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[-] Voroxpete@sh.itjust.works 1 points 2 hours ago

A single billion, when put in terms of money, is enough that - simply invested in GICs and bonds, earning a very, very conservative 1% interest - it would earn you ten million dollars a year in interest alone.

I would challenge you to even come up with a reasonable way to spend ten million dollars a year. By my back of the napkin math you could vacation every single day, living in hotels and eating at fancy restaurants, and still not make a dent in that.

Musk has an estimated net worth of $247 billion. You could fine him 99% of his current wealth, and he would still struggle to spend enough that he wouldn't end up increasing his remaining wealth every year.

[-] blind3rdeye@lemm.ee 1 points 35 minutes ago

And this is why it is ludicrous to believe that ultra-rich people earn their fortune with hard work or good ideas. Being rich generates its own money. Being poor is expensive. There should be no billionaires, for any reason. Such concentrated wealth is very bad.

this post was submitted on 17 Oct 2024
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