alt Hacker NewsI’m not against wealthy people, and America has always had a Tycoon class…
But allowing a single person to go from $20B to $130B in assets in 10 years feels like a pretty obvious policy failure.
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Why? It's not like this money is in a giant vault filled with money and he swims around it. All of this money is being put to use in the U.S. economy.
It always strikes me as interesting that this entire community was founded around startups and providing value to customers and making money in return, however it's now mostly dominated by those who think it's wrong to provide value and get money in return
Who exactly do you suggest to manage these $130B better than him? Government? Pension fund? An example of a company managed by pension funds is Intel.
The whole point of capitalism is to put chunks of economy under control of capable people. If they managed to get rich then on average they're much better at that than the general population.
This is not an unpleasant side-effect, this is the main reason the whole system exists, remove it and it's not capitalism anymore.
I don't disagree with the sentiment, but Ballmer essentially made that money by simply not selling his Microsoft stock.