Just this morning I’ve seen that Twitter CEO Jack Dorsey is going to donate $1 billion to COVID-19 relief and that Dell founder Michael Dell is going to donate $100 million for the same cause. Hey, that’s great, but let’s assess a few things:
–If these two men can afford to donate that much, they’re not exactly digging into the bottoms of their pockets for this loot. Even if Dorsey is donating one-third of his net worth, and that’s incredibly generous (if you ignore the tax break he’s yielding from this), but he still has $2 billion more to get by on.
–Second, let’s look at the number of employees Twitter and Dell have, respectively, and then do a little long division. Twitter has roughly 5,000 employees. So, and I know this is overly simplistic, but if Dorsey had simply been putting that type of money into his employees’ pockets annually and not his own, he could give every single employee of his a $200,000 bonus. Imagine that. Imagine the type of work force, in terms of talent, you could assemble, if you treated your employees that well. Imagine how loyal they’d be.
As for Dell, he has far more employees and his contribution is one-tenth that of Dorsey’s, so his donation parceled out to each of them would only be $700 or so.
But here’s the larger point. The men at the very top of the food chain are stock-piling funds while scores of people who work for them are stuck in the middle class at best. And then something like this happens and they donate a huge chunk of cash and CNBC hails them as heroic. What I’d like to know is how come they weren’t paying their employees better and stimulating the economy the entire time as opposed to sitting on top of a mountain of cash?
True, Dorsey and Dell created businesses, created thousands of jobs, and for that they deserve credit. I’m just wondering what possesses men to be THAT rich when so many people working for them are still involved in class struggle. I hereby promise that when MH Industries is a a major conglomerate that we’ll pay executive assistant Susie B. at least $200,000 per year and even throw in free MH merchandise.