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Luigi Mangione Eligible for the Death Penalty (slrpnk.net)
submitted 1 year ago by to c/luigimangione@lemmy.world
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[–] 9 points 1 year ago* (last edited 1 year ago) (2 children)

The S&P doubled in the last five years and more than tripled in the last ten. Pocket $20M of that $26M, at $1.6M/mo, while earning around 15% yoy ROI and you're looking at $400M inside a decade.

Compound interest is propelling already-rich people into the stratosphere.

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  • [–] 4 points 1 year ago (1 child)

    15% yoy is too generous. S&P has averaged 10% p.a. over the past 100 years.

    But yes, compound interest brings the billion target ($20M pocketed @ 10%) down from 40 to 18.8 years.

    But remember, the average CEO tenure is about 7.5 years.

    Getting to a billion through a salary only is very difficult.

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  • [–] 2 points 1 year ago

    Sooner or later he would have been offered the CEO position of a big health tech start-up, it would have grown for a few years, than either gone public or sold for several billion, and he'd be the Billionaire he was angling to be.

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