Corporate culture is based on constant growth and ever increasing profit margins. Eventually they’ll amass so much of the wealth that most of the lower class won’t be able to purchase anything other than essentials like food.
No new cars, no tech gadgets, no fancy dinners, no vacations, no disposable income.
When we get there the economy collapses because there’s no money going into it.
The profits stop rolling in, unnecessary goods stop being produced, and the luxury goods producer’s shut down.
At this point the money they worked so hard to hoard becomes worthless because they can’t buy anything with it.
What’s the endgame for them if their current path takes them to a point where their assets are more or less worthless?
If all the billionaires in the world instantaneously ceased to exist, and all their money were evenly distributed to everyone on earth, you would get a one time payment of about $1,769. Then what?
You’re forgetting that this money would exchange hands multiple times per year, per person. Expenses are revenues; we’re all connected.
But when some people put billions aside (in non tangible stuff like stocks), they’re effectively reducing the buying power of everyone else. Slowly but surely. They are a net negative just by their mere existence.
I see your point, but my point is that each time the money changes hands, more of it will bubble up into the coffers of newly minted billionaires.
With the exchange rates remaining intact? Many people would live a much better life.
We move on to the triple digit millionaires, and maybe the double digit millionaires too.