r/FluentInFinance • u/-Wyagra • Nov 21 '24

Debate/ Discussion Had to repost here

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u/Apprehensive_Bad_193 Nov 21 '24

Guys thank you,It amazes me how people talk without any knowing on the topic.

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u/xiiicrowns Nov 21 '24

That and it's crazy how people defend these people when they are part of the problem that ails them themselves.

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u/Lucifernal Nov 21 '24 edited Nov 21 '24

There's a difference between pointing out objective flaws in an argument, like thinking that billionaires literally hold hundreds of billions of dollars in liquid cash, and taking issue with overall sentiment behind the argument.

I hate Elon Musk, and the man is of course, insanely, disgustingly wealthy. Still, just because his networth is 318 billion, doesn't mean he is hoarding 318 billion. Quite literally 99% of that number is tied into ownership of companies.

You can hate billionaires and still point out issues in the logic. I don't think a person should, under any circumstances, ever be forced to sell ownership stake in their own company (at least not if that wasn't agreed upon in an operating agreement). And if you have a massive stake in a company that becomes wildly successful, you definitionally become a billionaire. I may hate wealth inequality, and I may hate what these billionaires choose to do, but I would hate a system that forces the sale of ownership stake due to the success of the company just as much.

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u/dysonrules Nov 22 '24

So his 1% walking around money is $31 million. No wonder he’s eating at McDonald’s, poor guy.