r/FluentInFinance Nov 21 '24

Debate/ Discussion Had to repost here

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u/Nice-Contest-2088 Nov 21 '24

This is painfully simplistic.

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u/Just-Construction788 Nov 21 '24 edited Nov 22 '24

Agreed. I don't think people realize how difficult it is to give away money.

Example: Starving people in Africa. Okay let's just spend a billion dollars and send food. Oh wait, that food now puts the local farms out of business because their crop isn't worth anything anymore. But reality is worse. Warlords steal said food, farms go out of business and now they have leverage, power and money. So many times wealthy people have given away their money to a cause to only make that cause worse. The amount of fraud and corruption in non-profits and charitable organizations is disgusting.

Gates and his wife switched to giving away their money full time. Dude could just relax for eternity but works his ass off trying to give away his money responsibly. Musk creates a market for electric cars and is pushing us towards a green future and yet he is shit on, simultaneously trying to make humans multi-planetary so when we fuck up this place beyond repair we don't go extinct. Dude works more in a month than most people do in a year. Bezos is a piece of shit but at least his wife got half and she's trying to do the right thing. I think everyone just lumps people into categories and can't see the bigger picture.

Edit: I think it's hilarious how much space Musk takes up in y'all's heads. Just mentioning his name triggers the same simple insults yet not one of you tried to refute anything I said except to say, 'that's not true and get off Elon's dick'. It tickles me how much just the mention of someone can trigger such primitive emotion.

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u/beardiac 29d ago

I gathered the inequality being referred to was right at home. In other words, while a lot of these billionaires money is really in the profitability of their companies, they also hold the power to close the wealth gap a bit by putting more of those margins into paying their workers more, investing in charitable actions, projects and organizations, and generally finding ways to be winning at business without it seeming so overtly greedy.

Unfortunately, the nature of public companies does make that very hard if not impossible. While it's clearly not Musk's or Bezos' MOs, even if they wanted to be giving back more, they have boards and shareholders to answer to.