World’s five richest men double their money as poorest get poorer

floofloof@lemmy.ca to News@lemmy.world – 344 points –
World’s five richest men double their money as poorest get poorer
theguardian.com
29

How about we stop calling it their fucking money. It's inconceivable that someone can look at what has got to be at least 50% of all wealth ever made by humankind and say, "this is mine and just mine". That isn't what sane rational people think

Having that amount of money makes you lose all rational thinking my dude.

How many more years of these news stories do I have to read before we actually do something about this?

I'm so fucking sick of this happening constantly.

We have to stop voting for rich or wanna-be-rich business people. It's the only way. Combined votes for the best of the worst to eliminate the tyrants, then vote out the wealth focused. Can't believe that's the situation we are in.

Voting alone will not get us out of this situation. Maybe implementing rank choice of voting might do it. I just don't see good solutions because the politicians were all about sold anyway it doesn't matter which one gets voted in, voters never get the final say.

Wait Musk is still such a strong first place? I thought with twitter bombing, people starting to dislike Tesla, general weird behavior, he was losing quite a bit? I'm probably way out of touch but isn't someone catching uo to him?

Tesla shares constitute something like 70% of Elon's total fortune. Twitter is overall not that relevant for his big picture wealth, and weird behavior even less so.

At the moment Tesla's stock price is in decline because of competition from China and the overall EV market not growing as fast, so Bezos or somebody else could indeed overtake Musk in the near term. But this could easily change again next month, the stock market is fickle.

It so cool that you can buy your way into an existing company that already had talent and an idea, and then become among the richest people in the world...

Wait sorry, Hard Work™©® yeah... That's what he did... Hard Work...

Oh there was hard work involved. His daddy's emerald mine money worked very hard to get him where he is. And the slaves in those mines worked very hard to build daddy's money.

4 more...

Rich assets grow exponentially. They will exceed government budgets if they haven't yet. Then, they will have far bigger budget than governments.

Maybe the world will all become North Korea.

Just capitalism working as intended, nothing to see here, please keep walking.

Well, when the TSHTF they’ll die just like the rest of us trapped on the globe, cooked and starving thanks to the climate.

This is such a good visualization of big numbers and big bank accounts.

It's also a good way to really see the bull shit argument that it's unfair to tax the wealthy at a higher rate. Even if they get taxed at 90% (which I don't think will happen in my lifetime) they still will have enough money for them and their decedents to live a lavish lifestyle. And that extra money could really make America into the country that it pretends to be.

Also, the "taxed at 90%" is a red herring too, since that's not how progressive tax brackets work. Nobody's effective tax rate would be close to 90%, even if we raised the top marginal rate to nearly 100%.

You guys ready to eat em yet?

Yes, but I wouldn't eat a rich person. All the chemicals and drugs in the meat. Gross. We need to just cull the rich.