The Heroic 1%
Let’s cut to the chase to learn the real story about the “1%.” Please click this link, which will bring you to a web page that lists the major stockholders for “Oracle Corporation” a well known high tech software company.
You’ll see at the top of the list that Larry Joseph Ellison owns over 1 billion shares of Oracle’s stock. He’s the founder and CEO of Oracle and Forbes lists him as the fifth wealthiest person in the world with 43 billion dollars.
With today’s stock price for Oracle at just over $35 per share and Mr. Ellison owning over 1.1 billion shares, it’s an easy calculation to show that over 38.5 billion dollars of his 43 billion dollars is invested in Oracle Corporation! This represents 90% of his wealth, which is serving the rest of the world in the form of Oracle Corporation! Sure he could sell it, but if he does, $38.5 billion dollars has to come from other wealthy individuals, which will serve the rest of the world. It’s a sure bet that a good portion of the remaining 4.5 billion dollars of Mr. Ellison’s treasure is also invested in corporations, which day after day and year after year directly serve the remaining 99% of the population of America and the rest of the world! One can perform a similar exercise for other notable 1%’ers such as Bill Gates, Warren Buffet, Mark Zuckerberg and Larry Page, to name just a few, and the results will be the same.
Before any Leftists jump up and shout, “yeah, but these are all Obama supporters!” allow me so say, “Yes, I know. However irony does not trump reason.” While I’ll never question the business acumen of these great individuals, I’ll simply and respectfully say that their political choices are wrong.
It’s unfathomable, as well as tragic, that a President who seeks to “fundamentally transform the U.S.A,” into what all indications point to as being a Socialist state, would garner such support from the greatest Capitalists of our age.
This brings us to the need for a greater awareness of Capitalism, not only among the citizenry at large but ironically among its most astute practitioners. House Resolution 422, a bill submitted by the courageous Congressman Rohrabacher, was written for “expressing the sense of the House of Representatives regarding the superiority of Capitalism as an economic model.” It seeks to promote awareness of the political-economic system which, among its incomparable wealth building features, fosters personal integrity, diffuses knowledge, increases life-spans and spreads the rule of law.
It’s time to bring H.RES.422 to the House Floor for a vote. Not only do our Congressional leaders need a set of principles around which to rally, but our business leaders need help transitioning from the painfully confused to the heroic.
Michael Malgeri is the author of the “Johnny Profit” series of children’s books, which teaches young people about capitalism. He authored H.R.422, a Congressional Resolution that creates awareness of the superiority of Capitalism as an economic model. His website is www.Kids4Biz.com