#1 By: Cory Doctorow, September 16th, 2013 17:59
#2 By: greenberger, September 16th, 2013 18:07
Oh sure, he's a bad guy now, but think of that wonderful trickle-down effect! He's single-handedly saving the world economy!
#3 By: Nick Gold, September 16th, 2013 18:13
You jest, obviously, but at least the money does continue to move around the economy once it's spent. OK, maybe not the most efficient use of it, but at least it doesn't END with the Prince's waste.
#4 By: snig, September 16th, 2013 18:20
Revitalizing our struggling hookers and blow industries?
#5 By: Jen Onymous, September 16th, 2013 18:24
#6 By: rocketpj, September 16th, 2013 18:36
He gave a billion to his kid for his birthday? Man, did I pick the wrong parents.
#7 By: Boundegar, September 16th, 2013 19:21
Damn I would have a hard time blowing through mere millions.
#9 By: Geth, September 16th, 2013 19:38
Inherited wealth is toxic. No one deserves to inherit so much power.
#10 By: Antiqueight, September 16th, 2013 19:43
Can I just have a teeny bit to pay off the mortgage please?
#11 By: Purplecat, September 16th, 2013 19:45
And for contrast, I'll leave this here:
Norway's sovereign wealth fund is forecast to be worth $1tr by 2020, but the debate in Oslo is not whether to split the fund - but when to split it, writes the BBC's Matthew Price.
#12 By: Nick Gold, September 16th, 2013 20:06
Well, I guess I'll ask you this -- what is worse, him blowing it all on ridiculous shit, or, hoarding it in a bank account? Clearly the money is of more utility to a greater number of people when it's being spent, right?
Don't get me wrong, I don't believe that it should be allowed, at all, for individuals to amass such wealth. In fact I think that above maybe a million bucks, maybe a bit more, all wealth should go back to the state after a person dies, and most of that money should go into public works, healthcare, education, and the like.
However, given our current system, I'd rather see disgustingly rich people spend their money, versus hoard it.
#13 By: Ygret, September 16th, 2013 20:13
Oh really? So ridiculous sums paid to already-rich performers, football players and car dealers, etc. somehow miraculous turns into a high-velocity money spigot enriching the world's poor? Gimme a break.
Its time to get out the guillotines and start another revolution. Anyone with over $5 million goes up against the wall, and their fortunes are taken to feed, educate and provide jobs for the poor. Anyone with a "net worth" of over a million has those amounts confiscated and from here on out, no one is permitted a net worth over $1 million. Inequality done. Ridiculously entitled, arrogant and murderous "elites" done. World hunger ended. Poverty ended.
#14 By: snig, September 16th, 2013 20:26
Depends on the type of bank, type of bank account it's in:
#15 By: Jorpho, September 16th, 2013 20:29
I couldn't quite make it all the way through the article. It is less about gratuitous excess and more about unimaginably tiresome legal wrangling. I'm left with the impression that giant swaths of cash existed only in the imagination of the people involved.
#16 By: Brian Sizemore, September 16th, 2013 21:06
Well you might as well shutdown most of NYC and large parts of California or any other major city then.
Plus if we are talking net here, I guess that means most people who own a home are then only going to be able to have what $500-700k? Not to mention cars and all other assets. A million in net worth isn't THAT much, not in places where a modest sized house is over $250k. Besides even with a million in the bank you'd still have a hard time living off the interest alone (not unless interest rates get up to the 1980's levels), so you are still required to work, but you gotta keep check of that 401k...cause that'd be in your net worth as well.
How about $10 million, that's much more reasonable of a goal to strive for and one that would provide reasonable comfort if one could obtain it.
#17 By: El Mariachi, September 16th, 2013 21:17
If they hoard it in a bank, the bank has that much more to lend out to small businesses and first-time home buyers.
I should have known better than to try to keep a straight face while typing that.
#18 By: Pat Race, September 16th, 2013 21:22
I bet no one answers his emails because they think it's a 419 scam.. "Dear sir, I am the brother to the Sultan of Brunei..."
#19 By: fuzzyfuzzyfungus, September 16th, 2013 21:29
That's one job that's easy to hire contractors to handle. If anything, it gets easier as the numbers get larger.
#20 By: jake0748, September 16th, 2013 22:29
Came here to check and see if someone had said that. Thanks for saving me the trouble.
#21 By: Smut Clyde, September 16th, 2013 22:56
private concerts by Michael Jackson and Whitney Houston (the former in a purpose-built, single-use stadium)
No no no! The private concerts were for the Sultan, not the Sultan's brother. Cory is confusing one hereditary kleptocrat for a different hereditary kleptocrat.
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