this post was submitted on 26 Sep 2023
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Work Reform

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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

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[–] Hazdaz 10 points 1 year ago (3 children)

Love how people are confusing salaries or yearly income to net worth.

Net worth is the total accumulated value of all the stuff you own (value of assets minus the liabilities) - houses, cars, investments, etc. That is massively different than what you are getting paid each year which is what a lot of people here are using as a metric.

It isn't out of the question for someone to make "only" $100 or 200k/year and be considered a "millionaire" by most people's definition. They might be older and have paid off their house. That house might be worth $500k and all the other stuff they own is a few hundred thousand more. Plus maybe $100k in some investment portfolio. Thus making them technically a millionaire. There are a lot more millionaires out there than people realize, including some people here or their parents or maybe grand parents.

That's not to take away from the argument that billionaires have too much money, but at least phrase the movement correctly. Stop equating someone making $50k/year with someone's who's assets are worth $1B. That's comparing apples to oranges and not just by the sheer difference in the numbers either.

[–] dangblingus 9 points 1 year ago (2 children)

Okay, but Zuck doesn't make 50K a year. He makes billions a year. AND he has a net worth of over $100B.

[–] meekah 6 points 1 year ago (1 children)

Meta makes billions a year. Zuck "just" makes millions.

He's definitely filthy rich, but it's not like he makes billions for his personal spending.

[–] yoppa 1 points 1 year ago* (last edited 1 year ago)

Well depends on the accountant. How to make an expense, a "business expense". Surely there's millions of expense going as facebooks business expense.