The collective wealth of the 4 richest U.S. billionaires surpasses $1 trillion dollars for the first time ever. : aboringdystopia

[–] AlecSadler@sh.itjust.works 82 points 8 months ago

[–] Arbiter@lemmy.world 61 points 8 months ago

Delay, Deny, Depose.

[+] HubertManne@moist.catsweat.com 51 points 8 months ago (3 children)

[removed by mod]

[–] sexy_peach@feddit.org 47 points 8 months ago (1 children)

The stock market is vibes based

[–] Hideakikarate@sh.itjust.works 21 points 8 months ago

Sad thing is that they probably went up since the election.

[–] Sanctus@lemmy.world 0 points 8 months ago (1 children)

Its fake

[–] stinky@redlemmy.com 1 points 8 months ago (1 children)

What is?

[–] Sanctus@lemmy.world 6 points 8 months ago* (last edited 8 months ago) (1 children)

The value of Elon's companies is fake. Its whatever the vibe machine says it is.

[–] stinky@redlemmy.com -2 points 8 months ago (2 children)

Tesla has a market capitalization of 1.22 TRILLION dollars. I don't like the guy either but you need to have a basic level of understanding of economics to offer critique, sorry.

[–] Sanctus@lemmy.world 5 points 8 months ago

The market cap exists because Musk has lobbied the government to not allow Chinese cars that are way cheaper and have better Quality Control. So most people have to purchase one of his electric lock only, semi-trucks-are-the-sky death boxes. They will always have problems because they are always parsing raw video data since they use such cheap cameras. You can believe what you want, but Musk sits on a cardboard throne that he did not even earn by legitimate means. Tesla is not a superior product, its one of the only products allowed in town.

[–] hark@lemmy.world 5 points 8 months ago

Can you use your basic level understanding of economics to explain why Tesla has a market capitalization of more than the next dozen or so automotive companies COMBINED?: https://companiesmarketcap.com/automakers/largest-automakers-by-market-cap/

[–] Linktank@lemmy.today 30 points 8 months ago* (last edited 8 months ago) (3 children)

Eat the rich.

I'll say "OM!" then you all chant back "NOM! NOM! NOM!" in unison.

OM!

[–] sexy_peach@feddit.org 14 points 8 months ago

Nom nom nom!

[–] stinky@redlemmy.com 6 points 8 months ago

Nom nom nom!

[+] moral_quandary@lemmy.world 27 points 8 months ago* (last edited 8 months ago)

[deleted]

[–] jared@mander.xyz 20 points 8 months ago

Greed kills, kill greed!

[–] ShareMySims@sh.itjust.works 18 points 8 months ago

This seriously needs an update.

[–] superkret@feddit.org 13 points 8 months ago (1 children)

For context, that is about 1% of the GDP of the world.

[–] LifeInMultipleChoice@lemmy.world 7 points 8 months ago* (last edited 8 months ago)

Well if you want to have fun with that. Take Musks 362B listed here. Assume he does nothing but leave it in the market at the 10yr average growth of 11% interest. I saw the other day... He alone will have around 14T when he dies. Assuming he doesn't live into his 90s. (35 years was what I picked, assuming death at 88)

Edit: Throw in to help understand how much money that is. That's enough money to build a $250,000 house for everyone in America every 20 years (assuming average household is 3 people). Without touching the initial investment, and factoring in 3% annual inflation. Anyone buying a $400k house today that thinks it couldn't be built for $250k using mass purchasing and building teams I would assume to be wrong.

That would free up every rent/morgage payment in America to be spent elsewhere, allowing for economic growth in other areas.

[+] IDKWhatUsernametoPutHereLolol@lemmy.dbzer0.com 12 points 8 months ago* (last edited 4 months ago)

[deleted]

[–] problematicPanther@lemmy.world 8 points 8 months ago

One down

[–] JohnDClay@sh.itjust.works 8 points 8 months ago (1 children)

Is there an inflation adjusted version of this? I'm wondering if anyone even in the gilded age got this wealthy.

[–] taiyang@lemmy.world 12 points 8 months ago

There is, and they came close. I only remember Rockefeller net worth being something over $250 billion based on economic output.

Actually, looking it up, it could be as high as $400 billion. Ah, the 1800s were pretty worse than today's standards...

At least it looks like people die and fortunes move on. Apparently his descendants are worth only $10 billion collectively now, somehow.

[–] crozilla@lemmy.world 6 points 8 months ago

Look at Larry Ellison keeping a low profile. Smart.

[–] werefreeatlast@lemmy.world 1 points 8 months ago

Larry!

https://encrypted-tbn0.gstatic.com/images?q=tbn%3AANd9GcRSfNw8n1Vmj9irVPW2Xslc3Loh5ZiFPeGHRQ&usqp=CAU

[–] MisterFrog@lemmy.world 1 points 8 months ago

We're gonna see our first trillionaire within a decade aren't we.

[+] FlashMobOfOne@lemmy.world -7 points 8 months ago (3 children)

You can't beat them, but you can ride their coattails a little if you invest in stocks.

[–] sin_free_for_00_days@sopuli.xyz 13 points 8 months ago (2 children)

Step 1: Have discretionary money

Step 2: Invest

I guess I'm stuck at Step 0.5.

[–] FlashMobOfOne@lemmy.world 6 points 8 months ago

Sadly, that's the case for most, and it always will be since we only elect capitalists.

[–] ShaggySnacks@lemmy.myserv.one 2 points 8 months ago

I always find it sad, when investing companies will have a promotions like "Invest $100,000 and get this amazing benefit."

I don't have a spare $100k to just to drop on investing.

[–] ShareMySims@sh.itjust.works 3 points 8 months ago

"Fuck you, I'm going to get mine"

[–] funkless_eck@sh.itjust.works 1 points 8 months ago (1 children)

thats just gambling but takes longer. at least at the roulette table you find out right away

[–] FlashMobOfOne@lemmy.world 1 points 8 months ago* (last edited 8 months ago)

It's really not.

There are so many ways to invest smart. Hell, it's legal for congresspeople to insider trade (like Nancy Pelosi, Ted Cruz, and others) and there are whole-ass ETF's you can invest in that just follow those legislators' investments so you can piggyback on their trades.

Gambling is for people with no patience to read or wait for a return. That's the long and short of it.

A Boring Dystopia