Footballers, pop stars, entrepreneurs – who is actually allowed to be rich?
Translated from German, summarized and contextualized by DistantNews.
At a glance
- The article questions who is allowed to be rich, contrasting the backgrounds and public perception of Cristiano Ronaldo and Elon Musk.
- It highlights Ronaldo's rise from a working-class family to becoming the world's richest active athlete through football, endorsements, and businesses, despite criticism of his move to Saudi Arabia.
- Elon Musk's wealth, derived from tech ventures like Tesla and SpaceX, faces scrutiny over alleged inheritance and harsh working conditions, though the article notes his companies have also created millionaires among employees.
The question of who is permitted to be wealthy is increasingly debated, with figures like footballer Cristiano Ronaldo and entrepreneur Elon Musk drawing scrutiny for their immense fortunes.
Ronaldo, who hails from a working-class background in Madeira, overcame financial hardship and parental struggles to pursue his football dreams. His dedication led him to be discovered by Alex Ferguson and play for elite clubs like Manchester United, Real Madrid, and Juventus, before moving to Saudi Arabian club Al-Nassr, a transfer often criticized as "sportswashing" due to the host nation's human rights record. Today, Ronaldo is the world's richest active athlete, with an estimated fortune of $1.2 to $1.4 billion, amassed through his sporting achievements, lucrative endorsements, and various business ventures including hotels and fashion lines. He openly displays his wealth through a custom private jet, a collection of luxury cars, yachts, and expensive watches.
Elon Musk's path to wealth is also examined. Contrary to popular myth, Musk did not inherit a fortune; his family was well-off but not wealthy. His father, an engineer and property investor, reportedly had a difficult relationship with his family. While there are conflicting accounts about a $28,000 investment from his father, Musk's significant wealth was built through tech companies like Zip2 and PayPal, and notably through the success of Tesla and SpaceX. He is credited with advancing green electric mobility and revolutionizing space travel with reusable rockets. Following SpaceX's IPO, he briefly became the world's first dollar-billionaire.
Despite their different origins, both men face criticism. Ronaldo's move to Saudi Arabia draws ethical questions, while Musk is often accused of inheriting wealth, not founding his companies independently (PayPal resulted from a merger, and he joined Tesla early as an investor), benefiting from state contracts, and imposing harsh working conditions. Oxfam's calculation of Musk earning $4,500 per second, while factually inaccurate as it represents changes in asset value rather than cash flow, reflects public sentiment about extreme wealth accumulation. The article notes that SpaceX's IPO also created millionaires among its employees, complicating the narrative of wealth creation and its distribution.
Originally published by Die Presse in German. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.