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.
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.
So what? It’s not like their bank accounts got affected. Their shares are valued less which means they did not loose money but the lost money they could have had.
They lost pretend money that could be used for business loans that they don’t need because they have so much pretend money. The only time it matteds for these parasites is if it happens when they are acquiring another company worth billions of pretend monies.
Even a stock market collapse is a benefit to these chucklefucks.
The only time it matters for them is when an Italian plumber shows up to collect their debt.
they still have billions stashed somewhere and could buy up things on the cheap/.
Matters at least a bit. For instance, Musk has signalled his interest in buying OpenAI. He will find it far harder to get the money for it now that Tesla shares have nosedived.
More generally with Tesla it is difficult to make a business case for the existence of the company right now, since Musk alienated his entire potential consumer base. I wouldn’t be surprised if the company gets sold into parts in the text two years or so.
sam ALTMAN doesnt seem interested in selling it to him, musk wants to lead in AI research for some reason, since he has nothing show for it. Thiel is the other competitor with"PALINTIR and anduril"
They basically use that “money” as collateral for low interest loans. So it impacts how much they can physically buy. It’s a good thing.
Coverage like this makes me feel sad.
Do people honestly not realise that billionaires always enrich themselves during recessions?
This is all going to plan for oligarchs. People celebrating it are naive unfortunately.
I would say most of it is meaningless other than Elon and specifically Tesla, Tesla stock prices plumetting will remove most of the power from Elon in the future, even Trump might turn on him once his main thing his net worth evaporates
Yes, the all-but-inevitable Trump decision to throw Musk under the bus is not something I’ve seen a lot of people discuss.
Musk is only a part of the problem, and Musk will have to lose another 110 billion before he even stops being the richest man in the world.
I’d love to see that happen but I’m not holding my breath. Meanwhile it does nothing but enrich powerful Disaster capitalists including Putin and his coterie.
Id be willing to bet that tesla is no bigger than 10% maximum of his worth. His big ones are space X that just chugs our tax money, and starlink, which I believe is being used as navigation in weapons systems being sold to nations. Tesla is effectively meaningless now.
I doubt that
Edit: Tesla’s market cap is now 722 billion, still making it more valuable than any company on this graph. We need to go much lower
Yeah that’s what a bubble looks like all right
looks more like a cancerous tumor9tesla) crowding out healthy tissue.
That is absolutely wild… I cant believe how much of the industry they are! Well thats great then! I was worried the death of tesla would be unfelt by elon.
He’s hit the level of wealth where he’ll never be poor. But he can be removed from “buy governments” money until such time as he can be held accountable for his actions
Politicians are whores, I really doubt you need more than a billion to own your own starting lineup.
I think you are wrong in the exact opposite direction, spaced just lost a 25 billion contract too
and they have bailouts just in case they cant actually make money.
That’s not enough
It’s a relatively small price to pay for the power they gained, and most of the losses are elons anyway
We need to keep pumping those numbers up
Acting like they have the billions as liquid cash is weird.
IF, and its a big if, they would start selling their assets in order to liquidate their stocks, the assets would nosedive in value to fucking hell. Most of their wealth is smoke and mirrors. Most of them spend money by borrowing cash against their assets.
Tax them so they have to lend or sell some assets to pay their fair share.
Those are rookie numbers! We’ve got to pump that number!
Yes, the more they lose the more we win.
PERSONAL AUSTERITY!!! SAVE YOUR MONEY AND LET THE RICH GO FUCK THEMSELVES!!!
You don’t win by them just losing some money. Redistribution is the name of the game. Even if Tesla hits 0/share, you aren’t getting any more wealth just by virtue of that happening.
…Aside from basking in the downfall of a nazi of course, but those are priceless things.
The win is the diminishment of his economical power. Same goes for Amazon and Meta. Transitioning off of any dependence of those websites and services will empower us and remove these shitheads’ influence.
Gotta start somewhere! Keep it going!
Numbers must go down! The Board requires it.
Good let’s make it another 200 billion EACH and even then that won’t be enough as they’ll all still have hundreds of billions of dollars which is absolutely insane
Unfortunately our own pensions and such are also getting wiped out by the same forces. And with less access to insider information.
These are the same billionaires that donated millions to the inauguration. How’s that RoI on bribery going techbros?
They deserve to lose so much more.
Looks like some dumbfucks made a bad investment in a rapist.
Not really. Comparative wealth of the entire USA is declining, the Billionaires are still on top. If Elon Musk loses 99% of his wealth he would still be a billionaire.
What this really means is that people around the world outside of the USA no longer view it as a stable investment.
Tbf, not all of them invested in his campaign though.
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.
Rookie numbers. Needs more.
So that’s what, about 5 minutes with of profits between them?
MOAR!
deleted by creator
Whisper it in my ear
^^they ^^lost ^^$209 ^^billion
