The Hidden Billionaires

Billionaires are not just slightly richer millionaires, just as millionaires are not just slightly richer average people.

David H. Koch applauds for Republican presidential candidate and former Massachusetts Governor Mitt Romney during the Defending the American Dream Summit at the Washington Convention Center November 4, 2011 in Washington, D.C. Chip Somodevilla / Getty

 

 

 

Do you have a hundred thousand dollars? Even if you don’t, let’s pretend you do. The least wealthy member of the top 1 percent is one hundred times wealthier than you.

Let’s call that least wealthy member of the 1 percent Bob. Bob has ten million dollars. Bob is very different from you, but he’s also very different from a billionaire. The least wealthy billionaire is one hundred times wealthier than Bob.

Let’s call this least wealthy billionaire Bill. Jeff Bezos, the richest man in the world, is over one hundred times richer than Bill, who is one hundred times richer than Bob, who is one hundred times richer than you — in this fictional scenario where you, unlike roughly half of Americans, have a hundred thousand dollars.

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