How many times have you thought, “If I was a billionaire all of my problems would be solved”? Having a lot of money won’t cure all of your woes, but it can definitely provide stability and relief.
While there are many responsibilities that accompany having money, it just might be the solution to society’s largest financial struggles. The richest people across the globe could potentially diminish or resolve widespread, deep-seated financial issues. Imagine if billionaires settled monetary problems rather than augmenting the disparity.
With the increasing cost of living (education, healthcare, housing, etc.) individuals are entering the insidious cycle of acquiring debt before they even have salaries to pay it off. As progressive and innovative as America is, the amount of people living in poverty or near-poverty (about a third) is disheartening. Even those that live comfortably struggle to make credit card, healthcare, and other necessary payments.
If there was a relatively easy fix we would have implemented it already, right? Not necessarily. A study conducted by Self Lender discovered that the billionaires of the world could answer our cries for help. If they each gave small percentages of their fortunes, they would sufficiently solve the United States’ biggest financial challenges.
Self Lender analyzed the practicality of this vision using the total number of billionaires and their average net worth to crunch the numbers. They concluded that economic dilemmas we’ve been dealing with for decades, such as low minimum wage and homelessness, can be fixed simply through generous donations. How much is a “generous donation”? Check out the infographic below to find out.
This graphic is brought to you by Self Lender