Wednesday, January 25, 2012

How Rich Is Willard "Mitt" Romney : The Answer(s) to the TBL Math Puzzler of the Day

This morning I posted the following question on Twitter. "Your Math Puzzler of the Day : If Willard "Mitt" Romney drops a twenty on the sidewalk, is it worth his time to bend over and pick it up?"
I didn't know the answer myself when I tweeted the question, but I had the feeling that it would be a close call.

Now I've done the math and I have two answers.
  1.  Based on income, the surprising answer is Yes!  He has reported his estimated 2011 income as $20,900,00.00.  If we assume for the sake of argument that he actually "worked" for this investment income at a rate of 40/hrs week and 52/wks year, his hourly pay would be $10,048.07 per hour, or $167.47 per minute, or $2.79 per second. So, if Mitt could pick up that twenty-dollar bill in less than 7.17 seconds, it would be worth his valuable time to bend over!
  2. Based on net worth, the answer is No, keep walking and let some pauper pick up your loose portrait of Andrew Jackson.  If we accept a commonly reported net worth of $250,000,000.00 for Mr. Romney, then $20.00 represents 0.000008% of that quarter of a billion dollars.  Let's compare that to a more normal net worth of $250,000.00, which might be closer to yours and mine.  0.000008% of that 250K would be two cents.  I think we might not miss a step for those two loose pennies.
It's a silly question anyway. I'm sure he has someone to carry his money for him. He looks like a germophobe to me, and you don't know where that stuff's been.

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