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World’s five richest men double their money as poorest get poorer
(www.theguardian.com)
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this post was submitted on 15 Jan 2024
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Wait Musk is still such a strong first place? I thought with twitter bombing, people starting to dislike Tesla, general weird behavior, he was losing quite a bit? I'm probably way out of touch but isn't someone catching uo to him?
That's the neat part. When you're rich you can make as many mistakes as you want, and you'll still be rich.
Yep money keeps making money
Lost more money than anyone ever has ever and is still the richest human alive. Howzat for fucked
They don't even lose money. Those huge figures that keep changing are literally imaginary. For example, let's say I have company and I make it publicly traded. I keep 100 shares and sell 100 shares for a dollar each. some guy buys 1 then sells it to someone else for $10. Now I have $1000 because each share is valued at $10 now. A few days later some other guys sells his 1 share for $5. Now I have $500 and I've lost half my money overnight. And during all this up 1000% down 50% advanture only $115 changed hands. There has never been a 1000 or even 500 dolars.
If I wanted to sell. my 100 shares when it was 10 a piece I wouldn't be able to do so, because as soon as I start selling shares on mass it would lose its value. But I can show it as collateral and get credit from a bank. I didn't create any value but now I have lots of cash. The more I think about it the more pissed of I get.
Tesla shares constitute something like 70% of Elon's total fortune. Twitter is overall not that relevant for his big picture wealth, and weird behavior even less so.
At the moment Tesla's stock price is in decline because of competition from China and the overall EV market not growing as fast, so Bezos or somebody else could indeed overtake Musk in the near term. But this could easily change again next month, the stock market is fickle.
It so cool that you can buy your way into an existing company that already had talent and an idea, and then become among the richest people in the world...
Wait sorry, Hard Work™©® yeah... That's what he did... Hard Work...
Oh there was hard work involved. His daddy's emerald mine money worked very hard to get him where he is. And the slaves in those mines worked very hard to build daddy's money.