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Earning money requires hard work. And especially when you want to become a ‘billionaire’! I just cannot imagine. To give you a little context, a billion dollars is one thousand million.
Thus, if someone has even one billion dollars and decides to spend $10,000 per day, it will take that person nearly 274 years to spend all that one billion dollars alone.
It is truly a crazy amount of money to have for one person. This makes me wonder… how can a single person earn such a humongous amount of money in a single lifetime? And is it ethical to be a billionaire in this world full of poverty, hunger and hardship?
It is very interesting to see the rising number of billionaires nowadays. According to the Forbes billionaire list 2020, currently, there are more than 2200 billionaires across the world.
The general feeling of people is that having rich people is good for the society as these billionaires may help people in need in a very significant way.
Read More: Mark Zuckerberg Becomes The Third Richest Man Of The World After Adding Another $30 Billion To His Net Worth In Times Of Economic Fallout
But in reality, no billionaire is coming to eradicate world poverty or hunger even if they have the means to do it. They might help in a few things and start some charities and foundations.
But sadly, that’s just it. I continue to be disappointed when I see these rich people only hoard more and more money, rather than using it to help our society.
According to Jeffrey Sachs, a leading world expert on economic development and the fight against poverty, ending poverty is very much possible and that too at a very low cost. He states that it will take only $175 billion per year for 20 years to eradicate poverty. This amount is less than 1 per cent of the entire income of the world’s richest countries.
Also, it’s not as if these billionaires are giving out jobs. The mega-companies that used to hire thousands of people earlier are now laying off employees.
This is because of the easy availability of resources digitally. Thus, now employees are less but the profits are more, which goes into the pockets of the already rich owners of the company.
I understand everyone wants to earn money and live a comfortable, safe and financially sound life. Maybe a few millions are enough to live your dream. But a billion? I doubt that.
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This post is tagged under: Ethical Billionaire, Billion, million, poverty, Forbes billionaire list 2020, rich, charities, foundations, Jeffrey Sachs, economic development, mega-companies