Well i would assume they go into food regulations in the hopes of helping pass better food regulations so we don’t all die from Mad Cow or something. Clearly if they owned a restaurant and then go into FOOD REGULATIONS they have a passion for food in some form or another. The fact that they are going into a job that pays an ass load less usually indicates they aren’t in it for the money and instead love their work. I’m not really following your logic either.
Bottom line is the Rich work but not in the sense that you might have of it. It’s mostly hours spent gathering more knowledge(because they are in a postition to do so) and then acting on that knowledge with clarity and precision because not matter what you have, it always hurts to lose, and these people are constantly fighting to put themselves in a position where their money works for itself. Building a dynasty so to speak. THAT IS THE TRUE AMERICAN DREAM…
Why does it have to be proving to others that they can do things? I continue to work just to prove to myself that I can succeed. I don’t think that is insecure at all, I just like being challenged. Plus I enjoy my work.
I think it’s what you said earlier, just social status climbing. I also think a big part of it has to do with entitlement to direct other people since they are so successful much like how celebrities seem to come out as “experts” on their own respective causes. You can imagine that these people might have a twinge of guilt or perhaps narcissim that they don’t deserve all this money and luck and decide to use their wealth or more importantly their success in accumulating wealth to help other people. I can understand that because there is a drive not to be the best, but to be recognized and as you enter a new social rung, getting up higher a bit more just feeds into being better than the rest of the people in your circle.
As for the generalized question of the topic as is: rich people work much like how any other small business owner might work at the same shop for 20+ years. It’s their career and somehow they find it fullfilling.
OC
So…because you own a multi-million dollar company means you don’t work?
How do you figure?
Except what he ends up doing is de-regulating and bailing out the restaurant since he knows his food is toxic.
The example I gave in this thread involves the treasury secretary of the US. He was CEO of Goldmansachs. He had about $700million worth of shares with them. In order to not pay hundreds of millions in capital gains tax, he needed a job (treasury secretary) that legally “forced” him to sell his shares or setup a blind trust, in order to avoid a “conflict of interest”. By taking that job his shares had to be sold and in return became tax-free. The job also gave him a power position that allowed him to arrange a bailout for Goldmansachs and AIG when they inevitably failed…it’s most likely that his money was in a blind trust with goldman, so if they went under, his shares would be worth nothing.
In his case, the incentive is clear. Rich wall street guy takes a low-paying high-powered federal job in order to protect his assets and his buddies.
The problem goes like this. If you are good and just believe in making food regulations better, then the move makes sense, the money is irrelevant. Ok, fine.
But if you are greedy and corrupt, then money is your motivator. But after making 500million what difference does it make if you make another 20, 30, or even 100? In terms of what you can buy and your lifestyle, it really doesn’t do anything.
Actually I don’t understand the guy who works a stressful job owning 5 restaurants unless he does it for money. If he won 600 million why would he continue to work? Why not just delegate it to some competent managers? It doesn’t make sense to continue working after that point, the cost is much higher than the benefit.
Obviously if he is just a “millionaire” he probably still has to work to make a living. Being a millionaire isn’t the same thing as having 600mill in the bank.
But it does seem that some people are workaholics in an irrational way, either due to social pressure or they just dont know what else to do, lack of imagination perhaps? Or they dont understand diminishing returns.
I guess I see value in certain types of work, where the person is allowed to be creative and expressive or scientific/engineering. But I dont see inherent value in managerial, accounting, marketing and finance jobs. There are some types of work you do “for the money” and once you have a shit-ton of money, it confuses me why people still bother with those shitty jobs lol
People that have never been around millionaires might not be able to grasp that? There is a big difference from being Joe Shmoo that won the lotto and the Earl of Rhyme that earned every dime.
What can you do with 500million for fun that you can’t do with 50million?
Is it really that much better?
Besides goofing off by buying huge islands or manipulating the currencies of small countries for fun, what is the big deal?
It boggles my mind that some of these guys actually enjoy their tedious jobs and continue working after such obscene points. It seems like they stress themselves unnecessarily.
Well…why exactly would you “hear about” some reclusive millionaire unless they start doing something?
I mean, people like extremes…that’s why the idea of somebody trying to make their millions into billions or being some international bigshot is entertaining. Look at Donald Trump, surely he has enough to provide for his loved ones…but that’s not the same as being a household name and having a catch phrase.
Some 30 something who has taken early retirement from his dot com enterprise with a cool couple million isn’t going to be leading the lavish life of excess that would make for good reality tv programming.
Greed + powertrip/ego + a surprisingly large amount of rich people are a bunch of bores with no souls who have no idea how to enjoy themselves and therefore need to keep occupied in order for their life to feel interesting and meaningful.
Once people have all the money and time in the world, they often realize too late how empty and shallow they are, so they need to keep busy in order to forget how much they hate their vapid existence.
Answer is really not so complicated that it needed this many words.
Most rich people are simply not creative enough to enjoy their money. We need more creative ideas for millionaires, take Lewis Black…
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The money in many times is an added bonus. Have you ever met an old person who did not do jack shit for a long time. No. People need work. Sure you can have a ton of money, but not doing anything gets bored really quick. Working to them is a way to keep busy and feel challenged. I mean, why else would one go from millions to thousands in a career.
Well concerning restaurants, they are such a volatile industry that sometimes you really really have to be involved, especially if your name is attatched to it. Restaurants seems to be far more reliant on leadership and strong competent management not because you often have a bunch of idiots working under you, but because it’s so close to a service that requires immediate service for such a necessity; it’s very easy for shit to hit the fan. Just hiring competent people sometimes isn’t enough especially if they aren’t part of your vision or capable of handling the situation like the owner can. Regarding restaurants, yes you can make money but as seen many times before, entire restaurant empires fuck up because one fails miserably. So much that even the first successful one has to be used to pay off the debts of the others. So really it does go a bit back to ego, social standing and some sort of need to have more power.
OC
You ppl talk about money like it is this stable thing in itself. Whenever you get into that higher income bracket you realize that 300 million ond day can be half that the next just from you doing nothing, and that is putting it as simple as possible. Not everyone just had money magically given to them, which means the even if they are worth that much on paper someone else still is invest it them and visa versa. Why do they spend it on silly shit, why to actually get away from the actual MANAGEMENT of their own assets. You guys can’t even balance a check book and want to talk shit about people that spend more on yearly yacht maintenance than you earn in a decade.
Some people continue to work and gain more financially to pass onto their children when they pass. I know I wouldn’t want to risk spending all of my money just because I was feeling lazy.
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Let’s be honest here…
Status
Yeah I think it has to do with the power they hold in their positions.
It’s not about the money.
could it be that a lot of these people enjoy their jobs:looney:
nope
because what makes people rich is that power ranger power up you get when your mind/body/soul adapts to a successful way of life. try practicing wing chun trapping for a good example