How billionaires spend on them money? You might be curios, but on April, Steve Kroft of CBS News did an interview with Michael Bloomberg in how he build Bloomberg media empire, running as New York City mayor, then collect $47B money, and accomplish by giving it away.
Bloomberg: “Oh, it’s more money than anybody could possibly spend on themselves. The issue is what can ya do with it? You can’t take it with ya, although I have a cartoon at home of a guy on his death bed in a hospital with the rails around and his family looking down like vultures. And he looks up and he says, “I know I can’t take it with me, but I can take the access code.”
So how he use his money?
To some it’s just another example of the super wealthy having a disproportionate influence on political debate and public opinion. Bloomberg has spent a billion dollars trying to get people to quit smoking, $135 million to battle the NRA on gun control, and a $100 million to assist the Sierra Club and its lawyers in shutting down more than 250 coal fired plants. He also spend more than $5B of his fortune to his political interests.
Here is the full story.