Money & Power

What Is One Billion Pesos Really Worth?

As the Ultra Lotto 6/58 prize surges to more than a billion pesos, here are ways to come to grips with its tangible value.
IMAGE NATHAN DUMALO/ UNSPLASH
Comments

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

Comments
Recommended Videos
About The Author
Pauline Macaraeg for Entrepreneur.com.ph
View Other Articles From Pauline
About The Author
Elyssa Christine Lopez for Entrepreneur.com.ph
View Other Articles From Elyssa Christine Lopez for Entrepreneur.com.ph
Comments
Latest Stories
 
Share
We revisit the remarkable journey of the country’s leading pizza chain.
 
Share
Grace Kelly's great-grandchildren were quite a presence on the Palace balcony.
 
Share
The wife of Napoleon III was ultimately exiled to England, but at least she had a pair of 19th-century natural pearl earrings.
 
Share
And which day should you book to score the best deals?
 
Share
Preparing for holiday potlucks just got a little easier.
 
Share
From Fleabag's Olivia Colman to Harry Potter's Helena Bonham Carter, here are the new faces in the Netflix royal drama.
 
Share
 
Share
 
Share
The celebrated photographer made headlines throughout his life for his royal connections and scandalous behavior.
Load More Articles
CONNECT WITH US