Zuckerberg Loses $6 Billion in Hours as Facebook Plunges
CEO drops to No. 5 on list of worldβs richest, below Gates
Stock slide knocks his net worth down to $121.6 billion
I read a post the other day which pointed out if you made $5000 a day, every day from the time Columbus reached this hemisphere to the present, you still wouldn't have a billion dollars. No one should have the money these people have. It drains the overall economy, plus they don't stimulate the economy with their spending. The people who shop at Walmart, Penny's, and the other local businesses are the people who stimulate the economy. Like other countries, kingdoms, and empires in the past; greed will be our down fall if we don't correct this.
The financial losses of people like Mark Zuckerberg and Bill Gates does not affect my sleep. How many beds can you sleep in at any one time, how many suits can you wear at any one time, how many cars can you drive or be driven in at any any time and how many private airplanes can you be a passenger in at any one time?
Of course, rich people donate huge money to charities, money that they would otherwise have to pay in taxes. Many companies and individuals donate money to charity as a public relations exercise which usually increases their fortunes and give the impression that the donor is a nice guy.