Hypothetical situation, you are a normal person you’ve likely struggled all your life with bills and debts and then one day you randomly find yourself a billionaire. Perhaps you inherited it, or won the lotto. What would you suggest a person in that situation do? This is would be a once in a lifetime opportunity, , you could finally not have to stress about money, but in order to save your soul should you give it all away to charity and go back to your normal life as though nothing had happened?
Edit: I was legitimately curious what the ethical solution would be if one were to find themselves in that exceedingly rare situation that I described. But okay looks like I ruffled a few feathers by asking.
Honest answer? Call up a fiduciary firm in LA, NYC, London, Tokyo, or Paris, whichever you are closest to. Demand to speak with a partner. Let them know that you are working with 11 figures liquid, that will get you a senior partner. Set up a massive trust with the entire lump sum, there y ensuring the best ROI you can get. Split off $5 million blind and bridge trusts for yourself and any family and friends you want to help. Turn the rest of the money over to a board that must be made of 2 fiduciaries one from a NYC firm, one from a firm in any of the other aforementioned cities, and 3 data analysts. 2 must be from Oxfam, the third must be top of the field. Those 5 board members then run “The Sovereign Trust for Humanity’s Poor,” which then use a percentage of the ROI to set up trusts for the poorest people in the world first. Not for their government, or some other organization. They get life changing money to spread around their community.
Add in stipulations that trust beneficiaries are NEVER allowed to have more than $50,000,000 in wealth at any time, and that they should pressure their governments to create a maximum wage.
One can live their entire life with a lot less than a billion. Even putting 99% of it away to a good cause leaves 10 MILLION. Again excessive for a lifetime.
Being a billionaire should be listed in the DSM as a mental illness.
Hypothetical situation, you are a normal person you’ve likely struggled all your life with bills and debts and then one day you randomly find yourself a billionaire. Perhaps you inherited it, or won the lotto. What would you suggest a person in that situation do? This is would be a once in a lifetime opportunity, , you could finally not have to stress about money, but in order to save your soul should you give it all away to charity and go back to your normal life as though nothing had happened?
Edit: I was legitimately curious what the ethical solution would be if one were to find themselves in that exceedingly rare situation that I described. But okay looks like I ruffled a few feathers by asking.
Spend all but a reasonable portion on materially, directly improving the world
Then retire on a million
Honest answer? Call up a fiduciary firm in LA, NYC, London, Tokyo, or Paris, whichever you are closest to. Demand to speak with a partner. Let them know that you are working with 11 figures liquid, that will get you a senior partner. Set up a massive trust with the entire lump sum, there y ensuring the best ROI you can get. Split off $5 million blind and bridge trusts for yourself and any family and friends you want to help. Turn the rest of the money over to a board that must be made of 2 fiduciaries one from a NYC firm, one from a firm in any of the other aforementioned cities, and 3 data analysts. 2 must be from Oxfam, the third must be top of the field. Those 5 board members then run “The Sovereign Trust for Humanity’s Poor,” which then use a percentage of the ROI to set up trusts for the poorest people in the world first. Not for their government, or some other organization. They get life changing money to spread around their community.
Add in stipulations that trust beneficiaries are NEVER allowed to have more than $50,000,000 in wealth at any time, and that they should pressure their governments to create a maximum wage.
The difference between not stressing about money and having a billion dollars is about a billion dollars.
One can live their entire life with a lot less than a billion. Even putting 99% of it away to a good cause leaves 10 MILLION. Again excessive for a lifetime.
Not even as a joke. I oppose systems that create macro wealthy and powerful. Those systems create sociopaths.