15 Outrageous Ways Ex-NBA Star Gilbert Arenas Spends His $22 Million Salary

15 Outrageous Ways Ex-NBA Star Gilbert Arenas Spends His $22 Million Salary

15 Outrageous Ways Ex-NBA Star Gilbert Arenas Spends His $22 Million Salary

 

Gilbert Arenas

Nancy Ostertag/GettyImages

 

Former NBA player Gilbert Arenas is living a lavish lifestyle as he continues to get paid even though he hasn’t played an NBA game since 2012.

 

He made $22.3 million this season, making him the 30th-highest-paid athlete in the world.

The Orlando Magic used the “amnesty” rule to cut Gilbert and remove him from their salary cap in 2011.

Under the rule, he still gets paid.

So even though he’s out of work, he can afford to spend money like crazy.


He spent $100,000 to landscape his $3.5 million mansion.

He spent $100,000 to landscape his $3.5 million mansion.

Long and Foster Real Estate

Source: Washington Post

He takes his car to a $675 car wash.

He takes his car to a $675 car wash.

Twitter

Source: Washington Post

He spends $5,000 a month for housekeeping of his seven-bedroom, 10-bathroom home.

He spends $5,000 a month for housekeeping of his seven-bedroom, 10-bathroom home.

Long and Foster Real Estate

Source: Washington Post

He has a fancy grotto next to his backyard pool complete with a bar, hot tub, and of course a water slide.

He has a fancy grotto next to his backyard pool complete with a bar, hot tub, and of course a water slide.

Long and Foster Real Estate

Source: Washington Post 

He paid $8,000 for a Mercedes-Benz electric toy car.

He paid $8,000 for a Mercedes-Benz electric toy car.

Youtube Screen Grab

Source: Washington Post 

He has his own personal shark tank. It costs $5,000 each month to feed his sharks and an additional $1,500 for someone to take care of them.

He has his own personal shark tank. It costs $5,000 each month to feed his sharks and an additional $1,500 for someone to take care of them.

Long and Foster Real Estate

Source: Washington Post

He spends $600 on groceries every week.

He spends $600 on groceries every week.

Youtube Screen Grab

Source: Washington Post

He went on a $40,000 dollar shopping spree for his kids at FAO Schwartz.

He went on a $40,000 dollar shopping spree for his kids at FAO Schwartz.

Spencer Platt/GettyImages

Source: Washington Post

He also bought a $60,000 train set for his kids and hired someone from FAO Schwarz to set it up.

He also bought a $60,000 train set for his kids and hired someone from FAO Schwarz to set it up.

Instagram

Source: Washington Post

He’s always ready for a night of gambling, carrying wads of $20,000 in $5 bills to make things easier at the casino.

He's always ready for a night of gambling, carrying wads of $20,000 in $5 bills to make things easier at the casino.

Which in turn has led to wads of $100 bills on a typical night of gambling.

Which in turn has led to wads of $100 bills on a typical night of gambling.

Instagram

He takes great pride in his personal shoe collection of over 2,000 pairs of shoes in his closet.

He takes great pride in his personal shoe collection of over 2,000 pairs of shoes in his closet.

Twitter

Source: Nice Kicks

Which doesn’t include the shoes he wore in the 2010 season worth $7,730, which he gave away in a contest.

Which doesn't include the shoes he wore in the 2010 season worth $7,730, which he gave away in a contest.

Twitter

Source: Counter Kicks

He’s known for showering his friends in cash too. The lucky recipient here is former teammate Nick Young.

He's known for showering his friends in cash too. The lucky recipient here is former teammate Nick Young.

Twitter

He bought a hyperbaric chamber to absorb the oxygen in his home so it would be the same altitude as the Rocky Mountains because he thought it would improve his conditioning.

He bought a hyperbaric chamber to absorb the oxygen in his home so it would be the same altitude as the Rocky Mountains because he thought it would improve his conditioning.

Long and Foster Real Estate

Source: Washington Post

Every 25-Year-Old In America Should See This Chart

Every 25-Year-Old In America Should See This Chart

In the good ol’ days, young Americans went to work for an employer who would promise a comfortable retirement in the form of a pension plan — that is, a defined benefit plan.

Today, it’s increasingly become the responsibility of the worker to put money away for retirement in the form of a 401(k) plan or an IRA — that is, a defined contribution plan.

The goal of this post is not to explain the mechanics of retirement plans. Rather, we want to show you the importance of saving sooner than later.

It all comes down to one elementary mathematical principle: compound interest.compound interest

Compound interest occurs when the interest that accrues to an amount of money in turn accrues interest itself. It’s the deceivingly simple force that causes wealth to rapidly snowball. This is why it’s the concept that is at the core of all finance.

The folks at JP Morgan Asset Management demonstrate the true power of compound interest in their 2014 “Guide to Retirement.”

Their example consists of three people who experience the same annual return on their retirement funds:

  • Susan, who invests $5,000 per year only from ages 25 to 35 (10 years)
  • Bill, who also invests $5,000 per year, from ages 35 to 65 (30 years)
  • And Chris, who also invests $5,000 per year, but from ages 25 to 65 (40 years)

Intuitively, it makes sense that Chris would end up with the most money. But the amount he has saved is astronomically largely than the amounts saved by Susan or Bill.

Interestingly, Susan, who saved for just 10 years, has more wealth than Bill, who saved for 30 years.

That discrepancy is explained by compound interest.

You see, all of the investment returns that Susan earned in her 10 years of saving is snowballing — big time. It’s to the point that Bill can’t catch up, even if he saves for an additional 20 years.

Of course, if Susan saved like Chris … well, if you haven’t noticed, Chris’ savings are just the savings of Bill and Susan combined.

The longer you wait to start saving for retirement, the more you miss out on the benefits of the incredible power of compound interest.

Here’s the chart, in slide form, from JP Morgan Asset Management.

retirement

Mar. 21, 2014, 9:18 AM

Wall Street CEOs First Jobs

Wall Street CEOs First Jobs

Inspirational…
 

 

Jan. 17, 2014, 11:09 AM 4,923

lloyd blankfein

REUTERS/ Pascal Lauener

Goldman Sachs Chairman and CEO Lloyd Blankfein

Some of the biggest names in finance worked a variety of jobs before heading to Wall Street. 

We’re talking about things from bagging walnuts to selling peanuts to delivering newspapers and attending parking lots. 

Some of these jobs were things they did as kids to earn some extra spending money, while others were to pay for college or make an actual living.

We’ve compiled a detailed list of these titan’s gigs. 

Bill Ackman dug ditches and waxed cars as a kid.

Bill Ackman dug ditches and waxed cars as a kid.

Reuters/ Shannon Stapelton

First Job:  Growing up, Ackman had a car waxing business and a ditch digging business. 

Wall Street Career: Ackman, an activist investor, runs Pershing Square Capital Management. He has an estimated networth of $1.2 billion.

Dan Loeb made skateboards.

Dan Loeb made skateboards.

Heidi Gutman/CNBC

First Job: When he was 12, he had a skateboard company where he would make boards for his friends. 

Wall Street Career: Loeb currently runs hedge fund Third Point LLC. He has an estimated networth of $1.5 billion.

Source: Vanity Fair

 

 

Lloyd Blankfein sold concessions at Yankee stadium and lifeguarded.

Lloyd Blankfein sold concessions at Yankee stadium and lifeguarded.

First Job(s): Blankfein grew up in a housing project in Brooklyn. To earn extra money, Blankfein sold concessions at Yankee stadium and worked as a lifeguard.

Wall Street Career:  He’s the CEO and chairman of Goldman Sachs.  

Source: Money And Power

Charles Schwab bagged walnuts.

First Job: Charles “Chuck” Schwab’s first job was bagging walnuts near Sacramento, Calif.  

Wall Street Career: He’s the founder and chairman of Charles Schwab Corporation, a brokerage firm he started back in 1971.  

He has an estimated net worth of $4.3 billion, according to Forbes.

Source: USA Today

Ray Dalio worked as a caddy at a golf club as a kid.

Ray Dalio worked as a caddy at a golf club as a kid.

Screenshot

First Job: When Dalio was just 12 years old, he worked as a caddy at a golf club frequented by Wall Street types.  As a caddy, Dalio was able to make $6 a bag and he later took those funds to buy his first stock.  

Wall Street Career: Dalio is the founder of hedge fund behemoth Bridgewater Associates. Time magazine named him one of the most influential people in the world in 2012. Forbes estimates that his net worth is approximately $12.9 billion.

Source: The Alpha Masters

Warren Buffett sold chewing gum and Coca-Colas and delivered newspapers.

Warren Buffett sold chewing gum and Coca-Colas and delivered newspapers.

AP Images

First Job(s): Starting at age 6, Buffett would go door to door and sell packs of chewing gum. His other door-to-door sales stints included selling magazines and Coca-Cola’s. He also ran a newspaper delivery route.

Wall Street Career: Buffett (a.k.a. “The Oracle of Omaha”) is the chairman and CEO of Berkshire Hathaway and is widely considered one of the most successful investors. 

According to Forbes, Buffett has a net worth of $53.5 billion. 

Source: The FT

T. Boone Pickens ran a newspaper route during his teenage years.

T. Boone Pickens ran a newspaper route during his teenage years.

AP Images

First Job: Growing up in Oklahoma, T. Boone Pickens delivered newspapers as a teenager. He was able to increase his newspaper sales by expanding his route through acquiring surrounding ones. 

Wall Street Career: Pickens is the chairman of BP Capital Management and he’s also the author of his namesake plan for U.S. energy independence “The Pickens Plan.” 

Source: BoonePickens.com 

Steve Cohen worked in the produce section of a grocery store.

Steve Cohen worked in the produce section of a grocery store.

REUTERS/Steve Marcus

First Job: Steve Cohen was a “fruit boy” at Bohack supermarket where he made $1.85 an hour. He quit that job because he was making more at the poker table.  

Wall Street Career: Cohen is the founder of Stamford, Connecticut-based SAC Capital Advisors. Last summer, SAC was slapped with criminal insider trading charges. Cohen has not been charged. Forbes estimates that Cohen, who is also a major art collector, currently has a net worth of $9.4 billion.

Source: Vanity Fair

Phil Falcone was a professional hockey player.

Phil Falcone was a professional hockey player.

REUTERS/Steve Marcus

First Job: After graduating from Harvard, Falcone played hockey professionally for a year in Sweden. He was injured and went to work on Wall Street.

Wall Street Career: Falcone began his career on the Street at Kidder Peabody in junk bonds. He’s the founder of hedge fund Harbinger Capital. In 2012, the SEC charged Falcone and his Harbinger Capital Partners with securities fraud. A year later, he agreed to pay $18 million and accept a five year ban from the securities industry.

Source: Vanity Fair

David Tepper paid his college tuition by working at a library.

First Job: Tepper took a job at the University of Pittsburgh’s fine arts library to help pay for school.

He told Bloomberg TV’s Stephanie Ruhle that he tried to get a job at McDonald’s in high school. 

“As a matter of fact … I tried to get a job at McDonald’s. I couldn’t get a job. They would not hire me. It was a problem to get a hairnet over the afro,” he said.

Wall Street Career: Tepper runs $12 billion distressed debt hedge fund Appaloosa Management. He has one of the best long-term track records and was the highest-paid hedge fund manager last year.  

Carl Icahn joined the Army.

Carl Icahn joined the Army.

REUTERS/ Chip East

Hedge fund titan Carl Icahn

First Job: After dropping out of medical school, Icahn joined the Army before heading to Wall Street. 

Wall Street Career: Icahn is a hugely successful activist investor. He has a networth of more than $20 billion.

Julian Robertson served in the U.S. Navy after college.

First Job: After graduating from the University of North Carolina at Chapel Hill, Robertson served in the United States Navy for two years. 

Wall Street Career: Robertson began his career on The Street at Kidder Peabody & Company in 1957 as a sales trainee.

In 1980, he started Tiger Management Company, one of the most successful hedge funds in the world.  He has also seeded a bunch of his former employees who started hedge funds known as “Tiger Cubs.” Forbes estimates that he has a networth of $2.8 billion.

Source: robertsonscholars.org

Michael Bloomberg worked as a parking lot attendant.

First Job: Michael Bloomberg worked as a parking lot attendant while he was enrolled at Johns Hopkins University in order to pay his loans for tuition.

Wall Street Career: Bloomberg accepted an entry-level position at Salomon Brothers in 1966. He was laid off from Salomon in 1981 and started his own IT company, which is now the media empire Bloomberg LP. Forbes estimates that he has a net worth of approximately $27 billion.

Source: NYC.gov

Jim Chanos took a summer job as a union steel worker in college.

First Job: He worked as a union steel worker in the summer to pay for college. 

Wall Street Job: Chanos, a famed short seller, runs hedge fund Kynikos Associates. 

Source: Yale Alumni Magazine

Marc Lasry drove a UPS truck briefly.

First Job: After college, Lasry drove a UPS truck before being convinced to attend law school. 

Wall Street Career:  He runs distressed-debt hedge fund Avenue Capital. He has an estimated networth of $1.5 billion. 

Source: Bloomberg News

Former Citigroup CEO/Chairman Sandy Weill sold New York City directory books.

First Job: In the mid-1950s, Weill tried selling New York City directory books, but apparently he spent more time playing arcade games instead.  

Wall Street Career: Weill scored his first gig on Wall Street working in the back office of a brokerage firm. During his career, he worked his way to the top of The Street becoming the CEO/Chairman of Citigroup.  

Source: San Francisco Chronicle 

Wells Fargo CEO John Stumpf was a breadmaker at a bakery.

Wells Fargo CEO John Stumpf was a breadmaker at a bakery.

Youtube/ForaTV

First Job: Stumpf made bad grades in high school and graduated in the bottom half of his class. He ended up working as a breakmaker in a Pierz, Minnesota bakery. 

Wall Street Career: He’s the CEO and chairman of Wells Fargo & Co. He’s been at Wells Fargo for over 30 years, according to his bio.

Source: Forbes

Read more: http://www.businessinsider.com/first-jobs-of-wall-street-2013-5#ixzz2qg54USKj

Why ENTJ Personality Types Are Richer Than The Rest Of Us

Why ENTJ Personality Types Are Richer Than The Rest Of Us

Before you read this article, take a look at Myers-Briggs personality chart below or take the test to determine which type you fit into.

http://careerassessmentsite.com/mbti-personality-types-socioeconomic-infographic/ (<–CHART)

http://www.humanmetrics.com/cgi-win/jtypes2.asp  (<—TEST)

Have you ever asked yourself why some people make more money than others?

Since the late 1970s, the gap between rich and poor in the U.S. has been steadily widening. Today, income inequality is an undisputed reality for the vast majority of Americans.

In his 2012 State of the Union address, President Barack Obama described this burning problem as “the defining issue of our time.”

However, he stressed that “if you worked hard, you could do well enough to raise a family, own a home, send your kids to college, and put a little away for retirement”.

But what if you want to achieve more than that? What does it take to become filthy rich?

If you are a rationalist, chances are you are richer than your neighbor

According to the Myers-Briggs Type Indicator (MBTI) — a psychometric questionnaire based on the famous psychologist Carl Jung’s typological theories — there are 16 possible personality types, divided into four categories: artisans, guardians, idealists, and rationalists.

An in-depth infographic I stumbled upon recently from the Career Assessment Site shows that of all of these personality types, a specific type of rationalists — the ENTJ — scores the highest average household income. Idealists, on the other hand, and especially those who fit with the INFP description — in other words, are more affectionate, calm, and shy than others — are less likely to cash in on their traits.

entjCareer Assessment

So, next time you ask yourself why your neighbor drives a Lamborghini while you are stuck with an old Volvo, you’ll know the answer. Apparently, when it comes to your earning potential, your character makes all the difference.

How do ENTJs stay ahead of the game?

In general, rationalists are visionary people, but, at the same time, very practical. If they see a problem, they fix it. ENTJs in particular, are good with money, determinant to the point where they intimidate those around them, and they are always in the driver’s seat. They don’t settle for second best. They aim for the stars. To put it differently, ENTJs are the kind of people most likely to run the show.

Not surprisingly, some of the big names in the business world suit this type, including Bill Gates and investing guru Warren Buffett. The late Steve Jobs was also, according to experts, the epitome of ENTJ personalities.

ENTJs think ahead to the future and approach problems from several different angles.

“Someone’s sitting in the shade today because someone planted a tree a long time ago,” Warren Buffett once observed.

“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks,” he told shareholders back in 1985 when discussing his worst ever investment, the textile mill that gave its name to his financial powerhouse, Berkshire Hathaway.

Moreover, ENTJ personalities don’t deal well with inefficiency and they loathe incompetence. They can be harsh and unforgiving when they realize that someone or something has failed to live up to their expectations.

In the summer of 2008, Apple launched MobileMe, its first real stab at a cloud storage and delivery service. But it got off to a terrible start. It failed to impress users and proved to beone of Apple’s major missteps. Jobs was hopping mad at the MobileMe team. “You’ve tarnished Apple’s reputation,” he yelled at them, and he didn’t think twice before naming a new team leader.

Last but not least, people with this kind of personality can come across as arrogant. They have a very high self-esteem and do not hesitate to be honest and straightforward. However,often their self-confidence turns into arrogance.

In the early 2000s, Bill Gates was at loggerheads with Judge Thomas Jackson, who had announced that Microsoft was an illegal monopoly that had to be split into two. The judge told The New Yorker at the time: “I think he [Bill Gates] has a Napoleonic concept of himself and his company, an arrogance that derives from power and unalloyed success, with no leavening hard experience, no reverses.”

FLOYD MAYWEATHER: How the Highest Paid Athlete Spends his Cash – MUST READ W/ PICTURES

FLOYD MAYWEATHER: How the Highest Paid Athlete Spends his Cash – MUST READ

floyd mayweather jr prepares fight

REUTERS/Las Vegas Sun/Steve Marcus

For all his ridiculous antics, Floyd Mayweather Jr. is one of the most financially successful athletes in the world.

This week he’ll make a record $41.5 million for fighting Canelo Alvarez.

We’d say that Floyd has more money than he can spend … but he is putting that idea to the test by doing some wild things with his cash.

He travels with stacks of hundreds in Ziploc bags, and that’s just the tip of the iceberg.

He has a single bank account with $123 million in it. He’s obsessed with cash.

He travels with Ziploc bags of hundreds, and is known for his crazy shopping sprees.

 

He has two fleets of luxury cars (including a $290,000 Bentley). All his cars at his Miami house are white, and the cars at his Vegas house are black.

He only wears shoes once. He leaves them in hotel rooms for the staff when he’s done.

 

His bodyguards travel on a separate jet because Floyd is afraid of having two much weight in the cabin.

He is known for making insane, seven-figure bets on sporting events.

There was even a rumor that he bet $5.9 million on the Miami Heat in the playoffs.

 

He spends millions on necklaces, and once had $7 million in jewelry stolen from his house.

 

Floyd will earn $90 million this year alone. He’s the highest-paid athlete in the world.

 
 

He’ll earn a record $41.5 million for his upcoming fight against Canelo Alvarez.

The money will keep pouring in. He’s currently one fight into a six-fight, 30-month deal with Showtime that’s rumored to pay him $300 million.

He has an apparel company called The Money Team, but no deals with Nike, Adidas or Reebok.

His entourage also calls itself “The Money Team.”

For all of his wild spending habits, Floyd has a reputation for having a maniacal work ethic.

 

He’s also considered one of the most tactical boxers ever. He is 44-0, and a massive favorite to beat Alvarez and keep the mystique of “Money” Mayweather alive.

http://floydmayweather.com/
http://en.wikipedia.org/wiki/Floyd_Mayweather,_Jr.
http://www.latimes.com/sports/boxing/la-sp-floyd-mayweather-20130913,0,4505982.story#axzz2emWuBzkI

FUCK YOU MARK ZUCKERBERG

FUCK YOU MARK ZUCKERBERG

WHY HAVE YOU MADE SO MUCH MONEY AT SUCH A YOUNG AGE!! AHH!

And your about to make more:

  • Facebook Mobile (where you make 51% of your revenue) increased 51% this year
  • Your stocked surged 30% last night to $33/share

To put things in perspective:

Zuckerberg’s total Facebook shares — 609.5 million as of a filing with the SEC on March 31 — were worth about $16.2 billion on Wednesday. As of Thursday morning, those shares are now worth more than $20 billion.

http://mashable.com/2013/07/25/facebook-stock-ipo-price/