Intimations of Mortality
Good morning, Live Better than a Billionaire-a-Holics!
Are you feeling motivated this morning? I hope so.
I'm going to look at a somber subject today . . . for some.
Does being a billionaire expand your life span? I don't know the answer, but I was struck by the question when I heard the news reports that fabulously wealthy heir, John Walton, second son of Wal-Mart founder Sam Walton, died on Monday.
John Walton was a billionaire, thanks to the Wal-Mart stock he had inherited from his parents. While only 58, his net worth was estimated by Forbes Magazine at $18.2 billion in March 2005.
Mr. Walton had been on Wal-Mart's board since 1992 but had never worked for the company.
Throughout his life, Mr. Walton had been involved in a variety of businesses, including crop dusting in the 1970s and boat building in the following two decades, according to the Reuters story that I read.
As a young man, he had bravely served as a medic in the Vietnam War, earning a Silver Star for saving a number of lives while under fire.
Did he die of a heart attack? No, he died in a plane crash. You may be imagining that his private jet was hit by hail stones during take off or landing . . . or that he was caught in a severe downdraft while landing . . . or that the cabin's pressurization failed as occurred with Payne Stewart.
No, he died much like John Denver did. His ultralight plane which he was piloting crashed shortly after takeoff from the Jackson Hole airport. The pictures of what remained of the aircraft looked more like a modern sculpture than an aircraft in the AP photo I saw.
Mr. Walton was an experienced pilot, and there was no immediate cause identified for the crash.
The plane, however, was an experimental, home-made model.
My first thought upon reading that information was that a person who wasn't wealthy might have avoided this kind of death . . . simply because she or he couldn't have afforded the time and money to make an experimental aircraft. But some might have done so any way . . . just for love of flight.
But clearly a billionaire is more likely to take up risky pursuits. The billionaire feels fewer constraints. Some insurance companies won't even sell you life insurance if you pilot small planes. Try telling your spouse that you cannot get life insurance when the family wants life insurance, and that will be the end of many small plane flight careers.
Although I'm no expert on ultralight aircraft, a pilot friend has told me that they are very vulnerable in the in the high mountains like the Grand Tetons, near where the accident occurred. The wind currents can quickly tear their fragile bodies apart. Yet mountainous areas are a favored locale for flying such aircraft because the experience is more delightful there due to the views.
A billionaire is further likely to be attracted to extreme challenges and pleasures. Why? Well, life must seem mundane to someone who doesn't need to earn a living and prove themselves in that way. Heirs must be particularly prone to seeking other ways to establish their credibility. Perhaps challenging flying can serve that purpose. I don't know enough about Mr. Walton to speculate, but I do know a number of heirs who pilot small planes . . . and have walked away from many crashes. I don't know any people who aren't heirs who have had this experience.
Of course, some billionaires are less at risk in this way. Their age is so advanced that it's hard for them to get around . . . much less pursue dangerous activities.
But perhaps . . . just perhaps . . . those of us who aren't billionaires will also live longer lives simply because we will find the day-to-day challenges of living better than a billionaire on five dollars extra a day to be quite enough for us. Perhaps that is part of God's blessing to us.
Donald W. Mitchell, Your Dream Concierge
Copyright 2005 Donald W. Mitchell
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posted by Donald Mitchell @ 7:45 AM
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