A Pyramid Worth Millions
When Ponzi received his first investments of $1800 each from 18 parties, he knew exactly how to pay them back in full and on time. Remembering his time at Banco Zarossi, he simply took money from new investors and returned it to his initial investors. Having “proved” that this incredible money-making opportunity worked, Ponzi soon found his business to be very popular indeed.
Profits reached $420,000 by May 1920 – the equivalent of $5.5 million in today’s money. This rose to $2.5 million – equivalent to $33 million – by June. In summer, Ponzi’s daily profits were estimated to be $1 million – equivalent to $13 million a day in 2021. That’s about the same as Microsoft founder Bill Gates earns today!
