The billionaire class: a threat to democracy? | Business Beyond


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The billionaire class: a threat to democracy? | Business Beyond



There are just a few thousand billionaires in the world. But their number is rising. And combined, they control a vast chunk of the entire wealth of the planet. They are also getting wealthier. According to Oxfam, the 10 richest in the world have doubled their collective wealth since the start of the coronavirus pandemic – helped by soaring stock markets and our increased reliance on technology.
In this edition of Business Beyond, we’ll look at what it takes to become a billionaire in the countries which produce the most. We’ll even speak with one. And we’ll ask a key question: should billionaires be allowed to exist?

Chapters:
0:00 Intro
01:42 USA: The World’s Richest
06:00 China: The Most Billionaires
09:02 Russia: Oligarchy
12:45 India: Nikhil Kamath
14:45 Inequality
16:27 Sharing The Wealth
19:08 Billionaires: Do we need them?
20:15 Goodbye

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#BusinessBeyond #Billionairs #Inequality

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48 Comments

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  1. In this world where there is soo much poverty and people dying of starvation one should have a very thick skin to be rich . They may invent charity but their charity is their own guilt complex of grabbing everything .it is not out of love. And society sees this as success but this is greed which is calling itself success. The whole meaning if success is false.

  2. Taxation should based from the lowest paid employees….the higher that base the lower the tax. Should apply to shareholders as well. It's well known Walmart employees are so underpaid many rely on government support. Walmart's tax responsiblities should reflect that!

  3. It is a criminal act to drug anyone for any reason, at any time, and at any time. Even if you dont like them and even if they know something about you that you dont like.

  4. To become one is not hard work or communicating their vision or beibg smarter…. it's just to get the attention of the ones who will help you get there to do THEIR vision and they become a piece of the insane puzzle of destruction we are living. The cheat, thaygumvle, they kill, they abuse, they bribe… that's why they are ALLOWED to have the billions.

  5. Something really cool I learned about. Throughout history the gap between wealthy and un-wealthy was very small. When that gap started to grow. There were significant improvements happening for everyone. Average life spans went up. Technology improved to allow this very method of communication that many of us (myself included) take for granted.

    In my opinion, billionaires are not the result of bad policy. Instead, they are the result of invested progress. That is not to say they should be celebrated. In fact, quite the opposite.

    They can also certainly be a problem, there is no denying that. There are bad policies that allow underserving people to maintain their status of billionaire, when they otherwise would have dried up.

    I doubt we need to blow it all up and take out all billionaires. Changes in policy do need to be made. The question is, which policies? Do we increase taxes for them or just close loop holes in the current tax system? Do we force donations that could be helpful to the public, or would the donations just go to funding a private jet?

  6. During the 50's and 60's, when millionaires were the highest income earners, they paid appropriate taxes, and life was fairly good for almost all of society. Today, workers pay more taxes than the billionaires, and don't earn fair wages, a pension, benefits, etc. These are the people who are the primary necessity to increase company productivity and ultimately the owner's wealth, yet they're treated as paid slaves. The rich are anti-union, anti-worker safety, anti- anything that will lessen their personal profit, while simultaneously buying politicians and gaining more power. This is not sustainable and, unchecked, will continue to destroy society and democracy. I predict the young of today and tomorrow won't accept it and at some point will revolt and act against it. At least, for their sake, I hope they do.

  7. Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.

  8. Most billionaires do not even pay the percentage that most middle income pay. 25 to 30 % . They create their own tax loopholes and many times pay very little

  9. Maybe someone can explain how we can be a few years away from an ice-free Arctic ending agriculture with at the same time there being rich people. I thought rich people need a future.

  10. Let's tax them if all they care about for is just "a game of business", not money. They wound have just a bit more difficult game. Obstacles makes the game more fun, right?

  11. It is nothing new, people with money will always be the ones who end up ruling. In the past, we have monarchies where kings and queens are the richest among the people, now since most of us abandon the system and think we have our freedom by buying the illusion of "Democrazy" while rich people secretly influence and control the government behind the scenes.

  12. Tesla created and started real electric cars,put his own time and money into people, refined great car and a choice.
    Cleaner world. Important.
    Bill gates loves numbers,except to pay fair taxes, or improve housing for less fortunate, or something normal people could feel.yes interesting mind,think he has good intentions,put money into clean water projects, heather village's in Africa etc. Just saying.
    Other billionaires do nothing for creating better world. all about ego, think they live forever. Very boring little minds. They should be barred from buying second hand houses, people who lost there houses.
    Only build new homes,5% of that cost going to underserved communities homes. Doing this willingly would show they care.

  13. Is it fair that Bezos makes more money by underpaying, and overworking his employees? It is not a brilliant game of his and others of his like. Wouldn't it be better to pay those working hard for him more, give them paid vacation, offer them a medical plan, so these workers are happy. He might earn a few hundred $ less per year, but it is just petty cash and wouldn't cause him to blink.

  14. In my opinion, being "against billionaires" is just jealousy from unachieving, unambitious, entitled people.
    Obviously, scholars getting their paycheck from taxes will be in favor of increasing taxes. On the other hand, there are no study on the wealth and innovation created by billionaires. Their businesses hire millions and basically keep the economy running when accounting for supply chains.

  15. They pay for thier own promotion are no more than Twitter celebs losers. They act like Kardashians I'll only admire them when they are the boots on. the ground helping defenseless empathic Creatures and healing Mother Earth Wisdom Justice Mercy Empathy for homeless animals and people fund them with nothing to gain

  16. America's billionaires are oligarchs controlling power is not democracy is not legitimate. Clean out sold out politician owned by billionaires Celebs are billionaires puppets too

  17. We are past the point of doing anything about this. The super rich own their respective gvt so you can complain all you want – but there's NOTHING you can do about it. I'm not a rich person at all, but a realist.

  18. How do you take money from people redistribute it? To who? Who created the wealth in the first place? I feel billionaires need to be respected not condemned

  19. MUSK TURNING TO JESUS–HA HA .
    IT WOULD BE MUSK BACKING JESUS UP AGAINST THE WALL MFER & SAYING TO JESUS TAKE UP YOUR CROSS & FOLLOW ME & BECOME A TRILLIONAIRE .

  20. Not true. We all do have an opportunity to become a billionaire ourselves. That's what's great about democracy. With hard work you to can be rich. Why would we punish those for the success they've achieved.

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