Elon Musk and Mark Zuckerberg increased their net worth by $96.6 billion and $58.9 billion, respectively, thanks to rising share prices on the Nasdaq

Elon Musk and Mark Zuckerberg increased their net worth by $96.6 billion and $58.9 billion, respectively, thanks to rising share prices on the Nasdaq

    • Smoogy@kbin.social
      13·
      1 year ago

      There’s no good reason for that level of hoarding beyond need. Waste of the use of money. If there’s enough money to feed everyone and we can’t, there’s something wrong here.

      • justhach@lemmy.worldEnglish
        2·
        1 year ago

        Once someone hits $999,999,999.99, we should give them a trophy that says “Congrats, you win capitalism” and then banish send them to an island prison paradise where they are hunted for sport all their needs are met, 24h a day.

  • carbonprop@lemmy.caEnglish
    19·
    1 year ago

    They could have instead made 852,000 new millionaires or 8.52 million people could have a cool $100,000 to save for retirement or pay off debt. But the rich get richer.

  • Steeve@lemmy.caEnglish
    172·
    1 year ago

    Didn’t their total wealth drop significantly last year because FB and TSLA stock absolutely tanked? So their wealth is only up so much because it was down more and the market is on it’s way back up.

    By all means eat the rich and all that, but this doesn’t paint an honest picture for anyone who doesn’t follow the stock market.

    • 1019throw@lemmy.worldEnglish
      61·
      1 year ago

      I didn’t read the article, just the headline, but both can be true. They lost money but made a ton again. It’s no different than someone losing a huge amount in a 401k but then having even more money in the future by not selling and the market going back up.

    • JackbyDev@programming.devEnglish
      2·
      1 year ago

      Yeah, unopened the post and it’s just “due to riding NASDAQ prices” and it’s like okay. Basically just like saying my wealth increased because house prices rose. It’s not a lie or anything but the title imies there was a change of assets rather than a change of valuation of assets.

  • el_cordoba@lemmy.worldEnglish
    14·
    1 year ago

    I am convinced I’d be a terrible rich asshole. I’d never be able to hold on to that much money considering how fucked up the world is. That said, I have a conscience. Lacking one seems to be a prerequisite.

    • justhach@lemmy.worldEnglish
      16·
      1 year ago

      Hoarding wealth is like any other form.of hoarding. Its a mental illness.

      If there was a monkey in the jungle somewhere who had stockpiled enough bananas, through killing other monkeys or other exploitative means, to last a thousand lifetimes and refused to share any, we would study that monkey like crazy to figure out WTF is going on there.

      When a person does it and someone points out that its fucked, we say that the person pointing it out is just jealous, and if they only worked harder, they too could be sitting on a banana fortune.