We did the math to calculate exactly how long it would take Salesforce CEO Marc Benioff to earn the $190 million he used to buy Time magazine

Kimberley White/Getty Images

Marc Benioff is buying Time magazine for $190 million.

• Marc Benioff and wife Lynne Benioff announced Sunday that they're buying Time magazine for $190 million.
• The acquisition will cost Benioff around 21% of the estimated $900 million he earned from March 2017 to March 2018, according to our calculations, and only about 4% of his total $4.9 billion net worth.
• It takes Benioff about two and a half months to earn $190 million. It would take someone earning the typical US annual salary every day more than 11 years to earn that same sum.
• Benioff isn't the first billionaire to purchase a media title - Jeff Bezos bought The Washington Post for $250 million in 2013, and Laurene Powell Jobs acquired a majority stake in The Atlantic.

On Sunday, Salesforce CEO and co-founder Marc Benioff and wife Lynne Benioff announced they are buying Time Magazine for $190 million cash as individuals.

This isn't the first time Time magazine finds itself in new hands recently: The move comes not even one year after Meredith Corporation acquired its namesake company, Time Inc., which also houses well-known titles including People, Better Homes and Gardens, and Entertainment Weekly.

Complimentary Tech Event

Transform talent with learning that works

Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

Nearly $200 million is a fortune, but to Benioff, it's not as much as it sounds. According to Forbes, his 2018 net worth is $4.9 billion, nearly $1 billion more than his $4 billion net worth in 2017. That means in just a year, his net worth increased by $900 million, earning him a spot on Forbes' 2017 and 2018 richest people in the world lists.

Broken down, that's:

• $102,740 an hour
• $2.47 million a day
• $17.3 million a week
• $75 million a month

According to the Wall Street Journal, Time, which generated $173 million in revenue in 2017, has an operating profit of $33 million. At $190 million, the Benioffs purchased the nearly century-old magazine for more than five-and-a-half times its operating profit - and around 21% of Benioff's estimated earnings over the past year. At $75 million a month, Benioff's wealth only had to grow for two and a half months to be able to afford the deal.

When you look at Time's purchase price compared to Benioff's total $4.9 billion net worth, it cost him a measly 3.88% of his wealth to acquire the magazine.

To put things in perspective, the median annual US salary in the second quarter of 2018 was $45,552, according to data by the Bureau of Labor Statistics. Benioff makes more than twice that much in an hour.

As noted above, the $190 million Benioff spent on Time is roughly 21% of his earnings last year. For the median US worker, that 21% rate is equivalent to $9,565. A person earning the median annual US salary every day would need 4,171 days, or more than 11 years, just to be able to afford Benioff's Time acquisition.

Benioff may be a billionaire, but these numbers don't even begin to stack up compared to how much other billionaires make in an hour. Other notable billionaires, like Mark Zuckerberg and Jeff Bezos, make Benioff's $102,739 hourly rate look like pennies.

Shayanne Gal/Business Insider

Benioff follows in the footsteps of other billionaires - Jeff Bezos bought The Washington Post for $250 million in 2013, and Laurene Powell Jobs acquired a majority stake in The Atlantic.

The deal is expected to close in 30 days. As of September 17, one day following his acquisition announcement, Benioff's net worth is estimated at $6.6 billion by Forbes.