Several diarists, along with Color of Change, and others, have expressed concern with the almost unbelievable wealth of the heirs of Sam Walmart, reported to be just over 150 billion dollars (billion, with a B). If that estimate is off by only one percent, it's off by 1.5 billion dollars---that's fifteen hundred million dollars.
Those scary figures gave me an idea that might accomplish a couple of goals: First, demonstrate just how much money 150 billion dollars really is and, second, show how these heirs might help out a few of their hardly highly paid employees. Please read on below the diagram of a truly awesome road racing course.
While recognizing that this 150 billion dollar figure may be entirely arbitrary, let's use it as a relatively round, ballpark amount. Also, Walmart is reported to have 1.2 million employees, so we'll use that as our second ballpark number.
Let's say that the Walmart heirs decided to gift each and every employee a $100,000 check which, we decide, will be tax free. This act of charity would cost the heirs 120 billion dollars (that is, if my math is right, which is a dubious assumption.) Doing so would leave the heirs with a paltry 30 billion dollars among them. I don't know how many heirs there are in this assembly so, to make the math easy, I'll say there are thirty.
First, let's talk about the 1.2 million employees and the $100,000 check each one receives. These employees may use this money in any way they choose: pay bills, buy a house, go to the betting parlor, etc., but again, in the interest of fairness, let's say each one decides to take the $100,000 and invest it at a guaranteed rate of 6% annually, paid at the rate of $500 each month. This amount, added to their their wages, might keep the wolf from the door.
Now we have thirty heirs splitting that paltry 30 billion dollars. Let's assume they do just as the 1.2 million employees have, and each one invests their one billion dollars at 6% annual interest, payable monthly. Since 6% of one billion dollars equals $60 million dollars, each of these heirs will have to make do with only five million dollars a month. And everyone knows, there is no way a family can subsist on that.