The Forbes billionaires list in 2019 counted 607 billionaires in the US. By April 2024, this number had grown by 34 percent to 813. In dollar terms, US billionaires held $3.1 trillion in net wealth in 2019. This figure ballooned by 117 percent to $6.7 trillion by the end of 2024.
From the The Centi-Millionaire Report 2024:
“Over the past decade, the accepted benchmark for ‘super-wealthy’ status has risen dramatically, from USD 30 million in the late 1990s to a staggering USD 100 million today. This exclusive club, known as centi-millionaires, has grown by more than 50% over the last decade, and there are currently 29,350 individuals worldwide with liquid investable assets of USD 100 million or more.”1
These reports on billionaires and centi-millionaires are now painfully commonplace. But, I struggle with numbers that have 6, 9, and 12 zeros in them. Millions, Billions, and Trillions. I’m pretty good with single-digit numbers. My fingers come in handy. 100s, 1,000s, and 100,000s are OK too. But a million, billion or trillion??!!
A million is a 1,000 thousand. A billion is a 1,000 million and a trillion is a 1,000 billion. These are hard to even begin to conceptualize. Then, put a $ sign in front, and we are off to La La Land.
A Work Life Metric
What does lifetime earnings look like for a person at the median (middle of the pack) income in the US today? If their income increases slowly over time, starting at $40,0002 at age 22 and growing 2% annually for 43 years3 would produce lifetime earnings of $2.7 million.4
So, 37 people working for a lifetime (1,591 years collectively) would equal the $100 million income of a single centi-millionaire for one year.
It would take 370 people working for a lifetime (15,910 years collectively) to equal a $ billion.
Billionaire Tower Metric
Let’s work with a 100-dollar US paper bill.
and this building—Central Park Tower. It is 1,550 feet (472 meters) tall, which is more than five American football fields. It is one of the billionaire towers that now punctuate Midtown Manhattan.
How far up this building would a pile of 100-dollar bills5 that equals the median $40,000 annual earnings reach? 1.72 inches (4.73 cm). The lifetime earnings (43 years) of $2.7 million would reach 968 feet (295 meters). Five-eighths (~ 60%) of the way to the top.
How far up this building would a $100 million for the lowliest centi-millionaire reach? 35,833 ft. That is more than the height of 23 Central Park Towers stacked up!
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