What Is One Billion Pesos Really Worth?
By the October 9 draw, the total jackpot prize for Philippine Charity Sweepstakes Office’s (PCSO) Ultra Lotto 6/58 game would have reached P1 billion, the agency said in a post on its official Facebook account.
This is the record high since Ultra Lotto’s inception in 2015, as well as the largest pot prize ever for all games offered by PCSO.
But just how valuable is P1 billion?
To answer the question, we try to translate the monetary figure in terms of goods that we use in our daily lives such as cups of rice, or luxury items we can only aspire such as Rolex watches. That way, we can begin to appreciate its value more tangibly rather than just in the abstract. (See infographic)
Just in case you’re also curious, the infographic also includes an estimate of how much P1 billion would weigh if it consisted entirely of P1,000-notes.
In 2010, a curious blogger tried weighing peso notes, and wrote the results in a blog, philmoney.blogspot.com. According to the blog, a million Php1,000 notes (which make up a billion pesos) bundled together would weigh about 1,000 kilograms or one metric ton. This is equivalent to 20 sacks of rice.
Pauline Macaraeg is Entreprenuer.com.ph's data journalist. Elyssa Christine Lopez is Entrepreneur.com.ph's staff writer.
*This story originally appeared on Entrepreneur.com.ph
*Minor edits have been made by the Townandcountry.ph editors