Prince Jefri of Brunei: how to blow billions


#1

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#2

Oh sure, he's a bad guy now, but think of that wonderful trickle-down effect! He's single-handedly saving the world economy!

Right...?


#3

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

Revitalizing our struggling hookers and blow industries?


#5

Christ, what an asshole.


#6

He gave a billion to his kid for his birthday? Man, did I pick the wrong parents.


#7

Damn I would have a hard time blowing through mere millions.


#9

Inherited wealth is toxic. No one deserves to inherit so much power.


#10

Can I just have a teeny bit to pay off the mortgage please?


#11

And for contrast, I'll leave this here:


#12

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

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

Depends on the type of bank, type of bank account it's in:


#15

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

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

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

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

That's one job that's easy to hire contractors to handle. If anything, it gets easier as the numbers get larger.


#20

Came here to check and see if someone had said that. Thanks for saving me the trouble.


#21

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.