Billionaires Should Do What…??

Billionaires Should Do What…??

Usually when people say “I don’t normally do this, but…” what they’re reaaally saying is “maybe I don’t normally do this, but I need some justification as to why I’m about to do the thing that I normally don’t do, soooo, I’m saying I don’t normally do this…” So when I say I don’t normally comment on controversial Facebook posts what I’m really saying is that I need justification for the one time I did it. 😁

In all reality I think engaging in a Facebook argument is a waste of time. At least in my experience what usually happens is both sides get super heated after hours of back and forth writings of long extravagant rebuttals outlined with “perfect” examples proving the point they are trying to make. At the end of the argument both sides end up even more convinced their side is correct and everyone is left with a bitter taste inside their mouths. Maybe I’m in the minority here, but it doesn’t seem like a productive way to spend your time.

Anyway all this being said I engaged in a Facebook conversation (ooops) the other day (don’t worry I made it a point to be as polite and respectful as I could with still attempting to get my point across, haha). It had to do with wealth so I thought I would get your opinion on the matter! Whether you agree of disagree with my stand on the matter I’d be very interested to know what you guys thought about it. I did post this a while back, but have since gone back and rewritten to hopefully improve the article.

Basically the post was about Billionaires and how if Billionaires were not so selfish world hunger wouldn’t exist. This person said that it’s sad when Billionaires think they need that amount of money just because they earned it, and just because they earned it doesn’t mean they need to keep it all to themselves.

Here is what I wrote

“Hmmm good point. I guess there are some selfish billionaires out there, but I think there are some who have done some amazing charitable work as well. Also, I know something like 65% of billionaires are self made and another 20% or so received a partial inheritance + added to it to reach billionaire status. Having studied how hard these people work and how much they sacrifice other parts of their lives to reach that level of wealth I guess I just have a hard time saying they should give it all away. I certainly don’t work 20 hours a day like Elon Musk or wake up at 5 am to work on my business like Richard Branson. And I’d like to think that the majority of these self made billionaires supply a lot of jobs for people through the companies they start that puts food on tables.

Anyway I’m not saying they are in the right or wrong because they are keeping however much money they are in their family or business and not giving it all away. I just think we can learn from them from a financial and business perspective and when or if we reach even a partial level of that wealth we can choose to give it away or keep it in the business or family we created. More focusing on what we can do individually by learning from the wealthy, rather than focusing on what they aren’t doing. Just my two cents.”

Now I could be in the wrong here (it wouldn’t be the first time), but that’s how I felt (and still feel). Later on, a person commented that Billionaires should be more compassionate and gave the example that instead of buying a $1000 suit they should purchase a cheaper one and put the excess money to good use. I wrote a response, but finally came to my senses and didn’t send it (instead I wrote a blog post ;)).

Here is what my response would have been had I chosen to continue the debate…

“It’s true Billionaires could be more compassionate, in an ideal world they would give away ALL of their money (although $1,000 to a Billionaire is like $10 to us so I’m not sure about that particular example). I would add that if we expect Billionaires to be this compassionate that we should probably do the same. It may be on a smaller scale, but let me give an example, instead of buying a new car for $30,000 that is only going to depreciate as soon as it leaves the lot. We could buy a $5,000 used vehicle that will simply get us from point “a” to point “b” but costs $25,000 less. The extra $25,000 could be donated to help the hungry. This is just one example of many parts of our budget we could cut to save money and donate to charity.

Now I don’t want to come off sounding self righteous because I could certainly improve in this area and become more charitable. The point I’m trying to make is that our efforts would be better utilized worrying about what we can do to improve the world instead of focusing on what others aren’t. As mentioned above if we don’t have the financial capacity to help others in this way, I would suggest learning from those who do have the money so we at the very least have the option of helping others in that regard.”

Final Thoughts…

I don’t know how much Billionaires donate to charity and I’m sure some donate more then others. To be honest I don’t really care, what I WANT TO DO  is learn from these guys and gals so that I can be wealthy in my own right someday. If I work hard enough and do make it, then I hope to be able to give back to the community that allowed me to gain that wealth but personally I don’t feel it’s my place to judge someone who doesn’t. There’s a quote (I tried googling it but couldn’t find who said it, I might butcher it and can’t give credit to the person so if you know please comment below) that says, “If you are a good person when you’re poor, you can still be a good person when you’re rich.” Work hard and be a good person!

If you have any thoughts or comments I’d love to hear them in the section below, also as always please share this with anyone you feel might enjoy it or find use of it!!

10 thoughts on “Billionaires Should Do What…??

  1. Yea Facebook arguments aren’t my thing either. I prefer to focus on the things I can change rather than talk about those that I have no influence over. I couldn’t find the link but the Bill and Melinda Gates foundation has done some interesting research about which types of charity spending add the most value to society. Is ending world hunger really the best use for our collective charity dollars?

  2. Completely agree. I think it’s selfish to think that others should have to give? I’d be curious how they answer, “what have you given?” I’m sure you would get a defensive answer, change of subject, or IF I had that much money. Give me a break people.

    Everyone has something they can give money (time). I think if you don’t start with yourself then you definitely shouldn’t be concerned with what others are or aren’t giving.

    Enjoyed the post!

    1. Hey thanks for reading JT! Yeah actually that was part of the paragraph that I wrote and then deleted, so I feel you haha. One of the points given was instead of buying a $1,000 suit they should buy a cheaper one and donate the excess money. I just thought to myself how many of us do the same thing maybe on a smaller scale but still, instead of buying $100 jeans we could buy $30 jeans and donate the extra money. It definitely would have been interesting to hear their answer on that question! I enjoyed your comment 🙂

  3. I constantly have this discussion with people (and it’s why I try to take my own spending very seriously). You line about someone else needing to make spending cuts while they themselves don’t optimize their spending is spot-on.

    I think the idea is that there is a real difference in the impact between the two. I buy that to some degree (it’s easier to save when you make more), but if you’re not willing to enact those behaviors in your own life, you can’t point fingers.

    1. I agree 100% Ms. Steward, that really was the point I was trying to make you summed it up perfectly for me! To much pointing fingers rather than focusing on what we can do. Thanks for your comment 🙂

  4. Ya, I don’t use Facebook much. Mostly because lots of things posted there are not helping me keep in touch with friends. Lots of people just complain in my Facebook feed. Instagram is where it’s at for keeping up with friends.

  5. Great post! I really agree with what you said. I like the point you made about the cars. Why do billionaires have to be the only ones donating?

    If that is their logic than no one should be able to buy anything nice because everyone should be donating their money instead.

    1. Exactly how I feel Cath! Not saying that we shouldn’t donate and be as generous as we can with those donations. Just think that maybe we should look at ourselves first and what we can do before pointing at others (even if they are billionaires). Thanks for reading and commenting!!

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