Have You Ever Thought Of This?

[clatoden99]

What would happen if the world's richest men donated $1 million to every inhabitant on earth?

[Fishindude77]

Hey, don't let the rich ladies off the hook.

[Koolmagicguy]

First of all, no one has 15 quadrillion dollars.

[Singuy]

How about this.

If you strip away everyone's money in the world and equally distribute it to everyone in the world..every person will end up having $32,845.

So whoever thought a billionaire can distribute a million to everyone in the world apparently doesn't know math.

[rennigade]

op...do you even math bro?

[greenskeeper]

What would happen if the world's richest men donated $1 million to every inhabitant on earth?

They'd come up a bit short on cash?

[frugalNH]

Pretending that the numbers would work, I believe the theory that within a few years and with few exceptions, everyone would be back to where they were, financially speaking. Those who handle money well would amass more wealth, and those who are irresponsible with their money would be scratching their heads, wondering where it all went. Math is math, and habits do not change with the wave of the wand. The exception would be those who have fallen on desperate financial times through no fault of their own (costly medical issues, lengthy unemployment, things like that). Studies have shown that a large percentage of HUGE lottery jackpot winners go broke in a seemingly very short time. I don't have reason to believe this would go differently.

But if you are super rich and debating this scenario, let's try it out! PLease send my million to:

(just kidding)

[corn18]

The impact would be that all the stupid people would spend their newly found million and drive inflation through the roof. Those that weren't stupid would drop their million into 5 year cd's locked in at 15% interest. At the end of the mayhem, the poor would still be poor but with a lot of stuff. The rich would get richer. And the woe is me crowd would be back at it saying they need another million and it will all be good.

[Singuy]

The impact would be that all the stupid people would spend their newly found million and drive inflation through the roof. Those that weren't stupid would drop their million into 5 year cd's locked in at 15% interest. At the end of the mayhem, the poor would still be poor but with a lot of stuff. The rich would get richer. And the woe is me crowd would be back at it saying they need another million and it will all be good.

I think it's the opposite.

When someone receive a million dollars, what's the first thing they do?
1. Quit their job (and a lot of people may burn their bridge while doing so)
2. Go out and buy crap


That's a combination for disaster. The person who saved their money may end up not have anything left to buy due to hyperinflation(since no one is working to produce goods).

I would probably buy a house asap and lots of water and can food...lol

[Petunia 100]

If everyone on Earth were a millionaire, being a millionaire would not make you rich.

It's just a number. What you can buy with any particular amount of money is not a fixed constant.