I do know how it works. I'm not talking about s/e trades and small shopkeepers here.
I'm guessing you don't want me to write a book
The loss making BHS went bust (it was on the point of collapse when Green gave it away). I'm pretty sure he was still hundreds of millions in front even after he agreed to pay £360m towards the black hole in the pension fund. Billionaires don't generally lose now when their businesses fail. Quite the opposite in some cases when they load up the business with debt and extract it in wages or divs.
Managed private equity also tends to operate this way. A company I once worked for was sold for £1 including a £50m dowry to maintain it as a going concern. It went bust a couple of years later. The PE investors didn't lose out. AFAIK they still had the £50m.
During austerity and COVID, real incomes for employees fell. Billionaires got richer.
I'm not envious, money doesn't matter to me now. I am angry for all those who despite their best efforts have to choose between eating and heating.
Tory MPs talk as if these people don't work hard enough or are bad money managers. I would suggest that is a minority. Raising a family and keeping a roof over their heads makes most of them very good money managers indeed. The median income is under £30k. I would guess half the households in Britain are struggling at the moment, with interest rate increases and energy cost. Food inflation is probably still in double figures.
Quite simply there should not be any billionaires while there is poverty.
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