>Buffet could lose 99% of his net worth, and still be one of the top 5,000 or so wealthiest people in history. He could then lose 99% of that wealth, and still be comfortably inside of the top 1% of wealth holders. He could invest that 1% of 1% of his money in a broad index, and comfortably live off the hundreds of thousands of dollars in annual returns.
This didn't seem true, but I think you're right.
Warren Buffet is worth about $90B. If he loses 99% of that, he has $900M, which is probably still top 5,000 overall. And then if he lost 99% of that, he'd be down to $9M, which he could invest conservatively for a 4% return and live off $360k/yr.
This didn't seem true, but I think you're right.
Warren Buffet is worth about $90B. If he loses 99% of that, he has $900M, which is probably still top 5,000 overall. And then if he lost 99% of that, he'd be down to $9M, which he could invest conservatively for a 4% return and live off $360k/yr.