"Let's see, who are we hating on today?"

*reads memo*

"Jack Dorsey for..."

*reads further*

"...giving away 28% of his net worth to a charity organization."

...

Yep.

If you're one of those that blindly hate on billionaires no matter what they do, you might as well unfollow me right now, because this thread is about to get ugly.

The trend where people are hating on billionaires for simply existing is beyond ridiculous.

I'm literally out here, spending every day looking for investment opportunities with the goal of becoming one myself one day.

Just... what the actual FUCK is wrong with you people?!

YES, there are bad apples out there. And YES, some of them definitely deserve to be publicly shamed. But that doesn't mean we should group all of them together and place them all in a pillory.

There are dozens of billionaires out there that have donated huge amounts of money to charity, research, innovation, etc., THAT WE KNOW OF.

And there are at least a thousand more that have donated WITHOUT announcing it anywhere, with fears that it will be called "just a PR move"

"But they've only donated 0.1% of their net worth!"

So FUCKING what?! If it's more than you and your entire neighborhood will make in a lifetime, then that should still be applauded. They're still helping A LOT of people doing that.

Then there's also the stupidly common misconception about the definition of "net worth".

If a person has 4 billion dollars in net worth, that doesn't mean they have 4 billion dollars in their bank account that they can just spend on whatever.

Their "net worth" is the combined value of everything they own.

If you own a house worth 300,000 dollars, and a car worth 4,000 dollars. Your net worth is 304,000 dollars. But that doesn't mean you have 304,000 dollars on your checking account, does it?

So you can't just suddenly give away 200,000 dollars to charity. Unless you wanna sell your house first.

Most billionaires have at least 99% percent of their net worth tied up in stocks, usually in whatever company they co-founded.

And they can't just sell it and give away the money, because they're LITERALLY not allowed to.

All 1st world countries, including the U.S, require major shareholders to notify the public MONTHS in advance before selling their shares.

And even then, they still have to sell them slowly, in small batches, one day at a time, which could take YEARS if you own over a billion dollars worth of shares.

If they don't comply with that, they could face major fines and even PRISON sentences.

What Jack did is pretty genius. Because of the above mentioned, he couldn't just give a billion dollars to the Red Cross.

He transferred the ownership of some of his shares directly to another company, omitting the public market. It's literally the only way he could do it.

Then, all that aside, people have to consider everything these people have done that isn't strictly charitable but still has helped the world immensely.

The smartphone in your pocket, the electric car outside your house, the laptop in your living room.

Neither of those things would have existed had it not been for the previous generations of billionaires INVESTING their money into the companies that created them.

And all the employees, every single person working in the private sector has a job because someone invested a large amount of money in their employer decades earlier.

What the internet is currently doing is quite LITERALLY discouraging rich people from donating anything.

Maybe it's time to realize, that when the most effective way for rich people to avoid bad PR is by not doing ANYTHING at all, it's time to stop?