Billionaire and Chairman of the Pershing Square hedge Fund bill ackman has come up with a way to solve the problem of property inequality in the United States. He suggests allocating $ 6,750 from the budget for every American at birth. Ekman’s idea is presented in the organization’s report for the first half of 2020.
Ekman considers it necessary to invest money in a basket of index funds. You will only be able to use your savings when you retire. If the current birth rate is maintained, such a program will cost the state $ 26 billion a year, eckman estimated. Given the average return of eight percent per annum, in 65 years every American will receive a million dollars, the billionaire is sure.
According to eckman, such a program will also encourage people to improve their financial literacy and enable all Americans to contribute to the development of capitalism.
The businessman increased the value of the Pershing Square portfolio in the first quarter of this year by $ 20 million. At the height of the pandemic, he bought more papers from Berkshire Hathaway, the Hilton hotel chain, the Howard Hughes development company, the Lowe’s retailer, Restaurant Brands, and the Starbucks coffee chain.
US GDP in the second quarter fell by 32.9 percent compared to the same period last year. In March of this year, the country’s authorities decided to allocate two trillion dollars to support the country’s economy. in may, the government sent another three trillion dollars for this purpose.