Link:15 Frugal Billionaires
I admire their efforts but for some, I question the economics of their frugality. If they are not doing much philanthropy work with their money, isn’t it a waste of capital resources to have excess money hoarded away? If you are not don…
- Date
- January 17, 2013
- Collection
- Commonplace
- Reading time
- 1 min read
- Type
- Link
- Archive status
- Written by Fiifi
From the archive: Originally shared on 2013-01-17 through mrfiifiappiah. Language, links, and opinions reflect their original context.
I admire their efforts but for some, I question the economics of their frugality. If they are not doing much philanthropy work with their money, isn’t it a waste of capital resources to have excess money hoarded away? If you are not donating money, at least stimulate the economy by buying some shit- or paying higher taxes for that matter.
But then again to be fair to most billionaires, they are not necessarily liquid. They are billionaire in terms of market caps valuations of the companies they are associated with, not billionaire with cash sitting down idlly in checking accounts or money markets. Thus I can see why they wouldn’t bother liquidating their positions to buy a yacht.