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soupboy on Sept 22, 2014 | parent | context | favorite | on: What are hedge funds, and what social functions do...

> How did a few asset managers earn more money in a single year than Pierpont Morgan did in his whole life?

Ummm, no they don't. $1 in 1913 is around $24 in today's dollars[http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=1&year1=1913&ye...]. So JPM's net worth today would be $36 billion making him the 12th richest person person in the world [http://www.bloomberg.com/billionaires/2014-09-19/aaa].

bza on Sept 22, 2014 | [–]

The $1.5 billion figure given in the article is already in today's dollars.

priv_acy on Sept 22, 2014 | | [–]

JP Morgan was far richer than that in his day. It's disingenuous at best.

melling on Sept 22, 2014 | | | [–]

It is also completely wrong.

pound on Sept 22, 2014 | [–]

"fortune of about $1.5 billion in !today’s! dollars."

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