- Elon Musk, 52: $210.6 billion (Tesla, SpaceX)
- Jeff Bezos, 60: $181.2 billion (Amazon)
- Larry Ellison, 79: $142.1 billion (Oracle)
- Mark Zuckerberg, 39: $141.2 billion (Facebook)
- Warren Buffett, 93: $127.7 billion (Berkshire Hathaway)
- Larry Page, 50: $126.5 billion (Google)
- Bill Gates, 68: $123.8 billion (Microsoft)
- Sergey Brin, 50: $121.2 billion (Google)
- Steve Ballmer, 67: $119.9 billion (Microsoft)
- Michael Bloomberg, 81: 96.3 billion (Bloomberg L.P.)
It doesn’t!
It is not hard to find criticism of America’s billionaires, inequality, fair share and all that. Indirectly they are blamed for poverty and the state of the middle class whatever that may be.
Let’s look at the list.
How did they make their billions? They created something and then they invested and kept investing. I see no way they took from you or me or blocked our ability to also achieve wealth if we had the ability and were so inclined.
I don’t begrudge them their wealth, I use their products and service – no Tesla yet – their creations have made life better for millions, if not billions of people around the world and many are generous philanthropists.
It’s easy to ignore how they all got where they are and focus on wealth accumulated, but it is not alright to think we deserve a share, especially by way of a wealth tax.
Envy is not pretty.
QUINNSCOMMENTARY 
Of course what is amusing is the left has raised a massive amount of $ to defeat Trump and not too long ago they were for public financing of elections and were aggressively warning us about money in politics. Like sanctuary cities and states you take most of what these folks say for naught as all they want is political advantage.
Wealth tax? Will brother Quinn pay tax on the Picasso in his living room? What about that Mickey Mantle card that our host has? Another joke proposal from the loons on the left. Didn’t work in Europe and won’t work here.
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“Envy is not pretty.”
You can say that again.
I have seen it in my own family, and I bite my tongue (somewhat). Some who have spent a lifetime working hard for minimum wage or barely over, and are now retired on Social Security only. And a few very new to the workforce who apparently envy, and believe the problem is those on welfare. Either working full or part time or unemployed.*The “system” is screwed up. Unbalanced. As far as I know, Dad worked hard all his life and never resorted to welfare, food stamps, or any other entitlements, but several sisters have. When I was very young, I received child care assistance for part of a year and was grateful for it.
*Not always, but very often through no fault of their own. Some one is very convincing… “If only you would work a little harder.”
It is said the difference between a conservative and a liberal… Conservative says I worked hard for what I have. Liberal says I worked hard for what I have. And I was lucky.
Envy is not pretty.
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“Income and wealth inequality is elevated. In the absence of policies to counter recent trends, inequality could rise to still higher levels. High and rising inequality entails adverse economic, social, and political consequences….
I don’t think this is much of a problem. I haven’t seen anything that the big dogs have shown much concern other than Buffett said he thinks his marginal rate should be higher than his secretary. I’m sure if inequality were an existential problem, they would be putting out solutions.
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the conclusion of a Brookings Institute article on inequality…
“Income and wealth inequality is elevated. In the absence of policies to counter recent trends, inequality could rise to still higher levels. High and rising inequality entails adverse economic, social, and political consequences. Policymakers must pay more attention to the changing distributional dynamics in the digital age and harness the forces of change for more inclusive prosperity. History tells us that large and unabated rises in inequality can end up badly.”
Yadda, yadda, yadda…
Yes, I believe the increased influence of the wealthy is dangerous, even if it is unintentional. Even if is well meaning.But more importantly is the lower income level. If they can’t earn enough to survive, preferably in comfort, I dare say, your society is unsustainable.
Wealth tax? I don’t know, but the income tax should be much more progressive. Much more.
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I don’t care about the amount they have accumulated. It’s not on my radar, same goes for professional athletes and movie and stage performers.
One thing that I do get concerned about is the outsized influence some of these folks have on topics that are outside of their expertise. They have ability to influence politicians in whatever area they choose. Bill Gates gets mentioned a lot in areas that call for serious study and consideration, like climate change, the Covid mess and foreign affairs. I saw Bloomberg mentioned in the same vein. They have a right to their opinions and to speak out but they should not have the ability to buy the political process.
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Yes influence in politics is an issue, but it takes two to play at it which is one reason i favor term limits
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I don’t see how term limits reduces the influence of the super wealthy.
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