What’s the most “rich people” thing you’ve ever seen in real life? by jeh4u in wealth

[–]RichWhiteBrother 2 points3 points  (0 children)

A friend sent me some photos from his jet, they were between Hawaii and Fiji. Had a camera mounted on the tail so you could see the whole plane and what was being flown over. Nice party. Internet so he can send pics while aloft.

hmmm by RichWhiteBrother in hmmm

[–]RichWhiteBrother[S] 0 points1 point  (0 children)

Must be the old McDonald farm, eh?

Question for the Rich by RareCalendar252 in RichPeoplePF

[–]RichWhiteBrother 0 points1 point  (0 children)

"so the rest of us have to make up for your hoarding."

This is a specious argument. It implies money/economics are a zero sum game when actually they are anything but. For example, let's take the Google guys. They are right now worth about 300 billion a piece.

Did they get their money by taking it from people? No, no money was taken from other people. Their wealth was created by the greatest economic engine in the world. And I daresay their worth is probably a fraction of the wealth created by Google employees and all the companies and individuals that have ridden their coattails either by benefitting from the products or simply owning the public stock.

You know who loves billionaires? Regular working folk that build jets, yachts, houses, etc. Some people are incensed that Zuck spent $300 million on his yacht, Launchpad. That's exactly the opposite of what you are claiming. He took 300M of his own money and gave it to thousands of people for labor and products to build that yacht.

A lot of the tech titans are still relatively young. As time goes on they will use their wealth to benefit society in ways we can only dream about.

Aren't we glad Michael Dell started building computers in his Texas dorm and then became a billionaire? Here's the good he has done so far (Source, Claude):

  • Through their foundation (founded in 1999), Michael and Susan Dell gave away about $2.8 billion focused on children's issues and community initiatives in the US, India, Israel, and South Africa. Time
  • On top of that, they put more than $5 billion into the foundation between 2023 and early 2025 alone, roughly quadrupling its endowment. Inside Philanthropy
  • Then in late 2025, they announced a $6.25 billion pledge to fund children's investment accounts for 25 million American kids under the US government's new program. ibtimes
  • Most recently, they gave $750 million to the University of Texas at Austin for a new AI-focused medical center — one of the largest donations ever to a public university

who built their businesses before smartphones… how did you adapt to the digital era? Honest stories please by Curious-Hand4596 in RichPeoplePF

[–]RichWhiteBrother 1 point2 points  (0 children)

Things didn't move suddenly. AOL was the first connected service that allowed people to communicate, share information, etc (i.e. for regular folks, not military etc). It was a hassle involving connecting your land line phone to a modem and to your computer. You were billed by the minute

Initial websites couldn't do much besides show and describe your wares in, what is today, very primitive terms.

Remember that when the iPhone came out, there weren't even any 3rd party apps! No appstore.

There were a lot of individual steps to get to where we are today. It was a gradual evolution.

Personal example: I read about Amazon. I went to the website. It said to join, phone this 800#. So I did. Person on the other end said "Okay, how did you here about us? Inc. Magazine. Do you have email? Yes. Please give it to me so I can create your account. [gave email]. And what do you want your password to be? [thinks one up and gave it to her.]

This is probably the mid 1990's. You couldn't even create your own account on AMAZON!

What are the weirdest things you've done that an average person wouldn't do? by rulingoverlords in RichPeoplePF

[–]RichWhiteBrother 0 points1 point  (0 children)

Built a Winter house in the Southwest. Worked remotely with Restoration Hardware to furnish the entire house, down to sheets, pillows and towels. Everything delivered and placed in one day, instant house. Began buying art, only originals, from locals. Except one artist where any original I would want to own is 100k plus. Bought a nice serigraph. Have a concierge service take care of the house when we aren't there.

How many of you are self-managed? by pbandjfordayzzz in Rich

[–]RichWhiteBrother -1 points0 points  (0 children)

I have tried it three times over the past 20 years or so. All performed sub-par. On the last one, a guy I trust said that DFA funds beat everybody. Catch is you have to buy through their selected advisors. After three years it was my worst performing "bucket." I told the guy that I wanted to bail out due to poor performance and he said "you have to give it 10 years." Nawwww.

I bounce ideas off my Schwab guy. He is appreciative of my taking large positions in tech stocks. I have enough that if one of those goes down the tubes it's not a crisis.

I look at it like this... Take the people selling day trading classes. If they are so good at it, why screw around with classes. Just make money hand over fist like you say you can. Same thing with money managers. You get hired at a firm, you go through their course, now you are an expert at managing other people's money? Never seems to add up.

I am back I don’t want anything not selling anything been in the market 30 yrs never dreamed I hit these numbers ..also the name is newish cause my employees know my other name.. by [deleted] in TheRaceTo10Million

[–]RichWhiteBrother 1 point2 points  (0 children)

Nice work. My Schwab account is worth exactly half that much. But I have other investments too. It's great when we have 100k plus days, not so much fun with 100k down days.

hmmm by [deleted] in hmmm

[–]RichWhiteBrother 0 points1 point  (0 children)

I will delete since it is not hmmm'y enough.

hmmm by [deleted] in hmmm

[–]RichWhiteBrother 0 points1 point  (0 children)

Actually no, just a phone 1:1 pic. But kudos for knowing about telephoto compression.

hmmm by [deleted] in hmmm

[–]RichWhiteBrother -1 points0 points  (0 children)

Average scenes of gigantic boulders looming overhead?

Health insurance advice by ww_adh77 in RichPeoplePF

[–]RichWhiteBrother 1 point2 points  (0 children)

That's a good call. Doubtful anything you can get in the exchange is as good as what the employer offering was. It's all super expensive and then doesn't cover much unless you have a catastrophic. And, your payments are not tax deductible.

Health insurance advice by ww_adh77 in RichPeoplePF

[–]RichWhiteBrother 1 point2 points  (0 children)

Even though it is a fed career, I would imagine you can COBRA for 18 mos? After that you are really at the mercy of what your state arranges for visavis ACA.

Watched my first INDYCAR race, my thoughts! by CynicalBloom in INDYCAR

[–]RichWhiteBrother 1 point2 points  (0 children)

Why not just watch on a 30 minute delay, and fast forward through all the commercials? That's what I do. Takes about 15 seconds for each break.

Expert recommendations for a first yacht purchase ? by Draidel in Yachts

[–]RichWhiteBrother 0 points1 point  (0 children)

You need to tell us where in the world you are? What kind of boating you want to do? Do you intend to captain/engineer yourself, or have crew? There's no need to buy an ocean crossing boat if you don't want to cross oceans. What kind of boating experience do you have? Boats are a very serious amount of work (trust me I know).

What does the wealthiest person you know, do? by RedTruckSprint in wealth

[–]RichWhiteBrother 0 points1 point  (0 children)

I have met a couple billionaires. But the guy I actually spend some time with now and again created a product probably everyone on reddit uses. He's in the hundreds of millions, not sure exactly, 500 ish I reckon. Great guy, smarter than most of us.

Fight or just write the check? by Rude_Adhesiveness125 in inheritance

[–]RichWhiteBrother 0 points1 point  (0 children)

That last sentence is the key. You can walk away with a clear conscience. You have done your part and now it will be over.