his net worth is not in physical cash. The net worth is in stock valuation. He does not have billions somewhere in a bank
This what they fail to state, real cash might be 10% of that, and he can wake up one day and double his worth or lose half if it.
he does not 10% of any cash lying around, he probably has no physical cash except maybe tens of thousands in actual cash simply because he does not need it when there are so many investment opportunities available to him. Any coin lying idle is a missed investment opportunity. Only backward third world political thieves view hoarding large amounts of bank notes as intelligent behavior
Right. Unfortunately, this is NOT the same system that helped Kenyan shilling billionaires achieve their status.
For you to be a billionaire you will have to be ruthless and care less about other people
How does spending money make sure that the government is accountabe? Are you saying that instead of setting up Kijabe Hospital, the AIC would have used that money on helping the government to be more accountable? Why are Kenyans so obsessed with government?
What about to be a millionare? Does one need to be ruthless? This idea that fr you to make money you must be evil is nothing more that Socialist Indoctrination. Caring about people is an issue of character/personality. Not wealth.
That is really oversimplified but generally true. In this age the efficiencies created by owning and mining data mean that nobody shall be able to grow their businesses…by owning Amazon and AWS Bezos has access to so much data that his ROI is almost perfect. This is why I say the system is broken. Data is in the hands of a precious few.
in simple terms I meant our systems are broken…any philanthropy will feel sonkoish, barely scratching the surface. I would rather any Kenyan with serious cash used it to correct what ails us…our politics…our systems…that’s how wealthy individuals in the west use their money…thereafter they engage in philanthropy knowing that the system has been fixed…
Don’t do the work of the government by duplicating it’s work…become the government…or infiltrate it…use NGOs and politicians to push for change that you desire
Do you know how easy it is to track customer behavior on your website? Big Data is available to anyone…
Look back at history and you’ll see how quickly markets change. During he Rockefeller era, his grasp on the energy industry led many to make the same claims you are making: That no one will ever be as rich because his hold on the biggest wealth generator is so strong.
A few years down the line, Technology rivals the energy industry in terms of wealth potential and Bill Gates towers over everyone else.
Warren Buffet makes his billions without creating anything, but just by being savvy enough to work the sock exchange.
Bezzos comes in with Amazon and makes his billions.
Following this trends, a new very marketable niche will evolve as trends change. On the technological niche, we’ve barely scratched the surface. So much potential remains.
Rockfeller was felled by the govt not innovation. Gates was also slowed down by the govt. Buffet likely survives because he does not have power just alot of money.
The only way to stop Bezos and Zuckerberg and Musk(not for Tesla but for Neuralink) is govt
regulation.
What good is website analytics when most transactions and patterns are on shosho media? The correlations of the personal data that these companies have are incredible. Literally mind bending.
On your website you only have part of the picture. Microsoft Google Amazon Apple and Facebook are able to have a complete picture not only of you but also your family friends etc. (They can literally map societal behaviours) Web analytics are a powerful but these giants are in another universe.
On social media behaviors, they are pretty public.
Why would we want to stop exceptional business people offering exceptional goods and services?
Whatever power they wield from their money is power earned, it’s not stolen.
FYI, innovation is financed by the super-rich… You shouldn’t stop them, just open up the playing field to competition… capitalism will do the rest.
It’s never a good idea to give the government increased power to interfere with the free-markets. Just because someone is making a lot of money doesn’t mean he’s evil. Are you familiar with the Gulaks and the Ukrainian famine that killed millions?
Vilification of the people who become rich by being innovative and bringing in the government to ‘equalize’ never ends well. We will do well to learn from History
Real cash of almost 20bn dollars for 1 person is insane. Think about it. That is bigger than the annual govt budget for Tanzania. A nation of 50m individuals…
This is why I think the system is broken.
All I was saying is that power corrupts and absolute power corrupts absolutely. So having a band of 20 odd folk owning/controlling literally 75% of the globe politically and economically cannot end well.
Currently look at the curious case of billions flowing to Ambani of India. I am not sure if its because he has a brilliant plan or if its geo politics at play. US needs to prop up India to contain China. (This containment strategy was used on USSR). This to me is misallocation of societal resources. But maybe I am not seeing the bigger picture.
Unbridled capitalism as currently practised in US and elsewhere is as bad as Communism…
On what basis do you think that it is the government’s job to take care of your health? Can you give an example where wealthy people in the west have used their money to change government politics for the good of the people? Perhaps you ought to acquaint yourself with the cronisym that rules in the west due to lobbying. Lobbyst don’t do things to help people: they do it to help their clients - Wealthy businesses - for tarrifs on imports, tax breaks, etc. Great USA’s most treasured universities like Yale, Havard, were all charity/religious universities.
The vast majority of Kenya’s top schools were church schools before they were grabbed by the Kenyatta regime in 1965. In the high school I went to, the school - Still under the heavy infuence of the Church - had 20 teachers. All of them had cars. There was a petrol pump at the school and the teachers lived in fully furnished houses inside the school compound. You need to stop your obsession with Government.
How is the US practising “Unbriddled capitalism” when they just passed a $2 trillion dollar package to help fight the impact on COVID on small businesses? When they have minimum wage? You can’t use minimum wage laws and still have unbriddled capitalism
This is the reality of all structures of merit. Merit is not equal, people are endowed differently.
For example, even on a personal level, the 80-20 rule dictates that 80% of all your gains are resultant of 20% of your efforts.
In a company, 80% of the success is attributable to 20% of the personnel. The other 80% is only responsible for 20%. That’s why so few become so very rich… merit works like that.
The sad reality is that genius is very rare, it’s vital that we don’t bridle it when it occurs.
And how do you figure that 20 odd folk control 75% of the world?
The combined wealth of the top 20 richest people is hardly comparable to the combined wealth of the next 80 richest people.
The idea that these 20 can control 75% of the world isn’t accurate.
When the minimum wage is lower than a living wage then yes it’s unbridled. When laws are made to favour big business and not small firms yes its unbridled. Look at the recipients of that package of 2trillion. The truth is stranger than fiction
People who care about people spend most of the profits on employees and helping out people close to the business they are not left with idle money.
Most rich are afraid of change because they think it will take away their advantage