As I left for work this morning, I caught Jack Ma (founder of Alibaba) on the news, at Davos, commenting on the responsibility of having over a billion dollars in wealth. I tried to find a video of his quote, but have turned up nothing. Maybe one of our readers might find it.
I may have misinterpreted what Mr. Ma said, but his comment was something to the tune of "If you have a billion dollars, it's not just yours. It became yours because the people who gave it to you felt you would do better things with it than anyone else, like the government. This places a responsibility on the person with a billion dollars, and is why I will seek to do good with this money."
As I said, I may have not heard it precisely or interpreted it correctly. If I did, it is a view I agree with(although people didn't give him anything, they exchanged money for a product or service he provided which made everyone better off).
All told, I'd prefer to not have a billion dollars in wealth. Too much responsibility, too many headaches. People who amass fortunes like this, however, have made the world better and this is why I don't oppose or envy their wealth. As Ma intimated, they can do better with the money. This is one reason I enjoy watching shows like Shark Tank. Not only do I learn insights on how to manage a business, but I see wealth at work producing things people want or need.
People who believe the wealthy sit around pools drinking margaritas all day (I've had people say this to me) have no idea where wealth comes from or how it is made. Those people may exist, I'm certain they do. Their wealth, however, does not last as long as you'd think. Their money must be working at improving lives through exchange or production, somehow, for them to spend the rest of their lives poolside. Real wealth creators, however, are always doing good with their money, even if it's just managing their companies (which provide jobs, goods and services) or coming up with new ideas that people want or need.
I am reminded of two groups of people. One which earned money, and knew how to create it but not how to use it. Another which was given the money, and the headaches it caused.
By and large, I believe if you're smart enough to earn the money through productive or creative capacity, as Jack Ma did, you're likely to know what to do with it. If you lucked into it, you're unlikely to have a good idea of what to do without some professional help.
Then there is a third group I forgot to mention. Politicians. I believe they are more like lottery winners, though they believe they are producers. I see them as popularity contest winners who are handed a blank check and haven't a clue what to do.
