Jim McKelvey
Source of wealth: Mobile payments
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The scale of their wealth
Health
The price of life
Let's compare Jim McKelvey's fortune with the healthcare spending of a massive country
Jim McKelvey could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 0.8 years.
But even if we compare their fortune with that of a rich country
On the other end, Jim McKelvey could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 0.3 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Jim McKelvey could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 0.5 years.
And yes, we can also compare it with a rich country
But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Jim McKelvey could pay for it entirely for 0.7 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Jim McKelvey could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 2.9 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Jim McKelvey with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.1 years.
Gold
Everyday luxuries
Jim McKelvey's fortune is equivalent to 12 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.
A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.
Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.
Jim McKelvey could buy 3,143,522 gold rings. That's a lot of fingers and way too many gifts!!
And if you're struggling to visualize that many rings, it would take 1 trucks to transport them. Although Jim McKelvey will almost certainly have enough money left over to pay for the gas.
Biography
Jim McKelvey cofounded payments firm Square with Jack Dorsey in 2009 after he had trouble selling a $2,000 art piece from his studio; the company was renamed Block in 2021.
McKelvey remains on Block's board He started a new company, Invisibly, which powers micropayments for journalism and publishing.
He owns nearly 5% of Block stock and has netted at least $270 million from selling Block shares over the years.
A serial entrepreneur, he has started at least seven companies, ranging from a CD cabinet maker to a glass-blowing studio.
He also sits on the board of the Federal Reserve Bank of St. Louis and started a nonprofit, LaunchCode, to teach people how to program.
In March 2020, he released "The Innovation Stack," a book detailing Square's battle with Amazon to create a better payments system.
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison