Trump’s victory adds record $64bn to wealth of richest top 10
Trump’s victory adds record $64bn to wealth of richest top 10
Share surge increases Elon Musk’s fortune by $26bn in a day as Jeff Bezos, Sergey Brin and Bill Gates also benefit
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.
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.
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.
Good, these poor poor billionaires need more. I mean it's a goddamn travesty they aren't trillionares!
Geez people how fucking greedy do you need to be to accept a paycheck from these people when working for them? Can't you just be charitable for once and help them become decillionares?
I swear we're so greedy.
This is what the American people voted for. They voted to give their money away to people who don't need it.
We've been warning people of this for more than 8 years now, trying to soften the blow. At some point we gotta realize that protecting these people might not actually be helping, it might just be enabling the grift by providing convenient cover.
Maybe we ought to just step aside and let these voters suffer the full consequences of their actions. Democrats need to learn that unlike them, many people only learn about consequences by experiencing them.
Sure, many others who voted against will suffer the consequences too. What are we going to do about it? This is how democracy is designed to work.
oh right. goodbye, biden's billionaire tax.
$64bn so far.
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
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.
Trickle down aaaaanny day now ....
Keep pulling and the rope is gonna break, sooner or later
Thank goodness, they were having such a rough time of it
On the stock markets (worldwide) it felt like someone held back the whole time and then started investing large sums.
I also immediatelty scrapped all my plans about buying US stock. Everything has to be reevaluated 😕
Maybe I'll have to reconsider my Taiwan investments, too.
Berkshire Hathaway had built up $300B in cash reserves - maybe Warren decided it was time to buy?
Makes sense. You'd want to hold back on buying until the market becomes clearer.
And this is only to begin with.
Elon looks like one of the pointing soyjaks in that pic.
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).
Must be nice...
It was a mad jump in the markets and it still holding