Famous VC Apologizes For 'Nazi' Quote, But Still Says Rich Need To Get Richer To End Income Inequality

Legendary VC Tom Perkins on Monday explained, clarified, apologized for and then stood by his controversial letter where he said that people who criticize the rich were behaving like the Nazi's did toward the Jews in World War II.

Speaking in an interview with Bloomberg Television anchor Emily Chang, Perkins very carefully said that he apologized for using the word "Kristallnacht" in his letter to the Wall Street Journal, but that he stood by the general message of the letter: that he thinks America is dangerously demonizing the rich.

He views the rich as a minority.

He said, "It was a terrible word to have chosen." Kristallnacht refers to one of the first raids on German Jews that was the onset of the Holocaust in which 6 million Jews were ultimately killed.

He recounted how his partner Eugene Kleiner, who had escaped from Nazi Germany, and taught him, "Never imagine that the unimaginable cannot be come real."

Then he emphasized:

"But the letter said what I believe, I believe we have to be careful that we don't demonize anybody and we don't demonize the most creative part of society."

Essentially, his argument is the classic "trickle down economics" theory, that the rich are the job creators, that as they spend money everyone benefits and gets richer.

"As a class, we are beginning to engage in class warfare. The rich as a class are threatened through higher taxes, more regulation."

He also verified that the inspiration of this letter came from the articles in which the San Francisco Chronicle teased his friend and ex-Wife, Danielle Steel, about the size her hedge. There was some name-calling involved, the use of the word "snob."

"The fact that everybody now hates me is now part of the game. I'm sorry about that, but that isn't what I meant to do," he summarized at the end of the interview.

There were other moments where Perkins showed off his over-the-top wealth. At one point, he pointed to his watch and said he could buy a "six pack of Rolexes" with it.