The wealth of the 10 richest people in the world – a list dominated by US tech billionaires – increased by a record amount after Donald Trump’s victory in the presidential election, according to a widely cited index.
The Bloomberg Billionaires Index estimated that the world’s 10 wealthiest people gained nearly $64bn (about £49.5bn) on Wednesday, the largest daily increase since the index began in 2012.
Elon Musk, the world’s richest person, registered the largest increase with a $26.5bn addition to his fortune, which now stands at $290bn. The prominent backer of Trump’s campaign, benefited from a surge in the share price of Tesla, the electric carmaker where he is chief executive and in which he owns a 13% stake.
Thank goodness, they were having such a rough time of it
We’re just being kicked while we’re already down. The idiots who voted for him don’t realize they’re in the ground with us.
Must be nice…
Because of course it fucking did.
$ 214 per person
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Trickle down aaaaanny day now …
Surely, now everyone will be hiring for all kinds of jobs and competing fiercely for who pays the best and offers the sweetest benefits, across all industries… Right? :D
/s
:(
So Musk’s investment in election interference of what, a million bucks a day? towards bribing people to vote now looks like an utter pittance relative to what he made back in just one day.
Of course these guys know that investing in elections has a good ROI.
For added perspective: spending a million as a billionaire is the same as spending $1 when you have $1000 in your bank account.
It is utterly meaningless.
Especially if you did it only 45 times or so at $45 invested and got $26,500 back a day after the election
Thats the problem with Anarchy is they have resources and you don’t so in open warfare they win every time.
You could try to form a large organization pooling resources for a specialized fighting force but…
Oh look, half of the USA just voted alongside the Billionaires. Looks like we’re outnumbered.
Meh it only takes one person pulling a trigger to end a billionaire’s life. Not that I am advocating that, but there is no real way to protect themselves from the masses unless they go hide in a bunker.
We’re at 5 and counting potential Donald Trump assassins thwarted so far. Thats at least 500% over estimate, yikes.
Elon Musk probably isn’t that much easier of a target, I’m sure he pays good money to be guarded, but maybe.
One kid with no help or formal training almost blew his head off. They are way more vulnerable than you can imagine.
600,000 people diagnosed with terminal cancer each year in the US. 800 billionaires. Just saying, they will likely die before they even get sentenced. And it’s entirely likely the billionaires own or supported companies that caused that cancer in the first place, or supported medical systems that didn’t allow people to properly be screened or treated for cancer.
It’s like if Walter White wanted to help others
Akumetsu.
Total net worth of top 10 richest is ~$1.6 trillion: https://ceoworld.biz/2024/03/15/richest-people-in-the-united-states-2024/
That makes a net worth increase of $64 billion an increase of ~4%…which is the same amount the S&P 500 is up over the past few days.
“Stock market surges following Trump’s victory and billionares’ stocks go up the same amount as everyone else’s” just doesn’t make as good a headline, huh?
This is a big pile of nothing, nice job taking the clickbait and spreading it. The outrage farmers thank you.
The cool thing is, my statement still works no matter how much or how little their net worth increases. Billionaires should not exist. The world would be better without them.
Billionaires should not exist.
You’re going to have to come to grips with the fact that there is always going to be someone with the most wealth. And in an economy that is constantly creating new wealth, the peak will also be constantly growing.
This is an incredibly naive and ignorant sentiment.
If you truly believe that it is naive or ignorant to have a problem with any individual hoarding so much wealth that they could solve just about any problem where money is the limitation while still living like a king and having a fortune to pass down to their children, then I don’t think we can have a meaningful conversation.
If you truly believe that it is naive or ignorant to have a problem with any individual hoarding
Well, here’s an example of the ignorance I was referring to: no billionaire is “hoarding” anything. Their net worth comes from the value of their investments, investments into businesses that function within the economy. And investing into a business, and in turn owning a piece of it, is absolutely not “hoarding” that piece. To define it that way would be to define that owning anything equals “hoarding” it.
Ownership and hoarding are not the same thing. The fact that I have something you don’t doesn’t mean I’m “hoarding” it. That is a ridiculous notion.
so much wealth that they could solve just about any problem where money is the limitation
You have zero perspective on just how costly those problems are, nor the fact that there is almost no major problem that an injection of funds can fix all by itself.
The US government spends more each and every year than the net worth of every US billionaire combined. Over $1 trillion (which is ONE THOUSAND TIMES the amount of wealth that ‘qualifies’ someone as a billionaire) was spent last year on welfare programs alone.
It’s just not as much as you think it is, in the grand scheme of things.
I don’t think we can have a meaningful conversation.
Until you become more familiar with the facts of the matter, I definitely agree.
$64bn so far.
I don’t see in the article what percentage of this increased ‘value’ was actually spent on stocks. It seems such a house of cards to say the unrealised value of retained holdings is worth anything like the figure you get if applying the most recent trade’s value to all existing shares. A value beyond a percentage of the company’s assets and projected yield makes for a pretty risky game of hot potato for anyone buying in at the end and the potential for ridiculously overblown paper losses for anyone who got in at the start of the pyramid scheme with knock-on effects that propagate out to the real economy through the contagion of doomsaying. Bonds are a far more transparent way of raising funds and incentivise productive endeavours with good fundamentals as the company needs to pay from profits rather than offloading rewards to the system of finding another sucker (which can happen with bonds as well if sold before maturity in the belief that the issuer will be unable to fulfill their promise).
I’m waiting for it to trickle
Trickle on me daddy
What are you talking about? We’ve been getting trickled on for years now. Oh wait that’s piss.
Don’t worry. It will trickle down any day now.
Like piss, right?
Right?
That’s where that comes from, yes.
Like being on level 250 of the Platform.
I was about to tell you about this movie called El Hoyo that was similar to your comment and then I realized we’re talking about the same thing I just watched it in Spanish. lol
Piss trickling down on us would be an improvement
I guess it’s slightly better than the old “Horse and Sparrow” name which implies “Eat shit and like it”.
And this is only to begin with.
Elon looks like one of the pointing soyjaks in that pic.
