[Gormo]

> I mean, I think the whole point of the act is to stop "rich people" from maintaining privacy/secrecy in regards to the businesses they own.

No, the act has little effect on "rich people". It applies only to non-public firms with 20 or fewer employees, and exempts most firms in the banking and finance industries.

It encumbers your local barbershop and the mom-and-pop restaurant on the corner, but the "rich people" get a pass.

> And that's a good thing.

It turns out that "rich people" have as much right to maintain the privacy of sensitive personal information as anyone else.