Summary
Since Trump’s second-term inauguration, five top billionaires have lost a combined $209 billion as markets react to policy uncertainty.
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Elon Musk’s net worth plunged $148 billion as Tesla shares collapsed amid declining European and Chinese sales.
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Jeff Bezos lost $29 billion as Amazon stock fell 14%.
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Sergey Brin’s fortune dropped $22 billion following Alphabet’s weak earnings and regulatory pressure.
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Mark Zuckerberg and Bernard Arnault each lost $5 billion as Meta and LVMH stocks tumbled.
The S&P 500 is down 6.4%, reversing gains seen post-election.
lol
The only solace to watching all my retirement and investments get cratered is the fact that the assholes that brought this all about are taking the bigger hit.
and the American retirees who depend on their savings lost trillions to these idiots. A majority of those retirees voted conservative, but I feel bad for the ones who didnt.
As you get closer to retirement, the usual strategy is to shift from a stock-heavy portfolio to something less volatile. The retirees getting burned are the ones who were too ignorant or greedy to do that.
Toadying capitulators all
Comparing my net worth to that total net worth? I’d be upset, but not terribly so, if I lost $1000 too.
But since I would be getting it back later, and then some, it’s more like a small investment only . Definitely worth the small risk,
only meaningful if their stocks don’t bounce back, but too soon to tell
Stocks will always bounce back. But the people that live off their 401ks now have to sell at a loss to survive.
Also only meaningful if they can’t buy up actual, tangible assets in the coming recessions, effectively converting their dead capital into more assets. (+ getting more state money for being “too big to fail”)
Very similar to what happened just before the “collapse” of the Soviet Union, which seems to be Trump’s aspiration. It had turned into a free-for-all.
No, they’re gonna. It’s exactly what happened last recession. The pain got offshored to the workers, and the people with assets used the moment to leverage their assets to buy more assets on the cheap.
Yep, every time the US is in an economic low period, the top 1% snatch up swathes of assets for cheap. It’s how we went from 1 billionaire, to several, then several billionaires to hundreds in the last ~20 years
Do what they do, put some extra cash away and buy an index funds
We just need to keep going until at worlds population billionaires
These companies will absolutely use these things as excuses to replace workers with AI chatbots.
I have a theory that this is all planned. Tank share market, buy lots of shares, in a few years they get all their wealth back and more.
Ridiculous how some people pander, especially the press, to the billionaire set.
When they have a downturn in net worth people say they “lost” money, or are “poorer” even though they’re still worth billions.
But when they’re making money hand over fist, millions of dollars daily, people act like that money doesn’t exist. “Oh, it’s tied up in investments, you can’t tax it…It’s not income! It’s not in their bank account.”
Always the poor billionaires; perpetually simultaneously unable to touch their money, complaining when they lose money they ”don’t have,” and living like billionaires with all the conspicuous consumption that goes with it.
Damn Globalists at it again huh? LMAO 🤣
Just Covid economy 2.0 shifting more of everyones money into less hands, this way it can be Bidens fault it dropped and then Trumps when it regains
A good start. It takes much more to fix this problem, though.
Them losing billions is meaningless. Don’t for this: if you had 1 billion dollars, and you lost 99% of it, you still have 10 million dollars, which is more than what most people will ever have.
Their entire industries need to be nationalized and ALL their assets seized.
I’m sure they will be able to weather the storm. I bet they could find a way to get by on “only” a billion, let’s say.
When someone has this much money, it doesn’t matter if they buy the presidency, buy the media, buy the means to live, buy people’s rights… It doesn’t matter. They will never get the respect and love they desperately seek like all humans do. They will never love themselves until they understand that their wealth isn’t earned and they aren’t special. We don’t consider ourselves better than anyone as a human and then not get depressed and lonely. It’s not difficult for us to accept kinship with all humans, but almost impossible for them.
Keep it coming people! Stay the course!
Damn that’s financially irresponsible. I’ve only lost a $20 since then
