Fraction of GDP within the same country makes more sense when talking about how much land someone can purchase or their ability to influence politics. Standard oil was broken up in 1911 which significantly reduced his power but not his nominal wealth. Each of those entities was still generating significant returns.
Fraction of GDP doesn’t translate that well when talking about different countries for obvious reasons but for billionaires global GDP isn’t a bad metric.
Fraction of GDP doesn’t translate that well when talking about different countries for obvious reasons but for billionaires global GDP isn’t a bad metric.