i oppose it in all its forms, and i spend much of my time at cato arguing against it. That sort of deck tilting by government makes us poorer. It diverts resources to un productive ventures. It encourages lobbying. But the truth is, the majority of billionaires didn't get wealthy from government favors. Most got extremely rich by providing the ideas leadership or capital for products that we as customers vote with our wallets to buy because we value them. The watsap ap generates five to ten billion dollars a year in annual revenue. So why should their wealth be now plundered?
Reportedly the planet's richest person, multibillionaire Elon Musk is currently seeking to buy the World's online public square, Twitter. Should billionaires be able to buy so much influence? For this week's Sunday Debate we revisit a discussion from 2021 investigating just that, when we invited Professor Linsey McGoey of Essex University and Ryan Bourne of the Cato Institute go head to head on whether society should tolerate the existence of billionaires. The debate was chaired by Economics Editor at BBC Newsnight, Ben Chu.
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