Seven men together are twice as rich as 16,800,000 median Black households, or 42,000,000 citizens

They are all white.

They are all men.

They are all rich.

But you never hear politicians, professors or protestors criticize these richest men in America, because wealth has its privileges and allows immense power.

It’s not just being able to buy your children entrance into the best colleges, or owning a $100 million house that you visit for just one week in the summer, or traveling in private jets, or even owning yachts that can cost as much as Queen Mary 2.

Great wealth also allows you to pay for political campaigns and earn eternal gratitude and favors to you and your elite class.

For a dire lesson in inequality, contrast the entitled rich to the median Black family in America, whose net worth is $16,300.

There are 16.8 million Black families, which equals 42 million individuals. Together, their total wealth is $274 billion, less than $7,000 a person.

If you are super rich it doesn’t take long to make that Black person’s $7,000 in net wealth. For example, last year Jeff Bezos earned $7,000 every five seconds of every minute of every hour of every day for 365 days.

Jeffrey Preston Bezos

Three men have more combined wealth than all 42,000,000 Black citizens of America – Jeff Bezos ($145 billion), William Gates ($99 billion), and Warren Buffett ($85 billion) – a total of $330 billion, versus national median Black wealth of $274 billion.

Add four more men – Larry Ellison ($65 billion), Mark Zuckerberg ($61 billion), Michael Bloomberg ($57 billion) and Larry Page ($55 billion) – and you reach a total of $567 billion – more than twice the wealth ($274 billion) of America’s Black citizens.

That $567 billion is enough to send a check for $5,670 to every family (100 million) in America. It could build 100,000 schools at a cost of $5.67 million each, or buy 22,680,000 new cars at $25 grand apiece.

After the top seven  the Charles and David Koch have $50.5 billion each. Those sons of the founder of the John Birch Society are the same guys who invested $800 million in the last election to put their candidates into office. That was less than one percent of their wealth and it created a host of friends in high places.

Worldwide, there are 2,153 billionaires, including 256 women, with a total wealth of $9.1 trillion, up from $7.6 trillion last year, proving once again that the rich do indeed get richer and richer, year after year.

The following video with Jane Goodall and others from DAVOS 2019 is more than worthwhile to watch:

 

The very rich cannot only pay for QM2-size yachts, they have enough $$ to purchase entire nations!

Captain Kevin Oprey stands in front of the Queen Mary 2.

Instead of playing the lottery or completing my 2018 Income Tax, yesterday I imagined I was Jeff Bezos

It was a typical day with nothing to do except harass the workers at Whole Foods, so I decided to buy a boat.

But not just any boat. A big boat – in fact, a ship. Large enough to carry all my “friends” and impress the other rich folks, including Zuckerberg and Gates and that goofy, Bloomberg guy .

My third-assistant personal manager (day side) had a suggestion – build a yacht that’s a duplicate of Queen Mary 2 (QM2). He explained the benefits:

  • At 151,200 tons, the ship will handle the biggest storms.
  • It will carry 2,620 passengers.
  • The 1,253 crew will give great service
  • The ship will go 30 knots an hour, so pirates – no problem..
  • The cost was only $521 million to create it.
  • Our China connection means we can surely build it cheaper.

Being brave Bezos, I decided to ahead, but I had to ask my accountant, where could we get the money? He was right on top of the problem:

Jeff, not to worry. We’ll only have to use the income that we earned one week last year. We’ll pay cash.

This was surprising. Was there a week last year when I made enough money to pay for QM2?

My accountant explained that the Bezos’ holdings made him personally enough income in 2018 to buy a new QM2 every week.

“Actually,” he said with a pensive stare, “you earned almost enough to buy two QM2s every week last year.”

Enough musing….

Time for me to wake up and finish my income taxes.

Same earnings. Same expenses as last year. New law says I have to pay more, thanks to bipartisan collusion in Congress.

Now, back to Bezos. He is not alone in having obscene wealth.

If we add up the fortunes of the top ten richest persons in the world, the total is $808 billion.

Here’s the list:

1:   $140,000,000,000.00Jeffrey Preston Bezos
2:   $97,000,000,000.00…..Charles & David Koch*
3:   $93,500,000,000.00…..William Henry Gates III
4:   $84,300,000,000.00…..Warren Edward Buffett
5:   $83,200,000,000.00…..Amancio Ortega Gaona
6:   $72,200,000,000.00…..Mark Elliot Zuckerberg
7:   $69,700,000,000.00…..Carlos Slim Helu
8:   $62,100,000,000.00…..Lawrence Joseph Ellison
9:   $53,300,000,000.00…..Michael Rubens Bloomberg
10: $53,000,000,000.00…..Bernard Jean Étienne Arnault

*Two Koch brothers worth $48.5 billion each!

Did you ever wonder what would happen if these rich men decided to pool their $808 billion and make really big purchases – for example – entire nations, based on each country’s net worth?

Pick one or more, depending on where you stand in the top ten:

 South Africa $786 Billion
 Finland $697 Billion
U. A. E.  $684 Billion
 Colombia  $616 Billion
 Malaysia  $598 Billion
 Thailand  $525 Billion
 Czech Rep.  $524 Billion
 Philippines  $518 Billion
 Peru  $467 Billion
 Pakistan  $422 Billion
 Argentina  $345 Billion
 Romania  $317 Billion
 Vietnam  $307 Billion
 Hungary  $294 Billion
 Kuwait  $278 Billion
 Iran  $272 Billion
 Iraq  $272 Billion
 Qatar  $265 Billion
 Bangladesh  $240 Billion
 Morocco  $216 Billion
 Libya  $252 Billion
 Algeria  $241 Billion
 Egypt  $212 Billion
 Luxembourg  $188 Billion
 Slovakia  $151 Billion
 Oman  $144 Billion
 Lebanon  $140 Billion
 Nigeria  $139 Billion
 Iceland  $138 Billion
 Bulgaria  $138 Billion
 Slovenia  $133 Billion
 Croatia  $120 Billion
 Tunisia  $120 Billion
 Ecuador  $116 Billion
 Costa Rica  $111 Billion
 Angola  $102 Billion
 Uruguay  $97 Billion
 Cyprus  $91 Billion
 Sri Lanka  $82 Billion
 Panama  $77 Billion
 Serbia  $73 Billion
 Jordan  $72 Billion
 Kazakhstan  $62 Billion
 El Salvador  $61 Billion
 Estonia  $60 Billion
 Honduras  $58 Billion
 Kenya  $57 Billion
 Lithuania  $57 Billion
 Ukraine  $55 Billion
 Latvia  $53 Billion
 Myanmar  $52 Billion
 Azerbaijan  $52 Billion
 Georgia  $49 Billion
 Malta  $49 Billion
 Bolivia  $48 Billion
 Bahamas  $45 Billion
 Bosnia  $40 Billion
 Paraguay  $38 Billion
 Albania  $37 Billion
 Turkmenistan  $37 Billion
  Nepal  $35 Billion
 Mauritius  $34 Billion
 Ivory Coast  $34 Billion
 Cambodia  $33 Billion

Finally, imagine you plan to please the wife on Valentine’s Day, even though you’re on the bottom of the top ten list:

Hon, have I got a surprise for you. We’re taking a trip on an ocean liner – the CEO Bezo 1. And, we’re going to the Bahamas.

“Why the Bahamas,” she asks. “We’ve been there a dozen times.”

“Because I’m going to greet my people. I just bought the entire country for $41 billion – a ten percent discount off of book value.”

I didn’t mention that Jeff just settled on the combined purchase of Bolivia and Paraguay for his latest mistress. Soon enough, my wife will read about it in the National Enquirer or People Magazine

It’s hard to keep up with the Bezos.

World’s richest man uses OTS scorecards and “walks” to manage his Whole Foods workers

A recent report on the Jeffrey Preston Bezos‘ supermarket chain reminded me of when the owner of our newspapers hired an MBA efficiency expert, who had to justify his too high pay.

Amazon’s top man

Until then, middle management had perks – use of a shore home for a week, annual merit raises, partnering of budget preparation. Soon, all that ended. Instead, everyone received a piece of paper with spaces and a title: “Time Allocation.”

The sales folks carried their paper with them in the car and at the office, noting their activity for each prior 15 minutes – all day. Whom they saw? What they said? If they sold? Even noting when they had lunch!

My piece of paper was different. The same reporting every 15 minutes, but more detail. Columns for admin, sales, budget, travel, reports, conference, etc. The percentage of time at each of these disciplines was to be recorded. For example: Continue reading “World’s richest man uses OTS scorecards and “walks” to manage his Whole Foods workers”