Quote:
Originally Posted by Captain Snooze
Here we go off topic. Come along for the ride.
I have read that past a certain level of wealth money no longer becomes a utility to be used. It becomes a measure to compare one's position to another.
There isn't much difference in utility between $100 million and $200 million but the the person with $200 million can I say am positioned higher than my neighbour who only has $100 million. That is, it becomes a purely measure of status. I have read this why CEOs demand so much money; not for what the money could do for them but as a means to be compared to their peers.
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Exactly, it becomes a game or a status symbol to attain as much as possible. I really, truly believe that some of these wealthy individuals could be hoarders, just of money, like in the way that they attain and retain possessions that lack real value or meaning for the individual no different than someone packing their house with garbage and newspapers.
To be fair, there is a difference between wealth and salary, and while some of these people are obviously living lavish lifestyles, they only cash out a small fraction of their wealth on a yearly basis to live off of like I wouldn't be surprised if Bezos actually lives below $1-10 million a year. If you don't count his investments or his philanthropy or his projects then you might find his annual budget for living and traveling expenses might be proportionally very low. My project might be using my income to add a supercharger to the car. His project for the year might be cashing out some stocks, so he can build a rocket, but my point is that he doesn't really use or see much of his gains to his wealth because much of it is locked in asset and stock evaluation.
What gets me is the hypocrisy of rich people saying they don't want to pay too much taxes and some billionaires literally crying on TV about it, but then you read something like this:
https://www.roadandtrack.com/car-cul...late-for-sale/