They should be grateful their heads are still attached.
this post was submitted on 11 Mar 2025
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Ridiculous how some people pander, especially the press, to the billionaire set.
When they have a downturn in net worth people say they “lost” money, or are “poorer” even though they’re still worth billions.
But when they’re making money hand over fist, millions of dollars daily, people act like that money doesn’t exist. “Oh, it’s tied up in investments, you can’t tax it…It’s not income! It’s not in their bank account.”
Always the poor billionaires; perpetually simultaneously unable to touch their money, complaining when they lose money they ”don’t have,” and living like billionaires with all the conspicuous consumption that goes with it.
Couldn't have happened to a better group of guillotine dodgers.
Daily Reminder:
That's not enough
The Top 10 Richest Americans have a combined wealth total of $1,548 TRILLION.
$209 billion is only ~~0.13%~~ 13.5% of the of Top 10.
We need to get those numbers higher.
Edit: I suck at math, as it was pointed out to me
You seem to have forgotten to multiply by 100 after you divided 209 by 1,548.
209 is 13.5% of 1,548, not 0.13%.
Edit: It is a bit disturbing how many people upvote things without making even the most basic sanity check.
That doesn't stack up, Musk is the richest, currently worth $324Bn - they can't be worth more than $3.24Tn combined.
I think they replaced the period with a comma.
The %s are all out of whack too, it's more like 13%, which, while not enough, is a lot more than 0.13%.
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It's a relatively small price to pay for the power they gained, and most of the losses are elons anyway
We need to keep pumping those numbers up
Billionaires remembering why they were supporting the covert right winger Democrats instead of the Republicans. Because a veneer of illusion is needed to keep their empire running.
I'm sure they still have plenty of liquid assets to scoop up discounted stocks. Tax cuts will save conglomerates money, which they'll use for stock buybacks to inflate the worth of their stocks, which had already been picked up by the billionaires. This will reinflate their net worth.
Plus, and I don't know how or when this would be involved in the calculation of their net worth, but they're probably shorting stocks with insider info passed around Mar-a-Lago. Just a guess.
They'll be fine. The rest of us will continue to be screwed even harder. Fuck them billionaires.
As Kendrick Lamar would say “it’s not enough”
Good. Since they drive their wealth from using the value of their stocks as leverage to get loans, having these stocks collapse will not only make their loans smaller (not sure by how much), but they will have to pay using more of their dividends than what they expected
In short, they will get less money and it will cost them more to pay it back.
Acting like they have the billions as liquid cash is weird.
IF, and its a big if, they would start selling their assets in order to liquidate their stocks, the assets would nosedive in value to fucking hell. Most of their wealth is smoke and mirrors. Most of them spend money by borrowing cash against their assets.
Tax them so they have to lend or sell some assets to pay their fair share.
It’s pretty common knowledge how these billionaires leverage the value of their stocks/assets as collateral against loans, in order to avoid having to pay capital gains tax.
Even though it’s not liquid cash, there really isn’t much to preclude them from taking out cash loans up to like 70-80% of their value if they ever wanted to (not that they would, as cash depreciates in value due to inflation).
So while you are correct that if they ever had to liquidate their shares the value would plummet significantly - unless something catastrophic happens and the value of those assets plunges well below an acceptable level to their financiers, it will never happen.
If you owe the bank a $100 and can’t pay it back, that’s your problem. If you owe the bank $100m, that’s their problem.
I think we might be nearing a catastrophic economic collapse. It will be interesting to see how these billionaires react.
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only meaningful if their stocks don't bounce back, but too soon to tell
Also only meaningful if they can't buy up actual, tangible assets in the coming recessions, effectively converting their dead capital into more assets. (+ getting more state money for being "too big to fail")
No, they're gonna. It's exactly what happened last recession. The pain got offshored to the workers, and the people with assets used the moment to leverage their assets to buy more assets on the cheap.
Yep, every time the US is in an economic low period, the top 1% snatch up swathes of assets for cheap. It’s how we went from 1 billionaire, to several, then several billionaires to hundreds in the last ~20 years
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Coverage like this makes me feel sad.
Do people honestly not realise that billionaires always enrich themselves during recessions?
This is all going to plan for oligarchs. People celebrating it are naive unfortunately.
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How do you screw both the rich and poor at the same time?
Sheer incompetence. Whenever he says "I'm the only one who can..." I hear "I have no fucking clue how to even begin doing this".
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THERE'S THREE AND A HALF YEARS TO GO. THEY'RE PLAYING THE LONG GAME.
THEY AREN'T UPSET. THEY'RE GETTING EVERYTHING THEY WANT.
Good let’s make it another 200 billion EACH and even then that won’t be enough as they’ll all still have hundreds of billions of dollars which is absolutely insane
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When someone has this much money, it doesn't matter if they buy the presidency, buy the media, buy the means to live, buy people's rights... It doesn't matter. They will never get the respect and love they desperately seek like all humans do. They will never love themselves until they understand that their wealth isn't earned and they aren't special. We don't consider ourselves better than anyone as a human and then not get depressed and lonely. It's not difficult for us to accept kinship with all humans, but almost impossible for them.
Rookie numbers. Needs more.
So what? It's not like their bank accounts got affected. Their shares are valued less which means they did not loose money but the lost money they could have had.
They lost pretend money that could be used for business loans that they don't need because they have so much pretend money. The only time it matteds for these parasites is if it happens when they are acquiring another company worth billions of pretend monies.
Even a stock market collapse is a benefit to these chucklefucks.
The only time it matters for them is when an Italian plumber shows up to collect their debt.
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These are the same billionaires that donated millions to the inauguration. How's that RoI on bribery going techbros?
Whisper it in my ear
^^they ^^lost ^^$209 ^^billion
🥵 That's hot. Not nearly enough, but still great news
They deserve to lose so much more.
Oh ok, that’s sad, let me shed a few tears here before I go back to be exploited by the rich 😹😹😹😹😹😹😹😹
A good start. It takes much more to fix this problem, though.
Them losing billions is meaningless. Don't for this: if you had 1 billion dollars, and you lost 99% of it, you still have 10 million dollars, which is more than what most people will ever have.
Their entire industries need to be nationalized and ALL their assets seized.
lol
and the American retirees who depend on their savings lost trillions to these idiots. A majority of those retirees voted conservative, but I feel bad for the ones who didnt.
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So that's what, about 5 minutes with of profits between them?
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