Michael Spencer
Source of wealth: Stock exchange
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The scale of their wealth
Health
The price of life
Let's compare Michael Spencer's fortune with the healthcare spending of a massive country
Michael Spencer could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 0.6 years.
But even if we compare their fortune with that of a rich country
On the other end, Michael Spencer 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
Michael Spencer could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 0.4 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 Michael Spencer could pay for it entirely for 0.5 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Michael Spencer could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 2.3 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Michael Spencer 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
Michael Spencer's fortune is equivalent to 9 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.
Michael Spencer could buy 2,469,740 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 0 trucks to transport them. Although Michael Spencer will almost certainly have enough money left over to pay for the gas.
Biography
Spencer founded inter-broker dealer NEX Group (formerly ICAP), which was acquired by CME Group in 2018 for $5.4 billion.
After the half stock, half cash deal, Spencer was granted 3 million shares of CME.
He now owns and runs private IPGL Group, which has more than ?1 billion in assets.
A loyal Tory, Spencer served as the Conservative Party's treasurer from 2006 to 2010.
Spencer was granted peerage by UK Prime Minister Boris Johnson, and now sits in the House of Lords.
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison