It’s called compounding interests and it’s not just for the rich. You can take advantage of it too. I sure do.
We broke our economic system a while ago. Citizen United really help drive that home. The part I find so funny is the people I know complaining about taxes and never getting anything from the government.
Yet the very same individuals don’t make a peep about the ridiculous amounts of money our society funnels to the wealthiest. Some kid getting a school meal for free? No no we can’t have that. Billionaires able to buy social media companies and make them shittier? Why just go right ahead. Multiple private space companies? Perfectly fine. How about maybe some college for the people? No dice nerds that’d cost too much money!
Stocks double roughly every decade so this isn’t surprising at all.
I just fucking hate them all so much.
A question I have is once you are a billionaire, why do you need more money?
What is there left that you can’t buy?
Elon Musk bought a president
Billion dollars grows by 70 million passively per year. Next year you have 1,070,000,000 which grows by 74.9 million and next year by 80 million and so on. Basically the more money you have the easier it is to make more money.
Also, a billionaire doesn’t have billion dollars in the bank. That’s not what being a billionaire means.
The personality required to “earn” a billion dollars off the backs of your working employees is exactly why it will never be enough for them. Have enough money that all your grandchildren’s entire lives are paid for? Then it’s now about control. Who can you influence and how much of your shitty mentality can you project onto others?
It’s a dick measuring competition with their buddies at that point, at the expense of the rest of us.
Not necessarily true. More money at that level isn’t about more material possessions or even more services: it’s about more power and influence. It’s playing toward oligarchy.
I didn’t say anything about possessions and purchasing power, the competition in that echelon is about who has more ability to bend the world around them, thus the dick measuring comment.
A city on Mars? I’m pretty sure that’s what Elon is trying to buy, he’s paying several billion dollars to work on it.
It’s an addiction, plain and simple. If the number isn’t going up, they’re not happy.
People who want money for specific things and will eventually be satisfied stop long before reaching billionaire status.
What is there left that you can’t buy?
Politicians are cheap, but getting the President of the USA to let you have all the power of the US President is pretty expensive.
Unless you’re Putin. But Musk managed to do it without being Putin.
It’s not about buying things, it’s about winning the game and staving off boredom and existential dread.
We need more people like Luigi to add excitement back into their lives!
Because you have to win the billionaire game.
Rule of 72
we need a green plumber.
Seems like I remember seeing this headline a decade ago.
the made up number that is the value of their stock went up, oh noes
That made up number allows them to bend the ear of world leaders, to doom millions of people to poverty-related death, to take a joy-ride to space while their employees piss in bottles out of fear of losing their pitiful income.
You can try and diminish their wealth, but made up or not, those numbers are fucking the rest of us straight into hell.
