Sebastian Klein, co-founder of Blinkist, once lived the life of a multimillionaire. However, unlike many of his peers, Klein chose to give away 90 percent of his wealth, convinced that extreme wealth harms society. The arguments behind this conviction form the foundation of his new book, “Toxisch Reich”, in which he critiques the concentration of wealth and its effects on democracy, social justice, and the environment.

Klein raises critical questions that challenge the status quo. He explores the connection between wealth and poverty, questioning why the richest individuals escape inheritance tax while the working class faces heavy taxation. He also highlights the stark contrast between billionaires indulging in space tourism while others struggle to afford heating.

In “Toxisch Reich”, Klein outlines several key concerns about the effects of extreme wealth on society. He argues that when wealth is concentrated in the hands of a few, it leads to an imbalance of power, allowing the ultra-wealthy to influence political decisions, policies, and even the media, making democracy less representative. He also examines how the widening gap between the rich and the poor threatens social cohesion, as a small percentage of individuals enjoy immense wealth while many struggle to meet basic needs. Furthermore, he addresses the role of wealth in fueling the climate crisis, asserting that wealthy individuals and corporations contribute disproportionately to environmental degradation through excessive consumption, luxury lifestyles, and investments in polluting industries. Another crucial aspect of his critique is the unfairness of taxation systems, where labor is heavily taxed while wealth, especially inherited wealth, remains largely untaxed, reinforcing systemic inequality.

Klein does not simply highlight these problems; he also proposes solutions. He advocates for a fairer taxation system that implements higher taxes on large fortunes and closes loopholes that allow the ultra-rich to avoid paying their fair share. He suggests that wealth should be redistributed through increased investment in education, healthcare, and social services to create more opportunities for everyone. He calls for inheritance tax reform to prevent wealth from being concentrated across generations. He emphasizes the need for corporate responsibility, urging businesses to adopt sustainable and ethical practices, ensure fair wages, and take responsibility for their environmental impact. Moreover, he underscores the importance of public awareness and advocacy, encouraging citizens to demand policies that promote social justice and reduce wealth inequality.

With this book, Klein reiterates the message that extreme wealth is not just a personal asset—it is a societal issue that demands urgent attention.