Millionaires - myths and legends

An article by Carol Bradley in the Georgian Journal lists seven myths about millionaires:

1. Millionaires don’t pay their taxes: Millionaires in America in the top 1% of earners pay 40% of all taxes.

2. Millionaires inherit their money: Only 20% of millionaires inherit their wealth.

3. Millionaires feel rich: Most millionaires worry about retirement, college funds for their children, and the mortgage, just like everyone else does.

4. Millionaires have high-paying jobs: Half of all millionaires are self-employed or own a business; 80% have a college degree and 18% have a master’s degree.

5. Millionaires all drive fancy cars: Most millionaires drive a Ford; second preference is a Cadillac; and third preference is a Lincoln.

6. Millionaires play golf all day: Only 20% of millionaires are retirees with 80% still working.

7. Millionaires are elitist: Millionaires are just regular people.

Beating all sporting ultra millionaires in all of history is not a golfer, footballer or basketball player. Peter Struck, associate professor of classical studies at the University of Pennsylvania says the highest paid athlete of all time was a Roman charioteer named Gaius Appuleius Diocles. He earned 35,863,120 sesterces in prize money, the equivalent in today’s terms of USD $15 billion.

Diocles was born in Lusitania which is now Portugal and south-west Spain and commenced his career in 122AD at the age of 18. He won his first race at the age of 20 with the Whites, his affiliated team supported by Roman businesses that paid for the upkeep of the horses, chariots, helmets, whips and other equipment. At the age of 24 he moved to the Greens team, but had most success with the Reds with whom he remained until the end of his charioteering career at the age of 42 years, 7 months, and 23 days – a great age for a charioteer.

Diocles won 1,462 of his 4,257 races (a third of every time he raced), and finished second 815 times. Pompeius Musclosus won more times than Diocles, although Diocles pocketed the greatest prize money.

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