STAFF EDIT: Bloomberg’s billionaires

In an age where technology seems omnipotent, we have grown accustomed to being bombarded by instant information. At the touch of a button or a click of a mouse, we have unprecedented access to statistics on anything we can imagine. In addition to archived information, our generation has also bought in to the frenzy of information updated constantly. It’s no longer adequate to know economic statistics on a weekly or monthly basis; we can monitor market fluctuation by the minute. As of Monday, Bloomberg News now makes it possible to get daily updates on the twenty wealthiest people in the world.

According to an article published on TIME’s website yesterday, this list will be updated every day to include each individual’s approximate net worth, any daily changes to their assets and annual changes to the same value. If a billionaire’s riches begin to rapidly decrease, the world will be privy to that information. The Bloomberg Billionaires Index is set to steal the spotlight usually reserved for the annual Forbes list published every March. While the list does provide an interesting window into the fluctuating values of the rich and powerful, a daily update seems excessive. Transparency in information is generally welcomed, but there is a limit on how one can benefit from stalking rises and falls of the assets of certain people.

Since the members of this prestigious list are not opposed to this information being in the public domain, the question of privacy is irrelevant. As long as these statistics are being obtained legally, Bloomberg News is within its right to publish its findings. From the general public’s point of view, the list will only be a consistent reminder of who holds enormous amounts of public and often political influence. Nevertheless, a depressing reality remains that we can identify a select few people are in possession of huge wealth, yet we aren’t advocating for a list promoting those who engage in philanthropy. We’re preoccupied with monitoring who has money, when we should be focusing on how they choose to use these vast reserves of disposable income.