
The 2015 Wealth Report - prostoalex
http://content.knightfrank.com/research/83/documents/en/wealth-report-2015-2716.pdf
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paulsutter
These guys need to take a lot closer look at Silicon Valley. They report that
San Francisco has only 526 people with a net worth over $30 million. That's
crazy low.

Just for example, Dustin Moscovitz says that employee number 100 made $200M at
Facebook[1]. Imagine the number that made $30M, and that's just one company
(see slide 14).

[1] [http://www.businessinsider.com/dustin-moskovitzs-startup-
adv...](http://www.businessinsider.com/dustin-moskovitzs-startup-advice-
deck-2014-9?op=1)

~~~
ganeumann
It actually seems low to me too. $30 million is a lot of money, but given the
number of companies with $1bn+ valuations recently, you'd think there would be
at least 200 from those alone.

It may be they are not counting paper wealth in private companies. It may also
be that many of these $1bn+ valuations came in the last year or so (their data
is from 2013.)

~~~
hkmurakami
If the company is worth $1BB, then you must own 3% of its equity in order to
have $30MM worth of equity of that company [1].

Non-founders rarely, if ever, are given that much equity (commonly cited
numbers tend to top out around 2%). The most likely candidates are engineer #1
and an early VP, but engineer #1 has likely been diluted by over 30% since
seed stage and even the exec will have been diluted by 10~20%.

At $5BB, a nonfounder needs about 0.6% of the company. By this point though,
dilution is usually even more severe, and engineer #1 will likely have had
his/her initial share cut by close to 50%. This means that only the earliest
of early employees, along with the VP level hires, will have $30MM at a
typical $5BB startup (though $5BB startups are hardly typical).

It's the companies that are another order of magnitude higher in valuation
that mint wealth of that kind to dozens of employees.

[1] ignoring liquidity preference for the sake of simplicity.

~~~
will_work4tears
MM is often used to denote millions, but I don't think BB is used to denote
Billions. Do you have a cite that indicates otherwise, because I don't see it
on a quick search.

~~~
gohrt
M = 1000

MM = 1000 * 1000

NMM = 1000 * 1000 * 1000

pp = pages

ll = lines

so it's a natural logical extrapolation to go for

bb = billions

[http://www.riskglossary.com/link/mm.htm](http://www.riskglossary.com/link/mm.htm)

~~~
panglott
If the analogy is billions to millions, BB = Billion * Billion

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nostromo
Original source is more interesting:
[http://content.knightfrank.com/research/83/documents/en/weal...](http://content.knightfrank.com/research/83/documents/en/wealth-
report-2015-2716.pdf)

~~~
dang
Ok, we changed the URL to that from [http://fortune.com/2015/03/09/private-
jet-routes/](http://fortune.com/2015/03/09/private-jet-routes/), and the title
from "Private Jet: Moscow to Nice Is Most Popular Route for Private Planes".

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cft
This is purely an anecdotal evidence, but I like to walk in Pacifica, CA which
is on the flight path from SFO runway 1R/19L. On the weekends, the number of
private jets taking off is equal to the number of commercial jets.

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sandsand
In addition to the original info about the Moscow-Nice flight there
([http://content.knightfrank.com/research/83/documents/en/weal...](http://content.knightfrank.com/research/83/documents/en/wealth-
report-2015-2716.pdf)) are some more curious stats about Russians: the
percentage of Russians of all UHNWIs willing to emigrate (33%), and the
percentage of them who send their children to study abroad (61%). Not that the
tendency was not known before though.

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swatow
This was a very strange report. Skipping to the middle I thought it was about
wealth in general, which seemed like a nice counterpoint to the study of
poverty. I'd be very interested in reading about trends in people earning
above $60,000 a year, and how the rest of the world can get there. But this
was really about "Ultra high net worth individuals" which doesn't strike me as
a very interesting topic.

~~~
crxgames
I would be pretty interested in something like that too.

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jamesrom
Beautiful data.

