Thread by @TrungTPhan

1/ A Redditor who runs in high net worth circles writes on the "gradations of rich".

He explains in minute detail the difference between being worth $10m+ and $1B+.

It' a doozy 🧵

2/ As background: the Redditor says while he's not super rich himself, he counts 8 billionaires as close friends.

He says there are 4 major breaking points of "rich:

◽ $10m-$30m
◽ $30m-$100m
◽ $100m-$1B
◽ $1B+

3/ At $10m to $30m

◽Needs met
◽Fly 1st class
◽Very nice house
◽Live 4/5 star life anywhere
◽ You can surive a financial disaster
◽At lower end, you still have to be "prudent"
◽Business stress remains (never goes away)
◽Banks don't classify you as ultra high net worth

4/ At $30m to #100m

5/ At $100m to $1B

6/ At $1B+

This section is longer but he goes through things you can buy at this level:

◽ Access
◽ Influence
◽ Time
◽ Experiences
◽ Impact
◽ Respect

7/ Here are the Redditors closing thoughts.

8/ If you like discovering gold from Reddit, def follow @TrungTPhan.

If you want to @ me, just send all complaints to the original post: reddit.com/r/AskReddit/co…

9/ FYI: If you’re new to the Trung experience, heres a collection of my smartest threads and dumbest memes

https://twitter.com/TrungTPhan/status/1388861558529302532

10/ Wow, this Reddit thread taking off.

Here are some of my own personal stories from meeting billionaires:

https://twitter.com/trungtphan/status/1380902135752126475

11/ This is interesting, too

https://twitter.com/nevmed/status/1389615721186013185?s=20

12/ Lastly, check out the “Not Investment Advice” podcast as we’ll discuss this absurdity next ep

🔗

13/ To give a 360 view: pulled a bunch of quotes from Reddit and Quora threads on the "downside of being wealthy":