To boggle at the concept of earning £1 million a day......

[MistressoftheDarkSide]

www.theguardian.com/business/2021/mar/05/the-very-private-life-of-the-man-on-britains-biggest-salary

That's it really - I mean, I'm sure he has worked very very hard and made many sacrifices along the way etc etc..... (said with only the merest smidgeon of cynicism).

I just cannot get my head around how one would spend that much money?? Or how exactly it has been earned and is considered to be justifiable in terms of productivity versus return?

I hold my hands up, I'm crap with money and have never had alot even by possible MC standards, and the virtual nature of money is also a bit of a conundrum to me when it's on this sort of scale - it's like a parallel unverse to me altogether.

As to the investment in Extinction Rebellion, - it sounds very worthy, but is it though??

I'm not exactly envious, more agog at the absolute disparity of wealth between the top and bottom of society I suppose. And why should I even give it headspace? I feel an odd sort of fascinated detachment - like I've discovered a new species or something!

Thoughts?

He put 4 billion into a children's charity too...... I can't bring myself to moan if he's doing stuff like that

I just cannot get my head around how one would spend that much money??

Did you read the article? I think it answers all your questions.

I agree that is a good thing Maybe he is a quiet and genuine philanthropist.

OK I hold my hands up. A second more thorough reading does paint him in a quite favourable light.

I am somewhat cynical by nature I suppose.....

I think it was just the numbers that made my brain leak out of my ears a bit!

I like the sound of him tbh. He does seem to put his money where his mouth is regarding giving his wealth away........ I'd probably make it my lifetimes ambition to eat every food that existed and end up dying covered in a bed sheet surrounded by snacks from around the world if I had that kind of money.

@JesusAteMyHamster

Me too LOL!

I would suggest that wealth inequality like that shouldn't exist in a healthy society in the first place.

No one should earn 11,000 times the average wage. If this were statistical analysis or a science experiment you'd consider it should be impossible.

The man might be doing some good things with his money, but at that level of inequality it's mandatory in my eyes. Our society shouldn't allow that kind of inequality to come into existence in the first place.

But I like to think I'd give some away too

@ClaudiaWankleman

I think you've nailed some of my discomfiture there very astutely.

This came up next to the thread about NHS workers getting a 1% pay rise, and illustrates the huge problems in the way financial rewards are structured - no matter what small change he donates to charity

Yes, in context it really does highlight current inequality.

Maybe he could donate to NHS workers next?

@MistressoftheDarkSide

I think it was just the numbers that made my brain leak out of my ears a bit!

I can’t argue with you there!

No one person is worth £1 million a day. I don’t care how March he gives to charity. Charity wouldn’t be as necessary if people weren’t as greedy.

Just think of the 45-50% tax paid on that. Or is that but not relevant when bashing high earners.

@ClaudiaWankleman

I would suggest that wealth inequality like that shouldn't exist in a healthy society in the first place.

No one should earn 11,000 times the average wage. If this were statistical analysis or a science experiment you'd consider it should be impossible.

The man might be doing some good things with his money, but at that level of inequality it's mandatory in my eyes. Our society shouldn't allow that kind of inequality to come into existence in the first place.

Oh and who is going to decide what those things are that he should with his money, yes his money. And what exactly is wrong with inequality. As long as there is a minimum standards of living for everyone, why does it grate on you if someone has a private jet. Envy?

Shame more aren't like him with the philanthropy.

I would suggest that wealth inequality like that shouldn't exist in a healthy society in the first place.

There wouldn't be a healthy society if wealth wasn't allowed in the first place.

Your work, your art, your business produces money, of course you are entitled to that money. Not everyone has to be mediocre, some people will achieve exceptional levels, in various areas. Good for them. They raise the general level a bit.

Envy?

If you’re saying that inequality should exist in society so that we are all motivated @sst1234 (which I reckon is probably the subtext to your post) then this man earning 11,000 times the average wage isn’t going to motivate the average person into working harder and being more productive. It’s too far removed.

I don’t believe everyone has to, or should, earn the same. I do believe that the current disparity we see in the world is morally wrong though. The gap between rich and poor should be closed. There are currently no minimum standards for how someone should live and this man’s wealth perpetuates that fact.

Saying ‘it’s his money he should spend it one what he want’ suggests you’re bothered about freedom too. I believe that lack of money, privilege and all that comes with it restricts freedom far more than redistributing wealth would.

@ClaudiaWankleman

What your arguing for is a race to the bottom. If one person is poor, no one is allowed to rich or not beyond whatever you deem acceptable anyway. Why does it matter what the rich earn? Really why? Why this fixation with the rich all the time? Why can’t you argue for a higher living wage without making it about the Rich. Unless you have Marxist beliefs that it is a zero sum game and if the rich are rich then they must be taking from the poor. Seeing it as a winner takes all it absolutely envy, nothing more, nothing less.
Maybe consider that both can exist. Rich getting richer and the standard of living of the poor going up at the same time. What good is equality if things at the bottom don’t improve and you just make rich less rich. What purpose does that service other than feeding the aforementioned people envy?

I can understand your discomfort with these figures and many of the world's richest people have increased their wealth significantly over the last year despite their apparent. charitable giving. Watch the video in the link, Russel Brand explaining how Donor Advised Funds and Foundations work, it's not quite what most people think. The response of the world's billionaires at DAVOS when a speaker suggests they should all pay more tax offers an interesting insight which should encourage more of us to question their motives for so much "charity".

The article mentions his support of ER, someone is quoted as saying its unsurprising he wouldn't wait for governments to act with regard to environmental issues; it's worrying that people are happy for wealthy unelected individuals to be shaping policy on global issues. The lifestyles of the seriously wealthy have a far bigger carbon footprint than those of us mere mortals, there is no amount of vegetarianism or yoga which can offset the energy requirements of large houses and international travel. It must be very easy to support a cause whose methods lead to serious disruption for so many safe in the knowledge their protest won't directly affect you.

Maybe he is a genuinely generous person but I'm becoming increasingly cynical that very wealthy people are using philanthropy to minimise tax liabilities whilst shaping policy on many issues; we did not elect them.

I don't like the sound of him.
I can't justify that amount of money each day. It's grotesque.
The divorce from his wife and the lack of financial support for her? The man he crushed describing his style as poison. I think that's very interesting. No one will like it if you buy their company / get them sacked. But to describe him in that way? I bet he is a shark. And an unpleasant one.

No I’m not doing any of the things you’ve suggested @sst1234

I just think this grotesque level of wealth inequality is wrong. The gap between richest and average shouldn’t be 11,000 times the average wage. It should be much smaller. We would all benefit.

Are you super rich or delusional that you have the ability to become so?

@ClaudiaWankleman

No I’m not doing any of the things you’ve suggested *@sst1234*

I just think this grotesque level of wealth inequality is wrong. The gap between richest and average shouldn’t be 11,000 times the average wage. It should be much smaller. We would all benefit.

Are you super rich or delusional that you have the ability to become so?

@ClaudiaWankleman You still haven’t explained anything beyond your idealistic stance? What makes you think closing the gap makes the people at the bottom better off? how would we all benefit from the gap being smaller. Will you put on your Robin Hood cape on to re-distribute, is that the plan? Hyperbole is all well and good but pragmatism is better as it actually gets things done rather than focusing on soundbites.

@ConsuelaHammock

No one person is worth £1 million a day. I don’t care how March he gives to charity. Charity wouldn’t be as necessary if people weren’t as greedy.

But we vote to put power into the hands of 650 individuals who are inexperienced at best and dubious at their worst.

Perhaps this man is just one of 650 other individuals who individually actually do more effective good for our country than the other collective 650.