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Why are folks so anti-capitalist?
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this post was submitted on 20 Jul 2023
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Asklemmy
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I'm no economist, but is that 70% of wealth money or net worth? If you own a company but live at an average standard, that company is still part of your net worth, even though it's not being wasted on luxury.
Jeff Bezos, for example, has a net worth of $158 billion. He owns about 10% of Amazon, which comes out to $133 billion. That means 84% of his wealth is just Amazon itself. The remaining $25 billion is still huge, of course. I'm not denying that. But if every other billionaire is in a similar layout (which I suspect they are,) then having them live at an average standard is not going to cut our work down to 30%.