Since 10 percent of American families own 90 percent of the stocks, higher profits and stock prices have only helped those at the very top, he said.
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"Higher profit margins do not increase societal wealth. What they actually do is exacerbate income inequality, and that's not a good thing."
To address the problem, Jones has formed Just Capital, a not-for-profit that aims to increase justness in companies. To define "justness"—which could include everything from job creation to wages to the environment—he is seeking public input through national surveys and polls.
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Jones' talk comes just a week after protesters gathered outside Jones' mansion in Greenwich, Connecticut, calling him a "right-wing extremist" who they said was "destroying jobs, dodging taxes, privatizing schools and bankrolling efforts to block a minimum wage hike."
The protesting group calls itself the "Hedge Clippers," a reference to hedge funders, and they wielded fake hedge clippers as "the new pitchforks" in the class wars.
Jones has become one of the biggest philanthropists in the hedge fund world and is the founder of the Robin Hood Foundation, which has raised and granted more than $1.45 billion to help the New York poor.