John W. Simpson (lawyer)
Encyclopedia
John Woodruff Simpson was a founding member of law firm Simpson Thacher & Bartlett LLP, then titled Simpson, Thacher, & Barnum.
appraised in 1922 at $2,665,894. His widow, Kate Seney, died in 1943.
Using several methods of computing the relative value of a U.S. dollar to the amount of his estate at the time of his death:
Biography
He died May 16, 1920 leaving an estateEstate (law)
An estate is the net worth of a person at any point in time. It is the sum of a person's assets - legal rights, interests and entitlements to property of any kind - less all liabilities at that time. The issue is of special legal significance on a question of bankruptcy and death of the person...
appraised in 1922 at $2,665,894. His widow, Kate Seney, died in 1943.
Using several methods of computing the relative value of a U.S. dollar to the amount of his estate at the time of his death:
| Value of estate in the 2007 Dollar | Method Used |
| $32,960,750.97 | Consumer Price Index Consumer price index A consumer price index measures changes in the price level of consumer goods and services purchased by households. The CPI, in the United States is defined by the Bureau of Labor Statistics as "a measure of the average change over time in the prices paid by urban consumers for a market basket of... |
| $27,294,202.19 | GDP Deflator GDP deflator In economics, the GDP deflator is a measure of the level of prices of all new, domestically produced, final goods and services in an economy... |
| $183,091,250.35 | Nominal GDP per Capita Gross domestic product Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living.... |