If your dad is Bill Gates, you’re probably not getting a Starbucks gift card for graduating college.
In 2018, Jennifer Gates walked off the Stanford stage and onto a 124-acre, $15.82 million horse farm in North Salem, New York. According to Architectural Digest, the lavish estate was a graduation gift from her billionaire parents—and came complete with rolling pastures, three parcels of land, and proximity to New York City for her future studies.
But in case that sounds too much like the plot of “Succession: Equestrian Edition,” Melinda Gates would like to remind everyone: their kids were absolutely raised “middle class.”
Rich people always, without exception, fail to recognize their own disconnections from reality.
These motherfuckers clearly need to be paying more taxes.
Something Bill Gates actually agrees with. He’s one of the super rich who has been outspoken about the rich needing to pay more taxes.
Something Bill Gates actually agrees with
It’s always interesting to me how people bring this up regarding Gates and Buffett, as if that makes their largesse and greed at the expense of others perfectly acceptable. It’s easy to say you support something when you know you’re never going to be held accountable for following through.
Few things in life are pure binary, and that’s especially true of humans themselves. My take on Gates is that he was a smart but cutthroat businessman who did a number of things that were at least somewhat unethical, and became one of the richest people in the world. Then he got older and started thinking about his life and his legacy. He has been giving away huge sums of money to really worthwhile causes, like trying to eradicate malaria. He seems pretty sincere in his lobbying for increased taxes for the rich.
Does his philanthropy now erase his unscrupulous behavior when he was young? Not to me, but I do believe he’s genuine in wanting to make the world s better place and putting his riches to good use.
Pff, he is still a piece of shit even with his “philantropies”. For example, he has given some money to fight some diseases (though even then there is an argument to be made that his focus on fashionable diseases has taken resources away from more pressing diseases affecting the global south, but that’s another discussion). But then as soon as it was convenient for him he rallied against lifting the patents of Covid-19 vaccines during a pandemic (https://www.wired.com/story/opinion-the-world-loses-under-bill-gates-vaccine-colonialism/). So what fucking good are his philantropies if he still acts like a piece of shit at the most crucial moments. Everything he does is just to increase his power and influence, and to whitewash his image. He is still the same piece of shit he has always been. You have to be purposefully naive to think anyone who remains a billionaire is trying to do any good.
Everyone say it with me, “THERE. ARE. NO. GOOD. MILLIONAIRES. OR. BILLIONAIRES.”
…and not living behind gated walls. My partner works construction in some truly outrageous "communities " and the people in our city don’t even know the lavishness of the lives of those who live there.
Much like the soon to be german chancellor, who told an interviewer, that he is upper middle class. All that while being a former Blackrock manager and owning (and using regularily) a personal private jet. Thats some kind of chancellor material…
You’ll love this:
Oh, I indeed love this XD Thanks for that
Tbf, it is “merely” a private prop plane, not a jet (which would be significantly more expensive still). But yeah, not exactly middle class material…
What could a horse ranch cost? $10?
They mean billionaire middleclass.
I think they actually do. $16 million is like weekend money for them, I’m guessing
They don’t even spend that money, as is all billionaire spending. They borrow against their assets and profit enough to pay back the loan so they literally don’t spend money by using that credit line to buy more assets. Gates, bezos, musk, etc. depending on their market situation they could literally take a piss and be 16 million dollars richer or poorer and it wouldn’t matter.
I want to be this middle class…
“Middle class” isn’t a thing. There’s the working class and the ruling class.
Rich people are so goddamn out of touch with reality.
Lol “middle class”… Does anyone know a middle class family? I just see people with money, and people who don’t have enough. That’s the real world… Maybe long ago there was a middle class?
I’ve met people who had enough but not too much. Never hurting for money, one vacation a year out of state but not out of the country, bought cars new but drove them for decades. Working class, but comfortable.
https://www.pewresearch.org/race-and-ethnicity/2024/05/31/the-state-of-the-american-middle-class/
Diminished sure, but still the largest group.
Well, okay, if that’s upper class then what size ranches do middle class people buy for their kids’ graduation?
You crazy LEGO is crazy expensive!
Mattel brand. Less cost on maintenance also.
and gates has to reinvent his image with his “charity work” he still a ruthless businessman, and countries complained about his vaccine requirements as well.
In 2018, Bill Gates’ net worth was approximately $90 billion. His estimated income was around $12 billion, according to estimates from Business Insider.
In 2018, the median net worth of an American household was $101,800. I chose median cause these billionaires drastically skew the mean. The median household income was $63,179.
If an average American household gave the same scale of gift in 2018, based on household income, the gift would be $83.29, and based on net worth, it’d be $17.89.
Maybe that’s why these 1%ers wealth hoard so hard, maybe they genuinely think they ARE middle class.
They’re either extremely uneducated in current standards of living, or being purposefully deceitful. I’d like to think it’s the former. They should have a class for rich people so they can understand what life is like without family money or high salaries.
No class can teach you what it feels like to be a few bucks away from homelessness.
When the class is over the billionaires go back to their worry free lives. The poor worry about ending up on the street.
See now if failure to pass the empathy class results in your forced destitution there might be some incentive to pay attention
Made me think of the Meme: “Who wants to be a millionaire? - but with Billionaires, so it’s more of a threat.”
If we made empathy classes a must with our current governing systems, I cannot imagine them not beeing corrupted and used against the poor within seconds of becoming obligatory.
being purposefully deceitful
Warren Buffet keeps around the house he bought in Omaha, Nebraska in 1958 and brags about how little it is worth. The man travels on private jets and sleeps in hotel high rises, surrounded by an army of aides and adjuncts and a smattering of medical staff. But he’s still got the title to that old homestead from sixty years ago, so he’s perpetually middle class according to business talking heads.
I remember seeing a clip a long time ago of someone asking Gates how much a box of rice-a-roni is and he was like… 5$?
I’d have the same difficulty tbh. I don’t live in the US so no rice-a-roni here anyway, but there are a lot of premade foods available here too, and… I just don’t really buy them very often, even if I’m alone, I just cook or throw like a frozen pizza in the oven, but I don’t experiment a lot with those boxed meals. I also only ever buy stuff like laundry detergents at discount so I never even think about the normal price. I go to the store, see a detergent at the regular price, go “fuck no” and buy something else that’s on discount and half the price per liter or per pod. There’s nearly always something available for a good price, sometimes it’s a local brand that’s already cheaper than the foreign brands.
I can, however, tell you the prices of different pasta brands (the cheaper ones, not the expensive ones) to within 20 cents. Usually half a kilo of dry pasta is like 1.19, or under 1 euro on discount. Frozen french fries - used to be around 1.20 for 750 grams, jumped to something like 1.79 and hell I think in some stores it’s 2.19 now unless there’s a discount. Pack of mince meat - depends on size and whether it’s pork, moo or a mixture of both, somewhere between 2.50 and 5 euros per package.
In the U.K. there’s a somewhat popular TV series called “Rich House, Poor House”. We still worship the rich.
Well put yourself in their shoes. They ARE the middle class when they are surrounded by only the top 1%.
We are not existant/irrelevant others. That will stay the same as long as their heads remain attached.
I like your style.
When you are a billionaire a $16m ranch is middle class.
Remember the difference between 1 million and 1 billion, is 1 billion.
It’s not. It’s 999 million.
rounded up
Eh, it’s a 0.1% difference
Correct.
It’s well within tolerance. Functionally 1 billion :p
I’ll gladly take the difference.
To be fair, out of all the billionaires they at least have made attempts to not make their kids shiteheads which is in stark contrast to most billionaires. At one point in time at least, they were only leaving $10m to each child, with plans to donate everything else.
Is that enough to live better than 99.99% of us? Absolutely. But it’s also not: I can do whatever I want and buy whatever I want and never have to think about money again.
leaving $10m to each child, with plans to donate everything else
The plans were to donate everything else to a tax-advantaged “charity” in which the Gates family retains complete financial control.
This is not philanthropy. It is tax avoidance, greenwashing, and a public relations campaign.
when gates was on reddit, he choose AMA sub, so he wouldnt get criticized, they wouldnt allow you to question him on his charities being used tax evasion or money laundering.
this is not how generational wealth work.
lets say you are 17. having a party in the house with 100k cash in your bank account. you hear dad talk about a big merger “this company will be this company and the stock will go up” you put 50k on that and now you have 300k or something.
I sat with a few upper class once, if I have cache on hand I will be millionaire by now, it doesn’t take much to get rich when you hang out with rich people…
It’s more like “Hey, I have an idea for a new type of toilet. Can you get me a meeting with your golf buddy who is the CEO of the largest toilet company in the world?”. This is literally how Microsoft started.
But it’s also not: I can do whatever I want and buy whatever I want and never have to think about money again.
That’s all she’s saying. They raised the kids with limits. That’s what she should have said. They obviously weren’t raised “middle class” or anything like it.
I mean, its really open to interpretation.
If Melinda got them up in the morning, made them breakfast and drove them to school herself and picked them up (Even if its in a Bentley), make their snacks when they get home and helped them with their homework(even if you’re getting the snacks out of a walk-in fridge and the housekeeper bought them) thats some regular people shit.
If you have the nanny get them up, the driver take them to school and pick them up then their tutor helps them with their homework while your chef asks them what they would like for dinner… thats not.
I don’t agree that it’s open to interpretation or that your first example constitutes “regular people shit” in any meaningful way. I agree that there’s a difference between having servants and not, obviously, but I don’t think it’s that helpful of a distinction here.
Second of all, flying on a private jet and living in a mega mansion is in no way middle class. I just can’t get on board with the idea of mom picking you up in a Bentley and getting snacks out of a walk-in fridge as being middle class.
I think my point stands. I think it was good to raise them with limits and some humility, that will help them in life, but I think “middle class” and “regular people shit” is simply inapplicable here.
