write 35 paragraphs about why wealthy families share money l

write 3-5 paragraphs about why wealthy families share money; less wealthy share work/effort.

Solution

The wealthy family have the capital which they have accumulated over their last few generations. On the other hand, the less wealthy hae to gain some expertise in a field by putting in some effor or working hard to become successful in life. The wealthy families mostly tend to invest their money to several stakeholders of the society. This investment was only possible if they have the audacity to take risks. Investment is risky in the dynamic economical environment but due to their huge initial capital accumulated over their last few generations, the wealthy can afford to invest their money. Another prominent thing among the wealthy is philanthropy. This ensures they share their wealth to the needy or to some charities. Warren Buffet, Bill and Melinda Gates and many others do the same. This way, they gain the goodwill of the society. Also, in several developing countries, philanthropy would lead to the exemption from some taxes. Any economic society works due to capital as well as labour. The capital is provided by the wealthy families whereas the labour in the form of physical or intellectual work is provided by the less wealthy. This is the pathway to gain capital for the less wealthy and to climb the ladder to the higher echelon of the society.