There’s only a few ways to become a billionaire. Get money, get more money, and get even more money.
Typically by creating something extremely popular, which in turn becomes valued at much more than it cost you to create it.
Minecraft, for example, made its creator $2 billion when he sold it to Microsoft.
Also be born into a family with lots of money.
Not really; statistically, 70% of generational wealth is gone by the second generation, 90% by the third. Inheritors, generally speaking, spend what they inherit, they don’t hold onto it for the next generation to inherit it again. Again, opposite of hoarding.
Just because some of that money is in assets, bonds, stocks, and such doesn’t mean that they don’t hoard the wealth.
Yes, it does. The only way to hoard money is to not spend it. No billionaire has a Scrooge McDuck vault full of cash. Billionaires don’t hoard–ironically, hoarding money will only ever decrease your net worth, unless your currency is in deflation, in which case you’ve got bigger problems.
Investing in businesses only makes the stock holders richer it doesn’t trickle down.
You’re acting like businesses exist in some separate reality from the rest of the population. The businesses profit by offering goods and services that the market wants. That is what makes the share price go up, and in turn makes stock holders wealthier. Buying shares all by itself doesn’t do shit.
‘Stockholders get wealthier when the business is having a positive impact on the economy by giving the market something it wants’ isn’t exactly the argument you think it is.
they just want to see their net worth go up.
And spending (already-taxed) money to buy stuff that then proceeds to become more valuable, is not an act that deprives anyone else’s wallet of a single penny.
Typically by creating something extremely popular, which in turn becomes valued at much more than it cost you to create it.
Minecraft, for example, made its creator $2 billion when he sold it to Microsoft.
Not really; statistically, 70% of generational wealth is gone by the second generation, 90% by the third. Inheritors, generally speaking, spend what they inherit, they don’t hold onto it for the next generation to inherit it again. Again, opposite of hoarding.
Just because some of that money is in assets, bonds, stocks, and such doesn’t mean that they don’t hoard the wealth.
Yes, it does. The only way to hoard money is to not spend it. No billionaire has a Scrooge McDuck vault full of cash. Billionaires don’t hoard–ironically, hoarding money will only ever decrease your net worth, unless your currency is in deflation, in which case you’ve got bigger problems.
You’re acting like businesses exist in some separate reality from the rest of the population. The businesses profit by offering goods and services that the market wants. That is what makes the share price go up, and in turn makes stock holders wealthier. Buying shares all by itself doesn’t do shit.
‘Stockholders get wealthier when the business is having a positive impact on the economy by giving the market something it wants’ isn’t exactly the argument you think it is.
And spending (already-taxed) money to buy stuff that then proceeds to become more valuable, is not an act that deprives anyone else’s wallet of a single penny.
You really don’t understand what I was saying do you. This is boring, I’m tired of listening to an echo chamber of shit ideas.
lol