My daughter asked me this. How would you explain wealth inequality to a 12-year-old?
For context: ex-wife cheated on me and married this extremely wealthy Chinese guy. Crazy wealthy as in entire apartment building in Beijing’s CBD and a mansion out in the Shunyi district as his “main residences”. Daughter lives in China with my ex-wife, her husband and his son. Daughter lives with me during school breaks / holidays.
He was born into money. His dad was able to capitalize on China’s switch to capitalism early on back in the day. And he doesn’t own just 1 apartment, he owns the entire multiple floor building as his personal home.