Mid Day Daily

Friday, March 5, 2021
Log in
  • Home
  • National & International
  • Business & Financials
  • Technology
  • Health
  • Science
  • About Us
    • Our Staff
    • Contact Us
    • Privacy Policy GDPR
    • Terms of Use
  • Latest News
    • Sloths Were Declared the Slowest Animals on Earth
    • Facebook’s Messenger Will Give You the 411 on Non-Friends
    • Fun Facts About the Coconut Crab
    • The Coyote Hunting in Wisconsin might be Banned
    • Autism Was Genetically Introduced In Monkeys
    • Tully Monster Has Many More Mysteries Left To Offer
    • Mom Claims Daughter Was Forced To Get Naked To Pass Exam In School
    • What Happens When Two Planets Collide?
    • FDA Approves the BrainPort Vision Device That Gives Hope To The Blind
    • Two Cretaceous Plankton-Eating Fish Species Were Discovered
    • Columbia University Researchers Store Computer Information on DNA Strand

Pages

  • About Midday Daily
  • Contact Us
  • Our Staff
  • Privacy Policy GDPR
  • Terms of Use

Recent Posts

  • Indiana Jones 5 Won’t Open in 2020 After All June 29, 2018
  • ‘Oumuamua is Actually a Comet, Not an Asteroid (Study) June 28, 2018
  • Best Evidence of Alien Life on Saturn’s Moon Enceladus, Found (Study) June 28, 2018
  • Jeremy Irons to Star in HBO’s Watchmen Reboot June 27, 2018
  • The Fermi Paradox: We Might Be Alone in the Universe (Study) June 26, 2018
  • The Strawberry Moon and Who It Will Affect June 26, 2018
  • Tom Holland Reveals Spider-Man: Homecoming Sequel Title June 25, 2018
You are here: Home / Business & Financials / Cartier Owner Is Losing Sleep Over The Poor Rising Up

Cartier Owner Is Losing Sleep Over The Poor Rising Up

June 11, 2015 By Amilia Allport 1 Comment

Email, RSS Follow

Cartier Owner Is Losing Sleep Over The Poor Rising Up

This week at the FT Business of Luxury Summit in Monaco Johann Rupert, chairman of Richemont, talked about hot the effects of wage inequality keep him up at night, precisely because he thinks that a revolution of the poor is imminent.

It seems that Mr. Rupert has been affected by the Hunger Games films a little bit too much, because he actually said that he is preparing for this coming revolution and that he hopes to manage to survive it.

Rupert believes that the trigger will be the destruction of the middle class that will come to pass in the following years, due to the introduction of very smart technology that is able to render some jobs obsolete.

And when this happens, the millionaire expects all the poor people to rise up and impose their retribution on the wealthy. And the example that he gave actually fits perfectly with his current situation.

He talked about how rich people will eventually stop displaying expensive things in public, because they will fear the fact that their children’s schoolmates have unemployed parents.

This actually makes a lot of sense considering that Richemont includes companies like Cartier and Mont Blanc. Furthermore, since these companies are experiencing problems for the first time at the moment, after at least two decades of uninterrupted prosperity, it is explainable why Mr. Rupert is rather traumatized.

“How is society going to cope with structural unemployment and the envy, hatred and the social warfare? Because the people with money will not wish to show it” said Mr. Rupert.

Mr. Rupert has made a fortune from men that pay lots and lots of money to buy diamond engagement rings for their dewy-eyed fiancees. It has actually been estimated at $7 billion, which is more than a person can spend in a lifetime, if you think about it.

But at the first signs that his fortune might not be getting bigger this year, Mr. Rupert seems to have been struck by paranoia. And he even admits is. And yet, he says that he would rather be paranoid and prepared for the coming revolution, rather than hopeful and ill-equipped.

He talked about how 0,1% of 0,1% are “taking all the spoils” and how this is unsustainable and not fair, precisely because these would remain Richemont’s only clients. Therefore, he finds the elaboration of a social pact absolutely imperative.

There is some truth to Mr. Rupert’s words though, because the destruction of the middle class will truly have devastating effects on society and there will come a time when wage inequality will have to be addressed in a situation where the poor majority will fight the wealthy minority.

However, we still have some more years to go until we get to that point, and there is a chance that through the right decisions, this type of crisis could be avoided.
Image Source: businessoffashion.com

Email, RSS Follow

Filed Under: Business & Financials

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 10 other subscribers

Recent Articles

USPS van

Chinese Drug Dealers Shipping Drugs to U.S. via Postal Service

January 28, 2018 By Dean Lamori

Marlboro cigarette packs

Philip Morris Wants to Help You Quit Smoking

January 6, 2018 By Dean Lamori

Drugs and money

Drug Company Sued for Bribing Doctors to Prescribe Potent Opioid

December 24, 2017 By Dean Lamori

Smartphone user sitting on sidewalk

Calif. Health Dept: Excess Smartphone Use Can Cause Brain Cancer

December 17, 2017 By Dean Lamori

jared kushner

Kushner Plans to Revamp 666 Fifth Avenue Skyscraper, Partner Isn’t Supportive

November 2, 2017 By Tom Hager

elon musk

Elon Musk Shares Progress He Made with Boring Company on Twitter

October 30, 2017 By John Cooper

starbucks mugs

Starbucks Takes Halloween Seriously with New Zombie Frappuccino

October 28, 2017 By Kurt Cottrell

ecigarette

New York to Treat eCigarettes Same Way as Regular Cigarettes in Public Indoor Areas

October 26, 2017 By Tom Hager

amazon box

Amazon Warehouse Delivered Couple’s Requested Storage Containers with 65 Pounds of Weed

October 25, 2017 By Kurt Cottrell

ibm offices

IBM’s Q3 Report Encourages Greater Sales Expectations for the First Time in Years

October 19, 2017 By Kurt Cottrell

dubai police supercars

Dubai Police to Patrol the City from Above Thanks to Multirotor Hoverbikes

October 16, 2017 By John Cooper

marketing stunt for rick and morty

Woman Received Volkswagen Car for One Legendary Szechuan Sauce Pack from McDonald’s

October 14, 2017 By Amanda Lane

honeywell center

Honeywell to Turn Two Units into Publicly Traded Companies by 2019

October 12, 2017 By Tom Hager

self-driving car

New AI Project Will Help Autonomous Cars See What’s Around Corners

October 11, 2017 By Sam Doliente

Related Articles

  • USPS van

    Chinese Drug Dealers Shipping Drugs to U.S. via Postal Service

    Jan 28, 2018
  • Marlboro cigarette packs

    Philip Morris Wants to Help You Quit Smoking

    Jan 6, 2018
  • Drugs and money

    Drug Company Sued for Bribing Doctors to Prescribe Potent Opioid

    Dec 24, 2017
  • Smartphone user sitting on sidewalk

    Calif. Health Dept: Excess Smartphone Use Can Cause Brain Cancer

    Dec 17, 2017
  • jared kushner

    Kushner Plans to Revamp 666 Fifth Avenue Skyscraper, Partner Isn’t Supportive

    Nov 2, 2017
  • elon musk

    Elon Musk Shares Progress He Made with Boring Company on Twitter

    Oct 30, 2017
  • starbucks mugs

    Starbucks Takes Halloween Seriously with New Zombie Frappuccino

    Oct 28, 2017
  • ecigarette

    New York to Treat eCigarettes Same Way as Regular Cigarettes in Public Indoor Areas

    Oct 26, 2017
  • amazon box

    Amazon Warehouse Delivered Couple’s Requested Storage Containers with 65 Pounds of Weed

    Oct 25, 2017
  • ibm offices

    IBM’s Q3 Report Encourages Greater Sales Expectations for the First Time in Years

    Oct 19, 2017

Categories

  • Business & Financials
  • Entertainment
  • Health
  • National & International
  • Nature
  • Science
  • Technology
  • U.S.
  • World

Copyright © 2021 MidDayDaily.com

About · Privacy Policy · Terms of Use · Contact

This website uses cookies to ensure you get the best experience on our website. Learn more.