Billionaire Losses since Trump
Billionaire Losses since Trump
56 comments
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So are you trying to convince me that Trump is actually a good president?
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he's for the people
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The great equalizer.
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And the Tesla stock is still massively overinflated.
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The loss is mostly even to the gains after trump was elected. It shot up like 80% after the election and is now back down to its October level, and it's not like the October level was sane.
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Data is ugly: this does not contextualize gains made in the tail end of the election and upto the inauguration. This miscommunicates the harm done to them. The economical harm must grow.
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Also although this is nice to see. It’s alongside average American person having serious financial compression. Everyone above still has billions of dollars. They don’t care. The average American is deciding between food, rent, heat or meds right now. As I see a lot of “FAFO” I see this getting a lot worse through the summer where energy prices will surge.
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Seriously, TSLA is still at the same level as it was on November 5.
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Basically there was a completely un justified bubble in the past few months, driving it up to double what it was worth for years.
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Tesla was always an unjustified bubble. Even after these losses it has a market cap of ~800B compared to Toyota at 295B. Despite Toyota selling 10.8 million vehicles to Teslas 1.8 million last year. Assuming similar profit per vehicle tesla should be worth ~50B, assuming 3 times the profit, tesla should still max out at ~150B. There's a long way to drop yet.
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Sad fact, though, is that these guys can’t lose money without everybody also being affected by it. Except for maybe Tesla, since it is easy to just not be invested in that bullshit. I imagine Amazon just goes up and down with the rest of the economy.
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I look at this and all I can think is "we can do better".
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and we will. we just started
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Touching grass isn’t enough. I need bad things to happen to evil men in power.
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Short term losses let's see how they fare in the long run since it seems we are blazing the way into a cyberpunk future.
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Now that you mention it this infographic would look right at home in any dystopia movie.
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Sigh, Trump will just pump tax payer money into them during the recession...
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The world does not need (should not have) billionaires. When you have a couple of millions, it's enough to last you a lifetime.
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Like, you get a golden crown in exchange for the extra wealth, like, congratulations like, good job, like, amazing.
Now go retire on an island of something.
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In which fairy tale world do you live that a couple of millions is enough to last a lifetime? Can't even buy a house here with a couple of mil... And then you're forgetting about the inflation. A couple of mil is nothing.
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Is most of the world a fairy tale to you?
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'few million".
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Housing markets are over inflated because billionaires are the ones buying up and driving up prices.
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I'm gonna do a morris dance for more losses. Let's bankrupt them all before the summer solstice.
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Now show us wealth changes for Russian oligarchs since he took power.
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Almost 50% of a company's worth gone in 2 months. Tesla really is leading the race.
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Ahw yes. Bleed those fuckers dry.
I fear this will only be temporary. I really hope this trend continues.
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Finish him!
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These are rookie numbers! We need to pump them up!!!
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trump is secretly a socialist trying to redistribute wealth! :O
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critical support to comrade trump! /s
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How is he redistributing wealth exactly? I'll tell you how: all the poors will panic sell their shares now (you can see loads of comments to sell on Lemmy), the rich will bulk buy them at discount, wait for a few years and will cash out record high dividends increasing the wealth gap much further.
The economical ignorance of a typical Lemmy user is just mind blowing... I mean, do you people have any school level education at least?
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You love to see it.
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Good.
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Losing all the money they made during Obama & Biden administration.
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Love it! Keep on Keeping On!
56 comments