It's hard for me to not be filled with jealousy and even a bit of anger when I see into the lives of the ultra-rich like this. I'm angry because there are so many good, hard-working and deserving people that are struggling to make ends meet while doing everything right to try improving their life, and then there are these people that live better than kings. They live like Gods with all the best comforts and luxuries the 21st century can provide. What these people would spend on one night of fun is often more than what the average family has to work for an entire year or more to earn while just providing basic food and housing needs.
This reality is frustrating, but at the same time, these yacht buyers are not just burning money out of existence. Watching this documentary showed me that there is an entire industry around the yacht world that employs thousands of people. I'm jealous that one person can have this kind of wealth to enjoy such luxury, but in so doing they provide jobs to the thousands of people involved at all stages: designing the boat, building it, interior design & finishes, the broker to sell the boat, the marinas to store it, and the staff to operate and maintain it. Those billionaires aren't driving it or cleaning it themselves, of course. Plus, there are also any other party/catering services they employ on their adventures.
My first thoughts regarding billionaires is that they shouldn't accumulate this much wealth in the first place. Why? Because I would love to see that excess money be used to help more people in ways like providing more scholarships for people to get an education to improve their lives, pay for healthcare, and boost the pay of more employees at the companies they own. Yes, people wouldn't have jobs without their companies, but they also wouldn't have their companies without the people doing the actual work. The people that start the company or have the great idea in the first place should be rewarded, but at some point it starts getting out of hand where I think it's too much of a reward for not enough actual input. Maybe some of you can comment and help me figure out at what point the scale tips when it's too much. When is somebody considered too rich?
So I have the idea that billionaires or multi, multi-millionaires - I'm talking net worth in the hundreds of millions - should not accumulate so much wealth because they should be paying more to the people that work for them and create their wealth, and/or their services should be made more affordable unless your business model depends on it such as an expensive brand name or something. However, after watching this documentary I am reminded of how I might be wrong. Since they are still dropping big money to the thousands of people in the yacht industry, does it matter that they're able to afford such extravagant luxuries? They are still paying a lot of money to a lot of people in other industries. Is this still a bad thing? Why or why not? Where can we do better? What are your thoughts on the yacht industry?
One thing that can be helpful is if more people donated or loaned money here at Invested Alternative to grow our fund to help more people. Let us keep the interest earned for a time and put it to work doing good, then you get your money back later to go spend on a yacht party. With strength in numbers we hope to grow and help more and more people.
In July 2021, someone asked reddit users the following question: "People who cater to the super rich, what things have you seen?" There is an enormous number of responses and many of their stories are fascinating and provide an interesting read. You can find that thread here.
The main focus of our discussion is about what struggles people face trying to get into or maintain a middle-class life and prepare for a better future. What would help? We discuss jobs, economy, politics, inequality, other life observations, and most importantly, helping people. Get to know us better and join the conversation.