The Impoverished Elite

After watching, Johnson and Johnson heir, Jamie Johnson's documentary, The One Percent, which explores the "political, moral and emotional rationale that enables a tiny percentage of Americans - the one percent - to control nearly half the wealth of the entire United States" it reminded me of a conversation I had years ago, while attending college.

"Today's wealthy have become an increasingly isolated elite....rather than using their wealth for good, they have used it to restructure the economy, lower their taxes, cut social programs for the middle and lower classes, and amass ever more wealth." - Jamie Johnson

I remember talking to a very wealthy friend who told me how lucky I was to be middle class. In so many words, he told me that those born into great wealth have a lot in common with those born into poverty. Both sets of children starve for the basic necessities in life, that is, if you consider love, and a sense of purpose, a necessity. 

As we continued to walk along the tree lined streets of the campus, he then pointed to a building up ahead,  "You see that building?"  I nodded.   He said, "My father donated the money for its construction...to keep me in school... I was flunking out."  I asked him if  he improved his grades.  He shook his head, and told me, "Why? My father already paid."  As if getting good grades would render the money his father paid to keep him in school, a waste.  As if the only thing that really mattered was his father's money, and what it could buy.

In the film, Warren Buffet's severe response to his granddaughter, Nicole's participation in the documentary, The One Percent, illustrates just how "impoverished" the elite can be, and often are. You see, the value of money is lost if it becomes your master...your god. Nicole Buffet, much wiser than her grandfather, is one of the few born into the prison of immense wealth, courageous enough to break free.  

So, as much as we may feel like the shackled,  perhaps we're the fortunate ones, as most of us don't have enough of it to enslave us, whereas the wealthiest amongst us, are reduced to $erving it, as is very evident in Johnson's film.

"You might think I'm an idiot. My family's one of the richest families in the world. But not with money...with love, tolerance, kindness and patience...qualities worth more than money, and you can't buy that. They taught me how to love people as they are, not how I want them to be. They taught me how to get along with people. They taught me to treat people the way I want to be treated. They taught me to treat each person for who they are and not clump them together because we're all different in our own ways...that's the richness that I was brought up in." -- Truck driver in the documentary, The One Percent

Yep, there are riches, even more precious than money. And the best part is that these riches can't be taken from you by any robber, or any enemy, no matter how powerful.

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Number of Billionaires More than Double in Six Years

Rather than delete something I forgot to publish from March 2006, I thought I'd post and update the staggering increase in the number of billionaires over the last six years, The tremendous amount of wealth accumulation in so few hands, in so little time, is truly incredible.

In 2006, the world had 793 billionaires, their combined net worth exceeding the combined net worth of the world's poorest 2½ billion people. Their total worth was $2.6 trillion. Saudi Arabia, whose 11 billionaires were worth $68 billion, compared to 2005, when its seven billionaires were worth only $42 billion stood out as one of the areas with the greatest concentration of wealth.

2007: Wall Street Billionaires


Fast forward to 2008 and the world has 1,125 billionaires worldwide, up 179 from last year. Their total combined net worth: $4.4 trillion, up 26 percent from the total wealth of last year's billionaires.

2008: Inside the Forbes 400

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Will Billionaires Save the World?

Will President Bush move to Haiti and minister to the poor, January 21, 2009? Will Wall Street repent and give half their earnings to hard-working, tax-paying Americans? If history is any indication, the answer is, not a chance.

Nevertheless, there is a first time for everything.

Of the world's approximately six-billion residents, one in every four lives on less than a $1 per day and one in every 850 is a millionaire. Of those seven-million millionaires, one in every 134 has assets of over $30 million and of those 152,000 with assets over $30 million, one in every 100 is a billionaire.

These statistics are not likely to change any time soon, however, Matthew Bishop, author of Philanthrocapitalism (How the Rich Can Save the World) seems to think otherwise. Forbes.com interviewed him regarding How to be a Good Billionaire.

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Jesus Who?

Names like Bill Gates, Warren Buffet, Martha Stewart, Howard Hughes and every other wealth-creating titan's name normally roll off our tongues as if they were part of our family. However, a physician, who revolutionized the delivery of health care around the globe and is responsible for saving millions of lives in Rwanda, Haiti, Peru, Russia, United States, Malawi and Lesotho? Never heard of him. That is, until 60 Minutes aired a 10-minute segment on Dr. Paul Farmer, tonight.

Jesus Christ, or Jesus H. Christ as some people like to refer to him, is spoken every day, all over the world, and uttered more than all the household names in history combined, yet Dr. Paul Farmer's work resembles Jesus Christ's work a hell of a lot more than any of the titan's names I just mentioned. I guess it's a good thing Jesus Christ lived 2,000 years ago because if he lived today, Mr. Jesus Christ would come and go just like any other Tom, Dick, or Harry.

But, thanks to 60 Minutes, I now know who Dr. Paul Farmer is and I know about his pet project, Partners in Health (PIH), which he started twenty years ago, but please don't ask me who this man is next year, next month, next week and possibly even tomorrow...I will have forgotten.

The PIH Vision: Whatever it takes
At its root, our mission is both medical and moral. It is based on solidarity, rather than charity alone. When a person in Peru, or Siberia, or rural Haiti falls ill, PIH uses all of the means at our disposal to make them well—from pressuring drug manufacturers, to lobbying policy makers, to providing medical care and social services. Whatever it takes. Just as we would do if a member of our own family—or we ourselves—were ill.

PIH has been ranked as one of the top three charities for saving lives reliably and cost-effectively by Givewell.net. The charity research group cited PIH as "the 'lowest-risk' charity available" because "its model is extremely logical and tangible, and we have high confidence in it."

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