Jeff Bezos is rich because millions of people use Amazon, and because the infrastructure Amazon built internally was good enough to be sold as Amazon Web Services, which powers an awful lot of the web sites we all use.
Amazon has made lives better for many people. Bezos’ relentless push to drive down costs and increase efficiency is not only why he is rich, but it’s also why you can order a $5 item with free shipping.
During the pandemic in particular, the existence of Amazon not only made a lot of people’s lives easier, but helped curb the pandemic by keeping people at home instead of going out shopping.
Elon Musk initially got rich by helping to solve the payment problem on the internet. He took the money from that and invested every nickel in SpaceX, to the point where he was living in a small apartment and was one rocket failure away from bankruptcy.
His constant push to drive down the cost of spaceflight and enable fully reusable rockets has made him lots of enemies in old space who like to trash him whenever they can, but the U.S. government now saves something like $60 million per seat every time they launch astronauts to the ISS with SpaceX, and the money stays in America instead of going to Russia.
SpaceX’s Starlink constellation will be a huge boon to rural people around the world who cannot compete because they don’t have Internet access. Starlink could bring high speed internet and the attendant commercial and educational benefits to poor people around the world. That alone could do more to improve global income inequality than all the redistribution plans the left might have.
Musk also is partly responsible for the widespread growth of electric vehicles, having figured out that building boring little electric boxes was not the say to capture the public. He decided to build electric cars festooned with ‘delighters’ like giant touch screens and ‘ludicrous mode’ that made them not just good electric cars, but desirable cars for their own sake. That, and Tesla’s massive investment in a nationwide charging network really changed the game.
While many billionaires spend their money on private Islands, gigantic yachts and palatial homes, these three guys are spending their money on things that will trickle down to all of us. Even the suborbital rockets and planes are advancing the technology.
It’s very odd that while there are many billionaires around who inherited their money and do little with it, or who made it through financial manipulation or currency speculation, or who use their money for purely hedonistic pursuits, we choose to attack three self-made people who got rich providing goods snd services that the public desperately wanted or needed, and who are spending their riches advancing the frontiers of space.
You could take all their money, every nickel of it, and it woukdn’t make a tiny dent in income inequality. If you taxed those billionaires 100% of their wealth you would crater the economy, and the money raised wouldn’t even pay down 10% of the debt. It wouldn’t even pay tor Biden’s proposed ‘stimulus’. And if we had done that 20 years ago there would be no SpaceX or Amazon today.