Should Billionaires Still Exist in Today’s Economy?

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Transcript

00:00I want to talk specifically about billionaires and the ultra-rich because there's no doubt

00:06we live in very contradictory times as our debate this evening is evidence of. It doesn't just feel

00:16like the rich are getting richer, they actually are. An Oxfam report found that globally

00:21billionaire wealth grew by two trillion dollars in 2024 and that is particularly troubling to some

00:31people because during that same time according to the World Bank the people living in poverty

00:39that number barely moved. There are others some leading economists who have argued that billionaires

00:46are vital to the economy because they're innovators, they're employers and they've

00:52revolutionised our societies and improved the way we live. So there's two sides to this

00:58very lucrative coin here. So Charlie let me ask you and also in response to what Fiona was saying

01:04a little bit earlier in our debate, should billionaires exist?

01:09Of course. Yeah, of course it should, you know, yeah, undoubtedly. I mean, you know, again,

01:19a billionaire is not a terrible word. I mean, it's a wonderful thing if you are a billionaire

01:24and imagine how much you've put back into society by becoming a billionaire.

01:29So I'll be right back to you and I'm a billionaire and I'll see you soon.

01:46Let's see you soon.

01:50And I'll see you soon.