I was watching an interview the other day, of billionaire investor Nick Hanauer. hes a billionaire investor and entrepreneur (invested in Amazon.com, and started nearly 30 of his own companies). In the interview, he was talking about the great division between the rich and poor in the US. He makes a great case. The nation will slowly be running around with pitchforks determined to take out the 1%!
I couldn’t help but think more about it. My friend Robbie owns multiple limo companies and hes a millionaire. Granted, he finds himself in the top 5%, but many members of his clientele using his company are in the top 1-3%. He says, “Most people that are mega-rich, don’t go around just fluffing up money, spending on careless things, bottles of the best champagne etc”. They wouldn’t have made it rich, if they weren’t frugal and financial wizards. In fact, you would have no idea they were mega rich, as some of them have to be reminded of the dress code! So its a direct example of the trickle down not working.