534
Next generation of billionaires collect more wealth from inheritance than from work, says UBS
(www.theguardian.com)
this post was submitted on 30 Nov 2023
534 points (98.4% liked)
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Yep.
Billions come from suppressing wages and benefits, making the employees pay more out of pocket for benefits, understaffing so fewer employees do more work both on and off the clock, and constantly reducing product quality to squeeze more profits from the system. Charge customers the most you can get away with.
This feeds the shareholders. The shareholders prop up the board (who also collect huge payouts along with the C-suite) who then throw money at the C-suite because the BoD are probably all CEOs somewhere else too. Everyone gives themselves raises.
You, too, can be a shareholder, but unless you have a few million invested your ROI will be insignificant…if you’re lucky, a lifetime of investment might get you a retirement.
It takes money to make money. LOTS of money.