2024-03-11

What is the actual consumption of top .01%?

Together, Larry Page and Sergey Brin own about 6% of Alphabet’s stock, worth around $100B. Their stocks are structured such that this ownership grants them final say on any decision Alphabet makes. However, the day-to-day running of the company is left to Sundar Pichai. Larry and Sergey sit on the board of the company, and can, of course, veto any decision Sundar makes. Sundar’s net worth, while still high, is “only” around $1.6B, a fraction of the founders’.

What is the difference between Larry and Sundar?

In one sense, Page’s lifestyle could be considered expensive. He bought a superyacht for $45M. He also has various properties, and his Palo Alto estate is thought to be worth $15M. Yet, it seems unlikely that that more than a $1B of his $113B net worth is spent for personal use. Even if we assume he has a private jet or two and a few more estates.

Most of Page’s net worth isn’t spent on personal consumption.

This seems different from owning 10,000 ten-million dollar mansions, all for Page’s own private use.

The President of the United States also has certain executive powers. For example, he can veto

The President shall be Commander in Chief of the Army and Navy of the United States, and of the Militia of the several States, when called into the actual Service of the United States