How long before Elon Musk and Jeff Bezos go broke if they spent $1 million a day?

Since 2020, the richest men in the world have grown their wealth at a breakneck speed. As per a 2024 Oxfam international report, the top four richest men in the world --  Elon Musk, Jeff Bezos, Bernard Arnault, and Mark Zuckerberg -- grew their wealth by $14 million per hour, since 2020. The top two, the CEO of Tesla and the founder of Amazon, have remained at the top for quite some time with a combined net worth of $445 billion, as per the Bloomberg Billionaires Index. They are so rich that it would take them ages to go broke even if they spent $1 million per day. 

An unimaginable time, that's how long it would take

If Musk and Bezon spent a million dollars every day, without taking any breaks, it would take well over half a millennium each to go broke. Bezos with a net worth of $204 billion, as per Bloomberg would last a whopping 558.9 years and Musk with a net worth of $241 billion would last a staggering 660.27 years.

This means they can buy supercars, and real estate properties, take vacations, and more things that common people dream of, every day for over half a millennium. 

Furthermore, the two also have their money tied up in real estate and other assets which could allow them to last even longer. 

However, it has taken them decades to amass such kind of wealth. Both Musk and Bezos are known to be workaholics who have been on the grind for a long time.

Also, their net worth may not represent their true wealth, as it is subjective to their holdings and investments. 

For instance, Musk's net worth fell by a good deal on Thursday after Tesla's stock tanked. As Tesla stock took a 12% dive, the value of Musk's 13% share of the company also fell. The world's richest person lost about $16 million in a matter of hours, after his company posted weak third-quarter earnings, as per Bloomberg. 

The single-day decline in Musk's net worth was equivalent to the total net worth of James Ratcliffe, the second wealthiest person in the UK. Despite the drop, Musk remained over $30 billion richer than Bezos.

How do average Americans stack up agains the billionaires?

To put things in perspective, an average American household has a net worth of roughly $1.06 million according to the most recent report released by the Federal Reserve in 2023. However, the number doesn't represent the majority as the wealthier households drive the average up. Thus, looking at the median would give a more accurate representation. The median net worth of an average American household is $192,900, pennies compared to the top two richest men. 

While most Americans can't imagine spending money like Musk and Bezos, they can have a taste of their riches virtually. There are plenty of online games available that let players spend billionaires' money on things like cars, bikes, groceries, furniture, real estate, and more. The simulation games offer a variety of things and billionaires to choose from.