Billionaires Should Not Exist

Written By Evolve California

Forbes' latest World’s Billionaires List reports a record 2,781 billionaires globally, with 813 of them residing in the United States. California is home to many of these ultra-wealthy individuals, particularly in the Bay Area, where tech industry magnates dominate the list. The wealthiest Californian, Meta CEO Mark Zuckerberg, ranks fourth globally with a net worth of $177 billion. The list’s top three includes French fashion mogul Bernard Arnault ($233 billion), Tesla CEO Elon Musk ($195 billion), and Amazon founder Jeff Bezos ($194 billion). All the top Californian billionaires have seen their net worth increase from the previous year, as calculated by stock prices and exchange rates from March 8, 2024.

The existence of billionaires, especially in a state like California, underscores a glaring injustice. While the wealth of tech moguls soars to unimaginable heights, our teachers struggle with unlivable wages, and our schools remain severely underfunded. How can it be that the same state hosting the richest individuals in the world fails to provide basic financial stability and resources for its educators and students? This disparity is not just unfair; it is a stark indication of systemic inequality. It's high time we demand a society where wealth is more equitably distributed, ensuring that billionaires, whose existence perpetuates economic imbalances, contribute significantly to the public good. Billionaires shouldn't exist when basic societal needs are unmet. 

Photographer: Trent Nelson/Associated Press

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