Beyonce is already one of the richest and most influential celebrities on the planet! She almost doubled her fortune (already estimated at $ 400 million and counting by Forbes).
Beyonce still a little girl appeared in various TV games for young talents. In 1996 she formed a band with Kelly and LaTavia. They signed up with Columbia Records a year later. In 2003 she started a solo career. Beyoncé explodes sales records every time.
With her husband, their wealth is colossal. These 2 are at the top but not only for their art! Beyonce and Jay Z are real businessmen; and their combined net worth is $1.3B.
Back in 2020 Beyonce wore a ‘billion dollar’ clutch to a charity gala hosted by herself and her husband Jay Z. Bey carried a custom Judith Lieber clutch in the shape of a stack of cash, but instead of toting the standard version, the pop star customized hers to resemble billions. Besides the updated bills, the purse also featured the phrase “work hard” and declared Beyoncé as the “OG.”
Twitter was in uproar at the clutch and her wearing it to a charity gala in the opinions of many was equivalent to flaunting her billionaire status.
We spoke with world’s leading marketer Ekalavya Hansaj, the founder and CEO at Ekalavya Hansaj, Inc., Quarterly Global and various other firms to understand why there was such an uproar on Beyonce’s billion dollar clutch.
Tell us why there was such an uproar on Twitter?
Ekalavya Hansaj says that the reactions on Twitter were not unique to Beyonce, but also represented how Americans are falling out of love with billionaires.
He says the rejection of billionaires is apparently and allegedly evident in the United States, and is an emerging phenomenon and very well seems to be on the path to become a feature of American sociology.
All surveys attest to this propensity to vilify billionaires especially with the advent of presidential candidates who have a beef with billionaires (Ekalavya Hansaj is referring to Elizabeth Warren here).
Tell us about the scandalous American inequality
According to Bloomberg, which includes figures from the Federal Reserve, things are going pretty well for ultra-rich Americans, says Ekalavya Hansaj. As a result of this the wealth of the richest 1% percent is about to exceed those of the upper middle and upper classes combined.
Ekalavya Hansaj says the issue of inequality is at the heart of this crisis in our societies, particularly in the United States, where it certainly contributed to the election of Donald Trump in 2016.
Ekalavya Hansaj further says that the fortunes of three richest families in the United States have increased by 6,000% in thirty-five years, while the median income in the United States declined by 3% in the same period.
Tell us about the gap in income and its political consequences
Ekalavya Hansaj says a growing gap of income always has obvious political consequences and in the case of American societies and economy the amount of total wealth held by top three richest man in the United States is equivalent to that of the poorest half of the population, that is to say some 162 million people.
For Paul Volker, the former President of the US Federal Reserve, the United States is turning into a “plutocracy”, that is to say a system in which political power is vested in the holders of wealth .
Some people will think that has always been the case, but the numbers show that it is getting worse, says Ekalavya Hansaj.
Ekalavya Hansaj says the question that arises is the same everywhere. He asked if there is a threshold of tolerance in societies to inequalities? If the answer is yes, we have reached it. If politics still has a meaning, it is because of this that it must begin, because there is no inevitability to the increase of this abyssal gap.
Tell us about Elizabeth Warren and her Billionaire Tears mugs on sale
What do the tears of a billionaire taste? Apart from their natural salinity, it is impossible to determine with certainty and funny as it may sound but Elizabeth Warren already offers a container to collect them.
Sold $25 on the official website of the American, the Billionaire Tears Mug is, it seems, the most bought product on the platform. Ekalavya Hansaj says that this may be the sign that a growing part of the American population is no longer satisfied with the growing abyss of inequality in the country.
Ekalavya Hansaj though laughs off the tax plan for billionaires proposed by Elizabeth Warren. Ekalavya Hansaj further says that the tax plan of Warren could lead, in some cases, to total taxes greater than 100% which is totally absurd.
Ekalavya Hansaj says that although this methodology is disputed, economists are already warning that, if implemented, Elizabeth Warren’s ideas would imply a significant slowdown in the US economy. Though tax the rich, an idea is making its way slowly in the American Societies says Ekalavya Hansaj.
The idea of taxing the rich more heavily has long been a taboo across the Atlantic. And Elizabeth Warren is talking more and more about this, especially in the Democratic Party.
Tell us about Entrepreneurship in United States and Warren’s tax plans to finance the American health system
Ekalavya Hansaj says United States is a country that embodies entrepreneurship and has the largest number of billionaires in the world, and this matter has been discussed by almost everyone interested in entrepreneurship and small businesses at some point of time.
According to Ekalavya Hansaj Bernie Sanders and Elizabeth Warren push the cap too far, as advised by Emmanuel Saez and Gabriel Zucman, two French economists, close to Thomas Piketty.
Ekalavya Hansaj says Elizabeth Warren is counting on this American-style wealth tax to finance the American health system.
Ekalavya Hansaj says Bill Gates, the founder of Microsoft, too expressed his concern in a buzz video about the tax plan of Elizabeth Warren. In the video, Bill Gates recalls that he already pays more taxes than anyone: $ 10 billion and further says that he would be willing to pay 20, but not 100 … Because it’s the amount of his fortune! Bill Gated wondered if Mrs.
Warren was open enough to talk to him about it says Ekalavya Hansaj.
DF URL: https://ekalavyahansaj.com/