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Difference between $1 million and $1 billion

Given that there is so much attention being paid to billionaire donors in this year’s presidential election, I hope the following gives voters something to consider.

According to published reports, there are 11 million millionaires and more than 500 billionaires living in America today. Besides the obvious, that $1B is 1,000 times greater than $1M, here is another way of explaining the difference between the two:

First, if someone invests $1M in a fund that offers a 5 percent annualized return, he or she will be $50,000 richer after one year; and second, compare that to someone who invests $1B in the same fund with the identical 5 percent annualized return. At the end of a year, he or she will be $50M richer.

It’s been said that “money is the mother’s milk of politics.” Comparing the difference between $1M and $1B, it shouldn’t surprise anyone some candidates want to drink from the trough. 

Denny Freidenrich
Laguna Beach

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