- Sean Parker, billionaire and ex-President of Facebook, says one of the biggest advantages rich people have is access to better healthcare.
- Because of this, according to Parker, rich people can live longer and continue to grow their wealth.
- “[G]ive us billionaires an extra hundred years and you’ll know what … wealth disparity looks like,” he said.
Sean Parker, the first president of Facebook, revealed recently what he believes to be one of the greatest advantages rich people have.
“Because I’m a billionaire, I’m going to have access to better healthcare,” the entrepreneur said at an Axios event at the National Constitution Center in Philadelphia.
Healthcare costs in the US are higher than ever – with many families struggling to keep up with the growing expense. The average annual healthcare costs per person reached $10,345 in 2016, according to data from the Centers for Medicare and Medicaid Services.
“So … I’m going to be like 160 and I’m going to be part of this, like, class of immortal overlords. [Laughter] Because, you know the [Warren Buffett] expression about compound interest. … Give us billionaires an extra hundred years and you’ll know what … wealth disparity looks like.”
Life expectancy is predicted to increase across the board in the future, but with the ability to afford top-end healthcare, rich people may have an even greater chance of outliving everyone else now, according to Parker, whose current net worth is about $2.6 billion.
Parker is the founder and chair of the Parker Institute for Cancer Immunotherapy, which aims to accelerate cancer innovation. He established the research organization in 2016 with a $250 million grant from his charity, the Parker Foundation.
Parker found success at an incredibly young age after cofounding music-sharing site Napster and then moving on to become the founding president of Facebook. He’s developed a reputation as a big spender and a big partier. He’s also notoriously outspoken.
At the same event, Parker was sharply critical of Facebook, accusing it of exploiting human “vulnerability.”
He’s not the first wealthy tech entrepreneur to take issue with the addictive power of digital technology. Bill Gates and Steve Jobs both limited their kids screen time at home.
“God only knows what it’s doing to our children’s brains,” Parker said.