The difference between being wealthy and feeling wealthy may not be linked to a specific amount, but rather to “perception.” As the saying goes, “Contentment is an inexhaustible treasure,” and those who have not amassed a vast fortune according to financial standards may find it difficult to transition from contentment to ostentation. Therefore, it is helpful to listen to the opinions of those who have reached the top or hold the title of billionaires to understand the limits of “wealth.”
Last December, Egyptian businessman Naguib Sawiris explained that a person feels wealthy when they can easily fulfill their desires with their money, such as spending quality time with their children or obtaining treatment when needed.
Sawiris, the largest individual investor in gold in the world, added that the number is not the most important thing, whether it is $100 million or $1 billion, but rather that the money is sufficient to meet all your needs, after which money transforms from a goal to a means.
His younger brother, Samih, has changed his view of money, and explained that the feeling of wealth gradually increases among billionaires, until they reach the conviction that money does not buy everything, a realization he reached after his wealth exceeded $100 million.
On another level, most Americans feel wealthy when their net worth reaches about $2.3 million, but to enhance this feeling, they may need to almost double that number, according to a recent survey by the consulting firm “Charles Schwab.” This figure has increased by 21% compared to 2021 estimates due to inflation.
As for former US President Donald Trump, who was a billionaire before entering politics, he presented a broader definition of wealth, saying: “Part of being a winner is knowing when enough is enough, and sometimes you have to withdraw from a battle to move on to something more productive.”
The philosophy of defining wealth is not fixed, even among billionaires. But Warren Buffett summarized it practically: “If you don’t find a way to make money while you sleep, you will have to work until the end of your life.”
This difference in concepts is not new, as it has been addressed in old books such as “The Richest Man in Babylon,” which carried a lot of wisdom and philosophy, and was passed down to us through a collection of clay tablets.
The author of “The Richest Man in Babylon” conveys the philosophy of wealth concisely, expressing it as a behavior that precedes obtaining money.
“Arkad,” the protagonist of the novel, believed that wealth is the result of a complete lifestyle followed by the wealthy that the poor cannot commit to.
While academics tend to simplify the concept of wealth even further, Ingrid Robeyns from the Stone Center says: “Wealth means the ability to cover your needs and invest. Anything beyond that is considered excessive accumulation.”
Ultimately, the most important thing is to try to adopt the lifestyle of the rich, not after they become rich, but in the way they got there. But you must be careful and pay attention to whom we emulate, as some of them live inside a “bubble.”
