Worker Puts Millionaire CEO On Blast After He Laughs At Employee For Not Having $200 To Spare
Life is typically different “in a rich man’s world” compared to that of people with less wealth. But they often forget about such differences, be it the lifestyle or the wallet they relate to.
Redditor u/Jonsnowlivesnow recently told the ‘Antiwork’ community about their CEO’s reaction to an employee not having money to spare. The latter didn’t have $200 on him, which didn’t bring out the boss’ nicest of colors. Scroll down for the full story below.
Some wealthy individuals seem to forget that not everyone out there is on the same level financially
Image credits: Safa Bakırcı (not the actual photo)
This CEO berated their employee for not having an extra $200 on him
Image credits: Ahsanjaya (not the actual photo)
Image source: Jonsnowlivesnow
Wealth inequality is a problem in quite a few countries all over the world
Image credits: Timur Weber (not the actual photo)
People abundant with money might not think twice about spending a hundred or two here and there. But what can seem like minor expenses to them are actually quite significant sums to others. Unfortunately, such inequality exists in most countries worldwide, but in some, the situation is noticeably worse than in others.
World Population Review took a deeper look into the global situation of wealth inequality, also known as wealth gap, referring to the difference between the wealthiest and the poorest of people in a given country. It pointed out that it is usually measured using the Gini index—a statistical measure to gauge economic inequality named after an Italian statistician, Corrado Gini (which goes from 0% to mark perfect equality to 100% signifying the maximum possible inequality).
According to World Population Review, the African countries of South Africa, Namibia, and Suriname boast the largest wealth inequality, with the Gini coefficient of 63.0%, 59.1%, and 57.9% respectively. In the list of ten countries with the worst wealth gap, they are followed by several other African countries and Brazil (53.4%). Slovenia is reportedly the country dealing with wealth inequality the best, featuring a Gigi coefficient of 24.6%; it is followed by the Czech Republic and Slovakia, both with 25.0%.
The situation can vary significantly not only among countries but among individuals as well, which is clear by looking at how much wealth the planet’s richest people acquire. Oxfam International revealed that the top 1% of them rounded up nearly two-thirds of all new wealth generated since 2020, adding up to a staggering $42 trillion. It also pointed out that for the first time in 25 years, extreme wealth and extreme poverty have increased simultaneously.
There’s also quite a wealth gap between the 1% of the planet’s wealthiest people and the rest of the world
Image credits: RDNE Stock project (not the actual photo)
According to Oxfam, since 2020, during the years of the pandemic and the cost-of-living crisis, the top 1% of world’s wealthiest people captured 63% of all new wealth (roughly $26 trillion), while the other 37% (adding up to $16 trillion) went to the rest of the world. It also suggested that over the last decade, the number of billionaires, as well as their wealth, have doubled.
Even though the last decade was seemingly a favorable one for the ultra wealthy, the last year wasn’t, Forbes suggests. It pointed out that all the planet’s billionaires together are now worth roughly $12.2 trillion—$500 billion less than in March of 2022.
Forbes also noted that the US remains home to the largest number of billionaires, “with 735 list members worth a collective $4.5 trillion”. It is followed by China, including Hong Kong and Macau (562 billionaires worth $2 trillion) and India (169 billionaires worth $675 billion).
Based on Forbes 2023 World Billionaires List, the title of the wealthiest man on earth currently belongs to Bernard Arnault, a French business magnate and the chairman and CEO of the French conglomerate LVMH (a luxury-products company comprising well-known fashion and cosmetics brands, such as Louis Vuitton and Sephora). The second place belongs to Elon Musk, another business magnate and investor, as well as CEO of Tesla Motors, among other things. The two are followed by Jeff Bezos, Larry Ellison, and Warren Buffett respectively.
Some people are far from millionaires, but wealthy enough to consider $200 petty cash; however, the majority of us mortals would likely not. Especially now, during times of financial uncertainty, which have led more than half of Americans to a state where they don’t have enough emergency savings to cover three months’ worth of expenses. That might be one of the reasons quite a few redditors condemned the CEO’s reaction to the financial state of his employee.
The redditor revealed more details in the comments
People shared their thoughts about the situation
I worked for a religious school. At the retirement party, the bishop asked me if I intended to travel now that I was retired. I had to reply, "On the pension you're paying me, I'll have to save up for trips to the grocery store." His Eminence moved on to the next retiree.
A bishop... If thàt doesn't automatically make you the top 1% I don't know what does. A shame, but sadly not surprising he doesn't follow Jesus, who should be his example, and connect with the working people.
Load More Replies... I recall back in the day (1980s) we'd always receive a cash advance before going on a business trip. Even in the 2000s it was normal if you were going somewhere you needed a different currency. Yes, by that time it was expected that everyone would have a credit card, but there was no guarantee of your expenses being reimbursed before the credit card bill needed paying.
I worked for a religious school. At the retirement party, the bishop asked me if I intended to travel now that I was retired. I had to reply, "On the pension you're paying me, I'll have to save up for trips to the grocery store." His Eminence moved on to the next retiree.
A bishop... If thàt doesn't automatically make you the top 1% I don't know what does. A shame, but sadly not surprising he doesn't follow Jesus, who should be his example, and connect with the working people.
Load More Replies... I recall back in the day (1980s) we'd always receive a cash advance before going on a business trip. Even in the 2000s it was normal if you were going somewhere you needed a different currency. Yes, by that time it was expected that everyone would have a credit card, but there was no guarantee of your expenses being reimbursed before the credit card bill needed paying.
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