Mike Bloomberg: 'Happiness Can Never Buy Money'

Money can't buy happiness. We've heard this saying before.

But what about the reverse.

Former New York City Mayor Michael Bloomberg just wrapped up a panel discussion with macro legend Ray Dalio.

The panel's moderator Stephanie Ruhle asked Bloomberg about kids these days whining about not wanting to work long hours at investment banks.

"Last time I checked, there were tons of people who want to work at Goldman Sachs...Come on!" he said.

Bloomberg, who made his billions founding his namesake media empire, said making money is never easy. That's not just a Wall Street thing either.

"If you want to get paid, you have to work hard. I'm sorry-that's capitalism."

His fellow panelist Dalio added that culture is an important factor to consider when picking a place to work. He went on to say something about how there's no correlation between money and happiness.

Bloomberg swooped in: "Just remember: Happiness can never buy money."

The audience laughed.

Bloomberg's point is that any correlation between happiness and money is purely spurious.