"If we want progress-real, sustainable, transformative progress-we need more billionaires. Not the ones who sit atop dynasties of inherited wealth. Not the extractors."
"For every $1 a tech founder earns, society gains $45. That billionaire's profit you resent? It may be the best bargain humanity gets."
The statement, "We should have more billionaires," by Garry Tan ignited controversy, highlighting differing views on success and innovation. The need for billionaires who are builders and risk-takers is emphasized, as they significantly contribute to societal wealth. Research by Nobel laureate William Nordhaus shows that innovators capture only 2.2% of the social surplus generated by their innovations, with 97.8% benefiting society. Furthermore, high earners contribute significant portions of federal income taxes, countering claims against wealth consolidation and illustrating the economic realities of billionaires' contributions.
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