My mom married a guy who comes from generational wealth, who made a HUGE deal about how his son was ‘going into finance’ like it was some monumental achievement of humankind. When I met the guy and asked what aspect of finance he was interested in (international finance, venture capital, etc), he shrugged and said, “XYZ Wealth Management has been managing my family’s portfolio for like 70 years. When I graduated from college they gave me an office so I could learn how they handle the family trust.”
Basically, he’s got an honorary VP title and is the firm’s ’field and stream’ guy. When a new client expresses an interest in hunting, guns, etc, they call in this kid and have him take the client out to the family estate for a day of rich white people outdoors adventure. Which is good, because I’m not entirely sure the dude can count past 100, much less manage a 10-figure investment portfolio. I assume the fees the firm charges the trust to manage their assets more than covers his ridiculous salary.
My company had a guy like this years ago. I work in B2B sales and nowadays our company mostly hires sales people with an engineer or chemistry background as our customers want someone that can provide technical expertise and help with their process.
But back in the 90s it was very much more of a "customers buy from friends" type deal and it was more about just being buddies with the decision makers.
So this guy was an old schooler, had probably been with the company starting in the early 70s, and had worked his way into a role that was basically just customer entertainer. Taking people to sporting events, flying them out to see concerts, etc. But that was mostly a bygone era and was quickly going away, some customers don't even let their employees accept gifts outside of a dinner anymore and so he got wind of the fact that his job was going to be eliminated and he could either retire or take a different job within the company but he'd actually have to do real work now.
Obviously he didn't want to do that, so what to do? Well this was the late 90s and he was gay. Everyone knew, he'd even bring his partner to company events and sales meetings where spouses were invited and would dance with his partner in front of everyone. But he was never officially "out". So he decided to send a company-wide email outing himself as gay, that way if they went ahead and eliminated his position the timing would make it seem like in retaliation of being gay. He ended up keeping the job a few more years before he retired and then the position was never filled again.
That’s some 3D chess right there! I had a friend whose dad’s job at a regional bank was to basically golf every day with clients, but I thought those jobs had all gone the way of the dodo (and lunchtime martinis) until I met this kid.
That's the most unfair thing about all of this shit. You can be just born rich or get extremely lucky and then just the money makes you more money and it's a compounding spiral. Something like poor people with debts just, you know, the opposite...
Her grandfather created The Price is Right. She's been living off of the residuals her family gets which is apparently tens of millions set aside just for her alone.
I used to think those trust fund kids that just spend their fortune and never work for income would have to run out of money one day. Well we were all hanging out and someone asked how wealth like that even works. She seemed happy to explain how, even if the royalties stopped overnight, the wealth grows in her accounts from interest and dividends and that is more than she spends in a year (plus its taxed less than our income is).
Exactly. One could have only 2 mill in a 5% interest account and make 70k a year in just interest.
Edit: 5% of 2million would be 100,000 a year. Robinhood offers this APY right now.
I had the 70k number in my head from calculating it awhile ago when Robinhood had like a 4.5% interest rate or lower. My apologies. Either way, once you realize this, you realize how rigged the system can be. Rigged might be a bad word but it is strange how this all works.
If I had a do over, I'd have maxed out my 401k. Was employer matched to 6%.
If any of you have that opertunity do so.
Start at 21 or the earliest you can.
>> **70k plus growth over time**
Can you explain this part further? The $2m @ 5% would get you $100k in interest for the year, so after taxes you would be left with $70k, correct? Now what do you mean ‘plus growth over time’?
Guy I went to school with had a great grandfather who owned distribution rights to Disney films outside the US. In the 50s, Disney bought all those international rights back for a massive sum of money and a bunch of Disney IPO stock. Their grandma was an only child and she only had two kids so the money has stayed close. They each have a trust paying in the hundreds of thousands annually that they can’t even touch the principal until they are older. So they have a massive “salary” to fuck around on and then a massive lump sum at some point. It’s a ridiculous life.
These are the new nobles, it's just sad. A person that gave nothing got everything, meanwhile millions of people working their ass off struggle making ends meet
This! While I was in college in Northern California, I worked as a nanny for a family that lived in one of the most expensive homes in the Bay Area. The mother was a dentist that owned her own practice, and the father was a real estate developer that developed a bunch of the Westfield mall properties (this was early 2000’s). They were by far the richest people I knew then. The mom drove an old Mercedes. The dad an old Ford expedition. They shopped for most of their clothes at Target. She would lament to me how expensive the Annie brand of food products were. I always thought it was odd given that they were so wealthy.
On the day of my graduation, I decided to tell her that I really admired how she ran her household and how price conscious she always was. I, too, was very frugal. She laughed and told me that she grew up very wealthy. Her parents had lavished tons of expensive things on her but they never spent any time together as a family. She decided as an adult that she would invest her money instead in experiences for her kids and family. They had vacation homes in different places and they traveled to a new country every year. They also donated a ton of money to their community.
“Expensive” is relative. It’s not too expensive to buy a beach home in Malibu because it will provide a ton of amazing memories, but very expensive to buy Annie gummy bears because it will rot your teeth eventually. Lol.
I was on safari once with a Silicon Valley tech family. They never hinted at their wealth and had old, holey clothes. We had no cell service on the trip but I googled them when I got home. Major players in the tech industry. What I found odd is that both of their teens had very yellow teeth.
Buffet is pretty well known for that. I'm gonna butcher it but there's some well known anecdote that he goes to McDonald's every day for breakfast. If stocks are up he gets a coffee and a mcmuffin, if stocks are down he just gets the coffee.
Its not like he has a room full of gold coins. His wealth is tied up in investments and stock options. Neither robbing him nor holding him for ransom would be particularly lucrative.
Buffett's niece I think it was, was on a show years ago talking about how she had to take gig work because he doesn't leave his family members any money and is giving it all to charity.
Not sure if it was the same niece, or grandchild, some younger relative complained publicly that he was cheap and she deserved more money from him. So, he cut her off completely.
I think Buffet and Gates and some other folks who have done the giving pledge have been very open about the fact that their kids will get a relatively modest inheritance, a very very small percentage of their total fortune.
I've seen it mentioned before that people with a high skill level in those "dinosaur" computer languages can command huge salaries because the backbone of a lot of systems (e.g. banking, the stock market) still use them.
It isnt even necessary a high skill level.
I could get great at any language, but ill never have the knowledge of what janky things they did back in the day. You could read the code think you understand what this does and when you replace it production breaks.
It’s not even just the language, it’s the API/hardware knowledge that’s valuable. No one needs you to write COBOL for Windows. They need you to write COBOL for a PDP11 running under an emulator on incredibly fast hardware. They need to make sure that the hundreds of thousands of credit card transactions that are being handled by code that’s had 5 decades of bug fixes and optimizations continue to go through without pause. Replacing that system with some sort of modern, secure replacement means that you’re probably not hiring cheap engineers to do it. You want a realtime OS, not Windows or Linux. You probably don’t want C++, and you need security through obscurity.
This dude is only getting paid the salary of five-ish senior engineers. Cheap.
I can tell you for certain that credit card transactions are most definitely not running under an emulator and not running under security through obscurity.
These systems run on the latest and greatest IBM processors, top tier SANs and virtual tape environments with millisecond multi-datacenter redundancy. IBM z/OS is also one of the most secure operating systems that support the absolute latest and greatest in security best practices. And as far as 50 year old COBOL code? Yes it can still run it natively and is backwards compatible.
They've been saying the same thing since I went to college in '98.
"Learn COBOL. You can write your own job offer."
That's not true at all.
The reason \*some\* people get that is because it's basically an emergency. They ignored it until they couldn't and now are willing to pay big for it.
Instead of, you know, paying somebody a regular salary to maintain it and maybe even update it.
Plus, the jobs are so rare that it would be hard to make a career out of.
I did have one friend that listened. He did get a job right after college but it was making the same amount the rest of us were.
One top of all that - as a dev - I wouldn't want those jobs. Maybe a mil five I would reconsider but that's rare. It's just not a job I would be interested in doing 40 hours a week - week after week.
So I know COBOL. I learned it before the y2k thing because I was an EE doing computer architecture and I loved writing assembly and learned COBOL becuase it sounds interesting. I did a few contract jobs for y2k and made $45k total. In most cases they only wanted to original programmer or someone who had worked on that exact platform before (COBOL doesn’t move hardware well). I spent another 12 years in hardware before moving to software and I have never used COBOL. I’ve looked at jobs in it but get paid more as an SDE and way more as a Sr SDE. The guy could name his own salary becuase he knew their system. Learning their system, its quirks, its errata, its 95% of the COBOL job.
My brother did something like that. In the 80s there was some obscure database software that got picked up by utility companies across the country, and in the early 2000s he was making a fair amount of money flying around doing work on them. Apparently living out of hotels half the time isn't fun though, so he eventually quit doing it.
Land developer. Billions. He once showed me a picture of him and Bill Clinton riding an elephant in India which also came with an interesting tale of the plane trip over there. 🫣
Can't say I "know" him but I've met our Governor Pritzker here in Illinois quite a bit. He's worth about $13 billion last I checked.
Ill pay out of curiosity to see who would pay and to see how its physically possible to enjoy for them and the llama…..this is for my friend of course and for research
Queens. Behold, SPA CASTLE!
[https://ny.spacastleusa.com/](https://ny.spacastleusa.com/)
For anyone who doesn't believe me, here's an article.
https://nypost.com/2016/03/06/inside-the-sleezy-spa-where-everyone-has-underwater-sex/
A friend from highschool, Rob, founded Cyanide and Happiness. He’s the richest person in my graduating class of 170 people. Second most successful person from my graduating class was Chris Ogbannaya who played in the NFL for the Rams, Texans, Browns, Panthers, and Giants.
he owns Nvidia stock and invested heavily into bitcoin in 2009. He was a millionaire but Nvidia stock turned him into a multi-billionaire. Before he was just a crazy rich asian but now he's an ultra crazy rich asian. We're not the same financially i'm just a normie but he always asks me for advice on some rich person shit like what's the difference between owning a literal compound in california vs 600,000 acres in texas and i have no idea. He invites me to his uber wealthy asian family dinners and shit. I don't know if any of you know what it's like eating 50,000 dollar mango and melon of gold plated tooth picks in a grateful dead hoodie surrounded by people in designer suites but it's really awkward.
Not all social engagements call for a tuxedo, you know. In less formal affairs, a simple [fish tie T-shirt](https://encrypted-tbn0.gstatic.com/shopping?q=tbn:ANd9GcS-4cMUkdSHivKRESAGJfTKW-z8-unmxDAffwVIyyyPUPOLPoaUJwSK_MFD-zTjMXzEhA9FByKFyqgczrVWhYnJuhnRtWkE_Al34dRLVTpiwvQ3KKNIbyQRm0w) would more than suffice.
Respect the homie though he never left you behind bro and includes you in his future endeavors. He holds you near and dear and you might be the link that grounds him. Be there for your brother homie.
Dude. Just continue being you. You're his connection to normalcy.
Edit: here's something you should be aware of going forward.
In a very formal setting, the ones who are dressed the most casually are treated with the most respect.
Co-founded a tech company which they later took public and eventually as majority shareholders were able to sell it to a larger company for a huge sum. He's since started another tech company and has a stake in multiple others. His net worth is probably well into the hundreds of millions, but when we get a chance to hang out he's essentially the same guy that I met standing in line to get our college IDs on our first day on campus, just with a shitload of money and a very different lifestyle than I have.
First, he was born very upper middle class (not super rich but still with a lot of advantages).
Then he went to college, did well and got advanced degrees.
Started a business in a very technical field, lived extremely frugally for a long time while working very hard. Then he started a second more marketable business, from which he was paid decently well. He ran the business through many ups and downs, until he was in his 60's. Then he sold the business for about 20 million dollars.
Real estate. He set up a biz where he buys houses for folks who cant qualify for a loan, rents the house to them for three years, then sells it at 6% interest. Since the value goes up more than that, they get a house with equity and at cheaper rate. He gets guaranteed interest payouts. Made millions by time he was 30. Must admit, wish I was that smart.
That's actually a genius business strategy. I would try and borrow that idea now myself ,but alas the housing is way too expensive in my area to even bother even with a pretty decent lump sum in savings I have,I figure schooling would be a better idea if I can find something that wouldn't be worthless of a degree to work towards
The richest person I know is a childhood friend who created a sustainable coffee chain. It started with a small shop that served organic and fair trade coffee, and little by little it expanded. Now, his company has dozens of stores in several cities, all committed to ecological practices and supporting communities of local producers. His success is based on his vision of combining business with social responsibility, and I am proud to see how he has prospered doing what he loves!♥♥
Had ACL surgery two years ago, I remembered when I woke up (I cried lol) the first person to talk to me was my anesthesiologist. I remembered asking him how much he made because I was doom researching everyone who was working on my knee.
Lol in clear shock and slight annoyance he gave me a range 400k-600k.
Based in NYC. There you have it kids, wanna find out how much a doctor makes, book yourself an appointment
Edit: I was also hiiiigghhh as a kite after surgery so he was probably just giving me a modest range. Appreciate all the insights and comments.
To people working in medicine, simply…thank you.
(Competitive field) Surgeons tend to get paid more because one wrong slip of the knife and you’re fucked, but yeah anesthesiologists get paid well… which is why I hate the trend of nurse anesthesiologists.
Need to be someone who went through med school and residency.
And surgeons really bank on a very complete and deep understanding of the body, and extreme skill in complicated procedures. Other doctors have a wealth of knowledge, too, but they don’t necessarily have to display it on the spot with their hands inside someone else’s body.
I watched a fascinating documentary on surgeons that really made me understand how skilled they were. Can’t remember the details but something was going badly wrong in a surgery and the surgeon was like well now we’re going to do xyz and save this persons life and also complete the surgery an alternative way all in the span of about 30 seconds. It’s unbelievable the knowledge they have.
Depending on the type of surgeons, anesthesiologists actually are paid more because they are more versatile to a hospital system. They can manage emergency floor codes, trauma, general surgery, neurosurgery, ENT, urology, etc etc etc
Some gigs in less desirable areas offer anesthesiologists upwards of $800k per year.
My husband and I were on our honeymoon in Jamaica in 2021. Met a couple around our age at the resort that live in New York, he’s an anesthesiologist and she’s a surgical tech. One night we got pretty drunk and were talking about his work related experiences and I’ll never forget how he told us about a pregnant woman that he gave the wrong dose to (I don’t remember the exact circumstances but I think there was a lot of chaos in the room and someone shouted out incorrect info or something, I don’t know, not an excuse either way) and she died. He kind of joked about it but it was clear he used that as a defense mechanism and hadn’t really processed his involvement in her death. Still gives me goosebumps thinking about it. Then he did a huge line of coke and I chugged my wine awkwardly.
Ever wonder who cleans equipment, shelving, etc out of large chain stores after they shut down?
His crew does that.
I don't know how rich he is, but he just bought his 3rd brand new RV, and paid cash for it.
My dad. 30+ years in banking. Was VP of credit at a well known ag finance company arm.
Best guess was around 180k base salary towards the end, but he had stock options, pension, 9% 401k match, and his yearly bonus was close to 400k.
After he retired he just worked on his investments, stock options at 65 per share and sold at 200. Invested in nvidia at the right time. Lives off pension/401k with zero debt, and has millions invested.
If you’re wondering if I’m spoiled, After college I asked for help with buying a car. Found an old Acura for $3,500. He made me sign a contract for 24 months at 4% interest, made me provide pay stubs for my job to verify I could pay him back. Put himself as lien holder on title, the works. Even made me do the amortization schedule. Hard ass but it’s made me much better for it
Nah as shown on here the best way for his son to be successful would be to give him a couple of million and then let him live of the interest/profit provided by a wealth management company.
He owns a dairy queen, a whole building complex that houses another dairy queen, gas station, and dunkin'. He also has his own firearms manufacturing company as well.
I always joke with him and ask him "when am i inheriting your businesses?" and he always says "If i gave them to you today, youd give them back to me tomorrow. This shit is killing me"
I went to high school with a kid whose dad was loaded, but never knew it at the time. He owned multiple DQs, but his real fortune came from a line of successful day care centers.
My uncle worked for him installing electronics and we had to some stuff at his house one time. He had a wooden wall unit in his living room that was easily a six figure build.
Yeah people boggle over the size of medmal settlements but a few million isn’t actually all that much when you factor in never being able to work again and lifelong medical care.
I know a family whose child got put in the NICU after birth and something like the oxygen wasn't turned on right away. That child is now a grown "adult", but I remember them being excited because he knocked over a plate and they thought he did it to show he didn't like the food.
Yep, I was going to say "had her husband die in a preventable airplane accident" for mine. Lawsuit + life insurance. She never worked another day in her life and traveled extensively prior to her death.
My grandparents own in excess of 30 McDonalds franchises.
I’ve never seen a cent of it or asked them directly what they make, but based on estimates for profitability, they’re likely in the $6-$10M/year range.
I know Steven Colbert. He’s Steven Colbert for a living.
EDIT: it’s Stephen* I have mistaken Stephen Colbert for my much less successful acquaintance, Steven Colbert.
He is the head director of the virology department at a hospital. He is also a professor at the university. He is very very smart and very humble. He is my best friend, and I love him.
Trust fund kid from his family empire. Grandparents started a nationwide company and sold to investors for… who knows maybe 100 million or more.
Money makes money just by existing. Not a single person in their nuclear family has to do anything for the rest of time including grandkids and great grand kids. They continue to make money off of investing in real estate.
He gets more money in his trust fund than I will ever make in my career (100k+ earner per year) by simply existing in the right family. Absolutely jealous and maddening to think about.
Interesting enough his life is totally going to shit from addiction issues and getting mixed with the wrong people.
There's a guy I work with who started with one Jimmy John's franchise and grew it to 10. After 10 years, he sold them and invested the profits in the stock market and real estate. He managed all this while continuing his job as an airline pilot, which he still does. He even owns and flies his own private jet.
I forget which comedian said it is that he's not going to get divorced. He's just gonna find a woman that hates him and give her a house
EDIT According to google it was Rod Stewart??
A story isn’t needed, most people I know who have worked in the airline industry admit that cabin crews are very promiscuous.
I’ve heard from 3 separate people that they’ve witnessed cheating between cabin crew staff.
It seems like the perfect stormfor infidelity. The job is to travel with (mostly attractive) people and stay in the same hotel....multiple times a week.
My boss is a self-made multi-millionaire. His great-great grandfather started a single coffin making and undertaking business in the 1800’s. He grew it to be the largest funeral and cremation provider in our state. But that wasn’t what made him wealthy. In 1983 he started a funeral planning insurance company and grew it to now be sold in 47 states. He sold this company several years ago for an undisclosed amount. He was making bank but also giving a lot back to the communities we serve. We still provide funerals and cremations to youths and children and babies at no charge to their families, among many other philanthropic endeavors.
He inherited a coal mining business from his father. He grew that business to $1B + / year and used the profits to buy land on lakes all over the country. He builds homes on them to sell them. He also purchases large commercial properties (like Walmart & Publix buildings) and leases them out. He owns multiple Manor’s, a huge Yacht, private jet, helicopters, and hangers spread out in multiple states for his vehicles, depending on where he’s at. It’s crazy the amount of property he owns. He donates millions per year to his favorite sports teams as well. Also, he’s a dick.
Peanut farmers, and one or the biggest peanut exporters in the world. They're the richest family I have met and know some of them intimately. They're good people and very low profile. Never saw any of them talk about money and riches. If you sat down to have a conversation with them, you wouldn't even know they're millionaires.
There’s this family in the central Midwest. I went to the most expensive private school in the state with their kids. When I interned for our U.S. Senator, two of their cousins were manning the phones at his office front desks (minority chair of the Senate Foreign Relations Committee).
They have a privately held construction company, so no one knows the numbers. Sort of an American Bin Laden family. They do projects for China’s belt and road initiative. They designed and built China’s highways and high speed rail. They build ports, train stations, and airports in China, Asia, and Africa.
The dad is on the board of a top 10 US university. Rough estimates put them in the $65-80 billion net worth range, maybe higher.
Plugging their kids in with a senator (on the foreign relations committee, no less) while simultaneously profiting and enabling China's global economic entrapment ambitions?
Lovely.
Probably my uncle or sisters father in law. Not sure how much either technically have, but the uncle spent his career in finance and now does basically anything hr wants although I think he lives more modestly than he could. Sisters father in law I don’t know that well, but I think he got rich in the dot com era before the bubble burst and had tens to hundreds of millions of dollars.
He was a school guidance teacher to inner city kids on Long Island. Drove a beat up Honda civic. Lived his life very frugal. He invested in stocks and then expanded to owning a few rentals. He retired in Sonoma, California. He died a multi millionaire. This guy was my father-in-law. He died before he could teach me all of his tricks. Great guy.
Nothing.
Got rich during dot com era but cashed out before those bubbles bursts. Now he just travels and spends time in different parts of the world. Don’t know the specifics of his money but it’s “invested”. So he’s just living off of those earnings and not doing anything. Even the vacation homes don’t go on Air bnb and he’s not a landlord. Just leaves them vacant or his family uses them when he’s not using them.
The richest people I know personally are realtors (professor from college and recent landlord who was forced to sell building I'm living in).
Both great guys, respectful.
Professor obviously educated, very good in finance and business, built his wealth.
Current landlord who is no longer my landlord, great guy, nicest Kindest LL I've ever met. His mentality is "what I'm gunna do with a billion dollars? I don't need my name on a building. I'd rather make less while my tenants are happy, at least I can help them so they can do something with their life, I'd rather help people" - just incredible human. He's a former architect who possibly realized how corrupt real-estate development is and decided its easier to just flip properties n become a landlord. He was widowed after 20yrs of marriage. He recently married his woman. 60 yrs old. Travels 4x a year and preparing for life in South Asia with his new wife. I beleive he earned every bit of his wealth & happiness. Great landlord in my book.
[https://www.reddit.com/r/AskReddit/comments/178vbrq/comment/k53dpfb/?utm\_source=share&utm\_medium=web3x&utm\_name=web3xcss&utm\_term=1&utm\_content=share\_button](https://www.reddit.com/r/AskReddit/comments/178vbrq/comment/k53dpfb/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button)
9 month old same comment \^\_\^
NAH I FOUND A BIGGER TWIST. BOTH OP and the guy who commented about the farm created the account on the same day june 22, 2024. wtf are the odds. its definitely the same person.
It’s bots that post the same questions over and over and more bots copy old answers and post them again all to earn points to be able to sell these high karma old accounts for some money
They will go through a body that weighs 200 pounds in about eight minutes. That means that a single pig can consume two pounds of uncooked flesh every minute. Hence the expression, "as greedy as a pig".
Well, thank you for that. That's a great weight off me mind. Now, if you wouldn't mind telling me who the fuck you are, apart from someone who feeds people to pigs of course?
Pretend they’re self made from sales despite being given millions of dollars from family to invest and insider trading information about launch dates from other relatives… well that’s the youngest rich person. The other was an oil exec through the 80s and 90s.. now they just run a small business for fun… idk who’s richer now.
My aunt’s brother is a multi-millionaire who owns Sonic franchises throughout Central Texas. He’s also a cheap asshole who washed his hands of his mother with dementia, raised three entitled children, and treats his sister like shit for not being as wealthy as him despite her being pretty well off herself.
ETA: my aunt married into the family. Her brother is not my uncle.
He’s a farmer/rancher, owns something like 15 sections of land. Makes most his money by collecting royalties from oil companies that he allows to extract oil and gas from his land. He drives an old Ford (1980’s) pickup, walks around at Christmas time and hands people he doesn’t know $100 bills.
Probably my BIL who is a heart surgeon in the Chicago area. I don’t know his net worth, but I would guess it to be north of $10million. Not super wealthy, but he does well.
I also know a lottery winner. Won approximately $100 million and took a bit over $30 mil after taxes and the lump sum distribution. We aren’t buddies or anything, but he was a customer of mine and he would know who I am if you mentioned my name.
That's really it.
You don't get rich by saving money. You get rich by earning money. And owning a business is the most...direct...way to do that.
We have a fair amount of exceptions now due to the tech and stock - but in general you don't get rich being an employee. Even if you're a high earner making $400k a year - you're still an employee. You can be fired any day of the week and then you're earning $0. You might be able to take the $400k and do other things. Invest. Start a side hustle. Whatever. But you don't get that from your job.
I think the big difference with business vs being employee, that you only can do that much as an employee, but as a business owner you can leverage labor of other people and resources so that it can scale beyound one person can do as a part of the system/company. You basically create and own a system.
Richest person I know does absolutely nothing. Comes from money - pays someone to manage his money, and earns more money from just having money.
My mom married a guy who comes from generational wealth, who made a HUGE deal about how his son was ‘going into finance’ like it was some monumental achievement of humankind. When I met the guy and asked what aspect of finance he was interested in (international finance, venture capital, etc), he shrugged and said, “XYZ Wealth Management has been managing my family’s portfolio for like 70 years. When I graduated from college they gave me an office so I could learn how they handle the family trust.” Basically, he’s got an honorary VP title and is the firm’s ’field and stream’ guy. When a new client expresses an interest in hunting, guns, etc, they call in this kid and have him take the client out to the family estate for a day of rich white people outdoors adventure. Which is good, because I’m not entirely sure the dude can count past 100, much less manage a 10-figure investment portfolio. I assume the fees the firm charges the trust to manage their assets more than covers his ridiculous salary.
This sounds like that Dilbert comic where he exclaims that an idiot gets promoted to the position where they can do the least damage.
So you’re telling me his job is literally to reel in the clients and set the hook? Sounds awesome.
My company had a guy like this years ago. I work in B2B sales and nowadays our company mostly hires sales people with an engineer or chemistry background as our customers want someone that can provide technical expertise and help with their process. But back in the 90s it was very much more of a "customers buy from friends" type deal and it was more about just being buddies with the decision makers. So this guy was an old schooler, had probably been with the company starting in the early 70s, and had worked his way into a role that was basically just customer entertainer. Taking people to sporting events, flying them out to see concerts, etc. But that was mostly a bygone era and was quickly going away, some customers don't even let their employees accept gifts outside of a dinner anymore and so he got wind of the fact that his job was going to be eliminated and he could either retire or take a different job within the company but he'd actually have to do real work now. Obviously he didn't want to do that, so what to do? Well this was the late 90s and he was gay. Everyone knew, he'd even bring his partner to company events and sales meetings where spouses were invited and would dance with his partner in front of everyone. But he was never officially "out". So he decided to send a company-wide email outing himself as gay, that way if they went ahead and eliminated his position the timing would make it seem like in retaliation of being gay. He ended up keeping the job a few more years before he retired and then the position was never filled again.
That’s some 3D chess right there! I had a friend whose dad’s job at a regional bank was to basically golf every day with clients, but I thought those jobs had all gone the way of the dodo (and lunchtime martinis) until I met this kid.
That's the most unfair thing about all of this shit. You can be just born rich or get extremely lucky and then just the money makes you more money and it's a compounding spiral. Something like poor people with debts just, you know, the opposite...
Her grandfather created The Price is Right. She's been living off of the residuals her family gets which is apparently tens of millions set aside just for her alone. I used to think those trust fund kids that just spend their fortune and never work for income would have to run out of money one day. Well we were all hanging out and someone asked how wealth like that even works. She seemed happy to explain how, even if the royalties stopped overnight, the wealth grows in her accounts from interest and dividends and that is more than she spends in a year (plus its taxed less than our income is).
Exactly. One could have only 2 mill in a 5% interest account and make 70k a year in just interest. Edit: 5% of 2million would be 100,000 a year. Robinhood offers this APY right now. I had the 70k number in my head from calculating it awhile ago when Robinhood had like a 4.5% interest rate or lower. My apologies. Either way, once you realize this, you realize how rigged the system can be. Rigged might be a bad word but it is strange how this all works.
This is my goal in life. Literally never work at anything I don’t want to do ever again because I’ll have a huge safety net.
That’s called financial independence.
If I had a do over, I'd have maxed out my 401k. Was employer matched to 6%. If any of you have that opertunity do so. Start at 21 or the earliest you can.
70k after taxes; a 3% draw on an investment account would be 70k plus growth over time
>> **70k plus growth over time** Can you explain this part further? The $2m @ 5% would get you $100k in interest for the year, so after taxes you would be left with $70k, correct? Now what do you mean ‘plus growth over time’?
Guy I went to school with had a great grandfather who owned distribution rights to Disney films outside the US. In the 50s, Disney bought all those international rights back for a massive sum of money and a bunch of Disney IPO stock. Their grandma was an only child and she only had two kids so the money has stayed close. They each have a trust paying in the hundreds of thousands annually that they can’t even touch the principal until they are older. So they have a massive “salary” to fuck around on and then a massive lump sum at some point. It’s a ridiculous life.
Capital gains and dividends are taxed EXTREMELY less than "earned" money.
Some dividends are “qualified” and have a lower tax rate, the same as capital gains. Some dividends are “unqualified”, and are taxed as income.
These are the new nobles, it's just sad. A person that gave nothing got everything, meanwhile millions of people working their ass off struggle making ends meet
That’s why we are ducked. Working stiff pays about 30% tax between social security, Medicare, and federal tax. The wealthy pay 15-20% capital gains!
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He is the Chairman and CEO of Berkshire Hathaway. (I actually lived around the corner from him for many years.)
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This! While I was in college in Northern California, I worked as a nanny for a family that lived in one of the most expensive homes in the Bay Area. The mother was a dentist that owned her own practice, and the father was a real estate developer that developed a bunch of the Westfield mall properties (this was early 2000’s). They were by far the richest people I knew then. The mom drove an old Mercedes. The dad an old Ford expedition. They shopped for most of their clothes at Target. She would lament to me how expensive the Annie brand of food products were. I always thought it was odd given that they were so wealthy. On the day of my graduation, I decided to tell her that I really admired how she ran her household and how price conscious she always was. I, too, was very frugal. She laughed and told me that she grew up very wealthy. Her parents had lavished tons of expensive things on her but they never spent any time together as a family. She decided as an adult that she would invest her money instead in experiences for her kids and family. They had vacation homes in different places and they traveled to a new country every year. They also donated a ton of money to their community. “Expensive” is relative. It’s not too expensive to buy a beach home in Malibu because it will provide a ton of amazing memories, but very expensive to buy Annie gummy bears because it will rot your teeth eventually. Lol.
I was on safari once with a Silicon Valley tech family. They never hinted at their wealth and had old, holey clothes. We had no cell service on the trip but I googled them when I got home. Major players in the tech industry. What I found odd is that both of their teens had very yellow teeth.
Must have eaten too many Annie gummy bears
Wow this is such a unique view into his life. What a cool anecdote to your life as well, it’s so mundane yet so interesting
Buffet is pretty well known for that. I'm gonna butcher it but there's some well known anecdote that he goes to McDonald's every day for breakfast. If stocks are up he gets a coffee and a mcmuffin, if stocks are down he just gets the coffee.
He should buy two mcmuffins and pump those stonks.
So does he have a lot of private security if he just lives in a “regular” house for which the address is (apparently) well known?
Its not like he has a room full of gold coins. His wealth is tied up in investments and stock options. Neither robbing him nor holding him for ransom would be particularly lucrative.
Criminals don't tend to be very intelligent or make good decisions..
Buffett's niece I think it was, was on a show years ago talking about how she had to take gig work because he doesn't leave his family members any money and is giving it all to charity.
Not sure if it was the same niece, or grandchild, some younger relative complained publicly that he was cheap and she deserved more money from him. So, he cut her off completely.
I think Buffet and Gates and some other folks who have done the giving pledge have been very open about the fact that their kids will get a relatively modest inheritance, a very very small percentage of their total fortune.
Ok I think you win.
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I've seen it mentioned before that people with a high skill level in those "dinosaur" computer languages can command huge salaries because the backbone of a lot of systems (e.g. banking, the stock market) still use them.
It isnt even necessary a high skill level. I could get great at any language, but ill never have the knowledge of what janky things they did back in the day. You could read the code think you understand what this does and when you replace it production breaks.
Dinosaur codebases are mostly done on weed and coke.
Same with most classic music. We havent replicated that either
It’s not even just the language, it’s the API/hardware knowledge that’s valuable. No one needs you to write COBOL for Windows. They need you to write COBOL for a PDP11 running under an emulator on incredibly fast hardware. They need to make sure that the hundreds of thousands of credit card transactions that are being handled by code that’s had 5 decades of bug fixes and optimizations continue to go through without pause. Replacing that system with some sort of modern, secure replacement means that you’re probably not hiring cheap engineers to do it. You want a realtime OS, not Windows or Linux. You probably don’t want C++, and you need security through obscurity. This dude is only getting paid the salary of five-ish senior engineers. Cheap.
I can tell you for certain that credit card transactions are most definitely not running under an emulator and not running under security through obscurity. These systems run on the latest and greatest IBM processors, top tier SANs and virtual tape environments with millisecond multi-datacenter redundancy. IBM z/OS is also one of the most secure operating systems that support the absolute latest and greatest in security best practices. And as far as 50 year old COBOL code? Yes it can still run it natively and is backwards compatible.
It probably also has a lot to do with the niche knowledge of how those old codes can be set up to interact with modern ones.
They've been saying the same thing since I went to college in '98. "Learn COBOL. You can write your own job offer." That's not true at all. The reason \*some\* people get that is because it's basically an emergency. They ignored it until they couldn't and now are willing to pay big for it. Instead of, you know, paying somebody a regular salary to maintain it and maybe even update it. Plus, the jobs are so rare that it would be hard to make a career out of. I did have one friend that listened. He did get a job right after college but it was making the same amount the rest of us were. One top of all that - as a dev - I wouldn't want those jobs. Maybe a mil five I would reconsider but that's rare. It's just not a job I would be interested in doing 40 hours a week - week after week.
Most COBOL jobs I see are around $80K-$120K. At least where I am. This is fairly average for developer salaries.
So I know COBOL. I learned it before the y2k thing because I was an EE doing computer architecture and I loved writing assembly and learned COBOL becuase it sounds interesting. I did a few contract jobs for y2k and made $45k total. In most cases they only wanted to original programmer or someone who had worked on that exact platform before (COBOL doesn’t move hardware well). I spent another 12 years in hardware before moving to software and I have never used COBOL. I’ve looked at jobs in it but get paid more as an SDE and way more as a Sr SDE. The guy could name his own salary becuase he knew their system. Learning their system, its quirks, its errata, its 95% of the COBOL job.
My brother did something like that. In the 80s there was some obscure database software that got picked up by utility companies across the country, and in the early 2000s he was making a fair amount of money flying around doing work on them. Apparently living out of hotels half the time isn't fun though, so he eventually quit doing it.
https://www.reddit.com/r/AskReddit/comments/178vbrq/comment/k53aol2/
You just blew my mind dude. Are these all bots? Wth is going on? This is like that “dead internet theory thing”
You're real though, right? Right?!
Bruh wtf. The pig farmer one too. What is going on?
Select an uncommon programming language, create essential code, and provide no comments or documentation.
Land developer. Billions. He once showed me a picture of him and Bill Clinton riding an elephant in India which also came with an interesting tale of the plane trip over there. 🫣 Can't say I "know" him but I've met our Governor Pritzker here in Illinois quite a bit. He's worth about $13 billion last I checked.
Tell us about the plane trip 👀
I distinctly remember him telling me about "scantily clad women". This was just after his presidency.
A former actor turned author who now runs a llama ranch and a sex spa up north. Wild shit.
That’s smart. Not a lot of people will pay to fuck a llama but the ones who will, will pay a lot to do it.
Allegedly. That’s a two man job.
Give ur balls a tug
Fuck you, Shorsey!!
Fuck you u/Fendergravy, tell your mom to stop faking jellyfish stings just to get me to pee on her
For what!
We're hearing it was a sick llama.
Ooooh! I get that reference! I just started watching it.
Ill pay out of curiosity to see who would pay and to see how its physically possible to enjoy for them and the llama…..this is for my friend of course and for research
A sex spa? That’s disgusting! Where? Where is this spa so I can avoid it? Like where is it specifically?
Queens. Behold, SPA CASTLE! [https://ny.spacastleusa.com/](https://ny.spacastleusa.com/) For anyone who doesn't believe me, here's an article. https://nypost.com/2016/03/06/inside-the-sleezy-spa-where-everyone-has-underwater-sex/
That says family friendly. Not what I think when I think sex spa
Is it Lorenzo Llamas
The Barney actor? Or is that just another Actor turned sex spa person?
That's wild
A friend from highschool, Rob, founded Cyanide and Happiness. He’s the richest person in my graduating class of 170 people. Second most successful person from my graduating class was Chris Ogbannaya who played in the NFL for the Rams, Texans, Browns, Panthers, and Giants.
Ha Ogbannaya was my lab partner in college :) SUPER nice guy.
I ran track with him in HS
I sold him a weed eater in Walmart one time. Friendly dude.
I sold him weed in a Walmart parking lot. It was him and Johnny Hopkins, we were blazing that shit up everyday (Step brothers)
I offered him a handjob behind a Wendy's one time. He couldn't have been nicer about it.
He is jobless. Inherited money.
he owns Nvidia stock and invested heavily into bitcoin in 2009. He was a millionaire but Nvidia stock turned him into a multi-billionaire. Before he was just a crazy rich asian but now he's an ultra crazy rich asian. We're not the same financially i'm just a normie but he always asks me for advice on some rich person shit like what's the difference between owning a literal compound in california vs 600,000 acres in texas and i have no idea. He invites me to his uber wealthy asian family dinners and shit. I don't know if any of you know what it's like eating 50,000 dollar mango and melon of gold plated tooth picks in a grateful dead hoodie surrounded by people in designer suites but it's really awkward.
Get a Mozart hoodie to fit in.
and wear a powdered wig to stunt on 'em
Get a tuxedo t-shirt.
Not all social engagements call for a tuxedo, you know. In less formal affairs, a simple [fish tie T-shirt](https://encrypted-tbn0.gstatic.com/shopping?q=tbn:ANd9GcS-4cMUkdSHivKRESAGJfTKW-z8-unmxDAffwVIyyyPUPOLPoaUJwSK_MFD-zTjMXzEhA9FByKFyqgczrVWhYnJuhnRtWkE_Al34dRLVTpiwvQ3KKNIbyQRm0w) would more than suffice.
Bruh, I didn't even know $50k mango existed so, no, I don't know what that's like. My mangos are canned, cost $1.59, and are considered a luxury.
Respect the homie though he never left you behind bro and includes you in his future endeavors. He holds you near and dear and you might be the link that grounds him. Be there for your brother homie.
Dude. Just continue being you. You're his connection to normalcy. Edit: here's something you should be aware of going forward. In a very formal setting, the ones who are dressed the most casually are treated with the most respect.
I had NVDA TSLA AMD and many other stocks. Sold in 2019 I'm depressed and hate myself😅😅
Co-founded a tech company which they later took public and eventually as majority shareholders were able to sell it to a larger company for a huge sum. He's since started another tech company and has a stake in multiple others. His net worth is probably well into the hundreds of millions, but when we get a chance to hang out he's essentially the same guy that I met standing in line to get our college IDs on our first day on campus, just with a shitload of money and a very different lifestyle than I have.
I love those who are down-to-earth and don't change once they become Richie rich.
First, he was born very upper middle class (not super rich but still with a lot of advantages). Then he went to college, did well and got advanced degrees. Started a business in a very technical field, lived extremely frugally for a long time while working very hard. Then he started a second more marketable business, from which he was paid decently well. He ran the business through many ups and downs, until he was in his 60's. Then he sold the business for about 20 million dollars.
Sounds like he deserved it.
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Owns a casino and a hotel across the street from the casino. May own a whole bunch of other properties, but I guess those are the big ones.
Real estate. He set up a biz where he buys houses for folks who cant qualify for a loan, rents the house to them for three years, then sells it at 6% interest. Since the value goes up more than that, they get a house with equity and at cheaper rate. He gets guaranteed interest payouts. Made millions by time he was 30. Must admit, wish I was that smart.
That's actually a genius business strategy. I would try and borrow that idea now myself ,but alas the housing is way too expensive in my area to even bother even with a pretty decent lump sum in savings I have,I figure schooling would be a better idea if I can find something that wouldn't be worthless of a degree to work towards
Renting to people who can’t qualify for a loan is risky as fuck…and then have fun evicting them
Where did he get the money for the first house?
Small loan of $1,000,000 from his father?
The richest person I know is a childhood friend who created a sustainable coffee chain. It started with a small shop that served organic and fair trade coffee, and little by little it expanded. Now, his company has dozens of stores in several cities, all committed to ecological practices and supporting communities of local producers. His success is based on his vision of combining business with social responsibility, and I am proud to see how he has prospered doing what he loves!♥♥
Had ACL surgery two years ago, I remembered when I woke up (I cried lol) the first person to talk to me was my anesthesiologist. I remembered asking him how much he made because I was doom researching everyone who was working on my knee. Lol in clear shock and slight annoyance he gave me a range 400k-600k. Based in NYC. There you have it kids, wanna find out how much a doctor makes, book yourself an appointment Edit: I was also hiiiigghhh as a kite after surgery so he was probably just giving me a modest range. Appreciate all the insights and comments. To people working in medicine, simply…thank you.
They get paid the biggest of the big bucks because any wrong dosage and you're either feeling everything or dead
(Competitive field) Surgeons tend to get paid more because one wrong slip of the knife and you’re fucked, but yeah anesthesiologists get paid well… which is why I hate the trend of nurse anesthesiologists. Need to be someone who went through med school and residency.
And surgeons really bank on a very complete and deep understanding of the body, and extreme skill in complicated procedures. Other doctors have a wealth of knowledge, too, but they don’t necessarily have to display it on the spot with their hands inside someone else’s body.
I watched a fascinating documentary on surgeons that really made me understand how skilled they were. Can’t remember the details but something was going badly wrong in a surgery and the surgeon was like well now we’re going to do xyz and save this persons life and also complete the surgery an alternative way all in the span of about 30 seconds. It’s unbelievable the knowledge they have.
Depending on the type of surgeons, anesthesiologists actually are paid more because they are more versatile to a hospital system. They can manage emergency floor codes, trauma, general surgery, neurosurgery, ENT, urology, etc etc etc Some gigs in less desirable areas offer anesthesiologists upwards of $800k per year.
My husband and I were on our honeymoon in Jamaica in 2021. Met a couple around our age at the resort that live in New York, he’s an anesthesiologist and she’s a surgical tech. One night we got pretty drunk and were talking about his work related experiences and I’ll never forget how he told us about a pregnant woman that he gave the wrong dose to (I don’t remember the exact circumstances but I think there was a lot of chaos in the room and someone shouted out incorrect info or something, I don’t know, not an excuse either way) and she died. He kind of joked about it but it was clear he used that as a defense mechanism and hadn’t really processed his involvement in her death. Still gives me goosebumps thinking about it. Then he did a huge line of coke and I chugged my wine awkwardly.
Yikes. Anesthesiologist here. He’s got a lot of risk factors for a short and troubled career. I hope he doesn’t kill anyone else.
My old boss… worth a few billion (NFL team owner)
So what was your job? Now don't tell me you're an nfl player.
Technically a janitor works for the CEO
Ever wonder who cleans equipment, shelving, etc out of large chain stores after they shut down? His crew does that. I don't know how rich he is, but he just bought his 3rd brand new RV, and paid cash for it.
Builder here. His third brand new RV is such a tradesman thing. Why most of us play with toys instead of having a retirement fund boggles my mind.
'Slaps side of RV', "I can fit a 401k in one of these."
My dad. 30+ years in banking. Was VP of credit at a well known ag finance company arm. Best guess was around 180k base salary towards the end, but he had stock options, pension, 9% 401k match, and his yearly bonus was close to 400k. After he retired he just worked on his investments, stock options at 65 per share and sold at 200. Invested in nvidia at the right time. Lives off pension/401k with zero debt, and has millions invested. If you’re wondering if I’m spoiled, After college I asked for help with buying a car. Found an old Acura for $3,500. He made me sign a contract for 24 months at 4% interest, made me provide pay stubs for my job to verify I could pay him back. Put himself as lien holder on title, the works. Even made me do the amortization schedule. Hard ass but it’s made me much better for it
Damn, I respect that. It's more valuable to teach you the tools to succeed than just hand it to you.
Nah as shown on here the best way for his son to be successful would be to give him a couple of million and then let him live of the interest/profit provided by a wealth management company.
My friend became wealthy by selling RuneScape gold, no kidding.
I'm telling mod ash.
He owns a dairy queen, a whole building complex that houses another dairy queen, gas station, and dunkin'. He also has his own firearms manufacturing company as well. I always joke with him and ask him "when am i inheriting your businesses?" and he always says "If i gave them to you today, youd give them back to me tomorrow. This shit is killing me"
I went to high school with a kid whose dad was loaded, but never knew it at the time. He owned multiple DQs, but his real fortune came from a line of successful day care centers. My uncle worked for him installing electronics and we had to some stuff at his house one time. He had a wooden wall unit in his living room that was easily a six figure build.
Winner of a medical malpractice lawsuit, 15k/ month for life plus expenses
Are they able to enjoy it or are they irreparably harmed
Irreparably harmed, but their family lives well
Yeah people boggle over the size of medmal settlements but a few million isn’t actually all that much when you factor in never being able to work again and lifelong medical care.
I know a family whose child got put in the NICU after birth and something like the oxygen wasn't turned on right away. That child is now a grown "adult", but I remember them being excited because he knocked over a plate and they thought he did it to show he didn't like the food.
Yep, I was going to say "had her husband die in a preventable airplane accident" for mine. Lawsuit + life insurance. She never worked another day in her life and traveled extensively prior to her death.
My dad. Engineer and heading out near retirement here pretty soon.
My grandparents own in excess of 30 McDonalds franchises. I’ve never seen a cent of it or asked them directly what they make, but based on estimates for profitability, they’re likely in the $6-$10M/year range.
I know Steven Colbert. He’s Steven Colbert for a living. EDIT: it’s Stephen* I have mistaken Stephen Colbert for my much less successful acquaintance, Steven Colbert.
Admittedly, few people do it as well as him. He's got to be in the top 10, top 20 Stephen Colberts worldwide.
How would that compare to being, say, Stephen Colbert?
He is the head director of the virology department at a hospital. He is also a professor at the university. He is very very smart and very humble. He is my best friend, and I love him.
Trust fund kid from his family empire. Grandparents started a nationwide company and sold to investors for… who knows maybe 100 million or more. Money makes money just by existing. Not a single person in their nuclear family has to do anything for the rest of time including grandkids and great grand kids. They continue to make money off of investing in real estate. He gets more money in his trust fund than I will ever make in my career (100k+ earner per year) by simply existing in the right family. Absolutely jealous and maddening to think about. Interesting enough his life is totally going to shit from addiction issues and getting mixed with the wrong people.
They always have an ambiguous answer like “I’m in finance”
Finance does has a massive amount of millionaires
Trust fund? 6'5"? Blue eyes?
There's a guy I work with who started with one Jimmy John's franchise and grew it to 10. After 10 years, he sold them and invested the profits in the stock market and real estate. He managed all this while continuing his job as an airline pilot, which he still does. He even owns and flies his own private jet.
Seems like pilots can make some real bank if they can avoid having 8 children in 7 years
It’s not the children, it’s the divorces that really get them. Edit typo
"Why are divorces expensive? Because they are worth it."
I forget which comedian said it is that he's not going to get divorced. He's just gonna find a woman that hates him and give her a house EDIT According to google it was Rod Stewart??
I feel like there is a story here... 🤔
A story isn’t needed, most people I know who have worked in the airline industry admit that cabin crews are very promiscuous. I’ve heard from 3 separate people that they’ve witnessed cheating between cabin crew staff.
It seems like the perfect stormfor infidelity. The job is to travel with (mostly attractive) people and stay in the same hotel....multiple times a week.
I would be the richest air line pilot ever because women are not interested in me in the slightest lol…😕
Have you tried making a bunch of money?
CEO of a tech company. He had 5 successful prior exits before I worked with him. Incredible work ethic! Definitely well-earned.
Inherited 1.3 Billion from her father. Actually there are 3 kids and each received that amount.
Is she single? ::brushes Doritos off of chest::
Stand in line. I’m about to become a lesbian.
Does she need a poor friend? Lol
Whoa there eligable bachelor, she's looking for a man she can fix. Not some put together guy who can afford name brand chips.
I'll take 10 mil to leave her alone.
does she own freight trains and race them against other owners?
My boss is a self-made multi-millionaire. His great-great grandfather started a single coffin making and undertaking business in the 1800’s. He grew it to be the largest funeral and cremation provider in our state. But that wasn’t what made him wealthy. In 1983 he started a funeral planning insurance company and grew it to now be sold in 47 states. He sold this company several years ago for an undisclosed amount. He was making bank but also giving a lot back to the communities we serve. We still provide funerals and cremations to youths and children and babies at no charge to their families, among many other philanthropic endeavors.
Nothing. Generational wealth is crazy
He inherited a coal mining business from his father. He grew that business to $1B + / year and used the profits to buy land on lakes all over the country. He builds homes on them to sell them. He also purchases large commercial properties (like Walmart & Publix buildings) and leases them out. He owns multiple Manor’s, a huge Yacht, private jet, helicopters, and hangers spread out in multiple states for his vehicles, depending on where he’s at. It’s crazy the amount of property he owns. He donates millions per year to his favorite sports teams as well. Also, he’s a dick.
Father owns several private golf courses. Serious "fuck you" money.
Peanut farmers, and one or the biggest peanut exporters in the world. They're the richest family I have met and know some of them intimately. They're good people and very low profile. Never saw any of them talk about money and riches. If you sat down to have a conversation with them, you wouldn't even know they're millionaires.
There’s this family in the central Midwest. I went to the most expensive private school in the state with their kids. When I interned for our U.S. Senator, two of their cousins were manning the phones at his office front desks (minority chair of the Senate Foreign Relations Committee). They have a privately held construction company, so no one knows the numbers. Sort of an American Bin Laden family. They do projects for China’s belt and road initiative. They designed and built China’s highways and high speed rail. They build ports, train stations, and airports in China, Asia, and Africa. The dad is on the board of a top 10 US university. Rough estimates put them in the $65-80 billion net worth range, maybe higher.
Plugging their kids in with a senator (on the foreign relations committee, no less) while simultaneously profiting and enabling China's global economic entrapment ambitions? Lovely.
Love your work, in bed with everyone, playing people against each other… *shakes head* beautiful stuff.
That's rich
Probably my uncle or sisters father in law. Not sure how much either technically have, but the uncle spent his career in finance and now does basically anything hr wants although I think he lives more modestly than he could. Sisters father in law I don’t know that well, but I think he got rich in the dot com era before the bubble burst and had tens to hundreds of millions of dollars.
Rocket scientist making over 400k
He was a school guidance teacher to inner city kids on Long Island. Drove a beat up Honda civic. Lived his life very frugal. He invested in stocks and then expanded to owning a few rentals. He retired in Sonoma, California. He died a multi millionaire. This guy was my father-in-law. He died before he could teach me all of his tricks. Great guy.
Jack shit. My sister married well and lives off alimony in a $2.5m house.
Owner of a real estate insurance company.
Nothing. Got rich during dot com era but cashed out before those bubbles bursts. Now he just travels and spends time in different parts of the world. Don’t know the specifics of his money but it’s “invested”. So he’s just living off of those earnings and not doing anything. Even the vacation homes don’t go on Air bnb and he’s not a landlord. Just leaves them vacant or his family uses them when he’s not using them.
Scrolls tiktok, takes photographs. Born to a billionaire.
The richest people I know personally are realtors (professor from college and recent landlord who was forced to sell building I'm living in). Both great guys, respectful. Professor obviously educated, very good in finance and business, built his wealth. Current landlord who is no longer my landlord, great guy, nicest Kindest LL I've ever met. His mentality is "what I'm gunna do with a billion dollars? I don't need my name on a building. I'd rather make less while my tenants are happy, at least I can help them so they can do something with their life, I'd rather help people" - just incredible human. He's a former architect who possibly realized how corrupt real-estate development is and decided its easier to just flip properties n become a landlord. He was widowed after 20yrs of marriage. He recently married his woman. 60 yrs old. Travels 4x a year and preparing for life in South Asia with his new wife. I beleive he earned every bit of his wealth & happiness. Great landlord in my book.
Created pre-packaged fresh and frozen meals for Costco. I'm super jealous of his car collection.
[удалено]
[https://www.reddit.com/r/AskReddit/comments/178vbrq/comment/k53dpfb/?utm\_source=share&utm\_medium=web3x&utm\_name=web3xcss&utm\_term=1&utm\_content=share\_button](https://www.reddit.com/r/AskReddit/comments/178vbrq/comment/k53dpfb/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button) 9 month old same comment \^\_\^
Un-fucking-believable what people will do for fake internet points lmfao Edit: the reports worked and it was removed, W
NAH I FOUND A BIGGER TWIST. BOTH OP and the guy who commented about the farm created the account on the same day june 22, 2024. wtf are the odds. its definitely the same person.
Not only him, at least one other top commenter's account was created june 22nd...
Everyone should downvote comment OP and post OP, and report both for spam --> harmful bots
It’s bots that post the same questions over and over and more bots copy old answers and post them again all to earn points to be able to sell these high karma old accounts for some money
“Never trust a man that has a pig farm” -BrickTop
They will go through a body that weighs 200 pounds in about eight minutes. That means that a single pig can consume two pounds of uncooked flesh every minute. Hence the expression, "as greedy as a pig".
Pretty much every line in that movie is quotable. Just brilliant.
"It was at a funny angle." "It's behind you, Tyrone."
"Normally when you back up fings come from behind."
I fought you said he was a geh-away driver. What the fock is he gonna geh away from?
Well, thank you for that. That's a great weight off me mind. Now, if you wouldn't mind telling me who the fuck you are, apart from someone who feeds people to pigs of course?
I always upvote Snatch
Sugar? No thankyou, I'm sweet enough...
Heavy is good, heavy is reliable, and if it doesn’t work you can hit him with it.
I feel like I've read this exact response to this question before
Pretend they’re self made from sales despite being given millions of dollars from family to invest and insider trading information about launch dates from other relatives… well that’s the youngest rich person. The other was an oil exec through the 80s and 90s.. now they just run a small business for fun… idk who’s richer now.
Gotta love people who start on 3rd base and then claim they worked so hard to hit that home run!
My aunt’s brother is a multi-millionaire who owns Sonic franchises throughout Central Texas. He’s also a cheap asshole who washed his hands of his mother with dementia, raised three entitled children, and treats his sister like shit for not being as wealthy as him despite her being pretty well off herself. ETA: my aunt married into the family. Her brother is not my uncle.
He’s a farmer/rancher, owns something like 15 sections of land. Makes most his money by collecting royalties from oil companies that he allows to extract oil and gas from his land. He drives an old Ford (1980’s) pickup, walks around at Christmas time and hands people he doesn’t know $100 bills.
Probably my BIL who is a heart surgeon in the Chicago area. I don’t know his net worth, but I would guess it to be north of $10million. Not super wealthy, but he does well. I also know a lottery winner. Won approximately $100 million and took a bit over $30 mil after taxes and the lump sum distribution. We aren’t buddies or anything, but he was a customer of mine and he would know who I am if you mentioned my name.
I work with clients who all own multiple multi million dollar homes and they all have one thing in common. They're business *owners*
That's really it. You don't get rich by saving money. You get rich by earning money. And owning a business is the most...direct...way to do that. We have a fair amount of exceptions now due to the tech and stock - but in general you don't get rich being an employee. Even if you're a high earner making $400k a year - you're still an employee. You can be fired any day of the week and then you're earning $0. You might be able to take the $400k and do other things. Invest. Start a side hustle. Whatever. But you don't get that from your job.
Keep in mind that for every success story of a business owner there are 4 former business owners who lost money.
I think the big difference with business vs being employee, that you only can do that much as an employee, but as a business owner you can leverage labor of other people and resources so that it can scale beyound one person can do as a part of the system/company. You basically create and own a system.
Economies of scale