Re:Patagonia founder gives away the company
by insane_dreamer on Wednesday September 14, 2022 @06:44PM
(#32844479)
> largest expense billionaires have is investment in other people and companies
that's not an expense, but an investment, on which they (usually) get a return, increasing their net worth
> if billionaires squandered their wealth on short term self indulgence that would be one thing, but they don't
they do, just not enough to make a dent in their wealth because once it's grown so large, it's hard to spend it faster than its growth. If you have $1B growing at a modest 6% / year, that's $60M / year.
> They typically give it all away.
they don't (unless by "all" you mean "a small percentage"). Even the few who have pledged to give 50% away in their lifetime have not (since their fortune has continued to grow). There are exceptions of course (and MacKenzie Scott will probably be one of them).
that's not an expense, but an investment, on which they (usually) get a return, increasing their net worth
> if billionaires squandered their wealth on short term self indulgence that would be one thing, but they don't
they do, just not enough to make a dent in their wealth because once it's grown so large, it's hard to spend it faster than its growth. If you have $1B growing at a modest 6% / year, that's $60M / year.
> They typically give it all away.
they don't (unless by "all" you mean "a small percentage"). Even the few who have pledged to give 50% away in their lifetime have not (since their fortune has continued to grow). There are exceptions of course (and MacKenzie Scott will probably be one of them).