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Feb 05 2020

The Bloomberg Boom

Now that Biden has stumbled in Iowa some Centrists are looking to Michael Bloomberg to thwart the rise of the Democratic Left. He’s certainly an interesting candidate.

  • #8 in the Forbes 400 2019
  • #9 in Billionaires 2019 (not quite sure why those are different but I also don’t care)

Forbes estimates his current net worth at $61 Billion. Using a hyper-conservative return on investment of 1.5% (1 Year T-Bills were yielding 1.485% as of writing) that’s merely $915 Hundred Million a year.

That’s kind of a big number. Let me break it down, Hammertime-

That’s-

  • $2,506,849 every day
  • $104,452 every hour
  • $1,740 every minute or
  • $29 per second

Depending on how you want to figure it. I like that per second number because it’s easy for a wage earner to grasp but you have to remember it includes all the time he’s asleep or otherwise doing things that might be deemed non-productive and that’s per second.

I charge $35 an hour and it’s really quite reasonable.

So that’s Bloomberg money. $100 Million a Month until the Election? No problem, won’t even notice it.