How to channel your rage against pointless billionaires
Indulging in some solutions while hating
I try not to think about billionaires and despite my best efforts, I know about Lex Luthor’s* wedding in Venice. Ugh but I love how they had to move their venue. Good. I don’t understand and don’t care to understand why they can’t just be wealthy in private but they’re so thirsty, you’d swear they’ve never seen a glass of water in their lives. Also, random fashion comment, she’s too short for that Schiaparelli dress.
Then I listened to President Trump’s ramblings today and double-ugh. Every time I hear/read about a billionaire’s yacht, space trip, tax dodge, wedding or attempt to connect with their fans by using US history wrong (you, Beyoncé), I feel very annoyed and helpless but mostly annoyed. It’s the kind of fury that sticks in your chest, because deep down, you know you’re not imagining things: the system is rigged.
Obviously I’m screaming into the void even if the void tells me it’s full, but I’m also trying to make myself feel better by being proactive. Or at least trying to. I refuse to let them give me high blood pressure but I’m going to indulge in some hating.
Know your enemy: It’s not us, it’s them
Let’s start with the facts: the richest 1% owns more wealth than 95% of humanity according to Oxfam. That’s most of us. Meanwhile, wages for the rest of us have stagnated for decades. In Canada and the US, buying a home is out of reach for people making the median income, let alone those of us who are single or without family money.
Understanding that this is a systemic problem, not a personal failure, frees us from the shame that keeps us stuck. It’s not solely that we’re bad at money, the game is designed to keep most of us on the losing side.
Break up with financial institutions if they don’t support your ideals
Many major institutions invest your deposits in industries that fuel inequality like fossil fuels, private prisons in the US and predatory lending.
Research local credit unions or ethical banks. Ask them about their lending policies and community investments. Moving your money might feel small, but collectively, it sends a message and it keeps your dollars out of industries you don’t support.
If it’s too complicated to move, which I understand, then you could move your investments into ESG (environmental, social, governance) funds. Speak to an advisor about whether something like this would align with your financial goals. We do have to survive in this environment.
Organize, join forces or support
Individual choices matter obviously, but collective action changes systems. If you’re a renter, join your local tenants’ association. If your workplace is unsafe or exploitative, talk to a union organizer. Support mutual aid groups and advocacy organizations fighting for affordable housing, fair wages, and social justice. If you don’t want to do that because you’re tired (I hear you), send an email, write a petition, donate if they buy for community fridges, vote, or support your friends.
Reclaim your spending power
I’ve said before we can’t budget our way out of systemic problems, but where we spend our money matters, especially in our own communities.
Where possible, shift some of your purchases to small businesses, shops owned by racialized and marginalized people, and cooperatives. Stop buying problematic celebrity brands. Yes, them.
Even one or two decisions a month like getting coffee from an independent café instead of a chain keeps money circulating locally instead of padding billionaire profits.
*The only thing they have in common is the bald head. Luthor was at least interesting when he was committing crimes (that green and purple warsuit, anyone?) and he was Superman’s nemesis, so that’s saying something.
This week’s readings:
Over half of Canadians kept financial challenges a secret: survey. (Investment Executive)
By me: Venture philanthropy-giving that’s more engaging that writing a cheque (Canadian Family Offices)
The US added a thousand new millionaires a day in 2024: Report (CNBC)
Why it pays to tell people your salary (Independent)
Trump says he’s ending ‘all discussions on trade with Canada’ effective immediately (CBC via Yahoo Canada)