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michael_nielsen's profile
michael_nielsen
michael_nielsen
michael_nielsen
@michael_nielsen

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michael_nielsen

@michael_nielsen

Searching for the numinous. Co-purveyor of https://quantum.country/ 

San Francisco, CA
michaelnielsen.org
Joined July 2008

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    1. Robert Wiblin‏ @robertwiblin Jan 30
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      Guess what fraction of total US wealth is owned by billionaires.

      37 replies 24 retweets 109 likes
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    2. michael_nielsen‏ @michael_nielsen Jan 30
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      Replying to @robertwiblin

      Quickly eyeballing this list https://en.wikipedia.org/wiki/List_of_Americans_by_net_worth … I'd guess about $3-4 trillion for the trillionaires. With a GDP of $20 trillion, let's say total US net worth is $400 trillion (using the unjustified analogy of a 20:1 P/E ratio). So about 1%.

      1 reply 0 retweets 6 likes
    3. michael_nielsen‏ @michael_nielsen Jan 30
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      Replying to @michael_nielsen @robertwiblin

      A sanity check is that $400 trillion means over 1 million net worth per American. Which sounds too high. But, of course, power law distributions tend to inflate averages a lot. I'd be surprised if it was less than $100 trillion, TBH, so in answer to your original q: 1-3%

      3 replies 0 retweets 8 likes
    4. 𝙿𝚑𝚒𝚕𝚒𝚙 𝙲𝚛𝚊𝚠𝚏o𝚛𝚍  🌐 🚀 ⚛️‏ @wiscoDude Jan 30
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      Replying to @michael_nielsen @robertwiblin

      I think $100 Trillion is the commonly used number for total USA wealth.

      1 reply 0 retweets 0 likes
      michael_nielsen‏ @michael_nielsen Jan 30
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      Replying to @wiscoDude @robertwiblin

      Source?

      5:21 PM - 30 Jan 2019
      1 reply 0 retweets 0 likes
        1. 𝙿𝚑𝚒𝚕𝚒𝚙 𝙲𝚛𝚊𝚠𝚏o𝚛𝚍  🌐 🚀 ⚛️‏ @wiscoDude Jan 30
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          Replying to @michael_nielsen @robertwiblin

          Strangely, just had a convo on this last week. https://fred.stlouisfed.org/series/TNWBSHNO https://www.reuters.com/article/us-usa-economy-wealth/u-s-household-net-worth-100-trillion-in-q1-2018-idUSKCN1J3269 …

          0 replies 0 retweets 1 like
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