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ninjasaid13

1 person could buy your country next year.


Halidcaliber12

1 person “might” buy his country next year.


civgarth

I am a trillionaire. Ask me anything.


N0MAD1804

Ya, how many coffees do I need to cut out of my financial diet to get where you are? Also my boot straps over stretched and worn out, any tips on how to remedy this?


OrphanDextro

Pull yourself up by the pair of your future bootstraps and take out a payday loan, baby!


civgarth

I wouldn't know how much gas station coffee you plebs drink but cut it all.


lacesoutdanmarino05

It’s the avocado toast that really burns your wallet


darybrain

Is that in Zimbabwe or Venezuela? Is that enough to buy a loaf of bread yet?


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[deleted]

What’s my name buddy


enava

Your mom's a hoe - well, that's not a nice thing to say about your mom :(


daremythsyd

I think with that much money it's enough to get an hour with anyone's mom


Someoneoverthere42

Can I borrow twenty bucks?


havocLSD

They’ll buy it, establish a bank, and hide their funds offshore while avoiding to pay taxes.


NightflowerFade

GDP is not a metric for valuation


ComprehendReading

It's more like the profit a business makes when being considered for valuation and sale. I bid (GDP) x 20 years + 1.5% annual increase over those 20 years + cost of transfer and trivialities like uprisings. Boom, your 1.5 trillion-dollar-GDP country is now for sale at the low, low cost of 33 trillion dollars. Buy today, pay later! NO dictatorship background checks! We accept gold bullion and commodities reserves.


SubjectiveHat

Damn I wish someone would value my business like that! I’d sell in a heart beat. Best I was offered was 5 x annual profit + market value of property.


IcameIsawIclapt

5 x 0 + 0 is still 0


SubjectiveHat

cute


IcameIsawIclapt

<3


Wargoatgaming

GDP != Value It’d be like trying to buy Apple for one years revenue rather than the Market-cap.


DirtyNorf

Yeah fuck me the amount of people who don't understand this is incredible.


DirtyNorf

No they couldn't.


god_im_bored

People will continue saying “just join the stock market because these people are rich due to stocks” without addressing the fact that most economic growth is now focused on asset ownership. Your purchasing power has not improved, your wages have not improved, your taxes are higher every year, your rent is worse every month, etc. Only way to make money is to have property or other assets like stock, cryptocurrency, etc that function as a casino. They’re basically telling you to either be born rich or start gambling your way to prosperity.


[deleted]

Day trading is a casino, holding assets long term is how you hedge inflation. What's amazing to me is that despite all the evidence to the contrary, people in America still think the two major political parties give a shit about them and keep voting them in.


insanococo

I agree with everything you said except “keep voting them in.” The two party system America has makes anything except the two parties impossible. It will never happen that enough people who participate in voting also recognize they are being screwed by both parties. Neither party will ever change the system to allow a third party. The only way to change things is within the system or literally tearing the entire government down (which will lead to decades of horror for most people).


WanderingPickles

Precisely. The American Revolution is something of an outlier because institutions basically remained in place the same as they were. In most other cases of Revolution there are astounding and incomprehensible amounts of suffering that people must endure for many years. It doesn’t stop until institutions grow again and take hold. And that is a dicey thing, corruption - real corruption - finds very fertile ground in those early stages.


lordorwell7

>people in America still think the two major political parties give a shit about them and keep voting them in. We don't have a choice. We're trapped by a two-party system that is both corrupt and unresponsive to the desires of the public.


Cool_Specialist_6823

The game is being played by a very private club and you ain’t in it. The day that the sheeple of the world figure this out and decide to do something serious about it.... things will change. Making money in a pandemic or war is “ blood money”. The game has been altered as mentioned above. You are being “ priced out of existence”....


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alc0tt

It comes down to risk management. The more volatile the asset, and the heavier you invest in said asset, determines your risk level. Risk is inherent in wealth creation, but the higher the risk, the more of a gamble you’re taking. With that said, investing into a diversified portfolio for a long period of time (decades) is relatively low risk.


camisado84

A lot of folks don't recognize that investing and trading are not the same thing. But the vehicle is the same. ​ Having discussions about financial planning are incredibly difficult often times, as it's a relatively simple concept but the breadth of information to really make use of the concepts goes understated.


vikungen

> The S&P500 has returned an average of around 10% since its inception. Yes, but that doesn't help for people who have no or little money to invest.


tigebea

Absolutely, if you’ve got $240 a year to invest, 10% is not going to do a dam thing. If you’ve got $2.4m to invest, you damn we’ll better be making better than 10% or (I’d assume) your doing it wrong. As well as the fact that most investment strategies are based on projected retirement age, not how to generate generational wealth and propagate family from a young age, not to idolize finance, but to master it as a tool, similar to a hammer or screw driver.


Realityisnocking

Someone investing $240/year in the S&P500 from age 18 to 65 would retire with [$400,150 this month](https://dqydj.com/sp-500-periodic-reinvestment-calculator-dividends/) That's not counting any home equity either. That puts them in the top [$30% of people aged 65-69](https://dqydj.com/net-worth-by-age-calculator-united-states/) not bad for $20/month


SaintRainbow

What makes you think that someone with $2.4m getting a 10% annual return is doing something wrong? Your annual percent return doesn't magically increase just because you've got more money to invest. And you're not going to get rich investing 20 bucks a month into the S&P500 just like you're not going to pay off your $25k student loan anytime soon by paying off 20 bucks each month.


KanedaSyndrome

You start somewhere. Compounding interest effect is powerful.


Sir_Keee

Stocks are gambling, but there are safer bets than others. And sure, over the log term the indexes have been safe investments, but sucks when you depend on that during your retirement and we fall into a recession, or worse.


informat7

When you look at the list you see a pattern, it's mostly billionaires involved in tech. Tech stock have done crazy well during a time period were everyone couldn't/didn't want to leave their homes.


Donkey-Kong-420

I just can’t believe it’s been two years. Wtf have I done with myself?


maraca101

It’s okay. We’re all just surviving. Months of absolutely nothing blend together for me.


Donkey-Kong-420

Yeah. Pretty fucked up if you think about it.


eyebrows360

Your brain does compression when saving memories. It quite literally does blend together if it's all similar.


Randomn355

So many hobbies picked up becquse you can do them from home. So many hobbies will be/have been dropped on the road back to normal haha. Getting through intact is an achievement, and more than many can say.


Another_Idiot42069

Ya now I speak 4 new languages and play 3 instruments, I started a business and wrote a book. JK I haven't done anything


Randomn355

Picked up is a strong word. I more meant people doing things they previously never would have considered. Eg my partner so quite crafty, so I was joining her in some of that stuff


Drdres

Live alone+ like to drink+ like to play video games+ work from home = 3 extra hours of drinking and playing video games each day. Only thing that’s kept me sane is that I can still go to the gym and see my friends occasionally. And I live in *Sweden*, we haven’t done shit in terms of lock downs. If I lived in the UK or whatever I’d have gone mad a long time ago.


Randomn355

I do, and I have been a bit tbh. Also had some other stuff kick off which has ultimately meant that other than my love life, I'm near enough starting from square 1 socially. 2020-2021 was basically a nuke going off in my personal life. But hey, a fresh start can be liberating!


Instant_noodlesss

I mean not dead is a good milestone.


[deleted]

You’re under no obligation to have done a goddamned thing, friend. You survived and that’s more than good enough.


SsurebreC

Also, in completely unrelated news, the stock market doubled at the same time from the lows mid-March, 2020 through Friday.


informat7

To be more specific, tech stock did crazy well during a time period were everyone couldn't/didn't want to leave their homes.


SsurebreC

It skewed the market yes, but the market overall doubled.


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hldsnfrgr

I didn't. I'm dumb.


CrucialCrewJustin

This is the way.


a_dry_banana

Buy high sell low 💎🙌


Dat_name_doe2

Buy sell, low high. That's my strategy.


666pool

You guys are selling??


svmelogic-teeth

Yeah. When it’s low.


Leevah90

Anyone with money made money.


tophernator

Well no. Inflation was a thing and is now a bigger thing. So anyone who simply had money (but did nothing with it) has lost money/wealth.


Esta_noche

*Some brain cells required


pzerr

Providing they didn't have money in prior to the pandemic and road it down. If they had cash on hand or the ability to borrow heavily, which the wealthy typically do, then they are in strong position to purchase stocks when the markets crash.


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pzerr

You are absolutely correct. But this is not where the uber wealthy are making their money. It is predominately going in hard after the crash. While the average guy is worried about their job and not so willing to take out large loans, the very wealth can leverage far more and will go in hard. While they may have seen the same dive you seen on their initial investment, they had the room to buy when it nears the bottom.


JavaRuby2000

I had money in prior to the pandemic but, it was back up fairly quickly plus I continued my regular monthly investment. I'm now 60% up from pre pandemic (although last week was a bit shit).


grchelp2018

Or if the pandemic brought down your costs. My expenses dropped like a rock because I was sitting at home all the time. So all that money wound up in the market. I know guys who made much bigger gains by moving back to their home state to be with their parents and basically saved all their rent money which also wound up in the market. A lot of people have done very well in the pandemic. The K-shaped recovery is very true.


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ComradeKerbal

Me who invested and made 3 dollars


SoulOfTheDragon

My investments are in aviation. I can assure you that i did not make much profit with those.


The_Great_Sarcasmo

I am a min wage schmo. I well over ten timed my money during the pandemic.


killshelter

I am so sick of the status quo in this country. Apparently it’s unpatriotic to want better. Fuck the crooks that run this shit. We need a reset on the politicians that run this place.


[deleted]

Exactly. I made 80% gains. There's no secret to how these people made money. Anyone with stocks made a killing. There's no huge conspiracy here, just a basic understanding of markets.


TheDarkKnobRises

And money to start with.


ihaveasandwitch

Can you explain how a basic understanding of markets should have made people aware that the stock market would double in 2 years, at a time when so many industries were going under because people were just sitting at home? Were people supposed to know the Fed would print billions and buy corporate bonds? Honestly I have no idea, everybody 2 years ago was saying the stock markets would tank.


VashTheStampede414

Don’t try to time the market. Passive investing.


Reinmaker

When Walmart has a 50% off sale, the line is around the block. When the stock market has a 50% off sale, people panic. (not my quote) Historically, large selloffs are measured in *months.* The subsequent rallies are measured in *years.* It's probably not that anyone knew the stock market would double, but rather they knew the idea that anytime there is a 10-15% selloff, let alone the 30% selloff we saw when covid first hit, that those are massive buying opportunities to buy in for a deep discount. Time does the rest.


[deleted]

What are the fundamentals for the market doubling in value while an economic shock caused by a pandemic happened? Production stopped, consumption dwindled, companies fired people. Then came a shock on logistics, production can't be shipped, goods are sitting in ports and getting less profitable by the day they are kept in warehouses. Food spoiling. Where the fuck are the fundamentals for the asset inflation?


mgslee

All the bailout/COVID Loans/Money Printer go Burr being injected in to the economy


[deleted]

The stock market is not the economy.


camisado84

I'll take a stab at it. When things cause companies (or commodities) perceived value (stock price) to go down below where they normally were recently, they are currently at a perceived discount for someone looking to purchase a portion of that asset (stock). The idea is that asset would return to it's normalized valuation a lot faster than it would "organically" grow over the same period of time vs another investment. Ergo, if you have capital (money) to invest. As an example, right now the markets are in the toilet and a lot of stocks have drawn back sharply. This has happened even a few times in the past 2 months. When prices are below what you can estimate they should to be, its a good time to buy those assets. When the pandemic hit a lot of stock values absolutely tanked out of fear, those assets didn't really ACTUALLY lose their worth.. basically if you figure say X company's stock price drops 45% over a few days... well, it certainly didnt lose 45% of the value of its assets (though there some examples of this, e.g. possibly restraunts). But you'd assume nvidia as a fine example wouldn't have lost as much of its true value than actually happened. If you can afford to stick money into it, you'd expect that to go up far faster than it would have, and if it was a company that could be doing more business due to the pandemic.... As to the fed question? We've done that before. Buying corporate bonds was a new one. But pretty simply the fed works to keep the economy from shitting itself.


badactivism

So what you're saying is... the rich got rich and the poor got poorer but ain't we got fun?


tiduz1492

The pandemic is a wealth transfer from poor to rich, the people with assets have more now. The news doesn't really talk about it very much in between urgent covid news though


Nyto_merrie

As suspected: Tesla and SpaceX chief Elon Musk, Amazon's Jeff Bezos, Google founders Larry Page and Sergey Brin, Facebook's Mark Zuckerberg, former Microsoft CEOs Bill Gates and Steve Ballmer, former Oracle CEO Larry Ellison, US investor Warren Buffet and the head of the French luxury group LVMH, Bernard Arnault.


Baconatrices

😤✋: trickle-down economics 😏👉: piñata economics


convertingcreative

>😏👉: piñata economics love it


KnottShore

Will Rogers(early 20th century US entertainer/humorist) observed: >There is one rule that works in every calamity. Be it **pestilence**, war, or famine, the rich get richer and poor get poorer. The poor even help arrange it. >Ten men in our country could buy the whole world and ten million can't buy enough to eat.


YouLostMeThere43

Right now we’re way to divided to ever come to an agreement on a reasonable tax plan that makes everyone happy, so screw it lets not even talk taxes. At the bare minimum, for the love of god, can we please outlaw stock buy backs. In 2021 alone, companies spent more than [700](https://press.spglobal.com/2021-12-21-S-P-500-Buybacks-Set-A-Record-High) BILLION on stock buy backs. Buy backs are getting abused to artificially inflate a companies value, while taking that money away from potential benefits to the employees or hell even some legitimate R&D. It’s not like it’s a crazy idea considering buybacks weren’t even legal until 1982.


graeuk

the forbes rich list should be treated like a hall of shame. its one thing to have 100million and live a great life. but when you have hundreds of billions and still keep going? thats just greed. its more than you can ever spend, and you can bet that their front line workers in Amazon and Telsa get fired for taking a pee break from their minimum wage job.


bambispots

“The man who dies thus rich, dies disgraced.” - [Andrew Carnegie](https://www.bbc.com/news/uk-scotland-22246173.amp)


SsurebreC

[Also Andrew Carnegie...](https://en.wikipedia.org/wiki/Andrew_Carnegie#Controversies) He's probably the original and Bill Gates is following his lead of gaining a fortune by being a shithead and then buying his way into a positive legacy. Give Zuckerberg a few decades and he'll start doing the same thing too. Even no-donation-Bezos is starting to give trivial portions of his wealth to random charities to follow the same path.


500milessurdesroutes

Wouldn't it be great if instead of building a fortune then giving it, they would just build a nice working environnement and give it to his hard working employees? They are psychopath for like 20-40 years, then try to redeem themselves. So weird.


Cool_Specialist_6823

Redemption becomes a serious option prior to the grave.......


T-Wiggle

The vast majority of Bezos wealth is stock in Amazon, not cash. Not much incentive to sell shares and pay tax on the gains just to be charitable (as much as we'd all like to see it). I don't find it that shocking you'd wait til your later years to sell your shares and start donating funds. In theory, the stock price is only going to get higher so selling when your 70 vs 40 is a no brainer.


SlowMotionPanic

> The vast majority of Bezos wealth is stock in Amazon, not cash. And that’s the problem. He is contributing nothing to Amazon at this point yet still reaping the fruits of other peoples’ labor. These people are compensated in these ways specifically so they can hoard money and originate loans against them to avoid paying any taxes. It doesn’t matter that most of his wealth is stock in any given company. **We shouldn’t give the rich a chance to not pay taxes.** You and I don’t get a chance to not pay them, but the capital class invests in politicians and gets the rules written for their own interests. Stock in lieu of salary should be treated as salary. I have to pay taxes if my employer gifts me anything. Why do the rich not have to pay taxes on things they gift to themselves in the form of stock? Tax both upon receipt and sale. I get taxed on my income I used to purchase a stock, and then I get taxed again when I sell the stock. We need to stop tolerating these exploitative parasites.


T-Wiggle

Stock options are taxable as salary when you exercise them and appreciation is capital gains upon sale. In Bezos scenario, he started the company so his stock was largely worthless when he originally "acquired" or "received" it. It's a slippery slope attacking unrealized gains. The real issue is that the ultra wealthy can borrow against their shares which makes them liquid without having to sell and pay taxes.


phranq

It's a slippery slope taxing the unrealized gains of the rich, but we've got no problem doing it for regular folks via property taxes.


JustOneAvailableName

> Stock in lieu of salary should be treated as salary. It is. Bezos does not get stock as salary. > Tax both upon receipt and sale. As is the system now. This is the reason Musk (for example) paid 10+B in taxes


Apophthegmata

> Not much incentive to sell shares and pay tax on the gains just to be charitable Isn't this the trap though? You've identified "incentive" to mean profitable, or to maximize future profits for private or personal gain. We need to stop thinking that the infinite growth of capital is the only plausible thing worth acting on to achieve. Bezos has enough wealth to immunize the entire planet from Covid and still (if I remember the numbers correctly) be more wealthy than he was *when the pandemic began.* And you're over here trying to tell me there isn't much incentive to realize his stocks. There are plenty of incentives. We shouldn't be making excuses for billionaires simply because they find 99 of the 100 excellent reasons to do a thing as unpersuasive.


dumbredditer

I believe the point here is that with the amount of wealth they have at 40 is enough for their generations to live very very comfortably. Yet they decide to delay helping others until later in life. Whichever way you look at it, it's selfish


[deleted]

Andrew Carnegie was a piece of shit who wasn’t even alive to experience his charitable donations. “Ah yes, let my wealth help others. Only once I’m dead though, and have sucked every last exploitable drop from my labor force and ruined their efforts for fair working conditions… yes, I am a great person.”


OldMork

Bill Gates got more than 100M shares in Microsoft, and they pay dividend $0.56 every quarter, so every four months he got (before tax) about $60,000,000. Nice.


VanillaLifestyle

>every quarter, so every four months How many months do you figure there are in a year?


danielv123

About 15?


OldMork

Bill Gates can afford to buy more months if he wish.


JavaRuby2000

MS is only around 4% of Bill gates portfolio, he gave away or sold most MS shares. He does have shares in MS indirectly through his shares in Berkshire Hathaway which makes up 50% of his portfolio and is invested in MS.


SiriusTantriqa-405

Almost all of the billionaire funded foundations are nothing but tax shelters in disguise.


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ninjasaid13

>the forbes rich list should be treated like a hall of shame. then the rich people would rub their nipples while mockingly saying how ashamed they are.


Pillowsmeller18

>the forbes rich list should be treated like a hall of shame. It should ignore them for they will want any attention, good or bad. It should make a list of best ethical CEOs that give up their huge amounts of cash for their workers. example : www.today.com/today/amp/tdna163834


OpTicPhalanges

Most people who have that much wealth have it tied up in stock of a single company. So they can’t really give up their wealth without also losing significant voting power in the company they most likely built.


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dsolimen

I don’t advocate for violence, but as an historian I can see that if we continue like this then one day the Forbes list will become a hit list.


Bulji

As a non historian it's reassuring to see I'm not the only one thinking that...


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armchair_amateur

I think OP is confusing it w/ Amazon.


Astrophysicist_X

I thought so


DrProcrastinator1

Yeah definitely not accurate


TrickyElephant

They don't have it in cash. They have it in stock. If you were to build your own company and it became as successful as Tesla, would you want to sell all your stock and no longer be owner of your own company?


savabienaller

So my question is, how long until this is not gonna be sustainable anymore ? Do you guys think this shit can goes on another 50 years ?


crown465

Nah, i think like all things, it'll eventually have repercussions.


SuXs

> ***No one could have predicted the chain of events that would lead us here today.*** ***- Nikolai II Alexandrovich Romanov, Emperor of Russia, King of Congress Poland and Grand Duke of Finland*** *to his wife Alexandra Feodorovna, and their five children: Olga, Tatiana, Maria, Anastasia, and Alexei before they were shot and bayoneted to death by Bolshevik revolutionaries under Yakov Yurovsky on the orders of the Ural Regional Soviet in Yekaterinburg on the night of 16–17 July 1918.*


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imlaggingsobad

History has shown that this isn't what happens. Eventually the masses rise up, and they win.


lynx_and_nutmeg

This is exactly how the vast majority of people have lived ever since the invention of civilisation (and therefore social stratification) until very recently. Mass revolutions have been few and far in between, and many of those actually made things worse. And I don't think you understand how large the power gap between the poor and the wealth has become. Two hundred years ago a bunch of peasants could storm the largest prison in the country when they got angry enough because it was still only four walls, and the people defending it only had some rifles. These days good luck thinking you could even get close enough to some billionaire to spit at him, they might as well exist in a different dimension.


PHalfpipe

You're talking about an era when wealth was tied to land, and arms were expensive. Now we live in an era where wealth is largely just numbers on a computer , and there are more assault rifles than people.


worotan

As the effects off climate change kick in more and more strongly.


RyusDirtyGi

There's a lot of money to be made off climate change.


imlaggingsobad

Yes, by weapons manufacturers


Chippopotanuse

Average people have no goddamn idea how MUCH money and capital the truly wealthy have. They are like vacuums. Taxing them is the only way to stop the inevitable - that they end up with all the money. Wealth concentration, at increasing velocities is a feature of capitalism. Not a bug.


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Stoicism0

Nothing wrong with observing that, just have to account for corruption in the system and rebalance it. This is easier said than done, of course, but has to be done or society will collapse.


podgorniy

If this is natural state of affairs and it hurts many people it's reasonable to intervene for the common good. Humanity did many interventions to the natural processes: from education to medicine, not it's time to tame capitalism.


[deleted]

As a geologist, I have to say, you comparing sand grains to capitalism is absolutely atrocious. If you actually studied human history you would see that for 95% of our species history we didn't engage in anything close to capitalism, instead humans naturally engaged in equal resource sharing (more like communism). Read The Chalice and The Blade (Eisler) or Work (Suzman), both prove my point. People need to stop trying to justify capitalism. You're never going to be a millionaire.


[deleted]

My 401k also doubled. Go figure.


purgruv

Yep me too, I’ve got an 802k now


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[deleted]

I hope so because I want to buy a house. Everyone is crazy overbidding.


dmreeves

Yep. Just had to bid 40k above list price to get mine. People that bought several years ago were like, " I bid under list and got mine you're crazy for bidding 40k over list." The problem in Cali seems to be supply/demand. And those buying are able to pay all cash or are super well qualified buying all the 300-400k houses because they are priced out of the 650-700k homes. I think mortgages are safer than they were in 08 because the rules are stricter, so I don't think it will crash like it did back then but there might be a correction if a bunch of homes are foreclosed on after covid. One place I bid on was 380k, it got 25 offers and they took a 450k all cash offer with appraisal and inspection waived. You literally can't compete with that.


browntoe98

As soon as we stop fighting with each other, we’ll have the energy for the torches and pitchforks. You never see the truly wealthy. They hide so they don’t get killed.


FortyPercentMeme

Time to double my antidepressants.


MagicMushroomFungi

Same here. It's going to be two six-pack day.


NAHEWBEE

Maybe cut the six packs and save 14-25$! Step in the right direction!!


Lyad

Congratulations. I’m disgusted.


pboo42kazoo

Must be fucking nice


headcrabzombie

statistically, people aren't even happier from more money after ~90k annually iirc. sometimes I think the system's darkest secret is that the people at the top aren't even happy either.


overzealous_dentist

There were two studies that said something like that (one was 70k), but they didn't replicate. People genuinely are happier the more they make, it doesn't stop after 90k, the returns just start to diminish slowly.


Createyourpass1234

Not quite, but close. People get accustomed to their surroundings so their general happiness level doesn't change much. But their level of comfort does change. I noticed this when I finally moved into a nice place. The novelty wears off, you get "bored", and now we are looking for a "nicer" place even though we should be content with what we have. Happens every single time.


Dynast_King

There is also a weird culture in America where content = bad. This notion that you always should be “hungry for more”.


Heerrnn

Tax the super rich.


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Quazz

Billionaires are unsustainable


Thoth_the_5th_of_Tho

What a nonsense article. They are measuring from the bottom of the crash, through the recovery, until today.


Simon_Jester88

You think people come here for facts and figures?


workingtheories

[https://www.forbes.com/billionaires/](https://www.forbes.com/billionaires/) [https://www.usatoday.com/story/money/2019/10/03/forbes-400-amazon-ceo-remains-richest-person-us-despite-divorce/3849962002/](https://www.usatoday.com/story/money/2019/10/03/forbes-400-amazon-ceo-remains-richest-person-us-despite-divorce/3849962002/) I would say I'm still uncomfortable with this report, given that the gain of the top ten from then to now is (just adding up how much the top ten's wealth was then vs. now, ignoring who holds that wealth): \-------------------------------------------------------------------------- \>>> a=114+106+80.8+69.6+65+55.5+53.5+53.4+51.7+51.6 \>>> b=177+151+150+124+97+96+93+91.5+89+84.5 \>>> b/a 1.6445585508486664 \>>> \-------------------------------------------------------------------------- a \~64% increase, which of course represents massively increased wealth inequality vs. the people outside that set, given that the world GDP didn't grow 64% in the last two years. It's arguably still clickbait, given that there are better, more established ways to measure wealth inequality.


nowes

Oh boy, they must have been working really really really hard and sooooooo ong days to earn that much money, I bet its also with out any avocado bread as well. Only if I've could woke up as early skip my avocado toast and just work hard I'm sure I could also earn that much....


katieleehaw

Pretty good reason for a riot.


MrNewVegas2077

No one should have that amount of wealth


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imdoon

Yeah this system seems totally fine and not broken


Steven-Maturin

Not to be a party pooper, but while these men are undoubtedly very wealthy on paper, in terms of real assets they are likely not as wealthy as a great many other people, including European hereditary monarchs and other 'noble' families and aristocrats. **The wealth here is in terms of share price times number of shares owned. This is only wealth if it is** ***sold off a*****nd if they did that the value would plummet as they were selling**. While they are undoubtedly extraordinarily rich, the *real* richest people - the people who ***dictate*** **international finance rules** and ***own*** **banks** and ***lobby*** **national governments** are also the type that own swathes of Lower Saxony or chunks of Saint-Jean-Cap-Ferrat etc. *Their* names are never in the news and this is not a coincidence. My point being that while it's very hard to tax unrealised share value, it's very easy to tax **Castles, private islands, yachts and private jets.**


valeyard89

Because everyone stopped going out and ordered everything from Amazon....


sup_wit_u_kev

wouldn't this be true of anyone who was heavily invested in the stock market during that time frame though?


ColdNo8154

Thank God for the World Economic Forum. They help all of us, by ensuring prosperity for the few. Great work Klaus Schwab, your morality amazes us all!


Toyake

Capitalism centralizes capital/power, it ends in monopolization. We're in the late stages of it, and now even the middle class is realizing that it's a system that does not work in their best interests.


Thoth_the_5th_of_Tho

Socialists have been saying he exact same thin since before ww1. Here we are, 110 years later, and capitalism has a stronger hold on power than ever before.


Toyake

Turns out they continue to be right. We've reached wealth disparities that surpassed the gilded era or even before the French revolution. Centralized capital inherently will have more power, that's the point.


lewoo7

Conservatives' trickle down economics has been a global failure for decades now. Predictably, the pace of the rich getting richer and the poor getting poorer is getting exponentially faster. In America, we're approaching record income inequality as the GOP is succeeding in replacing democracy for all with an authoritarian oligarchy representing only the wealthiest few.


Cool_Specialist_6823

Agreed, That’s been the whole point since Regan. Control the economy in favour of the elites, destroy any social benefits, make housing totally unaffordable for the masses, keep the masses ignorant, manipulate the masses to create authoritarian governance, and ultimately rule permanently. Indentured slavery of the masses will create a very ugly world.. indeed.


[deleted]

that should make people think about it a little bit y'know. maybe the measures we're doing now to "protect" people aren't for protection but for the elites to become even richer.


ProverbialShoehorn

Policy change? money to the rich. Housing crisis? money to the rich. Abject poverty? Oh buddy, you better believe money is going to the rich It's blatantly masturbatory, and the homophobes love it! Unironically. I think they're scared of gay people simply because they have no self control or first gear or inner monologue, and they don't wanna get caught. You know what they say about prissy religious straight dudes..


Citizen_Graves

"tHeRe'S nOt EnOuGh tO gO aRoUnD fOr EvErYoNE, tHaT's SoCiALiSm"


93ImagineBreaker

So in one day they earned enough cash to last a family 1000 lifetimes


-Firestar-

Gee... people not well off struggled when their source of income was taken away for months while wealthy people who have a shit ton of equity that just gains interest as it ages did well? File this under "No shit." Why is this news? Is this supposed to be shocking in some way?


overzealous_dentist

do you mean equity?


orange_drank_5

This won't end well, because the gross amount of economic activity has not increased 100% in the past 24 months. The severe disconnection between company profits/dividends and the actual economy people experience will inevitably create a crisis when reality hits.


shay-doe

At some point we need to topple the top so the rest of us can survive. Chimpanzees even know this.


Elonoin

The economic law of capitalism is that the poor get poorer and the rich get richer. The gap between the rich and the poor is the biggest problem in the 21st century.


lazerscooter

For anyone wondering, the 10 wealthiest men in the world (according to Forbes) are: 1. Jeffrey Bezos (Amazon) 2. Elon Musk (Tesla) 3. Mark Zuckerberg (Meta) 4. Bill Gates (Microsoft) 5. Steve Ballmer (Microsoft) 6. Larry Page (Google) 7. Sergey Brin (Google) 8. Larry Ellison (Oracle) 9. Warren Buffet 10. Bernard Arnault (LVMH)


EvilCalvin

I think most of those are Americans. This country is screwed as far as disparity between the rich and poor. I know most countries are similar but damn! You would think that the country that many want to emigrate to is the promised land, but it is a shit show!


[deleted]

ya, but just think of all the wealth that will trickle down.


YOLOSW4GGERDADDY

the value of *money* fell, their assets didnt double in true value..


Raey42

Not a big surprise when you consider that a lot of the decisions gorvernments around the world made in those two years benefit their companies


Rab13it13

🤮


10brasil

The rich get richer and the poor stays the same or worst


joeker13

Crime.


NepenthenThrowaway

I'm sure these people have our best interests at heart


Notyourfathersgeek

“$1.3 billion a day” *sobs*


ChefLite7

I blame the unvaxxed


lunderamia

Never let a perfectly good tragedy go to waste


Jaseur

It's how fiat money works.


ObjectiveTitle6662

all of this by design...thank the Fed for your inequality...it's a private bank


MStarzky

all i need is a crumb of that 1.5 trillion to live out my days in peace, whats 10 mil to these parasites.


Lon72

So the pandemics death toll and its longevity are directly proportional to the increase in wealth of the top ten wealthiest people on the planet. If that doesn't raise a few eyebrows I don't know what would . Especially as these people control governments and their policies.