Next generation of billionaires collect more wealth from inheritance than from work, says UBS

Lee Duna@lemmy.nz to World News@lemmy.world – 533 points –
Next generation of billionaires collect more wealth from inheritance than from work, says UBS
theguardian.com
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The problem is that wealth correlates directly with power in the West. You'll never see a Western billionaire get Jack Ma'd, and that's the problem: Western billionaires have less accountability and more rights than the average citizen.

Jack Ma didn't get knocked down because he's rich.

It was because he pissed off the CPC.

Not that I want to defend any mega-rich person, but he seemed to be using the influence that his wealth allowed him to speak out against actual oppressors.

There are no good billionaires. Only people who bypass regulations and cause immense suffering can get there. Idk why y'all are so mad about China getting rid of one lol

The world ain't binary.

Even among shitty billionaires there is a range of more and less bad.

You're saying that like it's a unique problem to the West. Do you think Asian billionaires don't have extra rights and latitude?