How Much Of A Role Does Ethics Really Play In Financial Success?

[Prometheus]

I recently got a text on my cell phone from a friend of mine who is a millionaire and owns three properties and a consulting firm, asking me to pay him back $1.30 (one dollar and thirty cents) that I owed him from a week ago.

 

When I look at rich and financially successful people/companies in this world, I don't see shining stars of kind, moral, ethical, generous people/institutions, but rather ones that—besides occasionally being total assholes—bend for no one, are stingy with their money, and who simply do not really care about anything or anyone other than their own profits (like some nations...).

 

These companies often engage in unethical practices: illegally unloading money offshore; engaging in sweatshop hiring, exploiting cheap labor in inhumane conditions (Apple); unfairly treating employees; monopolizing markets and then exploiting customers (Comcast); demanding too much of employees in horrible working conditions (Amazon); or violating privacy in creepy ways (Google, Facebook).  Some examples: Jeff Bezos, Warren Buffett, David Koch, Donald Trump, Steve Jobs (if you read his biography).  The list goes on.

 

I daresay that it is literally IMPOSSIBLE for a person or company to become financially wealthy without at least a little bit of fibbing, manipulation, exploitation, and unethical behavior.  I don't think any financially wealthy person would disagree with me.

 

When money and financial wealth are the chief indicators of personal value and success, what is to put people and companies off from acting unethically—when that's the only way to get to the top?

 

For people who have strong inner motivations toward morality, honesty, and generosity, is financial wealth simply not in their cards?

 

Signed: An atheist,

P

[florduh]

Both ethical and unethical people can achieve success. Many wealthy people seem to be bereft of any empathy, compassion or even emotion, but I do personally know two wildly successful people who built some multi-million dollar enterprises from virtually nothing. They are astoundingly generous with their employees and give huge amounts of money to charities. Not every super wealthy person is an asshole who would worry about $1.30. I suspect the majority might be, though.

[Fweethawt]

I'd pay him back $2.60, tell him to kiss your ass and to have a nice life.

[florduh]

Ask him if he does PayPal.

[Vigile]

I'd pay him back $2.60, tell him to kiss your ass and to have a nice life.

 

From the sounds of him, he'd probably count this as a win.

[gall]

Both ethical and unethical people can achieve success. Many wealthy people seem to be bereft of any empathy, compassion or even emotion, but I do personally know two wildly successful people who built some multi-million dollar enterprises from virtually nothing. They are astoundingly generous with their employees and give huge amounts of money to charities. Not every super wealthy person is an asshole who would worry about $1.30. I suspect the majority might be, though.

 

most of the wealthy I know did not get that way stay that way or keep others from getting that way without being as cheap, frugal or stingy as they could be at every turn.

 

For the most part where I came from the wealthy were total asshats and delusional as hell about virtually everything around them, in a way that I have not seen anyplace else yet.

 

I tried to have as little to do with them as I could.

 

I would pay his stupid ass just to shut him up and stop talking to him.

 

I would in reality never have allowed him to loan me money for any reason. I would rather be in my own pocket empty as it may be than in the pocket of a rich dickhead.

[JadedAtheist]

I had a somewhat similar situation. A few years ago now i borrowed some money off a friend who was making about 3-4 times I was. I told him when I'd pay him back and he was apparently fine with it. Anyways, about a week before the date I gave him he started hassling me daily for the money. It got so bad I actually borrowed money off somebody else just so I could pay him off. Same friend, different occasion: we were out for dinner but just prior he jokingly said I should shout everyone for the food. Bill comes and he actually expected me to foot the bill - no joke. 

 

Anyway, I'm sure there are nice rich people out there, but I haven't met that many of them. Most of my experiences have been negative. I know a lot of people have hate for lawyers, but man you should get to know some doctors. For the longest time I thought people who became doctors did so because they actually cared about making people healthy. Boy was I wrong.

[Fernweh]

He probably figures he's doing you a big favor by not charging interest on the $1.30. 

[Vigile]

I had a somewhat similar situation. A few years ago now i borrowed some money off a friend who was making about 3-4 times I was. I told him when I'd pay him back and he was apparently fine with it. Anyways, about a week before the date I gave him he started hassling me daily for the money. It got so bad I actually borrowed money off somebody else just so I could pay him off. Same friend, different occasion: we were out for dinner but just prior he jokingly said I should shout everyone for the food. Bill comes and he actually expected me to foot the bill - no joke. 

 

Anyway, I'm sure there are nice rich people out there, but I haven't met that many of them. Most of my experiences have been negative. I know a lot of people have hate for lawyers, but man you should get to know some doctors. For the longest time I thought people who became doctors did so because they actually cared about making people healthy. Boy was I wrong.

 

There's a Russian joke about a Georgian dinner party.  They were drinking, eating and dancing running up a big bill in the restaurant.  Near the end of the evening, one of the Georgian guests pulled the waiter aside and said "when you bring the bill, everyone is going to be shouting 'Give it to me!  I'll pay!' and when they do, I'll be one of the loudest.  Here's $100.  Don't give ME the bill!" 

[LongWayAround]

I work in a profession where I routinely provide services to wealthy people.  Most of the wealthy people that I have worked with were very intelligent, ethical, admirable people.  The exceptions were typically attorneys, doctors, or politicians.  There were also good people among these groups but it seems like the majority are people that you do not want to be around.

[Vigile]

I work in a profession where I routinely provide services to wealthy people.  Most of the wealthy people that I have worked with were very intelligent, ethical, admirable people.  The exceptions were typically attorneys, doctors, or politicians.  There were also good people among these groups but it seems like the majority are people that you do not want to be around.

 

Yeah, personal experience is almost never a good way to measure a group.  I've worked with a lot of wealthy people in the past as well and know quite a few here in Russia who are and for the most part I've had really great experiences with them. 

 

I do think if you want to become a billionaire you have to screw over your fellow man in one way or another, whether it be by cornering a market or by using the government to your advantage or what have you.  But this isn't necessarily true amongst the millionaire crowd.