Twelve Miles High

The current issue of The New Yorker reports that NYC Mayor Michael Bloomberg's net worth is $17.5 billion. Put in layman's terms, "That's a stack of $100 bills twelve miles high."

Pilot to passengers, "We've reached our cruising altitude of 55,000 feet. To your left, we are passing over Mayor Bloomberg's cash pile. It's the same height as two Mount Everests stacked on top of each other."

The New Yorker continues, "He will have spent well over one hundred million dollars getting re-elected this year." and "He has spent more of his own money than any other individual in United States history in the pursuit of public office."

The old adage informs us, "You've got to spend money to make money" (or get elected). That's somewhat easier to accomplish when $100 million represents less than 1% of your net worth. If most Americans are worth $100,000 between the equity in their house, the Blue Book value of their cars, and their savings / investments, it's like coughing up $700 for a new suit and a salon makeover for that big job interview. It's worth it.

So good old Michael Bloomberg essentially did what any of the rest of us would do to land a good job.