you are viewing a single comment's thread
view the rest of the comments
[–] 3 points 3 years ago (1 child)

Serious question: do you think the "aristocracy" has like, vaults full of money? Like you think Jeff Bezos has billions of dollars sitting in his bank account? Or a literal vault?

Because that is definitely not how rich people actually live. As a rule, they have very little liquidity as a percent of their net worth.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 2 points 3 years ago (1 child)

    What does that have to do with anything? Just because the wealth is on paper doesn't make it any less real.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 1 point 3 years ago (1 child)

    It matters because people suggest that Bezos et al "hoard wealth" which is both untrue and impossible with the way their wealth is calculated.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 1 point 3 years ago (1 child)

    But they are totally hoarding their on paper wealth. It's impossible to end up with $200 billion without intentionally hoarding it.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 1 point 3 years ago (1 child)

    That's not true at all. Bezos, for instance, is worth so much solely because Amazon is worth so much. It has nothing to do with his personal spending habits whatsoever.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 1 point 3 years ago (1 child)

    Bezos is the CEO of Amazon, he can definitely take some of the credit/blame that it's worth so much and that he has such a large stake. He could cash out at any point, but he chooses not to, aka hoarding.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 1 point 3 years ago (1 child)

    ... what exactly do you think would happen to Amazon's stock value if Bezos cashed out?

    And how exactly is owning a company "hoarding"

  • source
  • parent
  • hideshow 2 child comments
  • [–] 0 points 3 years ago (1 child)

    It would drop a bit, depending on how he handled the PR. Anyway, then he could donate 99.99% of his wealth and still have far more than any of us will ever have in our lives. But he doesn't, because he's hoarding it.

  • source
  • parent
  • hideshow 2 child comments