A new article from Bloomberg gives a new index for your net worth. The article starts out by lamenting how the term “millionaire” has lost meaning with the wide range of net worth. So the team built their own wealth range from -2 to 10 (well 11, if you count the two richest people in the world) on an exponential rating system. The numbers go:
The article enumerates this range. With my current wealth, I’m somewhere around a five to six.
So…what does your number actually mean?
The article doesn’t go into much detail, but I think it enumerates the level of difference between someone like Gates and your average millionaire, especially if you remember your math from high school.
On a more practical level, I think there are much better ways to calculate your “number” as something that is actually meaningful rather than “I’m a factor of 5 away from Bill Gates!”
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