07-18-2013, 03:54 PM
Racer X wrote:
[quote=AllGold]
[quote=cbelt3]
But does he get to keep the INTEREST ?? Even .00000001% is gonna be money
Yeah, I'd take a reasonable current interest rate on that. You'd only need an hour's worth of interest to come out like a bandit. Heck, a minute would probably be pretty good.
Of course the money didn't actually make it all the way into his account.
Every time I see quarterly earnings reports for companies like Apple or Exxon, I think of how nice it would be to have a day's or even hour's worth of interest on multiple billions.
miley-signs117:
There was a while in about 1998 where Bill Gates was making $37,000 a minute. He made more in the time it took to crap and wipe than most of us made in a year.
In interest? What kind of interest rate was he getting?
$37,000/minute = $2,220,000/hour = $53,280,000/day * 365 = $19,447,200,000 per year.
Use 5% interest annually as an example, and that's a principal of almost 400 Billion dollars.
And how much did he have in cash earning interest, most of his wealth was in Microsoft stock.
Maybe his overall wealth on paper increased by 20 Billion in one year, but it wasn't from interest.