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If this is the new age of robber barons, where is all the money going? Or being physically manifest? In the age of Rockerfeller, etc. they built mansions that
by supernova87a 5y ago
If this is the new age of robber barons, where is all the money going? Or being physically manifest? In the age of Rockerfeller, etc. they built mansions that other people could envy/detest and see the excesses. Where is all the money in this new class?
- aazaa 5y agoIn financial assets.
- newsclues 5y agohttps://www.mansionglobal.com/articles/mark-zuckerberg-buys-600-acres-on-kauai-in-53-million-deal-227124 https://www.mansionglobal.com/articles/mark-zuckerberg-buys-...
- oblio 5y agoThere was a funny article a bit later after he bought that property, related to one of his comments. "Zuckerberg comments that people do not really need privacy anymore while buying himself a Fortress of Solitude" :-)
- dogsgobork 5y agoZuck's trying to catch up to Larry Ellison who owns nearly the entire island of Lanai in Hawaii.
- possibleworlds 5y agohttps://en.wikipedia.org/wiki/Putin%27s_Palace https://en.wikipedia.org/wiki/Putin%27s_Palace
- ip26 5y agoI’m always struck by how, apart from the desirable locales, the homes of the wealthy are pretty much the same as normal houses (just nicer/bigger). Mansion fit for a king… but the 2x4’s and wall sockets and vanity might have all come from Home Depot. Same cracking pavement, mold, drafts, etc. It’s all very nice of course. But here are the richest people on the planet, by grotesque margins, and all that gets is more square feet and a nice site?
- trompetenaccoun 5y agoThere's only so much home you can live in. Rather than giant castles, which in the past were necessary for protection, to house servants and your private army, the mega rich today rather have lots of properties around the world. Plus yachts, and private airplanes, etc... Take a look at this: https://landreport.com/2021/01/bill-gates-americas-top-farmland-owner https://landreport.com/2021/01/bill-gates-americas-top-farml... These people are basically our modern day version of the feudal lords of the past. Definitely not like normal people, despite the houses looking like that. They have a lot of power.
- newsclues 5y agoDidn’t Ellison have a house built in Japan, disassembled and rebuilt in America for him? Hardly Home Depot craftsmanship…
- deleted 5y ago[deleted]
- canadianfella 5y agoYou mean that?
- deleted 5y ago[deleted]
- elliekelly 5y agoMars Missions are the new Newport Mansions.
- qntty 5y agoMostly equity is large corporates. In other words, power.
- cm2187 5y agoRocket programs.
- menzoic 5y agoPrivate Islands
- kokanator 5y agoConsolidation of finance is the consolidation of power. These two have always walked hand in hand with very few exceptions ( ie, Gahndi ). Currently, the consolidation is occurring in financial vehicles and global corporations. ( a new kind of colonialism )
- potatoman22 5y agoHow is that a kind of colonialism? In addition, what's your definition of colonialism?
- spoonjim 5y agoColonialism = guys with guns come from somewhere else, land in your backyard, and give you orders. The only difference now is that the guys have money instead.
- AnimalMuppet 5y agoThat's... kind of always true though? If you want peoples' money, you have to give them what they want.
- Applejinx 5y agoPast a certain point what you want has nothing to do with it
- kokanator 5y ago>How is that a kind of colonialism? In addition, what's your definition of colonialism? It is a bit of a questionable correlation I would agree. Global corporations enter countries and begin to hold sway and control over the local governments. Though there is no settlements there is a strong financial force entering the countries. I know this isn't new but technology has compounded the effect. Think the Arab Spring ( a lot would agree this was a good thing, its just an example ). This effort was mobilized/made possible by technology firms that entered those countries allowing them to place large pressures on the systems and change them. Good or bad is not the argument the question is if the external corporations were able to sway the direction of the countries. In addition, I once heard a very famous investor from Omaha state they are able to sway the economic futures of countries. ( Hopefully they are benevolent in this )
- burkaman 5y agoI mean, they're still building enormous mansions. It might be less public now, because now they can afford to buy so much land around the mansions that nobody can see them. Also, since travel is so easy now, it might be more attractive to buy 100 luxury apartments around the world and a few private jets to get between them.
- Animats 5y agoGreen Gables, 74 acres in Woodside, CA, is for sale again, if anyone has US$135M. Who lives here? [1] [1] https://earth.google.com/web/@37.45398166,-122.30164715,204.31507696a,507.51993954d,35y,0h,0t,0r https://earth.google.com/web/@37.45398166,-122.30164715,204....
- deleted 5y ago[deleted]
- nikanj 5y agoNobody lives in the luxury houses, they’re just a convenient way to stash away money.
- supernova87a 5y agoThat place is an overgrown mess! I wonder who would want to live there.
- Animats 5y agoLand. Bill Gates owns 242,000 acres of farmland. Jim Bezos owns 420,000 acres, mostly in Texas. John Malone owns 2.2 million acres. None of them made their money in land or farming.
- spoonjim 5y ago242,000 acres of farmland is very little.
- evdubs 5y agoIt's 378 square miles. For comparison, Rhode Island is 1,214 square miles.
- missedthecue 5y agoThere are 915 million acres of farmland in the USA
- ajmadesc 5y agoTo whom? 500 acres can earn a modest living for a family of four.
- LimaBearz 5y agoFarmland is also a loophole, not that I have any evidence that gates is skirting the law it’s not uncommon for the rich to get land, put a chicken coup on it with two chickens, and then claim it as farmland for a crazy property tax reduction.
- gre 5y agoBill Gates is the largest landowner according to some recent articles. So how much does he really own, or is only farmland considered?
- spoonjim 5y agoSame stuff: huge houses, harems of mistresses, private islands, luxury boats, private jets.
- IAmGraydon 5y agoAre you being serious? It doesn't take much searching to find many, many examples. Here's one. https://www.bloomberg.com/news/features/2021-05-07/jeff-bezos-s-new-superyacht-heralds-roaring-market-for-big-boats https://www.bloomberg.com/news/features/2021-05-07/jeff-bezo...
- u678u 5y agohttps://www.superyachtfan.com/lists/biggest-yachts https://www.superyachtfan.com/lists/biggest-yachts https://robbreport.com/motors/marine/largest-yachts-2837827/ https://robbreport.com/motors/marine/largest-yachts-2837827/
- onlyrealcuzzo 5y agoHow about The Mountain of Beverly Hills worth $1Bn and The One (the 105,000 square foot home / airport terminal) which also started at $1Bn??
- adamcstephens 5y agoAt a certain point there’s nothing left to spend it on, and they use the money to make more money. In my opinion all billionaires are sociopaths. I think it’s necessary to be one in order to become one, and most definitely to stay one. If you think “yeah I am the best person to manage this wealth”, then you’re already putting yourself over society. That they can look at the state of the world, and double down on personal wealth, makes it even clearer.