This Is The Richest Person In South Carolina And How Those Billions Were Made
When I think of billionaires, Taylor Swift pops to mind. Seems like that kind of money is made by famous entertainers or maybe tech inventors. But not so. This is…
They Educate Themselves on Money
Getty Images / SIphotographyWhen I think of billionaires, Taylor Swift pops to mind. Seems like that kind of money is made by famous entertainers or maybe tech inventors. But not so. This is the richest person in South Carolina. And just exactly how were those billions made. Well, here is who and how.
This Is The Richest Person In South Carolina
According to thestate.com, Forbes has released their annual list of the richest Americans. And there are a lot of them. You will find a billionaire in 47 of our 50 states. Combined, these 54 people have a collective bank account of 1.6 trillion dollars. That's trillion with a t. That is a big jump from last year's total. Forbes says that is a $100 billion increase over last year.
Forbes adds this about the rich folks according to our source, thestate.com,“Six other states also saw their wealthiest person change over the past year, as some of the richest Americans decided to move their primary residence,”, For example Jeff Bezos stated that he would be moving back to Florida back in November so that he could be closer to his parents. That means Bill Gates can now claim richest person status in Washington.
He Lives In Charleston, South Carolina
But what about the Palmetto State? Here is the richest person in South Carolina. That would be a 60 year old man named Robert Faith. Faith lives in Charleston with his reported $5.8 billion dollars. He reportedly made 5.2 billion last year. So, how did he make all that money?
Here's How He Made ALL That Money
Faith reportedly started out as a real estate developer. He studied petroleum energy at the University of Oklahoma and got his Masters in business administration from Harvard. So, it sounds like Robert is a smart ambitious guy that has worked hard to get where he is in life and has made some good business decisions.
Eifel Kreutz/Getty Images Royalty FreeForbes says a fella named James Goodnight is the richest person in North Carolina. He reportedly is "worth" 10.1 billion. To learn more about the richest people in each state, get all the details from our source right here.
Here’s How Much Money It Takes To Live Comfortably In The 5 Major North Carolina Cities
It's hard to not be stressed or depressed about money these days. Prices have skyrocketed and I often joke that the value of everything seems to have gone up- except me. But goods and services don't tell the entire pictures when it comes to cost of living. So how much money does it take to live comfortably in each of the major cities? A lot. The financial experts at Smart Asset recently conducted a study about the salary needed to live comfortably in cities across the country.
How Much Money It Takes To Live Comfortably
Smart Asset recommends a budget they describe as the 50/30/20 budge. This means that 50% of your salary should go to to needs. They include costs such as housing, transportation, and groceries in this category. The 30% is allocated to entertainment and hobbies. While the final 20% should be used to pay off debt, or if you're lucky enough to be debt free saving or investing.
So to conduct this study they took the "local cost of necessities and taxes" and factored it into the 50/30/20 budget to determine the "pre-tax salary needed to live comfortably" in the 99 largest U.S. cities. They found that $96,500 is the amount needed for an individual to live comfortably in a major U.S. city. 5 North Carolina cities were included in this study. The five largest in the state- Charlotte, Raleigh, Greensboro, Durham, and Winston-Salem. When it comes to the amount of money it takes to live comfortably in North Carolina cities, only two were less than average. I thought the south was supposed to be cheaper!
These days it truly feels like most people are living paycheck to paycheck or at least not able to save significant money. Even though when it comes to salary people are making higher than they have before that money doesn't go near as far as it did even a few years ago. Keep reading to see how much money it takes to live comfortably in each of the 5 largest North Carolina cities. Don't say I didn't warn you though, it may sting a little!
Read the full study from Smart Asset here.
Winston- Salem
According to this data the most affordable North Carolina major city to live in is Winston-Salem. This Triad city is the fifth most populous in the state. It features a vibrant downtown, historic sites including Old Salem, and lot's of character and charm. It's the home of Wake Forest University, and provides easy access to other areas of the state as well.
Hourly Wage Needed For A Single Adult: $39.36
Salary Needed For A Single Adult: $81,869
Total Salary Needed For Two Working Adults And Two Children: $194,605
Greensboro
Staying in the same area the next city on this list is Greensboro. It's slightly more expensive than Winston and located in Guilford County. Greensboro is the third most populous city in the state.
Hourly Wage Needed For A Single Adult: $41.88
Salary Needed For A Single Adult: $87,110
Total Salary Needed For Two Working Adults And Two Children: $203,674
Durham
We now move to the Triangle. The third most expensive city to live in is Durham. The city offers lots of great jobs in tech and is home to Duke University. Downtown Durham has lots to offer from breweries and restaurants, to sports, arts, and entertainment.
Hourly Wage Needed For A Single Adult: $47.62
Salary Needed For A Single Adult: $99,050
Total Salary Needed For Two Working Adults And Two Children: $233,043
Charlotte
No Charlotte doesn't require the largest salary much to my surprise. The largest city in the state is the 2nd most expensive. And that hourly wage? I don't know many people making that.
Hourly Wage Needed For A Single Adult: $48.72
Salary Needed For A Single Adult: $101,338
Total Salary Needed For Two Working Adults And Two Children: $235,123
Raleigh
Which means the city where it takes the highest amount of money to live comfortably? The state capitol of Raleigh. Though it was a close race and fair to say the cost of living is fairly comparable between Charlotte and Raleigh. But hey if they want to win this one I'm ok with it since it impacts my bank account!
Hourly Wage Needed For A Single Adult: $49.40
Salary Needed For A Single Adult: $102,752
Total Salary Needed For Two Working Adults And Two Children: $235,872
