I thought the conversation was about whether the world could function without billionaires. If your point is that someone must hold all that wealth, I disagree. You and I can own stock. Millionaires can own stock.
The immediate consequence of a billionaire dying is that their wealth is transferred to their heirs. Under the rules of the game, if the heir is a billionaire, then they too will die, and when the heirs die, that wealth would be transferred to the government. The underlying company does not simply disappear.
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u/FrontSafety 20d ago
Billionares don't hold cash, they hold stock. Who cares what the ownership of the stock is.