only-five-exists-in-the-world-type of car instead.
One thing that gets rare at this level? Friends and Family that love you for who you are.
They exist. But itâs pretty damn hard to know which ones they are.
At $1B+
This section is longer but he goes through things you can buy at this level:
⢠Access
⢠Influence
⢠Time
⢠Experiences
⢠Impact
⢠Respect
(Side Note: We are going to exclude the $10B+ crowd because they live a Head-Of-State life. But at $1B+, life changes. You can buy ANYTHING. In broad terms, below are the kind of things you can buy:)
ACCESS
You can just ask your staff to contact anyone and you will get a call back.
I have seen this first hand and it is mind-blowing the level of access and respect $1B+ gets you.
In this case, I wanted to speak with a very well-known businessman (call him Billionaire #1) for a project that interested Billionaire #2.
I mentioned that it would be good to talk to Billionaire #1 and B2 told me that he didnât know him.
But he called his assistant in. âget me the ### golf club directory. Call B1 at home and tell him I want to talk to him.â
Within 60 minutes, we had a call back. I was at B1âs home talking to him the next day.
B2âs opinion commanded that kind of respect from a peer. Mind blowing.
The same is true with access to almost any Senator/Governor of a Billionaireâs party (because in most cases, he is a significant donor).
You meet on an ooccasional basis with heads-of-state and have real conversations with them. Which leads toâŚ
INFLUENCE
As a billionaire, you have many ways to shape public policy and the public debate, and you use them.
This is not in any evil way. The ones I know are passionate about ideas and are trying to do what they feel is best (just like you would).
But they just had an hour with the Governor privately, or with the Secretary of Health, or the BuyAds or Lobbyists.
The amount of Influence you have can be heady.
TIME
You literally never wait for anything. Travel? You fly private.
Show up at the airport, sit down in the plane, the door closes, and wheels are up in 2 minutes, and you fly directly to where you are going.
The plane waits for you. If you decide you want to leave at any time, you drive (or take a helicopter to the airport if thereâs traffic) and you leave.
The pilots and stewardess are your employees.
Golf? Your club is so exclusive, there is always a Tee time and no wait [You can enter at any time, theyâll give you a caddy and you start playing. There is no schedule that you have to wait for].
Going to the Super bowl or Grammyâs? You are whisked behind velvet ropes and escorted past any/all lines to the best seats in the house.
EXPERIENCES
Dream of it and you can have it. Want to play tennis with Roger Federer? Call his people. For a donation of $500k+ to his charity, you could probably play a match with him.
Like Beyonce? There is a price where they would simply come play at your private party.
Love art? Your people could arrange for the curator of the Louvre to show you around and even show you masterpieces that have not been exhibited in years.
Love Formula 1? How about racing Lewis Hamilton on a closed track?
Love Science? You can have dinner with Neil dGT.
Love politics? Have Hilary Clinton come speak at a dinner for you and your friends. Just pay her speaking fee.
Your mind is the only limit to what is available.
Because donations/fees gets you anyone.
The same is true with things.
You like Pianos? How about owning one Mozart used to compose music on?
This is the type of stuff you can do.
IMPACT
Your money can literally change the world and change lives.
It is almost too much of a burden to think about.
Clean water for a whole village forever? Chump change.
A dying child needs a transplant? Hell⌠you could just build and fund a hospital and do it for an entire region.
RESPECT
The respect you get at this level is just over-the-top.
You are THE MAN in almost every circle.
Governors look up to you. Fortune 500 CEOs look up to you. Presidents, Prime Ministers and Heads-of-State look at you as a peer.
PERSPECTIVE
The wealthiest person I have spent time with makes about $400m per year.
I couldnât get my head around that until I did this maths.
Okay. Letâs compare it with someone who makes $40,000/year. It is 10,000 times more.
Now, letâs look at prices the way he might.
A new Lambo? $235,000 becomes $23.50.
First class ticket internationally? $10,000 becomes $1
A full time executive level helper? $8,000/month becomes $0.8/month.
A $10m Picasso piece of art you love? $1,000. A bit expensive, so you may have to plan for that. Lol.
A suite at the best hotel in New York City? $10,000/night becomes $1/night.
A $50m home in the Bahamas? $5,000.
There is literally nothing you canât buy except
LOVE
Sorry to sound so trite, but it is nearly impossible to have a normal emotional relationship at this level. It is hard to sacrifice for another person when you are never asked to sacrifice ANYTHING.
Money can solve all the problems for someone, so you offer it because there is so much else to do.
Your time is SOOOOOO valuable that you ration it obsessively. And that makes you lose connections with people.
Seeing all these may or may not make you want to get into the top tier.
Different lives have the same emotional degree of difficulty, all things being equal.
I met Sylvester Stallone at a party a few months back for the first time.
Great guy. Has a beautiful, smart wife and a great career.
But he had a special needs son who died young.
Nobody has it all. Nobody.