Should billionaires exist?

An opinionated article about the reasoning behind why there shouldn’t be billionaires

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Should billionaires exist?

Photo Courtesy to the Calculator Site

Photo Courtesy to the Calculator Site

Photo Courtesy to the Calculator Site

Photo Courtesy to the Calculator Site

Sally Park, Staff Writer

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2,208. This is the number of  existing billionaires currently according to Forbes. 2,208 billionaires who currently have the ability to eradicate some of our most pressing national and global problems occuring throughout our society. A fraction of a billionaire’s wealth could relieve the Flint’s water contamination crisis or could be used to eradicate world hunger for years to come. Billionaires could solve most if not all of our world’s most pressing problems yet people are continuously suffering, starving, and dying. Which leads us to the question, is it ethical for these billionaires to exist in our modern society?

My quick answer to this problem is a simple, no. A billion dollars, to put into perspective, is equivalent to 1,000 times a million. Existing billionaires make around 1,000 times a million per year at minimum. Jeff Bezos, the founder of Amazon, has an annual salary of 152.9 billion dollars. This number is unfathomable to many taking into account that the annual average salary of an American citizen is $56,516. Taking these facts into consideration, it is clear to see that even a small fraction of these billionaire’s annual income would be more than sufficient to allow them to live comfortably for years to come. So why not donate what they can to those who are ultimately going to die because of their lack of monetary support? These billionaires are more than capable of eradicating one of the most leading causes of death in a snap of a finger yet they’re choosing to instead keep it to themselves.

One may argue that billionaires, who are indeed self made, are fully deserving of the money they have made. This, as true as it is, is a mere excuse to justify why they haven’t used their money for the better of the world. Ultimately, there would be no personal need of that much money if you were to obtain a certain sum. There would be a certain point when you could purchase anything your heart could ever desire, and there would still be a plentiful amount of money leftover. If the money these billionaires are earning aren’t put into ethically productive use and not even being invested to further their already flourishing business, then how much money would finally be deemed enough? Furthermore, would a highly successful business have greater personal importance than the people who are currently dying preventable deaths?

It is natural to assume that if one was to obtain such great wealth, they would want to enjoy the luxurious benefits correlated with money. But in a society filled with hunger, violence, poverty, etc. wealth seems to be one of the most impactful thing that could solve these issues. Whether or not billionaires are willing to give up a portion of their wealth is up to them. However which ever side of the argument you support, it’s important to be aware and educated on how impactful money could have in our current society and how it could benefit our global community for the better.

 

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