Billionaire Blues: Is Public Approval Worth Just 12 Euros?

It wasn’t long ago that tech billionaires were figures of admiration across the political spectrum, some even reaching folk-hero status. However, now, disillusionment and criticism are directed at them and some of their creations. There are even instances like Australia banning social media use for children under 16.

This shift in public perception brings to mind the idea that some of the most resentful individuals currently may be those very wealthy billionaires.

We’ve witnessed similar sentiments before. Following the 2008 financial crisis, widely attributed to financial mismanagement, one might have expected contrition from the so-called “Masters of the Universe,” perhaps even gratitude for the bailouts. Instead, there was “Obama rage,” anger directed at the 44th president for suggesting Wall Street might bear some responsibility for the crisis.

Currently, there’s considerable discussion about the rightward political shift of some tech billionaires, exemplified by figures like Elon Musk. However, this might not be overly complex. It’s not necessarily attributable to politically correct liberals. At its core, it may stem from the pettiness of plutocrats accustomed to public acclaim, who are now realizing that immense wealth cannot guarantee affection or public approval, perhaps not even for the price of a simple 12 Euro meal.

Is there a path forward from this predicament? It’s plausible that while resentment can empower negative figures, it cannot sustain them indefinitely. Eventually, the public may recognize that politicians who criticize elites often embody elitism themselves and begin holding them accountable for unfulfilled promises. At that point, the public might be more receptive to voices that prioritize truth and avoid manipulative tactics, rather than relying on authority or empty promises.