Gumption And Bon Bons: Real Estate Billionaire Sam Zell Knows Lots Of Candy Store Owners Who Were Living Below The Poverty Line And Became 1 Percenters

Author:
Updated:
Original:

As you may have heard, a couple weeks back venture capitalist Tom Perkins wrote a letter to the editor in the Wall Street Journal warning that the persecution of the 1% today bears many "parallels" to "fascist Nazi Germany" and "its war on its one percent," i.e. the Jews. As is typically the case when one throws around the term "Kristallnacht" and suggests that attacks on Danielle Steele in the San Francisco Chronicle are not unlike attacks on Jews during WWII, Perkins took a lot of heat for his op-ed, with the company he founded which still bears his name (along with those of a few others) basically saying they've never heard of the guy.

What did billionaire Sam Zell think of Perkins's comments, BloombergTV's Betty Liu asked today? 1. That Perkins is right, and the 1% are being "pummeled" because it's "politically convenient." and 2. That while we're on the subject of the 1%, the people attacking them should instead being "emulating" them, because "the 1% work harder," which brings us to this delightful bit of dialogue:

Liu: But Sam, try telling that to the person who is on minimum wage, who is living below the poverty line, that they should try to emulate the 1%. How are they going to get there?
Zell: Oh, the stories are rampant of people who started with a candy store and took it from there. There are lots of people who have the ambition and have the motivation and have succeeded.

Zell: The 1% Work Harder and Should Be Emulated [BloombergTV]

Related