Bill Gates dynasty:
27 Apr '10 13:03Bill Gates wants to do the opposite of his poker buddy Warren Buffet who refuses to give his son much of anything of his fortune when he kicks the bucket. Billy, hearing that, thinks 'I will do just the opposite', I will set up a fund with all my money, 50 billion dollars US which gets 5% interest per year and start with each child, he has 7 kids all grown up with kids of their own (we know that isn't true in real life) and gives them 3 million each with 2 mil in a fund getting 3% interest, giving each kid $60,000 bucks a year income plus a mil in hand. He has to pay 40% tax for each of those 3 mil donations. So starting with that first generation with a decent living, assume each adult lives the extremely long life of 100 years and each kid after getting the same but with the stipulation that when an adult dies, their money, whatever is left over, we can assume the one mil is gone, leaving 2 mil to go back in the kitty (the 50 bil), how many generations can keep up that standard of living using only the interest on the original 50 billion (5% per year)?
assuming a 2% population growth and their are 14 kids of the first generation to have the fund set up (Gate's grandkids)
assuming a 2% population growth and their are 14 kids of the first generation to have the fund set up (Gate's grandkids)
