AS I write this piece, there are 2,604 billionaires in the world. The 26 richest people in the world own more wealth than the bottom 50% of the entire population, and the richest person in the world, Amazon CEO Jeff Bezos, now holds over 128 billion dollars in wealth. To put this into perspective, Mr. Bezos could buy every team in the NFL and still have $36 billion left to spend, which would only make him the 28th richest man in the world. Meanwhile, the World Bank estimated that 8.6% of the world population lives with $1.90 a day—a salary so low that one would take 185 million years to acquire Mr. Bezos’ wealth. And if that isn’t enough for you, there are also 860 million people without access to electricity and 2.5 billion who lack access to improved sanitation. The difference between the richest and the poorest is, put plainly, shocking.
Some politicians, like Bernie Sanders and Alexandria Ocasio-Cortez, have reacted to this level of inequality by arguing that billionaires should not even exist in the first place. However, if you’re not a progressive, you likely disagree with what they have to say. But looking at the problem by focusing on freedom and power might change your perspective. While many have defended billionaires through economics, now is the time to bring a more political argument into the discussion.