y_feldblum Posted January 23, 2007 Report Share Posted January 23, 2007 Then you have earned a high rate of return on capital invested, which you promptly turned into additional capital invested. Quote Link to comment Share on other sites More sharing options...
aequalsa Posted January 23, 2007 Report Share Posted January 23, 2007 Then you have earned a high rate of return on capital invested, which you promptly turned into additional capital invested. Ok, I see. I was understanding rate of return to mean profit. Quote Link to comment Share on other sites More sharing options...
DarkWaters Posted February 8, 2007 Report Share Posted February 8, 2007 Are there other successful Objectivist businesspersons? Science fiction author Terry Goodkind indicates that his heavily influenced by Ayn Rand and Objectivism. Quote Link to comment Share on other sites More sharing options...
simonsays Posted February 8, 2007 Report Share Posted February 8, 2007 For the purposes of this thread I think over $1m in net worth is a good figure to define a successful businessman. Obviously those with less than $1m are still successful but I think what the original poster wanted to know was whether you could reach the top echelons of business by following Objectivist philosophy. Quote Link to comment Share on other sites More sharing options...
y_feldblum Posted February 8, 2007 Report Share Posted February 8, 2007 Why do you think possession of a certain amount of money would be a good definition for success as a businessman? Many people who are not businessmen (i.e., who do not own or run a business) have that much money sitting around: celebrities and stars in many areas, heirs of the wealthy, longtime employees, etc. Quote Link to comment Share on other sites More sharing options...
BrassDragon Posted February 8, 2007 Report Share Posted February 8, 2007 (edited) For the purposes of this thread I think over $1m in net worth is a good figure to define a successful businessman. Obviously those with less than $1m are still successful but I think what the original poster wanted to know was whether you could reach the top echelons of business by following Objectivist philosophy. I don't actually think $1m is that much money in modern America. That much cash would be, but you have to factor in things like housing when calculating net worth - and many people have homes that cost several hundred thousand dollars. EDIT: That said, I think you could be a successful businessperson with a net worth of that much or less. Money isn't a direct indicator of success. Edited February 8, 2007 by BrassDragon Quote Link to comment Share on other sites More sharing options...
softwareNerd Posted February 8, 2007 Report Share Posted February 8, 2007 I don't actually think $1m is that much money in modern America.I think a little under 9% of US households have a net worth of $1 million. If one removes home and 401(k) and looks at "investable assets" (a figure used by companies trying to market investments to the rich), about 3% of US households have $1 million in investable assets. Quote Link to comment Share on other sites More sharing options...
BrassDragon Posted February 8, 2007 Report Share Posted February 8, 2007 I think a little under 9% of US households have a net worth of $1 million. Right, which means having $1m net worth isn't even enough to put you in the upper class - you're still middle class (and not rich). When you consider the number of people who don't even have a college education, that kind of money is definitely achievable if you set out to make a lot of money and go into the right field. Obviously, though, definitions of class and what constitutes "a lot" of money are pretty open to interpretation, so maybe it's a moot point. Quote Link to comment Share on other sites More sharing options...
softwareNerd Posted February 9, 2007 Report Share Posted February 9, 2007 According to this article, there are 755,000 households with "Investible Net Assets" over $ 5 million. With about 110 million households in the country, that means if you're a "Penta-millionaire" you're in the top 1%. On the other hand, the median household networth is somewhere around $60,000 and around $200,000 takes you into the top 20%. So, $million is rich or not rich, depending on how you want to define being rich. Quote Link to comment Share on other sites More sharing options...
JMeganSnow Posted February 17, 2007 Report Share Posted February 17, 2007 Technically you could consider anyone that does any kind of productive work whatsoever to be a businessman: he has at least one employee (himself) and he has at least one unique product (his labor, whatever it is). I find "self-employed" to be a kind of goofy term . . . EVERYONE is self-employed! Quote Link to comment Share on other sites More sharing options...
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