Present assests- probably, but when taken over a longer time scale this makes increasing sense. many folks with >100k debt usually have several grad degrees , medical, engineering, law, etc, & whether annualized or summed, their future earnings may be productively invested into an advocacy campaign which would not only benefit them but others who have less natural income cushion and thus less of a parachute.
Individual mega-investors are no doubt powerful, but what about investor collectives. if a single company and/or entity can take on even 1/10th the power of Icahn collectively, it is something worth considering.
there is asymmetry of purpose as well as asymmetry of net worth. an individual mega investor spends as much as he (or she, but lets be honest, its almost always he) wants on anything at all. a class of several tens of thousands of investors in a collective will struggle with their decision making in all the expected ways.
Individual mega-investors are no doubt powerful, but what about investor collectives. if a single company and/or entity can take on even 1/10th the power of Icahn collectively, it is something worth considering.