Bill Gates: 'For the first time in my life, people are saying, Okay, should you have billionaires?' via CNBCMakeIt
In America capitalism generates a lot of wealth, but it's landing in the hands of a very, very few. Microsoft co-founder Gates, Amazon founder Jeff Bezos and Berkshire Hathaway CEO Warren Buffett collectively have more wealth than the 160 million poorest Americans, according to a 2017 Institute for Policy Studies report. And people may just be sick of it.
Though Gates entertains the discussion, he thinks capitalism is still a good system and"the idea that there shouldn't be billionaires—I'm afraid if you really implemented something like that, that the amount you would gain would be much less than the amount you would lose," he said. And billionaire Bridgewater Associates billionaire Ray Dalio said"capitalism basically is not working for the majority of people. That's just the reality," at the 2018 Summit conference in Los Angeles in November.
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