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.
Guy making $8/hr: the economy is better now
Any day now eggs will go back to costing what they did in 1992…
I agree with this take. It’s like people have the grocery prices from when they first started living on their own seared into their brains.
what was that? like $4?
$0.80, something like that.
Dems for decades failed to properly address social inequality, while proudly parading their politically correct talk about “communities”, “affirmative action” etc. This is a feel-good talk for their white middle-class demographics, while actual people in actual “communities” felt like animals in a zoo with a bunch of aliens around them figuring out what’s the best name to call them. At the same time no meaningful change ever happened.
Trump won Latino votes in Miami. Just think about how much distrust the other side must have built.
Stop blaming the voters. Look into the mirror and ask yourself how could this have happened.
What’s really funny about Trump winning Latino votes in Florida is that when surveyed, they went Trump for “the economy”. So… my comment stands.
But yes as a Canadian, the results of the US election and the performance of the Democratic party are things I’ll personally need to “look in the mirror” about.
Alternatively, I can appreciate how dumb American voters are, as 70 million of them vote to actively make their lives much worse. <3
Just wait for the next elections to hit your country with a right-wing populism like a truck.
It’s the same shit all over the developed world. Looking down on people who are upset with the current system and the democracy itself.
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.
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.
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.
oh right. goodbye, biden’s billionaire tax.
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
$64bn so far.
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.
I’m waiting for it to trickle
Trickle on me daddy
Thank goodness, they were having such a rough time of it
Trickle down aaaaanny day now …
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?
$ 214 per person
And this is only to begin with.
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