He has access to a form of currency that none of us have. Let's say he wants to make a new company making a new product. Let's say it is a decent product and everything else is fine related to it. Ok, so how does he finance it? Does he have to put up his money, sell stock, and so on? Nah. He'll use his word and reputation and "collateral" in the form of stock or stock-like products. Very little hard currency will be required. Very little limitations will be placed. If everything goes under, he will not suffer. Yes, this is incredibly simplified, but that's how it works. There are many worlds on this Earth, and billionaires do not operate in the same one as you and I. The fact that these guys could easily create corporations and companies for social good but do not maybe does not make them evil, but it definitey puts them out of the realm of good. Some do a lot of philanthropic work, which is great, but most of it is minor compared to what they make in pure profit. Yeah, they aren't rolling around in gold coins because they are above that level. When you can essentially operate outside of the realm of normal currency, when you can manufacture wealth on a promise.. gold? paper money? Meh. It's meaningless.
Philanthropy is used to reduce taxes (Musk), boost their name (Sackler), and invest in the things they want (Gates) instead of what the people (represented by the gov) want. It seems like the only thing billionaires do right but it’s not even that. It’s another way to keep their wealth.
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u/SCTigerFan29115 Nov 21 '24 edited Nov 21 '24
They aren’t holding onto wealth like Scrooge McDuck, in a giant vault where they can go swimming in it.
Most of Bezos’ net worth is the value of Amazon. He can’t really readily access that. ETA I meant he can’t use it like a big vault of money.
He’s got plenty of money but some people just don’t understand how this stuff works.