While we talk sometimes about billionaires here on this channel, some people took a step
forward and moved to trillionaires.
well, we don’t have one yet, but it seems like someone is about to become one very soon.
The Confederation of Oxfam predicts that, if their wealth keeps growing as it has been
for the last couple of years, one of these two people will become the worlds first trillionaire
in the next 25 years.
That's not surprising news considering that he made 28 billion dollars in 2018(Jeff Bezos).
What else can you expect from a man who has his newspaper (Washington post, business insider),
and a rocket company to leave the earth in case if we decide to destroy each other.
However my dear friend, let's do something different in this video and talk about you
and me, where are we on this wealth equation.
How rich we really are, do we even stand a chance to join the top 1 percent, how far
are we from the top 1 percent that rules the world?
I have some good and bad news.
The good one is, you might be in the top 1 percent but you haven’t really realized
that because the bad news is, this 1 percent doesn't really have as much influence in the
world as people think.
Let me explain.
If you have a net worth of at least 10 thousand dollars, you are literally wealthier than
70 percent of all the adults around the world.
Even if you work at McDonald's and make just enough to survive, you are already considered
to be at the top 30 percent of wealthiest people in the world.
Unfortunately, 3,474 Billion adults don’t even have a net worth that exceeds 10 thousand
dollars.
In fact, the bottom 70% controls only 2.7 percent of the total global wealth.
That sounds bad but that's the world we live in.
If you live in the United States or any other first world country, you probably own a car,
a smartphone, maybe an iPhone and a bunch of other things that raises your net worth
to something between 10K to 100K thousand dollars.
Congratulations, you are officially in the top 30 percent.
Of course, life isn’t great at this bracket, but you are making ends meet.
And if we take your wealth and over a billion people or the 21.3 percent of adults who have
a net worth of 10 to a 100 grand, your total wealth will only amount to less than 12 percent
of the global wealth (11.6).
remember at this stage, you don’t even own a house, because if you do, you are in the
top 8%(7.9%).
You are richer than 92% of the world if your net worth exceeds at least 100 thousand dollars.
Out of 5 billion adults, only a small fraction of less than 400 million are in this category
(391 Mln).
You are not really rich at this point, but you are certainly in the middle class.
You have a good job, you can afford to go for a vacation, maybe once a year.
Isn’t that enough?!
Because if you are wealthier than that, then you are definitely in the top 1 percent.
According to Credit Suisse, if everything you own equals to at least a million dollar,
then you are in the top 0.7 percent.
It might seem like they are super rich and powerful individuals but they are not, they
are just good lowers, doctor or engineers who make 100 to 300 grand a year, you might
be one of them or at least you know someone who makes that much of money.
These people are rich, but not to the point where they can even afford a private jet.
because if you can, you are in the top 0.01% with an average annual income of 31.6 Million
dollars.
The cheapest private jet is 5 million dollars and maintaining one will cost you at least
half a million a year.
So you can't afford one if you are not in the top 0.01%.
The people that you see on the Forbes list, people that control most powerful corporations
in the world, or billionaires, in general, are the top 0.000024 percent.
they either earned that by themselves or inherited it but in general, they don’t really know
what to do with all of that money.
So getting to the top 1 percent isn’t as difficult as it seems.
You don’t even have to start your own business, just by working a little harder than the rest
of your colleagues, you will most probably join the 1%.
The challenging part is to get to 0.01 percent or the 0.00001 percent.
Anyways, if you have enjoyed this video, give it a thumbs up.
I thought it would be interesting to share with you these numbers.
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Thanks for watching and I will see you in the next one.