The Ranks of Global Billionaires: Not All Billionaires Are Made Equal

This video was made possible by our Patreon community! ❤️
See new videos early, participate in exclusive Q&As, and more!
➡️ / economicsexplained
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Jeff Bezos and Bill Gates, two gentlemen fighting back and forth for the title of world richest man. These two individuals seem very very similar, for starters, of course, they are both billionaires, an elite worldwide club with around 2 and a half thousand members, they are both white, male tech entrepreneurs, from the united states, and even more specifically from Seattle, and even more specifically their primary residence is in Medina a same small town just outside of Seattle. So it looks like these two are pretty similar, but in reality, their fortunes couldn’t be more different.
📚 Want to learn more about billionaires (and how to become one)? We recommend reading "Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers ", by Tim Ferriss 👉 amzn.to/30j8UQ5 (as an Amazon Associate, we earn from qualifying purchases)
Enjoyed the video? Comment below! 💬
⭑ Subscribe to Economics Explained 👉 bit.ly/sub2ee
⭑ Enjoyed? Hit the like button! 👍
Q&A Streams on EEII (2nd channel) → / @economicsisepic
✉️ Business Enquiries → [e-mail]
Follow EE on social media:
Twitter 🐦 → / economicsex
Facebook → / economicsex
Instagram → / economicsex. .
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
#Billionaires #EconomicsExplained #VideoEssay
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Sources & Citations -
Sexton, D.L. and Smilor, R.W., 1986. The art and science of entrepreneurship. University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
McQuaig, L. and Brooks, N., 2013. The trouble with billionaires. Oneworld Publications.
Treisman, D., 2016. Russia's billionaires. American Economic Review
Sanandaji, T., 2014. The international mobility of billionaires. Small Business Economics
Solomon, L.D., 2017. Tech Billionaires: Reshaping Philanthropy in a Quest for a Better World. Routledge.
Articles -
www.forbes.com/forbes-400/#2a...
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
EE Fan Exclusive Offer:
Sign-up for Acorns! 👉 www.acorns.com/ee (after registration, Acorns will deposit $5 in your account to help you get started with investing!)
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏
Support EE by becoming a Patron today! 👉 / economicsexplained
The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:
Morgon Goranson, Andy Potanin, Wicked Pilates, Tadeáš Ursíny, Logan, Angus Clydesdale, Michael G Harding, Hamad AL-Thani, Conrad Reuter, Tom Szuszai, Ryan Katz, Jack Doe, Igor Bazarny, Ronnie Henriksen, Irsal Mashhor, LT Marshall, Zara Armani, Bharath Chandra Sudheer, Dalton Flanagan, Andrew Harrison, Hispanidad, Michael Tan, Michael A. Dunn, Alex Gogan, Mariana Velasque, Bejomi, Sugga Daddy, Matthew Collinge, Kamar, Kekomod, Edward Flores, Brent Bohlken, Bobby Trusardi, Bryan Alvarez, EmptyMachine, Snuggle Boo Boo ThD, Christmas

[@EconomicsExplained]

Thanks for watching EE nation! ❤️ If you enjoyed, please consider supporting the show on Patreon! 😎 See new videos early, participate in exclusive Q&As, and more! ➡️ www.patreon.com/EconomicsExplained

[@johnsmith100]

Economics Explained You didn’t provide even one example of a person from the Upper Class of Billionaires. Putin ? Any of his oligarchs (names) ?

[@PrestonReject]

Is there a video explaining the upper class Billionaire?

[@lisachansy]

Economics Explained that tin foil hat smile XD is that you?

[@seriousjack6896]

Is Trump an Upper Class Billionaire?

[@ndumbamakayi8111]

045444⁵5inches 5r5r5rr

[@palerider660]

I’m A super upper-class billionaire. My wealth is so diversified I haven’t been able to find almost all of it yet.

[@accshsmilgroup1408]

Good for you🥴

[@layapla2]

Don't forget to help children in poverty

[@tomasbeltran04050]

HAHAHHAHAHAHHAHAHHAA

[@lovelikecvli4801]

Can i have $11K to pay for college?

[@PursuitSk8]

I feel like this went over some heads somehow

[@samholland155]

“There is a law of history - If you don’t have a lot of power, you try to exaggerate your power. If you have a lot of power, you try to conceal it.” - Yuval Noah Harrari

[@prometheus5405]

which book is this from?

[@Superknullisch]

Thump is triggered!!

[@neelanshguptaa1440]

Tusk ACT4 chumimiin he wrote this book called “Sapiens, A Brief History of Mankind”. I believe the quote is from that book.

[@MrArthoz]

Same concept as written in the Art of War.

[@Alchepirate]

I thought Sun Tzu said that.

[@superchargedpetrolhead]

Is this some kind rich peoples problem that i am too poor to understand.

[@Holuunderbeere]

Yes

[@vpiansts2508]

You’re not alone

[@69p59]

#yachtsareahumanright

[@screwthenet]

Its everyones problem, because as long as theres people making billions, theres billions of people making next to nothing world wide.

[@dreinhard52]

@Frank Snapp Revolution ..... Guillotine

[@VenomSnakee]

Growing up in the hard knock streets of Connecticut as a low class billionaire was tough. Mom had to work 3 whole hours while father was made fun of for having only 1 mistress

[@bingobongo7509]

Cheal sonnon wishes to know your location.

[@blee-bleep3906]

😂😂😂😂

[@TheLiamster]

My monocle almost fell into my glass of champagne while watching this.

[@EconomicsExplained]

pish posh

[@nulnoh219]

Hope it didn't mess up your thousand dollar suit.

[@brom1277]

@@nulnoh219 thousand dollar suit? Not for me pleb

[@superblyrandom9630]

MrHan More like million dollar suit.

[@je.m3320]

@@brom1277 fully customize gps tracking bulletproof(even those long range rifle with pointy bullets that pierce the s*** out of normal bulletproof glass) Full Kingsman services with hightech equipments

[@jjosephs6521]

I'm a billionaire, I own some Zimbabwean currency.

[@johnsonbag7538]

I believe you .

[@night00glider]

@Captain_Morgan how do you say that ??

[@videozoom12]

Clutch!

[@trazyntheinfinite9895]

lol, i have a cupboard full of ye olde Reichsmark, amonngst them 2 severely torn 100 trillion "notes"

[@ibejibenson1783]

Venezuela left the chat

[@CT2SKATE]

Finding out that there was even such a thing as "low class billionaire" made me feel an infinite number of times poorer.

[@briandsouza7854]

I feel you! 😭

[@sirlevis7869]

A disrespectful to the 99% competing to be at the top!

[@newshybrid5362]

My heart 😭😭

[@hithere5553]

Makes me feel hungry all of a sudden

[@bettcollins5539]

😂

[@dugtrioramen]

This inequality is truly unjust and heartbreaking. We as a community have to rise up and help these unfortunate low class billionaires

[@camille8064]

i love this comment so much

[@vasundarakrishnan4093]

The sarcasm on this comment made my day.

[@lakkakulasaritha9531]

Haaa haaaa haaaaaaaaaaaaaaa

[@thewinner4319]

BATMAN agrees 👍

[@GabrielHellborne]

I'll lend them a fiver so they don't have to take out a loan for a cuppa coffee

[@wolfy8006]

"Do you ever wonder who these people are buying billion-dollar super yachts or half-billion dollar painting?" Look down at the instant noodles im eating "No i dont"

[@TKUA11]

Wolfy I feel your pain

[@kingslushie1018]

Try rice too, it’s cheap and quite tasty as well.

[@thunderb00m]

Lol .. weeps in 0.0000000001 billionaire

[@patrickm.4754]

At least, you still have instant noodles to look at. I usually lick my tears off my pillow when I'm hungry.

[@edmondgreen7970]

perhaps you should

[@pluto1655]

the virgin billionaire: has no salary, all wealth on their company, "hey Mr banker, can i get some money?" flexes the chad billionaire: owns nations, so rich doesn't even need paper proof, doesn't show up on Forbes.

[@oliver_siegel]

🤣🤣👏👏

[@adityajungshah]

Richard Branson got offended*

[@adamfaidy8544]

Nice

[@user-og8st2li8y]

basically Putin

[@zarkarimi]

Xi Jinping, Putin, etc.

[@ThanhNguyen-ic2eg]

In Vietnamese we had a proverb: "the empty barrel makes loud noise". Those who are showcasing their wealth are NOT the wealthiest. Forget about yatchs and villas. Think of oil fields, castles, treasuries, and the power to deal peace or wage war!

[@fazepug1982]

we have one similar in Chinese as well!

[@rohitraghani5773]

Similar saying in india (hindi) also

[@thebiggesthatersinworld]

I think the saying goes in Asia not only in Vietnam

[@ufukcansimsek2959]

We have similar one but instead of barrel we have bucket.

[@sallylee8422]

Thats so cool we have a similar korean one as well. Called 빈수레가 요란하다. or the empty wagon makes the loudest noise.

[@AshutoshShelkeP]

Imagine a lower class mortal worked extremely hard all his life and became the world's richest man. When he reached the top spot he watched this video and got to know that he is still lower class. lol

[@pravinrao3669]

lower class mortal. this isn't wuxia .... .. yet

[@silviumoldovanu508]

Hahaha.... still lower class.. We all mortals

[@insface5304]

He is only the world richest man on paper(same for elon now). There are propably trilionaires out there we don't know about

[@tcideh4929]

Then he just works to make sure his kids become middle class, and then maybe his children’s children’s children will eventually become upper class. Thats how the upper class became upper class. Through decades or even centuries or millennia of work. Remember everyone came from the stone age. So everyone was once a nobody. No matter how you want to see it, at some point someone in a rich family did hard work. Look at royal families. So many have years of suffering in their history. Or torture, execution by the people, etc.

[@rickeybernard8156]

Jay Z and Kanye?

[@mouseluva]

Brb, ordering a tiny violin off Amazon to play a little song for poor lower class Jeff

[@projectjt3149]

press F in the chat for poor Bezos

[@memeablememes7652]

;l we need to save him

[@Saxboy16]

Someone didn’t pay attention to the video

[@topic260]

Play the f note

[@AnthroGuitarist]

Rebecca Hurford what a simp!

[@64bit-]

imagine being so rich you have an entire company dedicated to giving away money

[@KamcorderRecords]

*Dodge taxes

[@reddragon9918]

It also makes money off the money it holds to give away. It's capitalist philanthropy, I love it!

[@klauserji]

@@reddragon9918 i thought bill and melinda gates foundation is a non profit organization ?

[@reddragon9918]

@@klauserji They're a non-operating private foundation

[@klauserji]

@@reddragon9918 owh, thanks.

[@stralbem]

As a banker/ economist, I must say, I like this video a lot. I initially thought this is just clickbait so I watched it to amuse myself (in my defense, I didnt notice the name of your channel, sorry about that). You explained it so well that people out of our industry can actually understand how valuation in finance, bank loans, etc. works. I am only halfway through the video as I am typing this and I am super impressed that I cant stop myself from commenting already. Great job Sir!

[@stralbem]

@Raymond Spicer What? Did you mistakenly replied to my comment or something?

[@paperexplain9342]

Lol

[@AmericanCaesarian]

Your reply to this comment sounds like your high based off the context

[@AmericanCaesarian]

@Charles Darwin the founder of evolution sorry if it wasnt clear but i was addressing @Raymond Spicer

[@hanshintermann1551]

"I didnt notice the name of your channel, sorry about that" - oh my gosh, the channel is called economics explained, he MUST know what hes talking about!

[@randyjones3050]

Jeff Bezos now regularly wakes up in a cold sweat in the middle of the night screaming..."HALF!!!"

[@bullish1920]

😂😂😂 this is flying over everyone’s head.

[@ammonquitalig9077]

@@bullish1920 care to explain?

[@potatismos6657]

@@ammonquitalig9077 He recently got divorced, and his now Ex-wife is now a multi-billionaire and the 13th richest person in the world after getting 25% of Jeff's Amazon stock. (the half joke was probably based on how wealth is usually split in half when getting a divorce)

[@randyjones3050]

@@potatismos6657 Yes, it is from an old Eddie Murphy routine about Johnny Carson getting divorced. kzbin.info/www/bejne/iZ_MgIt8ndx8kJo

[@naninuna7440]

@@potatismos6657 He explained she was every bit as responsible for the growth of the company as him.

[@FinanceOptimum]

*"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."* ~ Henry Ford

[@Dexduzdiz]

That’s facts

[@dehazelaar4324]

Too true, unfortunately most of us slaves who are exposed to the truth of this monetary system fall for its controlled-opposition, Communism, which is literally just the other arm on the same body, making sure none of us TRULY grab back the power, only a tiny, tiny minority of people actually know the truth. Less than 10% of people even wants to consider reflecting on it.

[@dehazelaar4324]

@Henryk Gödel People staying employed and contributing to the system is the biggest problem of all, we're lending our energy to the darkest of evils, the system is evil and we're feeding it. We are literally feeding the beast that destroys us. Society is no longer about sustaining ourselves and each other, it was subverted a long time ago and is now about feeding the horrible evils of the universe.

[@_AABCEHMU]

De Hazelaar So what should we do?

[@williemherbert1456]

Fear the Rotschild

[@kalifakoita1138]

I'm still waiting for the day my parents will say, "its all Fake, we are *Lower Class Billionaires like Jeff Bezos this was to teach you to be humble"

[@mhamzaajmalkhan692]

still waiting........

[@DuyNguyen-sg7pw]

Me too

[@darkpit8178]

@@DuyNguyen-sg7pw yo I've seen you in our classes for cedar rapids remote learning I'm a franklin student your in my classes right?

[@DuyNguyen-sg7pw]

@@darkpit8178 wrong person mate

[@hanshintermann1551]

@@darkpit8178 Not to be racist, but there are simply a LOT of people named Nguyen

[@Baekstrom]

Poor guys. I suddenly feel so bad for those billionaires and all their problems. We should help them by taking their billions away.

[@G1ennbeckismyher0]

Lol you jelly?

[@nicholas11121]

Take it and where will it go? to china and Vietnam in foreign aid?

[@Stinoco]

@@amiyavatsa and after that funding, there’s no money left and society starved, just like what happens to every socialist nation

[@JoinTheTemple]

Like a bit of good old fashioned theft do ya?

[@stansman5461]

@@amiyavatsa so take their money, and let them earn it again so you can take it. What a brilliant idea. I see nothing wrong with it

[@LetsJamFunk]

0:15 "after a recent divorce, Bill Gates seems to be out ahead" That aged well

[@n0nenone]

Who'll become richest guy of world? gates or jo? Haha.. look Mars

[@edmondgreen7970]

I'd rather be a low class billionaire then a high class peasent.

[@s41d4]

Well.....no shit

[@impyrobot]

Really? No way!

[@benkysan3246]

Really? You could lose your paper wealth any moment

[@Vapor817]

@@benkysan3246 even the "billionaires" still own useful assets that are included in their net worth estimate. for the smart ones, losing that paper money just means downgrading to millionaire

[@sbutte1127]

Settle as a low class peasant like the rest of us. The gruel is good mate!

[@mitchells7634]

Hold up, half of Bill Gates investments are in Bershire, run by his good friend Warren Buffet. Thats a top notch move right there

[@NationalSecessionistForces]

The older he gets the more he even starts to look like warren buffet.

[@lukenguyen3146]

Most of It actually warren donation to the bill melinda foundation. I dont even know who in the world donate more then mr buffet at this point

[@rock3tcatU233]

#BromanceGoals

[@clips9294]

😂😂😂😂😂😂

[@bennygbutter46]

Berkshire has under performed so far during 2020 🤔 and in recent years has kept BILLIONS liquid instead of investing it, which was called out last year

[@Mii.2.0]

3:00 Lower Class Billionaire 8:16 Middle Class Billionaire 10:17 Upper-Middle Class Billionaire 12:30 Upper Class Billionaire

[@onetwothreefourfivesix1268]

Thanks dude

[@Mar1aHass4n]

TaNks

[@goober5713]

And then you have Musk.

[@wavemaker2077]

Thanks. At least I don't need to watch the video anymore. You saved me time.

[@morganlee2806]

​@@goober5713Musk is upper middle class. You'd realize that if you actually watched the video.

[@JohnHill]

I want to be rich enough to complain about billionaires one day. Right now I make fun of people who make 6 figures.

[@notjazz.]

The wonders of the algorithm 👏🏾 what’s good John

[@pearyo7085]

I just want to be rich enough to go to space anytime I want.

[@jesussandoval9843]

People who live in middle class suburbs are rich mfs from my POV

[@localman9063]

@@pearyo7085 "Just", lol

[@athelstanrex]

Whats wrong with making 6 figures?

[@haldrick4455]

I like he didn't name any of the upper class billionaires in case he got into trouble

[@gufestus4106]

Putin.

[@Stoneface_]

Rothschild, Rockefeller’s, Morgan, DuPont... the real rulers of this planet.

[@sudeepmitra]

Queen Elizabeth

[@currentcomentor1026]

Ever sinse george to 4th ( i think its him) the british monarchy hasent been that wealthy. Thw income they gain from the dutchy goes to the tax man and then they get very lucrative tax credits...

[@alioshax7797]

The Saudis are the best example to me. Their country is literally named after their family...

[@ltrasnish]

6:45 that dude randomly typing on his keyboard with a paused KZbin video of a trading chart 😂

[@hanagreg]

ltrasnish woman*

[@hanagreg]

Karm G Karm G I am a female and dude is a neutral term only when you are addressing someone (which I do with my female friends lol). NOT when you are referring to someone. Which planet are you speaking English on?

[@Haakon97]

@@hanagreg Why would you think that was a woman? You can even see his beard at the start of the clip.

[@paulwalker1617]

@@Haakon97 lol indeed and his arm is hairy lol

[@wyatt5167]

@@paulwalker1617 SHE is simply not conforming to the MALE perception of beauty. #haireverywhere

Jeff Bezos: “I am the world’s richest person” Bill Gates: “no, me” Elon Musk: “nu-uh I am” Mohammad Bin Salam: *crickets*

[@TrySomeFentanyl]

The saudi royal family shares their nations wealth amongst the entire family, and the amount of them in this fund is known to be over 2,000 living people, but is thought to be the main source of income for about 10,000 royal family members. Making their 2 trillion dollar wealth not a single centralized super fund, much like how the rothschilds have lost 90% of their cash pool due to family members taking their part and after just 3 generations, 90% of all family wealth has completely been abolished.

[@soloassasins9407]

@@TrySomeFentanyl Kinda unfair dont you think for the people that was born too early or too late to share the resources of that country lol

[@mukamuka0]

@@TrySomeFentanyl Even if you say it's shared but MBS can take back everything from any of them at anytime, included their life. The monarch rules in absolute.

[@RahulSingh-ed1zx]

@@TrySomeFentanyl don't you remember what mbs did when he came to power

[@ah2522]

@@mukamuka0 no he can't

[@dionagona8205]

That one image with the three yachts makes me imagine one of the rich people seeing the first yacht and thinking “I’m going to buy one bigger than that one” then another person comes along and says “I’m going to buy one bigger than that one” as an army general walks by and thinks to himself “I already have one bigger than that one” as he walks onto an aircraft carrier.

[@Zero.X]

You made my day

[@Bloodlyshiva]

Suddenly reminded of Rugal Bernstein and his aircraft carrier Black Noah.

[@lurkingstar]

navy admiral*

[@SilvanaDil]

"Is my wealth secure?" -- The question every Chinese billionaire has asked every day for years and will continue to do so.

[@alphadiallo6215]

Please elaborate

[@yudosai]

Please elaborate

[@SilvanaDil]

Seriously? The CCP can take it (and "disappear" you) at any time.

[@TheOutlawed1000]

SilvanaDil Sure.

[@samraatbharat6325]

@@SilvanaDil could be said for literally any other national government

[@tasmanmillen]

14:54 ‘’They actually have the opposite problem of the lower class. They have no paper wealth, but almost unlimited money and power” I’m sorry, but I fail to see how that is a problem.

[@kakerake6018]

Ikr

[@simplefolk8991]

It isn't, but when they do get find out they could be scrutinized, or perhaps some upper class could just have 4 billion USD in entire cash/digital credit. Certainly more than what Bezos spends in a year and more than any small to mid valued tech billionaire's paper wealth but that won't exactly last long if they spend it frivolously. And I do believe Russian oligarchs(those who collude within and with but from out of Putin's government) are of this type(assuming they are more numerous than the no. of wealthy Saudi family members).

[@TheWebAdict]

Probably just super inconvenient. Like when you you had to ask you mom to buy everything when you were a kid. Especially for dictators in places like Africa. You finally steal enough money to buy the new rolls royce and then you cant enjoy it in public. Tough life.

[@projectjt3149]

Tasman Millen It is if you’re an open person who’d like to talk about anything to anyone. Let that sink in for a moment - they are so wealthy that they can not write KZbin comments or post in any social media. Purely for non-disclosure.

[@masterchief7301]

@@simplefolk8991 I'm sorry I don't follow, what do you mean?

[@swavnasahoo711]

The slight tinge of classical music in the background is an amazing touch.

[@Sly88Frye]

I never thought I would find a video talking about different classes of billionaire to be so interesting. This was very well made and very well explained.

[@Niosus]

LOL @ 6:42 . The stock footage of a person "working" while having a KZbin video with important looking graphs in full screen

[@---uf2zl]

He's even typing for no apparent reason.

[@larsfroelich]

@@---uf2zl Stock footage at its best! :D

[@ande1156]

Brilliant. I didn't catch that.

[@MichaelOrtega]

Well he’s lookin at the stock market graphics.... I do that all the time. But the typing was unnecessary....

[@Luka-cu8ep]

Michael Ortega wow what are you doing here

[@kyleeastman1145]

This is why I find it funny when people say, “oh, why can’t they just give away all of what they have and keep a billion? They’ll still be billionaire.” People don’t realize a vast majority of these billionaires’ wealth are not liquid. You can’t just donate a share of a company to a charity and expect that to do anything lol

[@SI29222]

Accurate point

[@Dave_Sisson]

@@_blank-_ Overall I agree, but dividends differ from country to country. In the United States the tax system doesn't favour paying dividends so companies tend to accumulate more cash. But in some places like Australia dividends come with a tax credit IF the company has already paid tax, so companies in those places pay out as much as 75% of profits as dividends.

[@Lawrence330]

@Yeshua is Lord. Spoiled socialists...there's a new one. You're right, they don't *have* to give their money away, that is correct. Here in the West most people have enough that despite their "collective malcontent" few enough would risk it all for outright class warfare. And that's really the fine line, isn't it? Keep the poorest poor enough to keep the middle class working, and give just enough so that too few are willing to lay it all out and start building guillotines... If only the French had sorted this out a few hundred years ago, or the Russians around the turn of the 20th century. So many fewer heads might have rolled had that, what do libertarians call it? Volunteerism, that's right. If only more of the wealthy had volunteered to share. New angle. Replace the word "money" with "clean water." Every anti-socialist, pro-Trumper I know would gladly kill Immortan Joe for hoarding all of the water while we plebs died of thirst. Money is a resource, and as long as everyone has "enough" no one really (read: violently) cares if a few people have too much. But if the unwashed masses really start to feel the pain, well, that's when they really "share the wealth."

[@elizabethtalaska5369]

Actually, you can donate shares to charity. The charity either keeps them as an endowment to generate income over time, or sells them realizing the full current value.

[@hanshintermann1551]

You absolutely can. But yes, people are aware that the majority of their wealth is not liquid. What they demand is obviously that they liquify it and *then* give it away. You don't need to spell that out.

[@PhillKaggitz]

I used to pass the house of one of Mexico’s upper class billionaire every Sunday after partying on Saturdays. Would see the guy watering his plants.

[@kyfohatl5622]

6:36 my dude is typing the same two keys over and over on a paused youtube video

[@explosivereactionstv7414]

Last time I was early, Jeff Bezos paid his taxes

[@EconomicsExplained]

These keep on getting better and better haha xD

[@jjosephs6521]

Who is you display picture? That face looks very familiar.

[@explosivereactionstv7414]

Jessica Josephs Frank Beamer, College Football hall of fame coach

[@FamousDMagnificent]

When did he not pay his taxes?

[@lyq232]

@@FamousDMagnificent last year

[@GreatRetro]

I would like a more indepth view on Upper class billionaires! Please.

[@rafael285pc]

yes please that would be great

[@CockatooDude]

Nah he doesn't wanna get a visit from a hitman lol.

[@cartman2dk]

@@CockatooDude That is indeed a super easy way to get wacked. lets get some attention from the most powerful people walking the earth, those exact people who dont want attention :D.

[@warrendalio8878]

His channel would take a hit.

[@weebsreact1087]

@@warrendalio8878 *HE* will take a hit.

[@Kay_Wright]

Man this was kinda frightening when you actually put it all into perspective like this. Man I need to get to these levels of wealth

[@nownalolo2270]

You want to get to these levels of wealth ok ok. How do you want to achieve that?

[@costakeith9048]

Do you have an army? You're going to need an army to reach upper class billionaire in a single lifetime.

[@mushroomdew]

No you don't, instead we need to abolish those levels of wealth. They shouldn't exist while people still die of preventable disease, war, famine and lack of basic facilities.

[@pleasedontlookforme8036]

Give it up dude, unless you've got blood ties to some ancient medieval conquers, just live your life chasing the average middle class life. Best life one could have. These people may have money but their hearts are cold, and family ties are weak. Why idolise b*stards who earned their money from their great great granddaddy going around pillaging and r*ping other countries. Earn a respectable living, then once you're secure financially help others through charity. That's the best life.

[@wackoterp7026]

Mexico isn't a first world country but is one of the happiest in the world. Being rich might sound easy but it will crush your mind if you're not careful managing such money

[@ahhu.]

One of the most valuable channels I have encountered, well done 👏

[@tylerunderwood7877]

"Before you complain about your minimum wage job, consider a thought for the billionaires", no, I don't think I will

[@impyrobot]

I think we should go full French Revolution on em

[@djdeetsdroppingthosefunkyb1236]

impyrobot full? Like Robespierre and the Terror?

[@shivanshna7618]

@@djdeetsdroppingthosefunkyb1236 yes but first we go Marie Antoinette

[@steveaguilar7510]

And then think that some people make less than $20 a day

[@tylerunderwood7877]

@AutoDriver4000 Assuming a lot about me and socialism aren't you. Pretty sure the quote I was using was some brilliant sarcasm, which I was playing along with.

[@prakhar242]

So even if I work my whole life to come out of poverty and successfully found a tech giant and become one of the richest people on paper, I'm still going to be 'low class'. I'm not even sure whether that's reassuring or depressing

[@kenim]

Its because sadly, most of the modern economic boom is "ficticious".

[@CockatooDude]

Well if the company goes well and you can go public and start selling shares, then you can be middle class!

[@marciaosullivan3200]

@@kenim you mean that fact poverty is a record low is fiction because some one somewhere has a yacht

[@chromatron5230]

@@marciaosullivan3200 mostly is , because most countries have definition of poverty and anyone above that even just by a cent is considered not poor

[@alphadiallo6215]

@@kenim please elaborate

[@parth9716]

There's no challenge, this is by far the best channel on KZbin.

[@JETZcorp]

This might just be the best video on the channel. So many people tend to think of the rich as just getting comically huge paychecks every two weeks. The idea that you could technically be a billionaire but still get turned down for a subprime auto loan on a 1996 Dodge Neon, is really eye-opening.

[@ca-ke9493]

I think whats so fascinating is that at such an insane amount of money its all about keeping power and control over people. There something so insidious about someone who can cripple a country rather than just thinking about the abstract zeros in Jeff bezo's bank account.

[@travelator3035]

Bernie Sanders will be having another massive heart attack looking at this video.

[@harrywang4769]

Yeah but then Bernie Sanders will realize that to be a billionaire, you actually have to work a full time job for one day in your life and then go back to paying 15% of his income in taxes.

[@nachiketh3650]

@@harrywang4769 bernie is a millionaire himself

[@mtk77621]

On the contrary, he was looking at this video thinking about how delicious these billionaires would be. He's probably gonna have a heart attack before he becomes pres though...

[@vassilyvodka2638]

@@nachiketh3650 senators and representatives have a decent income and he is for like nearly 30 years a members of the congress. Are members of the congress paying less taxes than the common American?

[@eclipse53]

@@vassilyvodka2638 First of all they do not pay less in taxes they pay taxes on their congressional salaries, allthought "they have given themselves some extra perks that elevate them above normal taxpayers." (www.ntu.org/foundation/tax-page/do-members-of-congress-pay-income-taxes ) Secondly I don't understand what your point is. Him being a "millionaire" doesn't mean his beliefs aren't legitimate and that he doesn't want to tax rich people just because he is one of them.

[@GhPadua]

I would love to hear about different economic models like Yugoslavia's market socialism, Anarchist Catalonia or Georgism. Would be nice to hear from an economist something other than traditional free market capitalism or state socialism. Thanks for the great work!

[@ezrathegreatconqueror]

Keş Orangutan lmao

[@user-rd5nc1nb9f]

Market socialism is a hit oxymoronic

[@Parcian-]

Georgism is the best economic model in my opinion. The Georent is considered the "best tax" ou "the least bad tax" for many economists (both left and right) and yet Georgism is a forgotten discipline in economic schools.

[@Parcian-]

@@alexandermai4985 I love the concept of cooperatives, but my problem with classical anarchism is the "private property not allowed". I think that cooperatives can easily coexists with private enterprises, competing or cooperating with them. I would like to see a world based on Georgism (because of the moral goal of geo-rent) with a type of "panarchy" in with individuals could choose the government they want to participate. Hugs from Brazil and sorry for bad english.

[@GhPadua]

@@user-rd5nc1nb9f It is not, not all socialism is marxist. Market socialism is an economy with markets, but with socialized means of production.

[@iluzota]

Great videos! Economics Explained!! Love them!

[@second3118]

This is the most informing video or any piece of information for that matter that I have watched for quite sometime

[@wisdom_magnet]

The way he keeps calling the rest of us "mere mortals" 😂😂

[@sk-sm9sh]

The scary part is that the day where money can buy some expensive procedures that halt aging is coming closer and closer and mere mortals will be literal meaning.

[@AanandBajaj]

@@sk-sm9sh Yep, but it will trickle down to average people - companies will of course want to sell anti aging to 7 billion people. Albeit at a high price, overtime like every technology price will come down

[@sk-sm9sh]

@@AanandBajaj something that I worry is following - right now no matter how rich you get your days are still numbered. What will happen when rich people can live significantly longer? Same person will be able to keep accumulating power. Same people have same unchanging minds and being in powerful position for long cause economical stagnation. Young - willing to risk and go through discomforts - not the old looking to maintain comfort - make our economies vibrant. I don't like whole live-longer thing. If it can trickle down to average people I think it might even be worse. Old people tend to maintain their mindset. It always takes change of generations for our social models to upgrade for the better. Our grand-grand-grand parents thought slavery is ok. Some grandparents thought toilets should be split by race. And I'd say a lot more older people compared to youngers fail to understand what ecological problems we create. And we don't know what sort of social development we are missing in the future.

[@meneither3834]

I hear European nobility ? *Angry french noises*

[@Xamufam]

Its time for a revolution

[@madensmith7014]

Bring out the guillotine!

[@ufhb6649]

_La Marseillaise starts playing_

[@meneither3834]

@@madensmith7014 we missed some heads.

[@zerenadli]

Vive la Revolution

[@Santanilla]

Your videos are getting better every time

[@giancarlo_rc]

*Life must be tough at the bottom-half of the 0.1%* * *_CRIES IN CHAMPAGNE_* *

[@aurorawaxwing5866]

@Dimosthenis Karamparpas yes and no for 99% of people you need to consider the cost of living where they are being payed.

[@Konstantinos1404]

@Dimosthenis Karamparpas How is 30k considered 1%? In the US especially it is thought over 90k is considered rich. Here in Europe it is lower probably around 60

[@Konstantinos1404]

@Dimosthenis Karamparpas True, but that's a really broad comparison,someone in Turkey for example who earns average wage(200 euros) is considered extremely poor in western nations, but in a country like angola pretty rich. However the cost of living is also way higher in the western world than for example Turkey.

[@marcospedroza7184]

*cries champagne

[@Deschutron]

Ow, ow! It's fizzing in my eyes!

[@Je.rone_]

*Being a billionaire without having had started a publicly traded company must be difficult*

[@LowestofheDead]

Be born into the right family

[@not4thestreetz935]

Not if you're a good salesperson/storyteller. Elizabeth Holmes became a billionaire by selling nothing with her theranos scam

[@hakshustletv]

@@not4thestreetz935 Yeah but as we've learned, something like that won't last forever. It's still a hilarious story to me though, we have to give her some props for being able to pull the wool over the eyes of world-leading investment institutions for that long.

[@not4thestreetz935]

Haks Hustle true that

[@AliA-by2ju]

@@not4thestreetz935 did she stay one?

[@qtluna7917]

The same concept exists in other social classes as well. E.g. I personally have little paper wealth (net worth of maybe $2000, I don't even own a car, lol), but I have somewhat wealthy family (let's say top 5% give or take). If I need a loan, I can easily get 10-15k and pay it back interest free, because there is "generational wealth" that is easy to access and shift around. Now let's take for example a self-made entrepreneur, he might be richer than my whole family combined. But most of that money is locked up in his business, to give his family a loan, he'd probably get one from a bank. So I'm upper class riffraff.

[@sharikkhan4775]

I literally laughed when he mentioned Jeff Bezos as a middle class billionaire 😂

[@mythlegend1994]

I like how he implied of the Rothschilds without actually pointing a finger at them.

[@JamesAJ]

*especially* using the stock videos... we all knew what the old, European shots were implying.

[@sharonyohannan5293]

Yeah Private real estate and oil and mining fields

[@fionafiona1146]

There are others.

[@comicsans3845]

And the Pope

[@Negermak]

The rothschilds, rocketfellers, kissingers and other steins and bergs that run the federal reserve are the real elite, the business magnates like gates bezos and elon are nothing compared to the royal families and their foundations that actualy run the world.

[@grimmpierful]

I cant even imagine being one of the upper billionaires. You can have literally anything physically possible whenever you want

[@reinisbrigis]

Yes, so much stories of people being just run over on street or taken their companies away just like that with no consequences - just a modern Russia - Putin and his friends and family members own country, police and judge and do what they want on plain sight openly. Upper officials get payed, others get intimidated.

[@alrizo1115]

until they die.

[@NotShowingOff]

It’s like Full power Thanos. And Jeff Bezos is like thanos with only 2-3 stones

[@Lea-cy3lb]

that honestly sounds boring. desire to have something is only possible when, obviously, you don't have something. that's why us mere mortals are driven, because we have desires. if you have everything, what are you living for?

[@NotShowingOff]

Lea why do you think billionaires buy politicians. We assume low taxes. And that’s a good excuse. But I think they get a psychological comfort by controlling ppls lives

[@relevantusername3342]

Can we get a follow up on the upper class Billionaires? This seems super interesting.

[@Kas_Styles-Akuma]

Agreed.

[@jimbob7534]

Economics Explained Thank you. Your video was very educational. 👏👏👏👏

[@kal2352]

Aww poor Jeff Bezos, sending thoughts and prayers.

[@videozoom12]

This. Is. Incredible. Ty so much for this. I have been wildly curious about this topic for about 5 years and done some research but couldn't put it together as powerfully and simply as you did. God bless you and thank you so much for this.

[@bigm7852]

i've learned so much. Thanks!

[@Nalot56]

Amazing video. Keep it up!!

[@projectjt3149]

the contrast between “Middle class” and “Elite” billionaires reminds me of East Egg vs West Egg Edit: 100+ likes already? Glad to see we’ve got plenty of old sports

[@Scarface_iii]

😂😂😂😂😂😂

[@misters6749]

Can you explain please? Honestly curious!

[@projectjt3149]

@Mister S It's a reference to "Great Gatsby". East Egg is where the “old money" community lives; West Egg is where all those who got rich quick live.

[@stephenlee1664]

Neat gatsby reference. Quite possibly my favorite book that i've ever read.

[@sanghyunhwang1297]

‘Tis true though. The book was trying to depict exactly that.

[@jacobw703]

It being tax season here in the U.S., I'd be curious to see a video dedicated to tax schemes, tax rates, which ones work and in what situations. Not a very happy topic to be sure, but definitely one I'm interested in.

[@tompeled6193]

All people are tax people.

[@massive223]

that sounds more like an Accounting Explained videos

[@z3ro216]

About to commit tax fraud we must.

[@projectjt3149]

Economics of Taxation doesn’t sound too bad actually.

[@haripetrov1289]

If I am not mistaken, when you add all the taxes, a business owner must pay about 50% of their earnings as taxes. Though, the super super rich can evade them. Even the millionaires cant really that much if at all.

[@CharlieDof93]

This deserves a subscribe. Well explained

[@asmaremengistu2449]

Thank you form EE nation! ❤️ we enjoyed very much

[@FengLengshun]

Yeah. People need to spare more thoughts towards the struggling billionaire. It's hard being rich when you have to pay the government for favors and get the respect of your peers as opposed to having government pay you for favors and being the envy of your peers, you know? Really, those heartless 99% majority need to have more sympathy towards the %1, it's never easy being in the minority after all.

[@fitnesschannel1111]

A billionarie is 0.00003% not 1%

[@Blastoise9000]

That’s some god tier sarcasm at the end there. Well played lol

[@osaretinimade8757]

Lmao

[@calebjeoung1225]

This is such an informative video.

[@rooramblingon895]

Great channel, adding to my already ridiculously eclectic KZbin tastes LOL I rank this channel up with those who can make statistics interesting (Tim Harford, BBC Radio 4) and well above the physics educators (because physics is already interesting...).

[@Seroriannedreno4766]

Wait so thares a poor billionaires and Rich billionaires

[@abhishekgore2316]

And a loan billionaire,hes a billionaire but he took loan for it

[@syntheticfox_real]

serorian net Yeah. You gotta remember that not everyone has a billion dollars of hard cash lying around. Some billionaires are only billionaires because of the companies they own or stocks or assets that can’t be liquidated, and thus live more like millionaires or even middle-class guys. Because... hierarchy.

[@Seroriannedreno4766]

@@syntheticfox_real so basically fake money

[@dehazelaar4324]

@@Seroriannedreno4766 Money is fake, always has been, it's just a physical (nowadays digital) manifestation of human energy, which is the real resource they are hoarding. Money is simply a tool to harvest our energy, nothing more nothing less.

[@Seroriannedreno4766]

@@dehazelaar4324 so the consep of a money is the imagination of a value

[@robinledesma2683]

If you watch this video and you feel sad, just keep telling yourself that "money can't buy happiness." Hasn't cheered me up so far, but someday maybe I'll believe it.

[@jeremiahnoar7504]

I use to feel sorry for me self but truly, it’s the lower class billionaires that deserve my pityXD

[@thegacha1615]

"Flexing in western Media when your constituents struggle to feed themselves" *Shows Moscow*

[@vibhushukla8900]

You know the video is well done when a pea brained person like me understands

[@livethefuture2492]

in our modern world, so much of our wealth just depends on how much other people think something is worth. well, actually that's pretty much what economics is.

[@methembencube7949]

It’s a system based on faith

[@elixorvideos]

You're helping me understand stock, shares, and investing :)

[@chihebbacha6680]

I tried the method at 3:12 and it worked. Thanks for the Tip.

[@Amagys]

Love the videos, just a thought. Is it possible to do anymore stories like the one about Bill Benter and the horse betting? I know that might've been a pretty specific case that tied in nicely with macro economics but that was a fascinating story and if there are any others like his. It would be a great avenue of additional content down the line.

[@aihiphop1]

Great video no cap. But I think by now you should have real subtitles for your videos. You’re big enough as a channel Great work👍🏽💯

[@krishypo3468]

This just made me realize the anime balance unlimited is actually possible

[@Noe-gj9mw]

Damm I feel really bad for this lower class Jeff Besos guy 😢 someone should start a go fund me

[@Robert.Stole.the.Television]

New favorite educational channel. Never thought I'd be marathoning videos about economics.

[@sabbirshuvo4201]

Zimbabwe must have the most Billionaires in the world! 😂

[@bicycles-as-far-as-im-aliv5725]

Paper-wise

[@muhammadomer5301]

Never thought in that way. Keep it up

[@SHUBHAMSHARMA-uh7yp]

Tnx for One of a Kind knowledge

Jeff Bezos: does charities. Amazon employees: *weeze*

[@simplethings3730]

When I got up this morning and opened KZbin, I narrowed my suggested choices down to either this one or one about whether or not a chicken could raise a duck. I decided to watch this one.... right after I watched the one about the chicken raising a duck 😁. Another great video as usual.

[@bensteele4936]

"before you complain about your minimum wage job not being able to cover your crippling student loan debt, spare a thought for the billionaire you can't even afford to fuel his jet without taking out a personal loan" HAHAHAHAHAHAHAHA. Great video, liked and subscribed.

[@gamingwithkingkrish8723]

nice video liked and suscribed

[@miroslavmilan]

Thank you for inspiring more compassion with our world’s poor billionaires.

[@Pro-dd4dv]

Finally someone broke the ice on this topic. Amazing

[@denzelsugayan432]

this is very interesting!!

[@jamesnnabeze687]

Congrats on 1 million subs

[@abrahamj15]

Here in Venezuela, we have a handful of those upper class billionaires, the socialist regime leaders took half a trillion dollars out of PDVSA during the good decade of oil (2003/2013) and they own so much land is often a joke that half of Venezuelans work for their private companies or ranches

[@nessmess500]

I sense a coming revolution...

[@abrahamj15]

@@nessmess500 As Walter white said, you are goddamn right.

[@Tmanowns]

@@abrahamj15 "the fire rises!"

[@Zhicano]

Jrpowered it came and went nowhere

[@abrahamj15]

@@Zhicano you don't understand the difference between revolutions and revolts

[@jonahkhalley]

Would love to hear more about this upper class of billionaire, love your work mate! Aussie to aussie🤘🤘

[@SerenityPrim3]

should make a playlist of your choice videos, call it (and theme it): how to get rich

[@sidharthk_]

Great content.