Money - some context

Cherry

By HarryC

Sat, 15 Jan 2022
  • 2975 reads
23 comments
 

As of 13th January 2022 (last Thursday), the Top Ten richest people (all men) in the world had an estimated (official) net worth as follows:

1. Elon Musk ($280.9 billion)

2. Jeff Bezos ($191.1 billion)

3. Bernard Arnault & family ($189 billion)

4. Bill Gates ($135.8 billion)

5. Larry Ellison ($121.6 billion)

6. Larry Page ($120.9 billion)

7. Mark Zuckerberg ($118 billion)

8. Sergey Brin ($116.5 billion)

9. Warren Buffett ($116 billion)

10. Steve Ballmer ($101 billion)

That means the combined (official) wealth of these 10 men equals just under $1.5 trillion. 

Or $1,500,000,000,000.

I don't know about you, but I can't imagine such a sum.  I need some context to make sense of it.

So, how about...

These 10 men own more personal wealth, according to figures provided by Oxfam, than the poorest half of the world's population - or almost 4 billion people.

10 men owning more wealth that 4 billion people.  Still it makes no sense.

10

4,000,000,000

Nope!

Okay... let's try this...

10 men would fit just about comfortably into 2 large cars - 5 in each.  If those cars were travelling at a speed to pass you in 1 second each, with a sensible 2-second gap between them, they would pass you in 4 seconds.

4 seconds.  The blink of an eye.

Now... let's fit 4 billion people into similar cars.  5 to a car would make a total of 800 million cars.

Or 800,000,000 cars.

Now... if those 800 million cars were travelling behind our 10 men in their 2 cars, and were moving at the same speed, with the same 2-second gap between them... how long would those cars take to drive past you?

76 YEARS.

You can do the maths yourself.  It's easy enough.

4 seconds. 

Or the average Western human lifetime.

Please - don't say 'But they give lots to charity'.

10 men - 4 seconds.

4 billion people - 76 years.

And all charity does is underpin the problems rather than solve them.

Okay... I'll shut up now.

Just putting this out there, while some of those men play with their cars and rockets.

 

As a minimum-wage social care worker, I look forward to April when I can start paying an extra 1.5% in National Insurance in order to fund the continuance of my own job, while these men continue to find all kinds of creative ways - via their expensive (to all but themselves) tax lawyers - to avoid paying taxes at all.

 

(image: my own)

 

 

Certificate PG
Non-fiction
Rant

Comments

Submitted by airyfairy on

With you all the way on this one. It's obscene. I'm all for people being entrepreneurial, and if they want to buy a yacht that's fine, but when it gets to this level of wealth, there is something seriously wrong. I really like your metaphor of the cars. 

The NI increase is also obscene. Tell you what, open up a wine shop in Westminster. You'll make a fortune. 

Submitted by HarryC on

Bring your own suitcase!

Submitted by HarryC on

Okay... try this one.

Convert $1.5 trillion into $1 bills and stack them up.

The thickness of a $1 is 0.0043 inches.

So that converts to a £1.5 trillion stack that would be 6,450,000,000 inches high...

...or 101,789 miles!

That's 42.5% of the way to the moon!

Lay that stack down and it would go around the earth 4 times (and a bit!)

I really need to get a life, I think cool

Submitted by Di_Hard on

Well Put! I think it's just off the scale as far as my brain goes, no amount of explaining can do it, it is so wrong like a crime against humanity both now and for the future, as this money is needed for so many things, and inventing space tourism is not one of them. It is good to put these numbers out as much as possible, not sure how many people know what the problem is

 

Submitted by HarryC on

I think it's a bit more than space tourism, Di.  Obviously, Musk and Bezos are competing for outsourcing contracts from NASA, etc. Years ago, I remember reading Ben Elton's 'Stark' and thinking how kind of credible the concept was.  Now, I seriously think it's part of the agenda for the wealthy and powerful elite who - let's be frank - don't give a toss about the rest of us.  They only want us for the cheap labour we provide to help them to flourish. And machines - as Marx predicted - are swiftly taking over those roles.

Submitted by Ray Schaufeld on

This packs a punch. Makes me want to... - no it's best to stay out of trouble.

All social care workers should get paid at least double the minimum wage.

All the best, Rach

Submitted by donignacio on

It's ultimately our decision to let people hoard wealth. We need to make that illegal! Great piece. -Michael

 

Submitted by HarryC on

I don't think it is our decision.  I don't think we have any say in the matter.  It's just the way it works.  The rich can get away with whatever they like.  The poor just have to put up with it.  Because they have no power.  Not even at the ballot box.  Not real power.  That lies solely with the 1%.

Submitted by donignacio on

I got a little excited when AOC (Alexandria Ocasio-Cortez) kicked Amazon out of NYC. Small steps but I hope it's just the tip of the iceberg. I'm hoping also we can repeat what we did 100 years ago! Maybe I'm pie in the sky but at some point it's gotta tip.

 

Submitted by HarryC on

With you there, donignacio! wink

Submitted by HarryC on

https://www.bbc.co.uk/news/business-60015294

Submitted by celticman on

 I learned a new word this week. Centribillionairs. People worth more than a $100 billon. I remember there used to be that visual thing (I can't remember the name Stankovite or something) the avarage size based on wealth. Midget millionaires and then these monsters. Even NASA fling money at them to support their hobbies. 

 

Submitted by Jane Hyphen on

Context - I love it but it just makes it all the more absurd. I too, don't earn much above the minimum wage, worked through almost all of the pandemic, dealing with the public, who were mostly angry and didn't social distance. I keep seeing things about people who work from home claiming back money from government - wtf? Care workers are underpaid and undervalued. The wage gap in this country is ridiculous and it's getting worse. As the cost of living continues to spike, what will happen?

 

Submitted by Di_Hard on

I think that might be what the new anti protesting laws are for

 

Submitted by Turlough on

I'm sorry Harry, but I couldn't read all of this because the facts are so sickening. I used to get angry about this sort of thing but I've given up because no matter what I say or do, it will have no effect on the problem. I don't know how these disgustingly rich people (or their allies and supporters) can sleep at night, can face another member of the human race or can even consider keeping (or increasing) all that money.

Good on you for doing the job you do. Workers in the care industry are probably as undervalued as the people pulling the purse strings are overvalued.

Hasta la victoria siempre,

Turlough

Submitted by HarryC on

I quite understand where you're coming from.  All writing this stuff does is feed my drinking and my depressions - so I really should give it a rest.

But it's still there for me when I wake up again.

And I so wish it wasn't.  Even the booze doesn't erase it.

Submitted by Turlough on

I came to live in Bulgaria six years ago. I bought a house in a strange language in a small village in a forest in a valley where most of the people have moved away to find fame and fortune or a job picking carrots. One of the big reasons for the move was to escape the political mess that the western world was in. It didn't work. All I have to do is switch on my computer and it's there. Sad to say, ostrichism isn't the answer.

Turlough

Submitted by HarryC on

I know what you mean.  I have a friend who did the same about 10 years ago - moved to Bulgaria, bought a tumble-down farm cottage, tried to escape and make a different life.  It kind of worked for her.  But it isn't easy with the way things are now, with information there at the tap of a screen, and everyone seeming to be in on it.

Submitted by Turlough on

It's a brilliant place to live though. I absolutely love Bulgaria. The cost of living is very low which enabled me to retire early, the climate, food, drink, people, scenery, history and culture are right up my улица. The national population is smaller than London's so we were sort of self-isolating long before it became fashionable. The political situation is dodgy (though improving, apparently) but I don't understand it so I don't get depressed.

Do you know the name of the area your friend moved to?

Turlough

Submitted by HarryC on

I don't, no - but I have a friend who does.  I'll check up with him.

Submitted by Turlough on

Righto! Just curious. 

smiley

Turlough

Submitted by HarryC on

Her name is Sharon - maybe you know her.

As when an American says 'I have a friend in London called Keith.  Maybe you know him.'

Oh, yes.  Keith.  From London.  Know him well... wink

Submitted by Turlough on

Ahh, Sharon!

Never heard of her ...

laugh

Turlough