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by soupboy 4281 days ago
> 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].

2 comments

The $1.5 billion figure given in the article is already in today's dollars.
JP Morgan was far richer than that in his day. It's disingenuous at best.
It is also completely wrong.
"fortune of about $1.5 billion in !today’s! dollars."