Ramit Sethi Tells Bill Ackman, 'Wealthy People Used To Build Libraries, Not Post 40,000-Word Incoherent Rants On Twitter.' Here's Why

Benzinga_recent_news04-21

Personal finance author Ramit Sethi criticized Pershing Square Capital Management founder Bill Ackman, who slammed a proposed tax on secondary homes in New York. “Wealthy people used to build ...

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Here's Why\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-04-21 02:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/topics/26/04/51922674/ramit-sethi-tells-bill-ackman-wealthy-people-used-to-build-libraries-not-post-40000-word-incoherent-rants-on-twitter-heres-why><strong>Benzinga_recent_news</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Personal finance author Ramit Sethi criticized Pershing Square Capital Management founder Bill Ackman, who slammed a proposed tax on secondary homes in New York. \n“Wealthy people used to build ...</p>\n\n<a href=\"https://www.benzinga.com/news/topics/26/04/51922674/ramit-sethi-tells-bill-ackman-wealthy-people-used-to-build-libraries-not-post-40000-word-incoherent-rants-on-twitter-heres-why\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4077","symbol_name":"互动媒体与服务","start_time":0,"source_url":"https://www.benzinga.com/news/topics/26/04/51922674/ramit-sethi-tells-bill-ackman-wealthy-people-used-to-build-libraries-not-post-40000-word-incoherent-rants-on-twitter-heres-why","article_id":"2629778974","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/files/images/story/2026/04/20/Old-Globe-Lying-On-An-Open-Book-In-A-Lib.jpeg?optimize=medium&dpr=2&auto=webp&width=240"],"rights":{"source":"benzinga_recent_news","url":"https://www.benzinga.com/news/topics/26/04/51922674/ramit-sethi-tells-bill-ackman-wealthy-people-used-to-build-libraries-not-post-40000-word-incoherent-rants-on-twitter-heres-why","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2629778974","pubTimestamp":1776708420,"columns":[],"sourceInfo":{"source_id":"benzinga_recent_news","name":"Benzinga"},"weMediaInfo":null,"summary":"Personal finance author Ramit Sethi criticized Pershing Square Capital Management founder Bill Ackman, who slammed a proposed tax on secondary homes in New York.“Wealthy people used to build libraries, not post 40,000-word incoherent rants on Twitter,” Sethi said on X on Thursday.At the center of the debate is a recently proposed pied-à-terre tax backed by New York Gov. Kathy Hochul and Mamdani targeting second homes worth more than $5 million that are not used as a primary residence.“If you can afford a $5 million second home that sits empty most of the year, you can afford to contribute like every other New Yorker,” Hochul said in a statement on Wednesday.City officials estimate the tax could generate around $500 million annually, with funds going toward child care, cleaner streets and public safety.Mamdani framed the move as a fairness issue, arguing that wealthy non-residents benefit from rising real estate values without contributing enough. “This is a fundamentally unfair system ","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4077":"互动媒体与服务","POST":"Post Holdings","SOCL":"社交媒体ETF-Global X","BK4579":"人工智能","BK4516":"特朗普概念","BK4534":"瑞士信贷持仓","TWTR":"Twitter","BK4508":"社交媒体","BK4212":"包装食品与肉类","BGSX":"Build Acquisition Corp"},"translate_title":"拉米特·塞西(Ramit Sethi)告诉比尔·阿克曼(Bill Ackman)，“富人过去常常建造图书馆，而不是在Twitter上发布40,000字语无伦次的咆哮。”原因如下","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"POST":1.5,"SOCL":1.5,"TWTR":1.5,"BGSX":1.5},"content_text":"Personal finance author Ramit Sethi criticized Pershing Square Capital Management founder Bill Ackman, who slammed a proposed tax on secondary homes in New York. \n“Wealthy people used to build libraries, not post 40,000-word incoherent rants on Twitter,” Sethi said on X on Thursday.\nDon't Miss:\nAt the center of the debate is a recently proposed pied-à-terre tax backed by New York Gov. Kathy Hochul and Mamdani targeting second homes worth more than $5 million that are not used as a primary residence.\n“If you can afford a $5 million second home that sits empty most of the year, you can afford to contribute like every other New Yorker,” Hochul said in a statement on Wednesday.\nCity officials estimate the tax could generate around $500 million annually, with funds going toward child care, cleaner streets and public safety.\nMamdani framed the move as a fairness issue, arguing that wealthy non-residents benefit from rising real estate values without contributing enough. “This is a fundamentally unfair system that hurts working New Yorkers,” he said in the video.\nTrending: Jeff Bezos Isn't Alone — Discover the Asset That's Outsmarted Stocks Since 1995\nAckman pushed back hard, defending wealthy property owners like Griffin, who purchased a $238 million Manhattan penthouse in 2019, which set a record as the most expensive residential sale in U.S. history at the time.\n“We should be applauding Ken for spending $238 million in NYC, not attacking him for doing so,” Ackman wrote on Thursday.\nHe argued that ultra-wealthy buyers help make luxury developments viable, supporting high-paying jobs in construction, real estate, legal services and more. According to Ackman, these individuals also spend money in the city, donate to nonprofits and already pay significant taxes.\n“These non-resident owners also already pay a lot of taxes including mansion taxes, real estate taxes, sales taxes and more,” he added.\nAckman warned that policies targeting the rich could result in wealthy individuals and businesses leaving New York, pointing to the risk of companies shifting jobs to cities like Miami.\nSee Also: Deloitte's #1 Fastest-Growing Software Company Lets Users Earn Money Just by Scrolling — Investors Can Still Get In at $0.50/Share\nSethi didn't hold back in his response. “Stop being a cheapskate and encourage your rich friends to pay their taxes, Bill,” he wrote.\nSethi added that wealthy figures once focused on building lasting public institutions, but now spend their time posting lengthy, unfocused threads online–a pointed jab at Ackman, who is known for publishing long, detailed posts on X.\nHis comments reflect a broader argument that extreme wealth comes with greater responsibility, and that public contributions should go beyond economic activity or indirect benefits.\nRead Next: Most Investors Can't Access These Real Estate Deals — But Accredited Investors Can\nRad AI\nMode Mobile\nrHealth\nrHealth is building a space-tested diagnostics platform designed to bring lab-quality blood testing closer to patients in minutes rather than weeks. Originally validated in collaboration with NASA for use aboard the International Space Station, the technology is now being adapted for at-home and point-of-care settings to address widespread delays in diagnostic access.\nBacked by institutions including NASA and the NIH, rHealth is targeting the large global diagnostics market with a multi-test platform and a model built around devices, consumables, and software. 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