Should billionaires learn to spend on so...

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Jessy Chandra

| Updated on March 17, 2019 | News-Current-Topics

Should billionaires learn to spend on social causes than on weddings from Wipro chairman Azim Premji?

1 Answers
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Mayank Gupta

@mayankgupta5585 | Posted on March 17, 2019

Azim Prem is not doubt one of the fewest nd biggest philanthropists in India. Spending your die hard earned money on someone else is not a thing that most of the people do (just a normal human psychology). Why would you spend on someone you don't know (in the era where money is the power)?

Indian weddings are known worldwide to be the most exaggerated and pompous. We, Indians spend our whole lifetime savings in the marriages of the children. But when you talk about billionaires like Ambani who just spent 0.5% of his worth on his children's marriage which amount to 700 crores. In that amount he could have changed the condition of many of the rural areas, he could have electrified so many villages and could have built hundreds of hospitals, schools and institute. To be more factual, 700 crore was needed to revive the Kerala from the entire disaster. He could have saved the millions of lives with this amount. But he did not do that( spending crore on yourself is easy than spending a rupee on other). That's is the reason Ambani is known as businessman where as TaTas are called as Industrialist because former focuses on his wealth accumulation, while improving the lives of the other is the aim of the latter.

So the answer to your question is absolutely yes. These billionaires should spend more on social causes but most of them won't do because they latently donot want to remove disparity and want money power. Although there is a legal framework for the companies to fulfill CSR activities but in reality very few such projects get completed. But there is no such legal framework for the individuals who earn earn billions of dollars to spend a little for social cause. So it's a proper voluntarily action by an individual.

In short who wants to bring change in the lives of the other spend on them while others just spend on their luxury and comforts. But the latter should learn to spend on social causes.
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