Interesting Changes In Rank Of Richest People 1996-2023

[+ azdr0710]

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Edited January 14 by azdr0710

[+ Pensant]

Would love to see what the ranking was 100 years ago.

[Luv2play]

9 hours ago, Pensant said:

Would love to see what the ranking was 100 years ago.

Just off the top of my head, Ford and Rockefeller.

[MikeBiDude]

9 hours ago, Pensant said:

Would love to see what the ranking was 100 years ago.

Chat GPT says:

In 1924, wealth was concentrated among industrialists, financiers, and entrepreneurs. While exact rankings aren’t readily available, here are ten individuals often cited as some of the wealthiest people of that era, based on their industries and influence:

1. John D. Rockefeller (1839–1937)
• Industry: Oil (Standard Oil)
• Estimated Net Worth: $1 billion in 1924 ($17 billion today, inflation-adjusted)
• Rockefeller was the world’s first billionaire and remained the wealthiest person for much of the early 20th century.

2. Andrew Mellon (1855–1937)
• Industry: Banking, Aluminum (Alcoa), Oil (Gulf Oil)
• Position: U.S. Secretary of the Treasury at the time
• Mellon was one of the wealthiest financiers and played a significant role in the U.S. economy.

3. Henry Ford (1863–1947)
• Industry: Automotive (Ford Motor Company)
• Estimated Net Worth: ~$1.2 billion in 1924
• Ford revolutionized manufacturing and made automobiles affordable for the masses.

4. William Randolph Hearst (1863–1951)
• Industry: Publishing
• Net Worth: Significant holdings in newspapers and media
• Hearst built a massive media empire and influenced public opinion.

5. J.P. Morgan Jr. (1867–1943)
• Industry: Banking (J.P. Morgan & Co.)
• Net Worth: Controlled vast financial assets
• Morgan managed the powerful banking empire started by his father, J.P. Morgan Sr.

6. Charles M. Schwab (1862–1939)
• Industry: Steel (Bethlehem Steel)
• Net Worth: Significant wealth from steel production
• Schwab played a major role in making steel a key industry in the U.S.

7. Pierre S. du Pont (1870–1954)
• Industry: Chemicals (DuPont), Automotive (General Motors)
• Net Worth: Extensive industrial wealth
• Du Pont helped transform his family’s chemical business into an industrial powerhouse.

8. Andrew Carnegie (1835–1919) (Posthumous Wealth)
• Industry: Steel (Carnegie Steel Company)
• Net Worth: Vast charitable trust established after selling his company
• Though he passed away in 1919, Carnegie’s wealth was still influential through his foundations.

9. Marshall Field (1834–1906) (Posthumous Wealth)
• Industry: Retail (Marshall Field’s department stores)
• Net Worth: His estate and retail empire continued to generate significant wealth.

10. George Eastman (1854–1932)
• Industry: Photography (Kodak)
• Net Worth: Major wealth from the camera and film industry
• Eastman popularized photography and made it accessible to everyday people.

While historical records vary, these individuals represent some of the wealthiest figures of the 1920s, thanks to their influence on key industries.

[BSR]

2 hours ago, MikeBiDude said:

Estimated Net Worth: $1 billion in 1924 ($17 billion today, inflation-adjusted)

The term "millionaire" was coined in the 1920s, when a net worth of $1 million meant you were pretty damn rich.  Today a net worth of $1 million means you're ... comfortably middle-class?

[+ PhileasFogg]

18 hours ago, Pensant said:

Would love to see what the ranking was 100 years ago.

You mean back when all federal tax was paid by less than 2,000 people and the lion’s share was paid by Rockefeller?