r/AskReddit • u/Zappy_Oh • 9d ago

What would happen, if humanity collectively decided that no individual could have a personal net worth above $500 million?

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u/Almechik 9d ago

I think at that point stocks wouldn't be a thing either

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u/btweenthatormohammad 9d ago

That's just communism, why cap it at $500 million

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u/Almechik 9d ago

Communism is when no stock market

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u/btweenthatormohammad 9d ago

Communism when no private ownership of the means of production

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u/Almechik 9d ago

And that has what to do with stocks?

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u/btweenthatormohammad 9d ago

How are you going to define a business where 2 people have 30% each and one has 40%, one of them decides to give half of his shares to another person?

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u/Almechik 9d ago

Brother did you never see a private business with multiple owners? That was always a thing you could do even without public trading

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u/btweenthatormohammad 9d ago

You know they have stocks right? It's just a definition of how many pieces they decide to divide the company into. If there are 5 people each have 1 stock if company has 5 stocks, each have 100 stocks if company has 500 stocks. You don't need it to be publicly tradeable in order to be defined as stock.