Left to Right: Clive Palmer, Gina Rinehart and Andrew Twiggy Forrest
Last week one North Coast Voices reader sent me a link to the Fair Go For Billionaires’ Wealth Calculator. Unfortunately my annual income just wouldn’t register, so I went to the mainstream media for some examples.
The Central Telegraph reported on 3 May 2012:
It would take a person earning $70,000 a year - which is roughly the average salary in Australia - 56,000 years to earn Mr Palmer's net worth.
No, that's not a misprint - 56,000 years.
Conversely, it takes Mr Palmer, the man who plans to bring you Titanic 2, just 70.8 minutes to earn $70,000…..
Ms Rinehart? Well, it takes her just 28.8 minutes to rake in $70,000.
And if you've got a spare 67,857 years you too could earn her net wealth…….
Mr Forrest needs only 20 minutes to make a measly $70k, but the average Australian worker earning the same amount would need 6,057 decades to match his net worth.
Of course the lower your annual salary, the more depressing it gets.
Australian Opposition Leader Tony Abbott and Gina Rinehart
Photos from the ABC website and Google Images