The Lede: The value of wealth

In the latest version of our monthly newsletter, The Lede, conceptually confused critics of entrepreneurs and enterprise, and how a businessperson's motivation is often not money but mission.

Value of wealth reputation management transmission private

This article is an extract from Transmission Private's monthly newsletter, The Lede, which tracks the world of reputation management for private clients. You can sign up for the newsletter on our website via the tab at the bottom of this article or by completing the form here.


How do you value wealth? This was a question I was thinking about over the weekend. A wealth calculator has been doing the rounds on Twitter, showing how long it takes a tech CEO—from Elon Musk to Jeff Bezos—to earn the salary of an average employee. As you might expect, it triggered a wave of scorn against entrepreneurs.

What were people saying? The criticisms have been twofold:

Why is it wrong? Fundamentally, there is a deep misunderstanding about most entrepreneurs' motivations. They do not go into the office to make as much money as possible but, instead, because they want to feel they are making a meaningful contribution to the world. The idea that Musk wanted to reopen his Tesla factory so that he could make a few extra bucks is ludicrous. He is trying to radically upend transport.

Why is this important? It reveals that the enmity towards enterprise and wealth creation often comes from a misunderstanding about the motivations behind business. It also shines a light on the importance of entrepreneurs and family offices giving more visibility to their purpose, mission and values—showing that making money is not the only goal.

Transmission Private publishes a monthly newsletter that tracks the future of reputation management for private clients.

Stay ahead

Transmission Private publishes a monthly newsletter that tracks the future of reputation management for private clients.

  • Interviews with leading private client advisers
  • Podcasts with award-winning reputation practitioners
  • Insights from media, legal and wealth management experts
Sign up to The Lede
Close

Transmission Private publishes a monthly newsletter that tracks the future of reputation management for private clients.