Tag Archives: billionare

Just asking… #9 – Billionaires

Picture by pasja1000 on Pixabay

Why on earth would one person ever need a billion euro (or dollar, if that is your currency of choice)? In which sense could that person experience a genuinely higher quality of life compared to someone having ‘only’ 100 million? I’m not claiming that all the wealth in the world should be redistributed to the extent that everyone would have exactly the same – some people undeniably work harder than others or have far more responsibilities (e.g. over matters that can decide over life and death of others) and it is perfectly legitimate for that to result in receiving, say a 10 times bigger amount of money. But not 10.000 times more.

In the years leading up to the financial crisis of 2008, a handful of hedge funds managers collected more than 1 billion per person per year. If you can think of a single argument to not qualify that statement as utterly obscene, do let me know. I can’t think of any.

So: why does the world need to have billionaires? Just asking…