We don't need more billionaires..

[Prince patrick]

Permit me to say this. The most dangerous threat to the world economy isn't war, not poverty, not corruption. It's the billionaires. The world had enough money, but ten men hold it. Listen to this, the ten richest men in the world, have more money than 3 billion people combined. Elon musk, Bezos, Dangote, Zuckerberg, they all can end world hunger with 6% of their wealth, but they won't. Because they won't gain from it. They are only interested in profitable things like buying twitter now called X buying yachts, go to space to have fun, while children in India, Africa and even America sleep hungry. That is not economy, that is wickedness.

They tell us billionaires create employment". Lies! Amazon killed 100 thousand small shops. One man jeff Bezos closed shops of millions of families. Uber killed taxi drivers, Ai billionaires are now firing workers and replacing them with robots. They don't create jobs, they packaged poverty and call it innovation.

Every billionaire product is built on cheap labour. Who make iPhone ? Poor Chinese boy in the factory who earns $2 per day. who makes Nike shoes? Poor Vietnamese girl who cannot afford the shoe. Who drives profit for Tesla? Workers who can't afford Tesla. The billionaires at the top collects one billion, the workers at the button can't even pay rent. That is modern slavery.

A market woman pays tax on every bottle and sachet water she sells, but Amazon, Google, Apple Dodge billions in tax. They hide money in cayman island. The poor tax, the rich Dodge tax, and then the government borrows more money and tells the poor to pay more tax, world economy is upside down.

Imagine we take just half or billionaires wealth and put it into free schools, hospitals, factories and farms. Poverty will end in five years. But we worship them. We clap for them on Forbes list while we suffer.

The world does not have a poverty problem, the world has a greed problem, we don't need more billionaires, we need fewer, some has 2 hundred billion while some is drinking dirty water.

[Antidote47k]

Your concerns are legitimate, wealth is certainly concentrated in the hands of a few, it’s an unbalanced system but that’s usually how capitalism works, it’s usually framed as an equal opportunity system but it’s not if we’re being honest. One thing I would be cautious about is assuming that the spending capacity of billionaires is equivalent to their net-worth, most of the time these figures are inflated and they are not really worth that much in reality, most of their wealth are held in company shares and not cash sitting in the bank, if the stock goes down, so does the wealth so basically it’s tied to how well the company is doing.

[abhiseshakana]

OP what you describe actually inverted pyramid phenomenon where too wide at the base occupied by the middle and lower classes then it narrows, becoming extremely steep, leading toward a small peak occupied by a select few elites what we call the 3% group. A healthy economic structure should be shaped like a pencil, which has a thick middle section, with a prosperous middle class unlike the current situation, where it is propped up by the poor and middle classes.

I have never even perceived a direct subsidy, where one wealthy person supports several poor individuals can cure illnesses, because from what I know subsidies only treat the symptoms even training people who lack self awareness increasingly lazy. Lower and middle income class need added value or economic self reliance built at the grassroots level.

The greed of the ultra rich group is not the main issue at the moment, matter of fact the real problem is that the middle and lower classes are not consolidated so they lacks bargaining power which leaves them unable to demand fair wages, influence tax policy, or build a counter ecosystem for business. We can make pencil shaped economic pyramid by consolidating power on the bottom of pyramid so that money circulates laterally or among fellow citizens instead of being continuously siphoned upward toward giant corporations. We can start by do daily shopping at the small, local shops in our neighborhood and local producer, rather than at a giant supermarket chain. When money is spent among those in the bottom of pyramid, it circulates horizontally, sustaining many families within the same community, rather than flowing directly into the accounts of shareholders at the top of the pyramid.

[Free Market Capitalist]

Permit me to say this. The most dangerous threat to the world economy isn't war, not poverty, not corruption. It's the billionaires.

You don't know how the world you live in works. You're the typical idiot who thinks wealth is like a pie—if some people have more, others are bound to have less. I’d go on longer, but I’m sick of explaining basic things to shitty leftists like you who not only don’t know how the real world works, but refuse to understand it.

If there are more than 8 billion people living in the world today with standards of living that were unimaginable a couple of centuries ago, it’s precisely because there are more and more millionaires and billionaires—and this is despite the efforts of fucking communists like you, who only bring hunger, mass poverty, political repression, and terror.

[HajiBagi]

I understand your frustration and with those billionaires the world can change and things will change, but we should not forget that those billionaires are businessmen who want to keep being billionaires, they have worked hard to get to the level where they are today and you can’t expect them to sit down and say that they will make the world better when they are not our government, i am not going to blame any of them because none of them are politicians who we vote and started punishing us.

They have what it takes to make the world better but i believe if it was you in that position you will also do the same thing that they are doing because you owe no one anything, it is the government and the greedy leaders we chose we should blame, I am not supporting them but they are not the reason why we are all suffering in the world.

[Rruchi man]

Permit me to say this. The most dangerous threat to the world economy isn't war, not poverty, not corruption. It's the billionaires. The world had enough money, but ten men hold it. Listen to this, the ten richest men in the world, have more money than 3 billion people combined. Elon musk, Bezos, Dangote, Zuckerberg, they all can end world hunger with 6% of their wealth, but they won't. Because they won't gain from it.

Can they really end world hunger? There are several factors that are contributing to hunger in several parts of the world, and billionaires worldwide can simply not solve it by donating a percentage of their wealth. Some of these factors can simply not be controlled by money.

Also, if the government in these countries, where poverty and hunger is an issue are doing well to try solve tackle the challenges they have, billionaires will not need to be criticised for not trying to help out.

[arallmuus]

Imagine we take just half or billionaires wealth and put it into free schools, hospitals, factories and farms. Poverty will end in five years

This wont solve poverty issue, it will just reset the society. Once everything is given for free, the baseline for poverty and what actually counts as minimum standard for living will just shift towards that standard

Aside from that, almost all of these bilionaires' wealth are actually tied to stocks so the only way for you to extract their money would be to sell their stocks which would crash the market then affect the middle income household as well.

Elon musk, Bezos, Dangote, Zuckerberg, they all can end world hunger with 6% of their wealth, but they won't

World Food Program ever stated on X that $6B could end the world hunger. Elon replied by asking about his plan to do with that money and he would sell his Tesla stock to fund this program if it makese sense. WFP get back at him with detailed plan but stated that it was only a temporary stoppage on world hunger.

You cant really eliminate food hunger and poverty though

[logfiles]

Maybe you should blame it on systems such as capitalism that enable them in the first place. I mean most of the top billionaires we know are from the west, the epitome of capitalism right?

Unless the current monetary system becomes obsolete... Nothing is going to change. The game is rigged

[Charles-Tim]

If there are no billionaires in the world, there will still be problems. If the billionaires make their money from legit businesses, I have nothing to complain about.

What I will complain about is if the rich person is getting his money from something that is not legal and bad. But so far they get their money from something good and acceptable which is the businesses people know them with, some people will be jealous of them, but they are not the problem.

[uneng]

But we worship them. We clap for them on Forbes list while we suffer.

Well, you nailed it here. After all, it's your own fault if you worship them... And while it continues like this, nothing will change. The masses are guilty for being intentional fools, for not changing their mindset towards life. The difference between people in general and the billionaires is the fortune at their reach. The practices would be the same if the average individual had such power under his possession. That is the problem.

What raises suspicion and doubt on me right now is if the products, goods such companies sell are expensive due to them being greedy or due to inflation, taxes and global economy being a disaster.

[Fortify]

Imagine we take just half or billionaires wealth and put it into free schools, hospitals, factories and farms. Poverty will end in five years. But we worship them. We clap for them on Forbes list while we suffer.

The world does not have a poverty problem, the world has a greed problem, we don't need more billionaires, we need fewer, some has 2 hundred billion while some is drinking dirty water.

In principal everything you say is true, but the problem is really politicians not taking a stronger stance but money does seem to corrupt everything. Just look at Elon musk who poured half a trillion dollars into the midterm elections trying to sway voters to the mess that is the republican party. Fortunately the terrible economy and fed up voters were clever enough to fall for all the dirty tricks that money buys. That was just the most obvious and blatant example though, every day corporations are scheming to deconstruct the rules built to benefit the majority with the aim of making a small group of owners even richer. It's a sick mentality but when you have and encourage unregulated capitalism it is the inevitable end result. There is a constant battle to close down loopholes and all countries should work together to make these billionaires pay more.

[Spaceman1000$]

One thing you should understand is that the capitalist system is been encouraged by the government, the reason why capitalist gain more momentum is because the government has shift its own responsibility to individuals, so you see businessman coming together to create a solution to things that government ordinary would have done, so in doing that they've made more money they and created more opportunities to make more money for themselves.

Take for instance in my country, a guy started selling power tank that came with Solar panels, because there is a consistent issue of power shortages in most parts of the country, most home owners saw it as an opportunity for to eradicate the problem of power shortages, and the amount was very affordable for lots of people. After the guy announced and advertised the arrival of the product from China, trust me the guy sold out the entire product in let's than a week, and made a total sale over hundred thousand dollars in that short period. So the government are the enablers of this capitalist that we call Billionaires.

[Dr.Bitcoin_Strange]

they all can end world hunger with 6% of their wealth

Lol, I could not help but laugh when I read this part. So, you mean to tell me that these wealthy men that you listed, decided to make money because they want to end world hunger? Are you a rich man?   (dumb question), if you are, then is everyone around you rich too and not hungry? You clearly do not understand how the world work mate, else you would know that it's not the primary duty of wealthy people to stop poverty or hunger in the society, perhaps these rich people are paying huge amount of money in tax which contribute to the country revenue and the company that run also helps to provide job opportunity for many citizens.

I feel the kind of mentality you are subscribing to is the "entitlement mentality," You think that these wealthy people own you or own anyone 6% of their wealth. However, you didn't think it wise to acknowledge that these reach people started from a low place many year ago before they built their wealth little by little. You only talked about how you expect them to spend their money.

[Donk1]

Well I believe we can't really say for certain what they are doing with the billions. They are certainly not going to take it to heaven when they die, so it's easy to say since they decide not to help it's their choice. And besides, even if they say they want to feed everyone in the entire world, they can't really do that for even, let me say, up to 2 years longest 6 months. Then what People will still start complaining again. They might even end up insulting them that they are greedy and are still hiding money. Basically from a broad perspective, I believe life can never be fair as long as the economy still continues the idea of rich and poor, and as well for the fact that we humans can never be satisfied. That's all.....

[Hamza2424]

Bro, I literally can't argue with you on any point, and you should add one more thing. If they are giving away anything for free, that's for business too, like Bill Gates' agricultural products, which are ultimately seedless, and you will be relying on them again and again. If they stop giving you seeds, then you won't be able to cultivate crops at some point.

Their products created jobs and different fields of work, and they are not alone in this. They are just people who created something, and people before them also created something, and in the future, there will be even more people creating something. It will keep on going. We can't blame them. We have to do our work and fill our stomachs. They don't care, and we should not expect them to.

By the way, there are 3,428 billionaires in the world, or probably more.

[Josefjix]

If these billionaires were handed the position for free, then your complaint would be accepted as valid, but since they worked so hard to get to the top, they owe you or these poor people nothing. The government are those who are obligated to care for these poor people not the billionaires who got there from their sweat.

I don't agree with you on this, let these poor guys find something creative and start from somewhere, then gradually improves and become better in their craft..

Billionaires doesn't owe them anything, only government owes them good life because they voted them in since they trust his leadership.

[trendcoin]

Is total wealth a constant or a variable? I think that’s the core issue here.

When the OP and others like them talk about wealth inequality, they’re essentially saying that total wealth must be a constant value.

When a carpenter turns a piece of wood into a chair, he creates additional economic value through his labour and skills.

By distributing this wealth equally, we will either punish the carpenter who transforms wood into a chair, or we will accept wealth inequality as normal and reward the carpenter for his skills. Which would you choose?

[Ambatman]

Permit me to say this. The most dangerous threat to the world economy isn't war, not poverty, not corruption. It's the billionaires.

Permit me to say this it's the ever growing of debt of the world that has barely fallen but instead rises.
Inflation and the likes.

they all can end world hunger with 6% of their wealth, but they won't. Because they won't gain from it.

I will assume you don't mean distributing money across but rather making development
That would make food accessible to majority.

They are only interested in profitable things like buying twitter now called X buying yachts, go to space to have fun, while children in India, Africa and even America sleep hungry. That is not economy, that is wickedness.

Imagine dictating how someone chose to use their money.

But we worship them. We clap for them on Forbes list while we suffer.

And they are at fault?
I'm surprised you didn't mention Government or that humans are usually selfish
They saw a problem and found a solution and made money from it.

[Marykeller]

OP, I hope you know that the billionaires you know of weren't born rich. They worked hard and smartly for years to get to where they are today, and you don't expect them to give away few percent of their wealth because they find the majority of the world's population to be poor.

The billionaires don't think in such direction of giving out a few percent of their wealth to the poor because the opportunity of becoming rich is open for everyone, nobody is withholding it. Anyone who thinks they are swimming in poverty, they should make a move to start up or learn a skill that will be providing for them

[Juse14]

Your concerns are legitimate, wealth is certainly concentrated in the hands of a few, it’s an unbalanced system but that’s usually how capitalism works, it’s usually framed as an equal opportunity system but it’s not if we’re being honest. One thing I would be cautious about is assuming that the spending capacity of billionaires is equivalent to their net-worth, most of the time these figures are inflated and they are not really worth that much in reality, most of their wealth are held in company shares and not cash sitting in the bank, if the stock goes down, so does the wealth so basically it’s tied to how well the company is doing.

Their wealth is in a stock or asset they are not worth the paper money that we know in general, this is too twisted and the valuation of the value is also based on the estimated value of the asset, he is describing his concerns without reading further and I think it is appropriate.
This world works with many different principles in living life and we want to live peacefully with equal opportunities and rights whether it's communism or capitalism, everyone has their own point of view but when we are given the right to school/study, family, group, work and other basic rights, it is enough as the rights of humanity in my opinion, especially being rich or billionaire is back to everyone's ability.