this post was submitted on 20 Mar 2025
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Remember, theres a gigantic difference between the wealth of a billionaire and the wealth of a millionaire. For one thing, its possible to make a million without harming others, a BILLION though, you HAVE to sacrifice others to achieve.
On paper, sure. But I might argue that the process of accruing paper wealth as a backstop against misfortune and a reserve during retirement is inherently deleterious - forcing people to forego quality of life in the immediate term as a hedge against the future. This is a highly inefficient process for individuals to manage - who carry the whole cost of an incidental risk/exceptionally long life. And it is the whole reason public pensions and public insurance came to exist.
That's before you get into the moral hazard of certain professions and fortunate individuals being predisposed towards retirement, while others work right up until their dying days.
While the guy happened to manage to acquire almost $400 million by selling his company, it seems that he's really trying to do some good with that, quite frankly, ridiculous amount of money.
Also it seems that his employees were compensated somewhat above market rate while he owned the company.
Not exactly a dragon of his own making, we shall observe his career with great interest to see if he follows what seems to be his chosen path, as of now.
The difference between a million dollars and a billion dollars is about a billion dollars