Heaven on Earth: 5 Levels of Wealth (video)

MagnatesMedia, May 19, 2021; Ashley Wells, Seth Auberon (eds.), Wisdom Quarterly

Inside the Secret Lives of the Ultra-Rich

(MagnatesMedia) ⭐ If one earned $1 per second, to make 1 million dollars would take about 11 and a half days. But to make 1 billion dollars would take over 31 and a half years.

See, it’s easy to think of wealth in terms of "rich or poor," but broadly speaking, there are arguably Five Different Levels of Rich. At each level, things change very drastically.

The difference between what a millionaire can do and what a billionaire can do is simply staggering.

This video explores what life is like at each of these different wealth levels, delving into how the ultra-rich spend their money, including some of their most bizarre and extravagant purchases.

But as one watches, one realizes that one of the biggest changes that happens at each wealth level is perspective. This is because prices feel relative to how much one earns.

So if we compare someone whose earning $40,000 a year with someone earning 400 million a year, it’s 10,000 times more. This means a Lamborghini that costs $300,000 to them is the equivalent of spending $30. A $10 million piece of art? That feels like $1,000.

So while to us these purchases would feel major, to a billionaire it’s not even something they need to think about. And of course, when one is that wealthy, it’s not just items and experiences one can buy.

Let’s instead start off with the first level of rich: The Top 1%. Even though this phrase is synonymous with being extremely rich, if one's income is over $200,000 a year, one is technically part of the Top 1% of earners in the world. So being in the Top 1% may not make one feel quite as rich as one might think. 

This is why beyond this level, wealth starts being measured in net worth rather than income, as the more wealth one has the more assets one has, and one is probably not making one's money from a salary.

So the next level of rich is a net worth of $10 million-$30 million. This level of wealth...

This video looks at ALL the other levels of wealth, including the difference between millionaires and billionaires. What are some of the craziest things rich people buy? What are some of the most expensive items ever made and rarest purchases the ultra-rich make?

Let's visualize wealth in different ways, looking at wealth inequality, understanding how billionaires buy a lot more than just expensive items and special experiences.

This post was inspired by Reddit poster a1988eli (with added research and analysis) who had spent a lot of time with several ultra-rich people and therefore had great insights about the levels of wealth.

His original comment was on the reddit post "What do insanely wealthy people buy that ordinary people know nothing about?"

This levels of wealth video was produced within the parameters of the fair use doctrine. Please contact support@magnatesmedia.com with any questions about the contents of this video. Video created by: John Frazer and Hahoany Assad with inspiration and thanks to a1988eli.

Clip from James Jani's channel that visualizes wealth: The Untold Truth About Money: How to Build Wealth from Nothing

Enjoy this video looking inside the lives of the ultra-rich and what a billion dollars can buy.

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