Also note that those “charities” are just slush funds for their friends and is just a tool to reduce their tax liability. They need to remove remove the tax write off for charitable donations and just give more money to social programs.
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What are you even going to do with a billion dollars? I can't even think of what I will do with a million dollars other than buying a comfy home for my family instead of living in a small congested apartment.
Start a space program.
A million is easy to think about and honestly disappears pretty quickly compared to a billion. Between student debt, medical bills, private debt of various types, I'd eat up 100K in an afternoon alone. Then buying house somewhere else I'd like to live would take a huge chunk out of that. I'd have a much better setup than I do now but it'd be gone within a few years.
What are you even going to do with a billion dollars?
Compensate for your insecurities
Actually a billion is very hard to spend if the rule is for personal use. You can do it by buying super yacht or private jet but other than that, there's nothing much you can do with that amount of money if you're a decent person.
But for altruism purpose, i can think of many, many stuff.
come on, you can think of something .
you could create a whole humanitarian organisation. have well funded teams dedicated to improving the communities of your choice
a million just gets you a cozy home in a decent neighbourhood. Now you pooped out all your funds and need more to cover maintenance
Well, it's not money, it's assets.
If you have a house, car, etc, that collectively cost 1mil, you're worth 1mil.
What you could do with the extra money you have is putting it into assets that generate cash flow. Stocks, bonds, indexes, businesses. If you can manage it well enough, it could secure you a lifestyle where you can ditch your job without being strapped for cash.
That's basically what the rich do, except on a MUCH larger scale, where the cash flow generated is enough literally throw money around.
And Jeff has given away $0. That guy is truly the scum of the earth.
he married a reptile queen to, he married a plastic doll that likely wont challenge or sue him like mackenzie woud. and his networth is like 300bn right now. up from 70bn before the pandemic.
she also refused to be named on any buildings after her, its only way to know you are genuine. unlike zuckerberg who donated to SFGH, TO name it after himself.
Financial obesity is an existential threat to any society that tolerates it, and needs to cease being celebrated, rewarded, and positioned as an aspirational goal.
Corporations are the only ‘persons’ which should be subjected to capital punishment, but billionaires should be euthanised through taxation.
Financial obesity, love that term
May I ask why? To me it's just a more fatphobic way of saying "absurdly rich people".
Obesity is a perfectly valid technical term.
While medical obesity is typically outside the control of those affected, perpetuating financial obesity is absolutely within the control and responsibility of the morbidly wealthy.
It's not that "obesity" itself is fat-phobic, is the need to refer to weight when talking about something completely unrelated to make it sound more evil. I could think of the word "gluttony" to better refer to this, for example
MacKenzie Scott actually helped found Amazon, she married Bezos before Amazon even existed and literally worked on it with him from the very beginning. The whole idea that she married into wealth or "got it from the divorce" reeks of sexism.
She's also rapidly giving away her money with no strings attached, and she's supporting underserved communities all over the US. The HBCU in my city got a massive grant from her that's totally transformed what it will be capable of, for example. I just don't get why you're choosing this person to rag on out of all the truly vile billionaires out there
I don't see it as ragging on her. I think she is being used as an example as she has given away more in proportion to her total wealth than most other billionaires yet is now worth more than ever. The point I believe this meme is making is billionaires will still continue to be obscenely rich even if they are heavily taxed.
I see it as pointing out that even after giving away around 2/3rds of her wealth, the remaining third managed to generate more than what was given away.
In other words, an example of the axiom that you need money in order to make money, and if you have an obscene amount like $10 billion , it can double itself easily without any real effort on your part required
I respect her contributions and philanthropy. I just don’t think essential social support should depend on the generosity of billionaires instead of stable public systems.
No argument here
No human needs a billion dollars. It's an utterly obscene amount of money and just because you give away $26 billion does not mean that the remaining 10 billion is an acceptable amount to keep.
A million seconds is 11 days or so. A billion seconds is 31 YEARS.
just to put it in perspective of how big a billion truly is
I don't disagree, but my points still stand
Right, what's up with Jeff Bozos's eyes?
He's got ptosis, iirc he said he didn't like the risk/reward of surgery in the area.
Such a small fraction of their net worth would change my life that it’s equivalent to pennies you might find in your sofa. Like not even millions or hundreds of thousands, but a thousand. A thousand would be life changing to me right now, and that’s .0001 of their worth.
Nobody should have that kind of money. Slay the dragons.
Nice link, that part where your scrolling while seeing the billions going up takes like forever.
I clicked the url because you read your comment saying if they gave you $1,000 that would be 0,0001% of their wealth but that would be only true if their wealth was exactly one million. But we're talking about billionaire, and if a billionaire would give you $1000 he'd give you 0,0000001% of their wealth. If they have 10 billion it would be 0,00000001% and if they have 100 billion it would be 0,000000001%. According to Forbes there are over 20 individuals with that kind of money. (https://www.forbes.com/real-time-billionaires/)
Every fact I scrolled past and read on that made me more depressed while slowly raising my blood pressure.
Throw the rich in a ditch.
It gets annoying and boring to scroll. But that’s the whole point. Keep scrolling and it gets so much worse.
People have a hard time conceptualizing really big numbers, and a billion is a really big number. If you put $1B into a fixed rate investment earning 5% annually, you'd be getting $50M a year just from that. Most investments in the market do much better than that. So if she kept just (just!) $10B of what she got, she could easily be getting back well over $500M without doing anything at all. Every year, forever. If she doesn't spend or give away that much, then what she gets back grows.
The difference between 1 million and 1 billion is about 1 billion.
$1M in $100 bills weighs 10 kilos. $1B in $100 bills weighs 10,000 kilos.
Yes, one thousand times one million is one billion.
Er...hmmm... freedom units plz!!
Like, 2 elephants, one asteroid, and 16 1998 cloth top convertible Miatas
If you had $500k, you could buy an average house in my area. If you had $1M, you could buy two. If you had $1B, you could buy 2000 i.e. the entire neighborhood.
What about having $1bil and giving away $1mil is like having $1k and giving away a $1.
To imagine the huge difference between a billion and a million I always liked the example - a million seconds is roughly 11.7 days, a billion seconds is around 31.7 YEARS.
To imagine the huge difference between a billion and a million I always liked the example - a million seconds is roughly 11.7 days, a billion seconds is around 31.7 YEARS.
You are not 30 yet or you would know that there is almost no difference.
You are not 30 yet or you would know that there is almost no difference
I'm 35 but this aged me another 20. But not as bad as when I realized that the 70s are closer to my date of birth than the present day is.
I prefer the "having 10,000$ is one step on the stairs" image.
Most people will never be on the first step, apart from people in industrialized countries and even then, not everyone.
A millionaire will be about 100 steps up, or about 4 floors. Ah ha! Look at you all small down there from my 4th floor vantage point!
Then a billionaire, in that same analogy, is 100,000 steps up, or 11 miles, somewhere in the fucking stratosphere. Think they can see the difference between you and the millionaire from up there?
Musk, at 680,000,000,000$? He's passed the fucking ISS, 750 miles from the Earth, basically wealth stops having any kind of meaning or human scale.
And she’s actively trying to give it all away and she’s doing it faster than other “philanthropists.” She didn’t start a foundation which will hoard most of it and give a tiny (legal minimum) away each year but is instead makimg direct gifts. She also isn’t giving small gifts to small organizations to help them grow, she’s making big gifts to big orgs that can handle the money.
And despite all of this is continues to grow too rapidly.
most of them use it to launder money/hiding thier taxes anyways. GATES is a likely example, he was only doing ti to deflect attention away from being involved with epstein. I knew there was wierd vibes coming from him. he did an AMA a while back about his charity, they dint allow money launder/tax avoidance to be discussed.