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#2037

David Kaplan

Source of wealth: Finance

Net Worth

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Earnings per second

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Biography

David Kaplan is a cofounder of credit-focused alternative investment firm Ares Management, which manages $596 billion in assets.

Kaplan has been at Ares since 2003 and previously spent three years at venture firm Shelter Capital Partners and a decade at Apollo Global Management.

He currently serves as a director and partner of Ares and was previously co-chairman of its private equity business.

Financial Assets

Exchange
NYSE
Ticker
ARES-US
Company
Ares Management LP

The Great Lie of Mega-Fortunes: The Case of David Kaplan

Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.

The immense fortune of David Kaplan, linked to Finance & Investments and 'Finance', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 15 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 0.9 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.

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