“$500,000 a year (in today’s dollars) for 7 years does not get you into the top 1%. Top 10%, yes but not that next level.”
Five hundred thousand in 1951 dollars is worth about 5.6 million today and times 7 if that is what you are saying gets him to almost 39 million in todays dollars.
As of 2020 to be in the top 1% in USA you need to have a net worth of just over 11 million dollars.
I already adjusted for inflation. The amount in 1951 dollars was $50,000 not $500,000. I also used 1952 as the starting point year for inflation.