Bill Gates, Jeff Bezos, Warren Buffett, Mark Zuckerberg, and Globalization

The following is a list of the wealthiest individuals in the U.S. at the end of 2017. Bill Gates, age 62, is worth 89 Billion dollars.  Jeff Bezos, age 54, is worth 82 Billion dollars.  Warren Buffett, age 87, is worth 78 Billion dollars.  Mark Zuckerberg, age 34, is worth 71 Billion dollars.  Larry Ellison, age 73, is worth 59 Billion dollars.  Charles Koch,82,  and his brother, 78, David are each worth 49 Billion dollars.  Mike Bloomberg, age 76, is worth 47 Billion dollars. Larry Page, age 45, is worth 45 Billion dollars.  Sergey Brin, age 44, is worth 43.5 Billion dollars.

What do the ten richest individuals in the U.S. have in common.  First, they are all men.  Second, they are all White.  Third, they are all conditional supporters of globalization.

What exactly is globalization? The answer depends on exactly who you ask. Globalization encompasses many things such as the international flow of ideas, the international flow of information, the interactions of cultures, and even the global environment and the global environmentalist movement.

My recent studies of globalization have focused on economic globalization.  Economic globalization could be defined as a stronger economic interaction of all of the countries of the world through increased flow of capital, labor, products, and services.  The noble aim of economic globalization is to help poor countries become richer and provide them with better markets for their products.

Globalization, in reality, does not always help poor countries become richer.  Often globalization helps the world’s richest individuals become richer.

Interestingly, our first billionaire President, Donald Trump, is not a supporter of globalization.  Mr. Trump is often referred to as the ” Blue collar billionaire,” because he has a sharp focus on helping working-middle income Americans increase their net worth through better jobs and higher employment.

Charles and David Koch, mentioned in the list of the ten richest Americans, have until recently only supported republican candidates for congressional offices and for president. In 2016, the Koch Brothers, did not support Donald Trump and in 2018, are not supporting republican congressional candidates as they have in the recent past.

George Soros, age 87, is worth about 23 Billion dollars.  He would be about number 20 on the richest list of Americans.  Soros continues to support and donate to some extremely left wing organizations. This is his legal right, but there has been a shortage of billionaires in the past who supported far left organizations and Socialist groups like Soros does.

As I studied the inchoate and somewhat arcane field of economic globalization, I have discovered an economic theorem that many of the Prize winning Nobel economists have not discovered. They missed it completely.

If you make a list of the 200 richest individuals in the world, they support all aspects of globalization that will increase their net worth.  Additionally, the 200 richest individuals in the world will oppose all aspects of globalization that will decrease their net worth. It is a perfect correlation.

Allow me to spell out the main reason why some billionaire globalists oppose Donald Trump.  Mr. Trump has increased the wages of all working and middle income individuals in the U.S. with his very sensible economic policies. U.S. workers are earning higher salaries under President Trump.  The billionaire globalists who make a bundle of money by using very cheap human labor in foreign countries are under pressure from foreign workers to raise their wages like the American workers received. Are you sad that some globalist billionaire has to reduce his net worth from say $ 12.6 Billion down to about $ 12.2 Billion? Of course that does not bother you, but it irritates the multi-billionaires who want to see their own net worth increase every year.  Also, Mr. Trump’s fair trade for America is really helpful to the working-middle income Americans, but may reduce some  multi-billionaires net worth by a fraction of one percent.

I agree fully with President Trump’s policies that will help make America Great Again and will make America richer. While Mr. Trump has some billionaire supporters, he has fewer billionaire supporters than other Presidents have had.

R. Van Conoley   ( Editor’s Note: There are at least four billionaires who are considering seeking the Democrat nomination for president in 2020. It seems about a 99% safe bet to wager that the 2020 Democrat Presidential nominee will be a billionaire and an individual who has never held public office before. )

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