Amazon founder Jeff Bezos is perhaps the poor man’s Elon Musk, however he’s additionally the richest individual on the planet.
According to the Bloomberg billionaire tracker, which is its personal little slice of wealth-worshiping dystopia, Bezos’ web price simply topped $106 billion. The overwhelming majority of his wealth is in Amazon shares, CNN famous, and their worth going up is basically what pushed Bezos approach forward of his foremost competitors on the race to be super-rich—specifically, Microsoft co-founder Bill Gates. Bezos may not be the richest individual ever in historical past, as some headlines acknowledged this week, however he’s positively the richest dude in latest reminiscence.
This is nice for Bezos, a human being with the identical finite power and time in a day to carry out labour as me, however I couldn’t assist however discover this morning after I checked my financial institution stability that I’m not additionally wealthy. What the hell?
Putting apart the truth that I can’t think about what Jeff Bezos really does in a day when it comes to actual work that justifies making $6 billion in 20 minutes, as he famously did in 2016, simply what on this planet does he even do with all that cash? According to CNBC, anyway, Bezos buys homes, personal jets, large clocks (???), and spends it on the same old billionaire stuff like holidays and attempting to construct a spaceship although the nation he resides in already has an underfunded public area program.
Even in any case of those excesses, as this week’s information reminded us, Bezos continues to be price $106 billion USD. I don’t consider that, even when he cashed in all of his Amazon shares, he would be capable to spend that a lot in a lifetime. Even if Bezos leaned in to charity like Bill Gates has—Bezos’ lacklustre philanthropy is notorious—he would nonetheless have billions of . For regular human beings, it’s merely an unfathomably giant sum of cash, and it’s yet one more stark reminder of one thing that economists from throughout the spectrum have been saying for a while now: People like Bezos are getting ever-richer, whereas common individuals aren’t seeing in-kind enhancements to their lives. It’s gotten so unhealthy that in 2017 even a World Economic Forum report urged “reforming market capitalism” earlier than wealth inequality turns into so excessive that the entire system falls aside on the seams.
And the place will all of Bezos’ cash go? Perhaps Amazon will proceed to cannibalize the financial system’s infrastructure (primarily by leeching off of public companies just like the mail), inventory market larks, or possibly Bezos will soar on the cryptocurrency prepare and park his wealth on a digital ledger the place it is going to magically snowball into increasingly more cash. None of that is very productive for society, frankly, and I’ve a a lot better concept:
Jeff Bezos, give me some cash.
Jeff, when you’re studying, hear me out: I’ll use your cash to pay my hire, and purchase groceries, and pay my pals’ hire and grocery payments. We’ll take a while off and placed on a play; we’ll solder some circuits for enjoyable and give you one thing new; we’ll be productive in that basically human approach which you could’t at all times be if you’re not the wealthiest individual on Earth. And received’t it really feel good to contribute to one thing productive like that?
This article sources info from Motherboard