All the money in the world...

Skeptic · 7 Feb 2011 at 23:47

This thread is in two parts.

One; http://www.bbc.co.uk/news/business-11942117

This is a lot of money. Is it fair that somebody should earn that much when people are starving in the world? My opinion is that he has worked hard for it, probably, and therefore should enjoy his money. However, what can he buy at $4bn a year that he cant with, say $2bn? Is there such a thing as too much money?

Two; If we were to take all the money available in the world and then divided it by the entire population, how much would we all get? Just a random thought....

SiriusB · 8 Feb 2011 at 00:04

One: Fair? Yup. This is how much people are willing to pay them and they work hard for it. They may give vast amounts of money to charity so it is somewhat unfair to judge them without knowing all the facts.

Two: Lots and not much.

dowie · 8 Feb 2011 at 00:28

SiriusB said:
One: Fair? Yup. This is how much people are willing to pay them and they work hard for it.

Its got nothing to do with fairness or whether they worked hard and its not as though anyone has actually paid them anything. Their earnings are a % of the money they've accumulated for their clients. They charge a management fee and take a % of the profits of the funds they manage - typically 2% management fee and 20% of profits - though certain funds like ren tech can get away with taking much larger fees.

Vonhelmet · 8 Feb 2011 at 00:39

Hedge fund managing is:

a) Very hard
b) Very profitable

So you make very money.

Pate · 8 Feb 2011 at 00:54

fus said:
Two; If we were to take all the money available in the world and then divided it by the entire population, how much would we all get? Just a random thought....

I bet you within a few years, there will again be a segment of the population with far more money

SeraphX · 8 Feb 2011 at 01:18

wonder if any of that list are feeling the pinch in the current economic climate lol

Davy644 · 8 Feb 2011 at 02:50

Seraph said:
wonder if any of that list are feeling the pinch in the current economic climate lol

In there own little Worlds ill bet they are feeling the pinch` very much so i reckon

Speirs · 8 Feb 2011 at 02:56

Davy644 said:
In there own little Worlds ill bet they are feeling the pinch` very much so i reckon

You reap what you sow.

starfighter · 8 Feb 2011 at 05:51

I have no problem with these people as long as they pay tax.

They earn't it fairly through hard wortk and if they pay tax they have given more than I ever will.

It's the people that inherit their money and hide it abroad I dislike more than the dole scum they likely complain about.

ChrisJSY · 8 Feb 2011 at 07:17

starfighter said:
They earn't it fairly through hard wortk and if they pay tax they have given more than I ever will.

Whilst I shall take no part in agreeing or disagreeing to the OP, I don't think you can quantify all levels of "hard work". At the same time, I'm sure there are other less paying jobs which required a lot more from a person.

But meh, whatever.

Dr House · 8 Feb 2011 at 07:26

Ok I do not know much about this stuff but I think these guys are managing funds that they setup and not paid by banks or institutions.

I assume part of the agreement when you invest with them is they get a small percentage of the profit

Edrof · 8 Feb 2011 at 07:35

starfighter said:
I have no problem with these people as long as they pay tax.

They earn't it fairly through hard wortk and if they pay tax they have given more than I ever will.

It's the people that inherit their money and hide it abroad I dislike more than the dole scum they likely complain about.

Yeah, but don't a lot of these rich guys have funds in 'tax havens'?

Abraham · 8 Feb 2011 at 09:16

Forde said:
Yeah, but don't a lot of these rich guys have funds in 'tax havens'?

the article states that there aren't many that do

PapaLazaru · 8 Feb 2011 at 09:25

I know these guys get a kick out of it but surely, once you have £100m in the bank, you would just want to retire and party a bit then bring up a family?

Or is that just me. :confused:

Parsifal · 8 Feb 2011 at 09:29

So long as they recognize their moral duty to use at least a portion of it for philanthropic ends, there is no problem.

Cosimo · 8 Feb 2011 at 09:31

PapaLazaru said:
I know these guys get a kick out of it but surely, once you have £100m in the bank, you would just want to retire and party a bit then bring up a family?

Or is that just me.

It's you, the kick is too strong. They just want to make another £100m and another £100m and ....

Vonhelmet · 8 Feb 2011 at 09:37

simulatorman said:
It's you, the kick is too strong. They just want to make another £100m and another £100m and ....

That and it's - usually - human nature to want to do something productive, so they keep working.

Greenlizard0 · 8 Feb 2011 at 09:40

Only in this country do we criticise people who deliberately don't bother making any money (the thousands of dole scroungers who are able to work), and those who are able to make a serious amount of money.

Sp00n · 8 Feb 2011 at 09:40

Man is greedy.

Tbh they took the risk, it paid off so they earned it, fair play to them.

A few of the serious earners have pledged to give away most of their fortunes when they pass.

Paul11 · 8 Feb 2011 at 09:43

if you shared out all the money equally, over time people would spend it

and we would be right back to where we are now..

some people have more money than others