How the rich get richer and why it works

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Quote from: Raflesia on April 08, 2021, 01:27:36 PM

Quote from: tyz on April 08, 2021, 01:02:11 PM

Quote from: zanezane on April 05, 2021, 11:52:22 PM

The reason that I can think of about why these billionaires are doing what they are doing and not giving back to society is because they are greedy, I think that it is the only reason, because if they weren't greedy, they would have already created changes that a lot of people are enjoying.

This is a one-sided view. Many billionaires are only billionaires because their company shareholdings are worth so much. It's not like they have billions of dollars lying around in their bank account and are hoarding it and don't want to spend it. On the contrary, the money is invested productively and ensures that the economy stays up and that jobs are created. A good example is Elon Musk. He is the richest man in the world, but only because his share in Tesla is very high and at the current valuation it is worth extremely much. If Tesla stock were to drop to $0 tomorrow, Elon Musk would be a poor man.

The average billionaire owns a lot of businesses and companies in property and other real estate, so if there are billionaires who store them in the bank it is ridiculous and save without cultivating it.
Elon Musk and Bill Gates, for example, they have many successful businesses and fairly good financial management and the shares that they have established can get the attention of a lot of the world so of course they will become billionaires of all time if they stay with their current position even when the shares increase in profit. there will be many centipedes from before, that is the billionaire who is able to cultivate and create jobs for the community.

The reason why the poor mostly stay poor is because of the wrong attitude to money. For them, money is food, a new iPhone or cool sneakers. For rich people, money is a tool and resource for creating new values and, as a result, increasing their wealth. By the way, not all rich people are successful, there are many examples of bankruptcies, ruin, etc. events. They have a lot to lose. You can't lose something if you have nothing. If you have nothing, you risk nothing. By the way, about the risks - only a fraction of a percent of low-income people plan to RISK and invest or start their own business, this is a fact, and this is the way to a vicious circle - little money> money just folds into a box> money is quickly consumed> again little or no money .. . Yes, I mean those who made their own fortunes and did not inherit

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Quote from: tyz on April 08, 2021, 01:02:11 PM

Quote from: zanezane on April 05, 2021, 11:52:22 PM

The reason that I can think of about why these billionaires are doing what they are doing and not giving back to society is because they are greedy, I think that it is the only reason, because if they weren't greedy, they would have already created changes that a lot of people are enjoying.

This is a one-sided view. Many billionaires are only billionaires because their company shareholdings are worth so much. It's not like they have billions of dollars lying around in their bank account and are hoarding it and don't want to spend it. On the contrary, the money is invested productively and ensures that the economy stays up and that jobs are created. A good example is Elon Musk. He is the richest man in the world, but only because his share in Tesla is very high and at the current valuation it is worth extremely much. If Tesla stock were to drop to $0 tomorrow, Elon Musk would be a poor man.

The average billionaire owns a lot of businesses and companies in property and other real estate, so if there are billionaires who store them in the bank it is ridiculous and save without cultivating it.
Elon Musk and Bill Gates, for example, they have many successful businesses and fairly good financial management and the shares that they have established can get the attention of a lot of the world so of course they will become billionaires of all time if they stay with their current position even when the shares increase in profit. there will be many centipedes from before, that is the billionaire who is able to cultivate and create jobs for the community.

tyz

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Quote from: zanezane on April 05, 2021, 11:52:22 PM

Quote from: iamsheikhadil on April 05, 2021, 11:25:11 PM

That's nothing but pure oppression, I wonder what thoughts come into big billionaires' minds when they sleep. They have so much money that their grandchildren or great great grandchildren won't even have to work for life, but still they try to prevent to give away some of it to the world in form of taxes in hope of being richer. But, they can't expand their stomach can they? To eat additional food after being more rich? Then after having so much money why so much tactics to avoid taxes? I think it's because the quite natural human greed Tongue

The reason that I can think of about why these billionaires are doing what they are doing and not giving back to society is because they are greedy, I think that it is the only reason, because if they weren't greedy, they would have already created changes that a lot of people are enjoying.

This is a one-sided view. Many billionaires are only billionaires because their company shareholdings are worth so much. It's not like they have billions of dollars lying around in their bank account and are hoarding it and don't want to spend it. On the contrary, the money is invested productively and ensures that the economy stays up and that jobs are created. A good example is Elon Musk. He is the richest man in the world, but only because his share in Tesla is very high and at the current valuation it is worth extremely much. If Tesla stock were to drop to $0 tomorrow, Elon Musk would be a poor man.

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Quote from: bakasabo on April 06, 2021, 01:54:57 AM

Quote from: zanezane on April 05, 2021, 11:52:22 PM

The reason that I can think of about why these billionaires are doing what they are doing and not giving back to society is because they are greedy, I think that it is the only reason, because if they weren't greedy, they would have already created changes that a lot of people are enjoying.

Why do you think rich people should share their wealth with others and change the society? It is not 100% clear why the other person is poor. Is it because he failed at something, or is it because he is lazy, or is it because "his current status suits him" ?

There is a good quote from Bill Gates: "If you were born poor, it's not your fault. But if you died poor, it's your fault." For rich people, money should always bring money. They work passively for the owners. And on the contrary, a poor person, even having some savings, does not run the risk of putting his money into circulation. He saves and waits for a rainy day, or spends money on entertainment or unnecessary goods. You need to be able to take risks, invest, and, of course, constantly gain new knowledge, expand your business and education.

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Quote from: sapnu on April 07, 2021, 09:24:56 AM

Not only those people in the upper class are wiser, they are also much more patient compared to those who belong to the lower class.

They understand the value of wait, and they have enough resources to continue waiting without having any problem at all.

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Not only in terms of waiting for the price or investments to rise but also in preventing themselves from spending too much money on expensive things that are not necessary.

Knowing what the needs and what are the wants, separating are very important. They are good in dealing with that.

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Most of the rich people might have been able to cheat their way to success and wealth, but others who were able to make it to the top surely spent their blood and tears with all the hardwork that's why they deserve their position right now.

Agree to that! those who do it the right way are very deserving to place at the top and gain respect.

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Some rich people might be considered evil considering the fact that they feed on the lower class working people but it could actually be considered as part of their wise strategies.

Strategies that's comes from a great mindset, plan everything whatever it is and harvest the sweet success.

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Quote from: Yatsan on April 06, 2021, 05:21:28 PM

The way rich gets even richer is because people who belongs into the upper classes are mostly wise men that maximizes all of their resources to be able to make themselves get even richer in a way that they are prioritizing getting themselves to be included into the trend of business and finance wherein they can somehow see an assurance that they will gain for the sake of themselves. It is not always into that general idea of not giving or being greedy that makes them even richer. They were just that wise enough to think of ways on how they can still be able to do something to make the most out of it on their resources. Not all rich men are up into doing bad things or dirty works to be richer but it is the reality that some or might be many are doing such to be able to get richer.

"not giving" or "greedy" are the 99% of the reason why they are rich. Now let's say you give me 10 million dollars and tell me to be as ruthless as possible and make as much money as possible without caring about anyone else, even about the laws and I will not be jailed or punished no matter how cruel I will be, there is still a chance that I could fail and bankrupt, you can let me do anything illegal with that money and I would still have a chance to fail.

However there is zero , and I mean this 100% correct ZZZEEEEEEROOOO chance that anyone can be a billionaire without hurting someone else. How? It could be wage theft, it could be overtime charges, it could be minimum wage slave labor, it could be basically anything that makes it hard for them to make it work and that is why it is nearly impossible for these people to actually be ethical, they are all unethical and immoral people that are greedy and that is why they should be regulated a lot more harshly.

sapnu

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Quote from: Yatsan on April 06, 2021, 05:21:28 PM

The way rich gets even richer is because people who belongs into the upper classes are mostly wise men that maximizes all of their resources to be able to make themselves get even richer in a way that they are prioritizing getting themselves to be included into the trend of business and finance wherein they can somehow see an assurance that they will gain for the sake of themselves. It is not always into that general idea of not giving or being greedy that makes them even richer. They were just that wise enough to think of ways on how they can still be able to do something to make the most out of it on their resources. Not all rich men are up into doing bad things or dirty works to be richer but it is the reality that some or might be many are doing such to be able to get richer.

Not only those people in the upper class are wiser, they are also much more patient compared to those who belong to the lower class. Not only in terms of waiting for the price or investments to rise but also in preventing themselves from spending too much money on expensive things that are not necessary. Most of the rich people might have been able to cheat their way to success and wealth, but others who were able to make it to the top surely spent their blood and tears with all the hardwork that's why they deserve their position right now. Some rich people might be considered evil considering the fact that they feed on the lower class working people but it could actually be considered as part of their wise strategies.

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The way rich gets even richer is because people who belongs into the upper classes are mostly wise men that maximizes all of their resources to be able to make themselves get even richer in a way that they are prioritizing getting themselves to be included into the trend of business and finance wherein they can somehow see an assurance that they will gain for the sake of themselves. It is not always into that general idea of not giving or being greedy that makes them even richer. They were just that wise enough to think of ways on how they can still be able to do something to make the most out of it on their resources. Not all rich men are up into doing bad things or dirty works to be richer but it is the reality that some or might be many are doing such to be able to get richer.

Mauser

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Quote from: bakasabo on April 06, 2021, 01:54:57 AM

Quote from: zanezane on April 05, 2021, 11:52:22 PM

The reason that I can think of about why these billionaires are doing what they are doing and not giving back to society is because they are greedy, I think that it is the only reason, because if they weren't greedy, they would have already created changes that a lot of people are enjoying.

Why do you think rich people should share their wealth with others and change the society? It is not 100% clear why the other person is poor. Is it because he failed at something, or is it because he is lazy, or is it because "his current status suits him" ?

I'm sure that not all rich people are greedy. They share, but some of them dont announce that on public. And it is not always money what they share. They can share also different stuff, knowledge, experience, which is far more valuable than just money.

I think there is no big difference between rich people today and rich people in the past. In the past you were usually rich if you are born or married into the Royal family. The wealth was concentrated among a few lucky families, like it is today. And its just not in humans nature go give away all your money to poor people. Somethings never change.

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Quote from: zanezane on April 05, 2021, 11:52:22 PM

The reason that I can think of about why these billionaires are doing what they are doing and not giving back to society is because they are greedy, I think that it is the only reason, because if they weren't greedy, they would have already created changes that a lot of people are enjoying.

Why do you think rich people should share their wealth with others and change the society? It is not 100% clear why the other person is poor. Is it because he failed at something, or is it because he is lazy, or is it because "his current status suits him" ?

I'm sure that not all rich people are greedy. They share, but some of them dont announce that on public. And it is not always money what they share. They can share also different stuff, knowledge, experience, which is far more valuable than just money.

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Quote from: iamsheikhadil on April 05, 2021, 11:25:11 PM

That's nothing but pure oppression, I wonder what thoughts come into big billionaires' minds when they sleep. They have so much money that their grandchildren or great great grandchildren won't even have to work for life, but still they try to prevent to give away some of it to the world in form of taxes in hope of being richer. But, they can't expand their stomach can they? To eat additional food after being more rich? Then after having so much money why so much tactics to avoid taxes? I think it's because the quite natural human greed Tongue

The reason that I can think of about why these billionaires are doing what they are doing and not giving back to society is because they are greedy, I think that it is the only reason, because if they weren't greedy, they would have already created changes that a lot of people are enjoying.

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In simple or shorter explanation they have the privilege to invest in something they want without risking big. They have many sources of income that they can afford to risk a portion of their money to try a new investment. They can afford to pay someone to do it for them or they can enroll to those expensive courses to widen their knowledge about that field. That is the reality that we live in, hard work is not enough to be rich like them.

This is also the reason why there are middle-income or below type of people that are very gullible to some investment schemes which is run by these wealthy people who are taking advantage of it to maintain their status.

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Deep analysis but it doesn't work similar in every part of the world, in some countries people follow the words of rich people for no reason so they become the supporter of the party who is in the favour of rich people. Even though rich people are supposed to pay more taxes they get tax exception for everything when the ruling party is supporting them but again the party takes the money from rich people which can be covered for tax purposes.

That's nothing but pure oppression, I wonder what thoughts come into big billionaires' minds when they sleep. They have so much money that their grandchildren or great great grandchildren won't even have to work for life, but still they try to prevent to give away some of it to the world in form of taxes in hope of being richer. But, they can't expand their stomach can they? To eat additional food after being more rich? Then after having so much money why so much tactics to avoid taxes? I think it's because the quite natural human greed Tongue

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Quote from: blckhawk on April 05, 2021, 07:02:21 AM

I also doubt that politics would be the key in order to become richer, perhaps this will work in some way but not all the time because for someone to become even richer he must have a ton of income. Like rich people look for more possible ways to multiply their money, they are not just leaving their money sitting in the bank but rather they take the risk and invest it in assets or businesses. Politics would be just a bonus. Besides, if we will notice most rich people not only own a single company but multiple businesses. One more thing that makes them richer, the connections, it is one of the most significant assets that rich people do have.

You may think that you do not have to get involved with politics if you are a rich person but your accountant and other rich people get involved for you instead. Just to give an example Warren Buffet is a guy who has talked about how he should be paying more taxes because he is making a lot of money and he can afford to pay more taxes without taking a big hit. And you know what happened? Even though he didn't get involved with politics, he just let it be and others like amazon and so forth got involved and dropped the federal taxes to zero for most wealthy companies.

This is why even if you are personally not involved with politics as a wealthy person, there is another wealthy person that bribes the politicians to help him and coincidentally you as well. This is why I think if politicians never got richer, just got wages and no other income, no bribes, no nothing, we would be living a lot better.

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Quote from: dimonstration on April 04, 2021, 12:07:22 PM

There are rich people who do not needs to be involved in politics to be able to get rich and richer, its just that most of the rich needs connection to grew their businesses and sometimes politics and avoiding some laws will help them do that. Many rich people do not prefer putting their money in just bank they make business to make more business and to expand and create more opportunities its taking risk whether the business will succeed

That is true when you are living in an advance country because you have the means to make your business bloom since there will be different places that will need specific kind of businesses but when you are living in a Third-world country, having a political connection is such a big deal because they can basically create a monopoly type of business in which its price or value to achieve that service is too high. Having connections politically can really be a big deal and it can both be destructive and helpful to the people who might encounter that type of business.

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Quote from: bakasabo on April 05, 2021, 05:46:55 AM

I think that "rich get richer" only because they and their relatives (who showed them examples) have more options to risk or to try new.
If a regular persons lives from one salary to another and manages to save few hundreds (which he will spend on a vacation 1-2 times per year probably). Then rich people can try investing different things and scenarios. If they fail in 9/10 investments, due to the amount invested, this 1/10 success case makes them cover all of their losses imo.

Actually we can see examples of rich people how to manage investments properly even though there is a lot of money, it can be said that the salary is sufficient in one year of life, they will still try the latest in investing because this does push them into habits and indeed if we only try to collect old money will be very difficult, even a lot of doubts occur, but I believe everyone can do that in the sense that if you want to be rich you still work hard because in this case you don't look at anyone except in real.

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Quote from: dimonstration on April 04, 2021, 12:07:22 PM

There are rich people who do not needs to be involved in politics to be able to get rich and richer, its just that most of the rich needs connection to grew their businesses and sometimes politics and avoiding some laws will help them do that. Many rich people do not prefer putting their money in just bank they make business to make more business and to expand and create more opportunities its taking risk whether the business will succeed

it depends if what they like , few rich dont like politics but there are big money in politics thats why they forced to take this field and its easy to build a connection because your doing campaigns when your involved in politics . avoiding the law dont mean avoiding politics but it can also be avoiding paying a tax , thats bad . we should not avoid the law at all cost . indeed rich people have bigger goals and that makes them wealthier than ever

In a sense, politics makes it possible to gain power, and power is a kind of drug, and many cannot live without it. But politics also gives you the opportunity to preserve and also increase your wealth. It is because of this that all political circles have a strong connection with each other, lobbying for various laws for their environment.

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With cryptocurrency you need the ability to invest and leave it to get rewarded. There shouldn't be any timeline expectation for profit. This isn't possible with the common people or the one who live with their daily earnings. This is the reason why rich get richer. Here some exceptions can be seen, who are lucky to get good return out of small investments.

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Quote from: dimonstration on April 04, 2021, 12:07:22 PM

There are rich people who do not needs to be involved in politics to be able to get rich and richer, its just that most of the rich needs connection to grew their businesses and sometimes politics and avoiding some laws will help them do that. Many rich people do not prefer putting their money in just bank they make business to make more business and to expand and create more opportunities its taking risk whether the business will succeed

I also doubt that politics would be the key in order to become richer, perhaps this will work in some way but not all the time because for someone to become even richer he must have a ton of income. Like rich people look for more possible ways to multiply their money, they are not just leaving their money sitting in the bank but rather they take the risk and invest it in assets or businesses. Politics would be just a bonus. Besides, if we will notice most rich people not only own a single company but multiple businesses. One more thing that makes them richer, the connections, it is one of the most significant assets that rich people do have.

Matimtim

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Its simple, the rich man can invest big amount of money thus they can earn big amount of money in that way, the same how much they're going to invest; that the main reason why they're going richest.

Topic: How the rich get richer and why it works (Read 680 times)