"The Net Worth Thread"

I know two people that are worth over 1 billion. Both are much older than I am and are friends of the family.

One lives up the street and you would never ever know it. She drives a 2000 4-runner but did just buy a Cadi zrx ( ? the smaller cadi suv ? ). I was with her and she just wrote a check.

The other drove a Honda accord untill he got married and his wife made him buy a Merc. But untill she came around, you would never have known he had much money at all.


I know one guy that is a few years younger than I am and he went from about $700 Mill to almost nothing in the crash of 2000-2001!!! Interestingly enough he is such a nicer guy now too!

 

DAMN!!!! That makes two polls I wont win!!

 

My Father owns everything.

 

Very good
Kram

 

LOL. My family gets royalties from the color blue!

 

What the heck? I typed this?

 

Owner of the hotel chain I worked for is a billionaire.

LexusGS300.

Nobody wanted to upstage the boss. So:

The Pres drove an Expedition.
VP ops drove a 10yr old Acura Vigor.

 

Where are the red numbers with the minus sign??

 

Didn't I just read a post on another thread about you hopping around the outback in a private jet. Now that was Jimmyesque.

I live about 5 minutes away form Warren Buffett, who I think is the worlds richest right now, and he doesn't even have the nicest house on the block and isn't even in a top 10 neighborhood. Eats at Gorats, which is in a lower middle class hood, and drives a 5 year old Buick. He does look kind of cool with his special ops looking body guards though.

 

At my prior airport, there were several people either worth a billion or close to it. At the airport, you'd swear that they'd just crawled out of the dumpster. One guy's plane was used to take them back and forth fishing, and it looked it. He has earned Nobel prize, by the way. The other guy, whose name appears on something that we see at least monthly, owns a very successful company, that just went public, had several planes, and very few clothes and looked it.

When you get to that level, I guess that they just don't care. The low end guys at the airport, like me, usually dressed quite a bit better, and had a cleaner act. We had to, I guess. Like me, they washed their own planes, cleaned their own hanger. I had to, they didn't.

Art

 

Net worth, with or without the house included? With the house and including my parents, $600k. Without the house and everything else liquid, maybe $50k.

Sunny

 

I guess it really depends on if you're doing it for yourself or to impress others.
Some like Ferraris to show off, and some like them for what they are and they keep them rather low profile and use them for their own enjoyment and not tooling around the fancy shopping districts showing everyone what they have...Some buy an airplane so they feel they have "made it" and some buy one because they like to fly and the rest of time it's locked in the hanger and no one is told about it...Around here, most of the well established businessmen and professionals drive moderate cars....Well know plastic surgeon drive a 20 yr old Porsche, and another a 97 Dodge pickup.....Most of the Escalades, Rovers, BMw's are leased by those who choose to "appear" rich but really couldn't get financing for a pencil based on debt...It's same age old issue about buying what you like for you're own enjoyment or buying it for "others" to like it or to like you...The other issue is although we are on a car site many in the world don't give a rats ass about cars, boats and planes..Warren might have a bazillion dollar collection of stamps..You just never know...To each his own...but from my experience the ones who look the fanciest are so far in debt they can barely pay interest(and now interest only homes) and those that I know who have PLENTY of money are quite moderate...Not slobs and not penny pinchers, but much more moderate than the "look at me I have money(at least I'll make you think I do ) crowd".
I have friends in building wholesales and real estate as well as car sales and they are constantly telling about the guy who came in wearing this or that and got denied, and the plain looking almost bum who pays cash everytime

 

My favorite TV character: Stanley Johnson



http://www.bytesend-inc.com/fun/stanlet.htm







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Here in Dallas, two of our richest--H.L. Hunt and Ross Perot--are (past tense for Hunt--long dead) known to have driven nondescript American 4 door sedans. Perot has gotten his hair cut at the same old-time men's barbershop for many years, and at one of my old jobs my boss told me he used to see Hunt walking into the building across the street, where his office was, with his lunch in a brown bag. When it came to houses , though, they made up for their other frugalities. I think Hunt was worth around $5B at the time of his death in the mid 1970's and Perot is worth at least that much now.

 

I finished the sale of two of my largest holdings today. Park Place and Broadway sold for a tidy sum, in the tens of millions.

 

Yeah, but was it $26 million???!!!???


http://ferrarichat.com/forum/showpost.php?p=134569477&postcount=13



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Understatement of the year? I mean if Art is low end are the rest of us starving children from Sudan and Tunisia?

 

MUCH MORE. WHEN WE PLAY MONOPOLY, WE PLAY MONOPOLY.

 

My girlfriend's dad has the greatest scam going- he drives an '89 Volvo wagon and grumbles about being broke all the time. She doesn't dare ask him for money, yet he's the heavy-lifter for his firm (which represents one of the biggest corporations in the U.S.) and if even my basic math serves me right, he's way ahead of the game.. but you'd never know it from looking at him.

-Chris

 

LOL, Im in the same boat.

 

Driving around in a 65K rover, 50K Mercedes, Fancy house in nice sub, J crew, and boat to boot....Never use boat, no furniture in house, and 400K in debt.....Everyone thinks your loaded!! Even a BIGGER scam!!

 

Good point.

I may not have a whole lot, but debt certainly isn't one of my possessions.

-Chris

 

I'd be in the same boat too, but unfortunately, mine is at the bottom of the lake! LOL

 

Wow - upper middle class with a net worth of $1-2 Million? That amount is definitely in the upper reaches of wealth in the US. The 2001 US Census data showed median net worth in the US at $55,000 (the VERY wealthy few skewed the Average net worth up to $91,000).

While definitions of "rich" vary wildly, looking at a couple of investment sites focusing on High Net Worth individuals (net worth over $1 Million, $500K investable funds, or $100K+ salaries), commonly rate the number at only 2.5% of the total population.

From the responses to this poll (ignoring the bogus $2B+ responses) it appears that many here are very fortunate, indeed.

 

There is no upper middle class. It was made up so middle class people could feel more important than the no, I mean low class people who were considered middle.