posted on May, 19 2019 @ 10:51 AM
a reply to: OccamsRazor04
That's a fun thought, let's look into that a little more.
Being that there are only 540 billionaires in the entire US (population of 330 million people). There are 11 million millionaires so, that means a
smidgen under 0.005% of the millionaires are billionaires.
The question wasn't how many current millionaires are billionaires, it was how many millionaires go on to become billionaires... Since 1997 there have
been at least (I mean the very least) 19.3 million new millionaires minted. There were only 59 billionaires in 1997. So that means, 0.00249% of
millionaires went on to become billionaires.
So while, if you become a millionaire, you have a 43% chance of no longer being a millionaire at some point in the next few decades. You only have a
0.00249% chance of becoming a billionaire. Put another way, should you become a millionaire you have 1.33 to 1 odds of losing your millionaire status
but you only have 400 to 1 odds of becoming a billionaire. Converting those to gambling odds, makes becoming a billionaire a +4,000 endeavor.
For comparison, Cal, Tennessee, and Mizzou have a better chance of winning a national championship this year, than a millionaire had of becoming a
billionaire over the last two decades.
ETA: This was all just ballpark, top of the head calculations. If my maths are off, feel free to chime in
edit on 19-5-2019 by Dfairlite
because: (no reason given)
edit on 19-5-2019 by Dfairlite because: (no reason given)