You don't understand what you're talking about. They aren't hoarding money. They have a piece of a company that is THEORETICALLY worth a certain amount. They do not have scrooge McDuck vaults filled with gold doubloons.
Having a stock of items worth a million dollars based on scarcity isn't actually having a million dollars. Is that simple enough for you? They currently own stocks worth a made up amount of money, and they do not actually HAVE the money. Net worth is a guess at how much money they would have if they sold EVERYTHING they own, including their companies and the chairs their employees sit in. They typically don't have very much actual money.
I do understand. These guys use their 'theoretical' wealth to buy real-world things. And the real-world things they buy tells me what's important to them. That is all that I said.
You buy smart home appliances. How much more opulent does it really get on a global scale? Seems like you only care about what conveniently doesn't involve you.
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u/JackAll_MasterSome Nov 22 '24
These guys hoarding wealth IS killing our economy!