That is what one man earned in 2007 according to the Boston Globe. 3,700,000,000.
No, not a company, one man earned that much money. Yep, a far cry from minimum wage... John Paulson, a hedge fund manager who predicted the subprime lending crisis would happen and thus resulted in massive foreclosures on home mortgages, led as the top earner among hedge fund managers. The top five managers all earned over a billion dollars in income. There’s just no getting around it…that’s a lot of money. Just for fun let’s consider how much that is…
$ 308,333,333. a month
$ 71,153,846. a week
$ 10,136,986. a day
$ 422,374. an hour
$ 7,039. a min
Now, some might feel that Mr. Paulson was overpaid…so let me pose a question: What do you suppose would justify earning that kind of salary in a calendar year?
Friday, May 16, 2008
3.7 Billion Dollars
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21 comments:
i would say - teaching children how to farm.
Tom,
My father-in-law is a farmer and I'm sure he would support your opinion.
mr. joad is partially correct. i would add... teaching children how to fish. or how to salute the american flag... oh... wait. that's a different post.
it's all relative. i know a lot of good things i would do with a lot of money but i also try to do good with what i have (which is a lot of money). a poor farmer in guatemala may look at my 28K and wonder... "what substantiates someone making that kind of salary?"
Travis...
I agree that it is all relative (thank you post modern culture), but the question is not, what would you do with that money. The question is...what job, occupation, or form of employment might justify the salary paid to Mr. Paulson.
i answered that question.
ah yes....teaching kids to fish...
my bad.
Omega-3 is overrated!
Listening to groups of female student come in to complain after housing assignments are posted.
Worth is a fickle thing. I don't think anyone who is wise would want that much money. It would be a full-time job funneling that money in more appropriate directions. Yes, 28,000 a year is a big deal to some people. But 3.7 billion dollars is a big deal to some countries. However, I must answer the question. So, I would say the occupation that would warrant such a salary would be the occupation of philanthropist.
A clever answer Landon...sneaky sneaky.
wow ryan. wow.
i'd say, working in student development on days like today...you're all a little crazy.
= )
3.7 billion??? pssh, that's NOTHING!! :)
how about SGA President at MVNU?
just throwing that out there
remember when it's been over a month since you updated your blog?
= )
i think it's been like 3.7 billion years since you updated...
3.7 Billion...hmmmm he should save it in case something really bad happens to him that he wouldn't expect, so he'll be ready.
Wow that is a lot of money. Even being the #1 golfer in the world and being the 2 of the most prolific players currently in the NBA combined won't get you that kind of money.
The reason he has earned $3.7 Billion dollars is that he has earned his clients a lot of money. The fund has grown from $100 million in 2007 to $9 Billion nowadays. That's why he earned $3.7 billion dollars.
It would be kind of fun to lend all that money on Kiva.org and see how many lives you could improve.
using means of capitalism to prove karl marx was correct. priceless.
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