By Malcolm Stacey | Monday 1 May 2017
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Hello Share Crunchers. Uncle Tom has had a pop at my humble weekend piece, which warned against an immediate fall in share prices. I will reply in my Tuesday morning contribution. But meantime, as the markets are still boring closed, I would like to bring you a few figures about the wealth of some company bosses, fulled of course by galloping share prices.
I refer not to ordinary firms, nor even Footsie members, but to the likes of Amazon, Google, Facebook and Netlfix. The following estimates of their income, which I’ve only read in the press, and so may not be accurate, could be over-egged. But even if they are, they’re still amazing
Are you ready for this? Mark Zuckerberg of Facebook is thought to have personal wealth of $60 billion dollars. It’s said to have increased this year by $13 billion.
Jeff Bezos of Amazon beats that obscene figure with a personal wealth off $74 billion. It zoomed up this year by £13.5 billion.
Reed Hastings of Netflix has $944 million dollars and the two big cheeses of Google (Alphabet) have $85 billion between them.
Now my religion says I must not covet other people’s wealth. And in fact I admire the money-making skills of these people and applaud them for the jobs they create.
But I also wonder how much they give to charity. Most wealthy people I know give an awful lot and keep quiet about it. So maybe the gentlemen named above do the same.
But perhaps they might give more. They will never get close to spending all their dosh and £75 billion would eradicate a load of poverty. Zillions of children might not die of curable illnesses and miserable starvation. Homeless people would be eased out of misery.
It’s only what we’re all saying in the Punter’s Return.
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