Affluence

Is it morally wrong to be “filthy rich”? Researchers at the University of Southern California and the University of Massachusetts Amherst examined how people across 20 countries judge excessive wealth. People in wealthier, more equal societies are actually more likely to view having too much money as morally wrong compared to those living in poorer, more unequal countries.

The research involved over 4,300 participants from nations as diverse as Belgium, Nigeria, Switzerland, and Peru. While you might expect people in struggling economies to resent the ultra-rich more, the opposite appears to be true.

The study found that people do not find excessive wealth very immoral across all countries. But more equal and wealthy societies like Belgium and Switzerland consider having too much money more wrong than less equal societies.

This suggests that when basic needs are met and inequality is lower, people become more sensitive to the potential harm caused by concentrated extreme wealth. Meanwhile, in developing nations where billionaires might represent hope for economic advancement, excessive wealth is viewed more favorably.

The researchers reference a 2023 statement by Elon Musk, currently the world’s richest person, who said it’s morally wrong to use the word “billionaire” as an insult if the individual uses their wealth to create products making millions of people happy. This perspective aligns with Western thinking that prioritizes happiness maximization as a moral good.

The luxury of moral criticism of excess may be more affordable for wealthier communities. Meanwhile, in developing nations, billionaires might represent aspiration rather than moral failure.

Possible Preaching Angle: Money; Money, love of; Wealth – The Bible does not condemn wealth, as such, since Abraham, Job, and Solomon, among others, were very wealthy individuals. The Bible does warn about the love of money (1 Tim. 6:10), the oppression of the poor, and making money ones security (Matt. 6:19)

Fine dining typically means splurging a little for high-quality meat or fresh seafood. But what if money were truly no object?

Restaurant owners and chefs around the world create original dining experiences for those who want unique experiences. You know, like spending nearly $10,000 on a pizza or $1,000 on an ice cream sundae.

Here are a few of the world’s most expensive meals:

• Masa — New York. Dinner Omakase menu per person: $750 sushi-eating experience.

• SubliMotion —Dubai. Dinner per person: around $2,000. That’s more than the average family will spend for an entire month on food.

• De Daltons – The Netherlands. The Golden Boy Burger: $5,532.79. Chef Robbert Jan de Veen’s “The Golden Boy” is made with 100% Wagyu A5 meat, as well as Beluga caviar, king crab, Spanish Paleta Ibérico, white truffle, and English cheddar.

• Renato Viola — Salerno, Italy. Louis XIII Pizza: $9,184.32. Pizza toppings include: mozzarella di bufala, lobster, and caviar all flown in from all different parts of the world.

• The Fortress Resort and Spa — Sri Lanka. The Fortress Stilt Fisherman Indulgence Dessert: $14,500. The dessert features Italian cassata flavored with Irish cream with a pomegranate and mango compote. The base is adorned with an 80-carat aquamarine stone.

Possible Preaching Angles:

(1) Salvation and The Lord's Supper—They're both offered free of charge (although Jesus paid the price that we could never have paid), and the Lord's Supper is better than anything on this list. (2) Social Justice—While millions of people are malnourished, a few people can afford outrageously expensive, luxurious meals. (3) Simplicity; Provision—God promised to provide daily bread, not daily slice of "Louis XIII" pizza. (4) Hospitality—Hospitality is more about love and openness than about trying to offer a "world's best meal." Encourage people to keep it simple.

Palmer Luckey, is a billionaire tech entrepreneur who founded Oculus and parlayed that fortune into a career as a Silicon Valley defense contractor. Luckey collects cars and he needed a place to store them. According to Forbes, when his classic car collection had outgrown his $12.5 million oceanfront mansion in Newport Beach, California, the solution was obvious: Buy the $3.8 million house across the road, demolish it, and build an elaborate 7,000 square foot building with four car elevators.

The project went smoothly — until Luckey got trapped in his own car elevator for 10 minutes. That’s according to a new lawsuit Luckey took out against the contractor responsible for building the elevator.

According to the lawsuit, this has happened more than once and led to millions of dollars in damages. Custom Cabs and construction company WT Durant, who are the defendants in the case, have denied Luckey’s allegations. Custom Cabs told Forbes that it had filed a motion to strike the lawsuit’s claims. WT Durant said it had worked with Luckey several times before this incident and that he’d never before had an issue.

Possible Preaching Angle:

Wealthy people are often tempted to spend their money indulging in luxuries and extravagant items. On the other hand, the poor are struggling more and more. They experience severe challenges like hunger, lack of housing, and inequality. This situation highlights the growing divide between the rich and the poor which is a significant issue in our society. God’s people are called to be generous and share the blessings God has given to them (Luke 6:38; 1 John 3:17)

On Sept. 29, 1916, newspapers across the country announced a wealth milestone once thought to be unreachable: the world’s first billionaire. “Standard (Oil) at $2,014 makes its head a billionaire,” blared The New York Times headline, adding that Standard Oil’s soaring share price “makes John D. Rockefeller, founder and largest shareholder, almost certainly a billionaire.”

Now more than a century after the first U.S. billionaire, the question of who will be first to reach the trillionaire mark continues to fascinate. According to a new report from Informa Connect Academy, Tesla CEO Elon Musk will likely be the first trillionaire sometime in 2027, assuming that his wealth continues to grow at an annual average rate of 110%.

The second person projected to reach trillionaire status will be India’s Gautam Adani, founder of the Adani Group conglomerate, in 2028. Jensen Huang, CEO of Nvidia, who has seen his wealth skyrocket from $3 billion to more than $90 billion in five years, would become a trillionaire by 2028. Fourth on the list is Indonesia’s Prajogo Pangestu, founder of the Indonesian energy and mining conglomerate Barito Pacific, who could reach trillionaire status by 2028.

Tied for fifth would be LVMH CEO Bernard Arnault and Meta CEO Mark Zuckerberg who are forecast to become trillionaires sometime in 2030. Some top billionaires who seem like strong candidates to quickly reach the four-comma club don’t make the top 10. Jeff Bezos, the Amazon founder, and Larry Page and Sergey Brin, the Google founders, are all slated to wait 12 years to become trillionaires.

So, more than 100 years after the first billionaire, the first trillionaire could well be crowned in the next decade.

Possible Preaching Angle:

The Bible does not condemn wealth, as such, since Abraham, Job, and Solomon, among others, were very wealthy individuals. What the Bible does warn about is the love of money being the root of all kinds of evil (1 Tim. 6:10), the oppression of the poor by the rich (Jam. 5:1-6), and placing faith in the earthly “security” of wealth, rather than in God (Prov. 18:10-11, Matt. 6:19-21). The warnings are intended to encourage a balanced approach to wealth and possessions, recognizing that true fulfillment comes from a relationship with God and serving others.

Maybe money does buy happiness, after all—especially if you can afford more of it than your pals.

That’s according to the findings of a recent working paper distributed by the National Bureau of Economic Research. The paper used a survey of Dutch households to determine whether believing you’re in better financial standing than your peers can impact your beliefs and behavior.

The most striking finding? Believing you earn more than your peers—whom researchers defined as people of similar age, education, and marital and homeownership status—actually makes you happier.

That impact was evident regardless of actual income, researchers said. In other words, it didn’t matter how much money respondents actually made, only how it compared with others’ earnings. One of the lead authors of the study said, “When you realize your [relative] position is good, then you’re more happy, It’s not about the absolute number.”

It would surprise many Americans, regardless of their race, to know that 2.5 million American Black men are in the financial upper class, according to an exhaustive report produced by the Institute for Family Studies (IFS):

Our new report, Black Men Making It in America, finds that despite the burdens they face—from residential segregation to workplace discrimination to over incarceration—more than one-half of Black men have made it into the middle or upper class as adults. This means that millions of Black men are flourishing financially in America. We find that slightly more than one-in-five (or about 2.5 million) Black men ages 18 to 64 have made it into the upper-third of the income distribution.

In fact, Black men have made marked progress over the last half-century in reaching the upper ranks of the income ladder. The share of Black men who are in the upper-income bracket rose from 13% in 1960 to 23% in 2016. Moreover, poverty among Black men has dropped dramatically over the same time, with the share of Black men in poverty falling from 41% to 18% since 1960. A majority of upper-income Black men in their fifties today were from low-income homes. Half grew up in one-parent families. How did they succeed?

We identified three major factors that are linked to the financial success of Black men in midlife today: education, work, and marriage. Black men who have a college degree, a full-time job, or a spouse are much more likely than their peers to end up in the upper-income bracket as fifty-something men. Included in this group are Black men who attended church regularly as young adults or served in the military. Having a sense of "personal agency" and believing they are responsible for their lives were also major indicators of success.

When the media only focuses on the negative, rather than revealing the facts and stories of accomplishments and prosperity, real harm is done. "First, it renders millions of successful Black men, and the paths they have taken to the American Dream, invisible. Second, it can lead to a sense of hopelessness for young Black men. With so much talk of 'Black failure' today, Black boys may start to feel 'why even bother when the odds are stacked against you?'”

An article in The Wall Street Journal warns: “Your 401(k) is up. Don’t let it go to your head.”

Checking your 401(k) is the feel-good move of the year. After the stock-market rally, it now feels safe to peek at your 401(k) balance again. That is a relief for the millions of people whose retirement accounts are still recovering from the bruising they took in 2022, when the S&P 500’s total return was -18.11%.

Don’t let your self-worth balloon along with your net worth, financial advisers warn. They say the overconfidence that comes with making big gains can cause people to take bigger risks with their investments. And that makes us feel like we’re savvier investors than we really are.

Neuroscience backs up the idea of overconfidence being a problem. Research on the brain has found that increases in dopamine, a brain chemical that likely gets released when you see large returns in your account, can lead to more financial risk-taking.

Possible Preaching Angle:

That’s good financial advice, but the Bible also warns that, more importantly, it’s good spiritual advice.

An Oregon man recently threw $200,000 in cash onto a local highway until police asked him to stop due to the risk to pedestrians endangering themselves to collect his show of generosity. People magazine reports: “The Eugene [Oregon] man told responding officers that he was ‘doing well and wanted to bless others with gifts of money.’”

But there was a catch. The money he used to “bless” others came from a shared bank account with other family members. He gave away what didn’t belong solely to him. The man’s family is asking motorists to return the cash to the police and their family.

Possible Preaching Angles:

In contrast to this man, we who have experienced the riches of the grace of God, actually have an invitation to share this grace with others (Matt. 10:8; Rev. 22:17) to help and encourage them.

About seven in ten respondents in a survey said they strongly or somewhat agreed with the statement: “Having more money would solve most of my problems.” Similar proportions of people in each income bracket felt that way, including those with salaries of $200,000 or more.

Exactly how much more money do we think we need to be happy? A survey from the financial-services company Empower put the question to about 2,000 people.

In the survey, most people said it would take a pretty significant pay bump to deliver contentment. The respondents, who had a median salary of $65,000 a year, said a median of $95,000 would make them happy and less stressed. The highest earners, with a median income of $250,000, gave a median response of $350,000.

Even very wealthy people think like this. A 2018 study asked millionaires to rate their happiness on a scale from one to ten and, if they didn’t say ten, predict how much money they would need to move one point higher. Slightly over half of those with a net worth of $10 million or more said their wealth would need to increase by at least 50%.

In his article “How America Got Mean,” David Brooks laments what he calls “the de-moralization of American culture.” Brooks notes that “over the course of the 20th century, words relating to morality appeared less and less frequently in the nation’s books:

According to a 2012 paper, usage of a cluster of words related to being virtuous also declined significantly. Among them were bravery (which dropped by 65 percent), gratitude (58 percent), and humbleness (55 percent). For decades, researchers have asked incoming college students about their goals in life. In 1967, about 85 percent said they were strongly motivated to develop “a meaningful philosophy of life”; by 2000, only 42 percent said that. Being financially well off became the leading life goal; by 2015, 82 percent of students said wealth was their aim.

Pets these days are living more luxurious lives than ever as humans increasingly pour money into making their properties fetching for nonhuman family members. For instance, Robbie Timmers went all-out adding a contemporary-style house on his property in Thailand. White with chic black trim, the two-story, air-conditioned abode has security cameras, smart lighting, and a sliding door to the porch. Mr. Timmers would have added a swimming pool, too, but his wife objected. Her reasoning? It seemed unnecessary for the home’s intended occupants: the couple’s five dogs.

Mr. Timmers love his dogs’ house, but he adds, “I have to be honest, my dogs never set foot in the house,” says Mr. Timmers, who spent about $10,000 on it. The mini-house mostly sits empty. “It has everything,” he adds. “Just no dogs.”

Then there’s Doug the Pug, a lovable pooch whose penchant for wearing elaborate costumes has earned him over one billion viewers across social-media platforms. At the Nashville, Tennessee home Doug shares with his owners, the pug has his own 15-foot closet for his outfits, including tiny cowboy hats, cashmere sweaters, a rainbow of sunglasses, custom harnesses from London, and a Boda Skins leather jacket.

Among other perks, Doug also only drinks purified water at home and routinely sees a canine herbalist and acupuncturist.

Possible Preaching Angles:

This is extreme, but are we excessively spending on the things that don’t ultimately matter?

Writing for The Atlantic, Michael Mechanic parsed the findings of the most recent study on the perennial “Does Money Buy Happiness?” question. Recent polling from The Wall Street Journal and the University of Chicago points to a steep decline over the past quarter century in the percentage of American adults who view patriotism, religion, parenting, and community involvement as “very important.” The only priority tested whose perceived importance grew during that period was money.

Researchers definitively found, [in their original 2010 study], that the quadrupling of a person’s income had an effect on well-being roughly equal to the mood boost of a weekend “and less than a third as large as the [negative] effect of a headache.”

The authors also explain that “the difference between the medians of happiness at household incomes of $15,000 and $250,000 is about five points on a 100-point scale.” That’s “almost nothing,” one researcher said. With such a small difference, in fact, one could argue that “there is no practical effect of income at all!”

Possible Preaching Angle:

The origin of the proverb “money can’t buy happiness” has its origins as far back as 1750 in the writings of Rousseau. But even so, people still think that it can.

When Disney CEO Bob Chapek was fired and replaced by his predecessor Bob Iger, many of Disney’s most vocal fans rejoiced. One of them is Len Testa, a computer scientist who once did a master’s thesis using math to optimize his ability to see as many Disney theme park rides as possible.

Testa wrote a column in the NY Times about why he felt Chapek was unfit for his previous leadership position. In the column, Testa claimed that Chapek violated the spirit of founder Walt Disney, his penchant for hospitality, and his appreciation of childlike wonder.

In his August 2022 earnings call, Mr. Chapek reported that Disney’s theme park, experiences, and products division had generated $7.4 billion in revenue in the third quarter, up 72 percent from the same time a year prior. He could have acknowledged Disney’s theme park guests for the stunning results.

Instead, a news release suggested that earnings would have been greater but for an “unfavorable attendance mix” at Disneyland. The company was essentially saying that too many annual passholders were visiting from nearby instead of out-of-towners, who stay at Disney hotels and eat at Disney restaurants more often. Some fans responded by creating T-shirts emblazoned with the phrase “Unfavorable attendance mix” and wearing them in the parks as in-jokes to other fans.

Testa says that fans interpret a recent uptick in extra theme park fees and surcharges as a lack of appreciation for generations of fans whose loyalty helped to build Disney into the corporate behemoth it is today. Furthermore, he says that influencers and freelance writers have made a cottage industry out of providing tips for people going through the process of booking a Disney trip because of how byzantine, confusing, and expensive it has become.

Testa ends his piece by suggesting that if Mr. Iger wants to experience the park from the perspective of one of the fans, he should try navigating Disney’s reservation system to book a theme park stay on a middle-class salary. Testa said, “When he’s overwhelmed by the cost and complexity, I know many fans who’d be happy to talk him through it. No charge.”

The first Thanksgiving tells of survival against imponderably difficult odds and the celebration of Native Americans and English settlers alike around a common table. With delicious food before them, they thanked God for being alive to enjoy all of God's good gifts.

Thanksgiving has always struck (many) as a profoundly religious observance. Therefore, (they are) dismayed at the backward encroachment of Black Friday—the busiest shopping day of the year—into Thanksgiving Day itself.

Stores have been opening early—say, at 6 a.m.—on the day after Thanksgiving for years. But extremely early openings (4 a.m. or 5 a.m.) have gradually become more common. Target, Best Buy, Macy's, and others caused a stir in 2011 by opening at midnight. Wal-Mart went further the next year and opened in the evening on Thanksgiving Day. (Now) nearly a dozen stores—including Macy's, Target, Best Buy, and Kohl's—will be open at least as early as that … meeting our perceived need to be able to buy what we want when we want it … and at huge discounts.

Our national holidays gradually erode with every wave of unending commerce. It's a regrettable move that suggests what we value most is not family, religion, history, or even the cherished notion that God has blessed America. Instead, for us there is no day so sacred that it would keep us from standing in long lines to get a flat-screen TV.

It is significant that President Abraham Lincoln established a regular date for a nationally observed day of Thanksgiving while the Civil War was still raging. ... In his Proclamation of Thanksgiving, Lincoln urged people to consider that even amid the ravages of war, God had blessed America with "fruitful fields and healthful skies," and that, even in the nation's suffering, God had "nevertheless remembered mercy."

(Now) he might regard the stories of the shrieking mobs surging in a blind rush for holiday bargains and trampling a Wal-Mart employee to death in the process as falling somewhat short of both American and religious ideals. ... Nor does it sound like something that our God—who commanded his people to give even their servants and animals rest on the seventh day—smiles upon.

Tech companies often make public statements in favor of affordable housing in the context of public acts of philanthropy. But the sincerity of these pronouncements can be tested by examining responses from the same executives confronted with actual affordable housing developments in their neighborhoods. And right now, many of them are failing this simple test.

Top executives at Netflix, Apple, Google, Facebook parent-company Meta, and others, have publicly opposed a recent housing development plan in Atherton, California, a wealthy Silicon Valley enclave just north of Stanford University. It’s a trend that housing analysts call NIMBYism, which stands for “Not In My Back Yard.”

Jeremy Levine, of the Housing Leadership Council of San Mateo County said, “Atherton talks about multifamily housing as if it was a Martian invasion or something.” Atherton, like many wealthy towns its size, is zoned almost exclusively for single-family dwellings. But the meteoric rise in tech-related jobs has put the state of California on an unsustainable housing trajectory. Simply put, there are far too many people with too few affordable places to live.

To ameliorate this issue, the state of California requires cities to submit housing plans that account for the projected growth in their communities. In Atherton, that meant carving out a zoning exception for several multifamily townhouse sites. Almost immediately, many town residents saw this potential development as a threat to their way of life. One resident said that having more than one residence on a single acre of land would “MASSIVELY decrease our home values, the quality of life of ourselves and our neighbors, and IMMENSELY increase the noise pollution and traffic.”

Atherton mayor Rick DeGolia is sympathetic and said, “Everybody who buys into Atherton spent a huge amount of money to get in.” Urban Planner Ralph Robinson was blunter saying, “People are less sympathetic.”

Possible Preaching Angle:

In contrast to this attitude, the family of God is to be open to everyone, and not exclusively reserved for a wealthy few.

Many Americans struggle with clutter. This is one reason for the popularity of the simplicity movement. And it’s why books like Marie Kondo’s, The Life-Changing Magic of Tidying Up, become popular bestsellers.

Researchers from UCLA visited the homes of 32 typical American families. They wanted to look at how people interacted with their environments, at how they used space. They went through each room, closet, and shelf in the home and systematically documented the stuff people own.

Researcher Jeanne Arnold said, “Contemporary US households have more possessions per household than any society in global history.” Her colleague Anthony Graesch notes that our homes reflect this material abundance. “Hyper-consumerism is evident in many spaces, like garages, corners of home offices, and even sometimes in the corners of living rooms and bedrooms.”

The researchers continued, “We have lots of stuff. We have many (ways in) which we accumulate possessions in our home, but we have few processes for getting rid of them … The United States has 3.1% of the world’s children but consumes 40% of the world’s toys.” Children’s toys and objects spill out of their bedrooms into living areas, kitchens, and bathrooms. The push to become consumers, to value stuff, starts at an early age.

Why do modern kids have so many toys? It may be because there are so many playthings available, so cheaply. There’s more stuff available for kids than there was fifty years ago, and that stuff costs less. Plus, priorities seem to have shifted. Modern parents see spending on kids as a priority; parents fifty years ago did not.

You can watch the video here.

Possible Preaching Angle:

Is clutter a uniquely American problem? Probably not. But because of our sheer material abundance, more of us struggle with clutter than folks in other countries. But this is an area in which we can take charge of our lives. As we purge stuff from our lives, and take control of our spending, we can gain a sense of satisfaction and self-control.

The rich talk a good game but often don’t live up to their convictions. Many affluent Americans whose politics are on the liberal left are being exposed as hypocrites in regards to housing, taxation, and education. The New York Times, which in many cases is the flag-bearer for the left, is displaying integrity and courage in criticizing and exposing their own.

Just one example given is the San Francisco area adding 676,000 jobs in the last eight years but only having 176,000 housing units. The City Council attempted to re-zone a certain area to allow for the construction of a 60-unit affordable housing complex. The overwhelmingly liberal residents of Palo Alto voted to repeal the decision, eventually resulting in the construction of a few $5 million single-family homes.

The New York Times lead writer on business and economics, Binyamin Appelbaum, comments:

I think people aren’t living their values. You go to these meetings in these neighborhoods where they’re talking about a new housing project, and it’s always the same song. And it goes like this. “I am very in favor of affordable housing. We need more of it in this community. However, I have some concerns about this project. We have the hearts to do this. But we’re doing it wrong. And we’re dictating harm onto the neighborhoods.”

And then off we go with the concerns. And then nothing ever gets built. This is happening all over California. And the result is that these neighborhoods are so expensive that they keep anyone out who isn’t a part of this small group of superrich residents, many of whom bought their properties decades ago and who spend their time fighting vigorously to keep the value of their real estate assets superhigh.

You can watch the video here.

John de Graaf and his co-authors report in their book, Affluenza: The All-Consuming Epidemic, that four million pounds of raw material, such as mined metals and oil, are necessary to provide for one average American family’s annual consumption. Americans spend more on trash bags in a year than 90 of the world’s 210 countries spend for everything.

Consumption is a major component of the gross domestic product. So, it seems undeniable that Americans, including Christians, will eventually have to learn to live with less. We will have to treat our gifts from God—whether natural resources or material well-being—with reverence rather than abandon.

When US District Court judge Sara Ellis sentenced Stuart Nitzkin to more than three years in prison, she noted that the case essentially boiled down to a man beset by greed, trying to live a life he couldn’t afford.

Nitzkin, 45, pleaded guilty to one count of wire fraud stemming from his financial mismanagement of American Friends of the Israel Sport Center for the Disabled, where he served as executive director. Despite earning an annual salary of $150,000 for his duties as a networking fundraiser, Nitzkin stole more than $800,000 from the organization over a five-year period, and used it to purchase lavish goods, services, and experiences.

Assistant US Attorney Sheri Mecklenburg wrote, “The money raised by the charity paid not just for sporting events for the children, but also for wheelchairs, therapeutic pools and other rehabilitative equipment. Nitzkin repeatedly has said that he would ‘never hurt the kids,’ but that is exactly what he did.”

Mecklenburg went on to contrast the fortunes of the charity and Nitzkin. While it was struggling he was thriving, with real estate in four different states and a net worth of millions.

As part of his sentencing, Nitzkin was ordered to pay $516,000 in restitution.

Possible Preaching Angle:

Those who misuse money entrusted to them violate God's desire for integrity. Leaders who fail publicly don't just dishonor themselves and their families, but erode trust and goodwill in the community.

Idaho carpenter Dale Schroeder was a blue-collar, lunch pail kind of a guy. He went to work every day, worked really hard, and was frugal like a lot of Iowans. Back in 2005 he told his lawyer, "I never got the opportunity to go to college and so I'd like to help kids go to college."

When the working-class tradesman went to the lawyer to set up the scholarships the lawyer's jaw dropped when Schroeder disclosed the amount he had saved. As a frugal man without a family of his own, he put together a $3 million scholarship fund that has made it possible for 33 people to attend college.

Kira Conrad, the last of the 33 to have their college tuition paid in full by Schroder's fund said, "I grew up in a single-parent household and I had three older sisters so paying for all four of us was never an option. For a man that would never meet me, to give me basically a full ride to college, that's incredible. That doesn't happen."

The 33 Iowans Schroeder put through college recently gathered around his old lunch box. They dubbed themselves "Dale's kids." It was a group of doctors, teachers, and therapists with no college debt. With Schroeder gone, there's no paying it back. His only wish was they pay it forward by emulating his generosity.