Billionaires keep losing billions of dollars why poverty rate is increasing - page 2.

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Quote from: Johnlomape on January 29, 2023, 10:49:46 AM

I am always skeptical why billionaires are always losing huge amount of money in days while people are suffering. Last time I read in a new that Elon Musk loses upto 4 billions in just few hours and the other time he made close or more than that in days. Money that would be very hard for an employee or middle class business owners to make in a year.

If we take a look on the news we will see that billionaires loses upto 2 trillions dollar last year and this January we had been hearing about several loses from some of the world billionaires.

Last year I heard that Jeff Bezos loses up to 80 billion dollars and Mark Zuckerberg also loses close to that amount which is enough to allivate poverty from a continent. The cause of their lose is best known to them but I think the funds should have been used to help the poor rather than allowing the money to vanish in a thin air.

I have seen so many programs fro the masses especially to aid those that are in need. Some of these aid organisations do seek for donations from individuals, companies that are ready to help with funds. When we have billionaires losing huge amount of money every year, why not they use those money to help the poor rather than losing them

In many ways this wealth is an illusion, the total value of some of these companies is what all the individuals in the market think a single share is worth multiplied by the quantity that have been issued. However that value is constantly changing and if faith is lost in a company for whatever reason, it can disappear like the illusion it was. Elon's arrogance, self interest and now highly political viewpoints being spammed on places like Twitter have done huge damage to his net worth because his ego needs feeding. He (and many other shareholders) lost their money because they did not sell out during the peak time in their company valuation, but even if they started to sell it would have indicated to others to sell as well and push the price down in a vicious spiral.

Fiatless

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Quote from: stompix on January 29, 2023, 12:51:16 PM

Quote from: Johnlomape on January 29, 2023, 10:49:46 AM

Last year I heard that Jeff Bezos loses up to 80 billion dollars and Mark Zuckerberg also loses close to that amount which is enough to allivate poverty from a continent.

Alivitate poverty on a continent?
Let's assume both o them lost 80 billion, let's throw in MUsk with 80 billion, and let's round it up to 250 billion, let's divide this to the whole of Africa and you have one insane paycheck of 200$ , that's one time 200$ and that's it. Do you think you can do so something with that?
Besides, it's just money in assets value at that sum, if would start selling them they would end with 3-4 times maybe less in overall value so let's not even go thee.

Besides here is a new thought for you.
Bitcoiner owners lost between March and November 600 billion! Wink

Quote from: Johnlomape on January 29, 2023, 10:49:46 AM

When we have billionaires losing huge amount of money every year, why not they use those money to help the poor rather than losing them

For that, you first need to learn how the economy and how the stock market works, from what I reed I feel tempered to assume you thought Bezos put 80 billion in a wallet and lost it while scuba diving.

Alleviating poverty might not necessarily mean sharing money or giving people cash. What it might mean is to create platforms where these people can be employed or acquire skills that would be beneficial to them. It could also mean assisting them to get better health services, good infrastructures or even quality education. I know Bill and Melinda Foundation is doing a lot of humanitarian work in Africa which has empowered the people.

As for these billionaires, they are not always satisfied with the wealth they have acquired. most of them only care about how to make more money and not how to empower the people.

mindrust

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When you get that big, billions become like thousands.

Elon probably isn't losing anything. His wealth was always on paper anyway. Let's say his TSLA shares used to be worth $10 billion. This don't mean anything unless he converts these shares to FIAT. Till then, he don't really owns $10billion. He only owns $10b worth of TSLA shares. His shares' dollar value might go down but he still has the same amount of shares. TSLA shares is just an example. You can think of any other asset he owns instead.

People don't really understand these CEO's aren't as rich as people think they are. There isn't enough liquidity in the markets to fill their sell orders if Zuck or Elon decided to dump their shares. The markets would just crash.

teosanru

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Quote from: Johnlomape on January 29, 2023, 10:49:46 AM

I am always skeptical why billionaires are always losing huge amount of money in days while people are suffering. Last time I read in a new that Elon Musk loses upto 4 billions in just few hours and the other time he made close or more than that in days. Money that would be very hard for an employee or middle class business owners to make in a year.

If we take a look on the news we will see that billionaires loses upto 2 trillions dollar last year and this January we had been hearing about several loses from some of the world billionaires.

Last year I heard that Jeff Bezos loses up to 80 billion dollars and Mark Zuckerberg also loses close to that amount which is enough to allivate poverty from a continent. The cause of their lose is best known to them but I think the funds should have been used to help the poor rather than allowing the money to vanish in a thin air.

I have seen so many programs fro the masses especially to aid those that are in need. Some of these aid organisations do seek for donations from individuals, companies that are ready to help with funds. When we have billionaires losing huge amount of money every year, why not they use those money to help the poor rather than losing them

Haha the value of these losses is not realised loss. I'll tell you how it works. Most of the wealth that these people carry is in form of assets. Like Elon Musk has shared of Tesla and Jeff has shared of Amazon, it's the price of these shares which went so high and they had so much of them that they reached at top richest billionaires list. Now they don't actually have this money in liquid form which means if they were to sell it they might fetch a much lower value infact they selling this might in itself reduce the value of these shares a lot. So when you see that someone lost 4 Billion dollars it's not that they gambled last night and lost it, actually the price of the share went down which reduces their wealth it was anyways not hard cash money so it can't be used to alleviate poverty.

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Ponder upon this - wealthy folks parting with colossal sums of money might raise eyebrows, especially when weighed against global impoverishment. Yet, it's crucial to recognize that these individuals amassed their fortunes through diverse avenues and, hence, hold the liberty to spend it as they desire. Be mindful that many among them, the billionaires of the world, channel their resources towards non-profit entities and engage in philanthropy, thereby serving society.

Quite a few billionaires have exhibited largesse towards charities. Take for instance, Jeff Bezos, who committed an astounding $10 billion to combat the crisis of climate change. Or Elon Musk, who has shelled out millions for various causes. Mark Zuckerberg and his wife, Priscilla Chan, via the Chan Zuckerberg Initiative, pledged to give away 99% of their Facebook shares to charitable causes during their lifetime.

Without a doubt, we ought to extend our hand to help those in need. Yet, passing judgments on the expenditure habits of others might prove to be counterproductive and unjust. Let's focus on making a difference, rather than dissecting differences.

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Quote from: Johnlomape on January 29, 2023, 10:49:46 AM

-cut-
When we have billionaires losing huge amount of money every year, why not they use those money to help the poor rather than losing them

How can you give money you just lost to anyone? And it's not like you knew you are going to lose it beforehand. And if he doesn't sell the bottom he most likely make insanely much more in the bullrun again.

Better question would be just "why doesn't elon just give money to charity". And he has said he does it anonymously. I am not saying i believe him but it wouldn't be that weird if he spoke the truth, and i don't even like the guy.

And he has given it publicly as well, guite big sums actually: https://fortune.com/2022/02/15/elon-musk-5-7-billion-donation-weeks-after-asking-un-world-hunger/
Skeptics would say he is doing this to get tax cuts, which he obviously gets, but i think that was the single most coolest thing i've seen Elon done ever. And still elon makes me cringe when he tries to convince people he knows what he is talking about.

adaseb

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The way that a billionaire's wealth is calculated is far from accurate. If Elon owns 10% of all the Tesla shares out there. And Tesla has a market cap of $1 Trillion, it would mean his net worth on his shares is $100Billion. However keep in mind that is only based on the last traded price.

In a bear market there is no way Elon could sell $100B worth of shares without causing the price to drop. Which is what happened when he needed to sell shares to buy twitter. His selling caused price to drop by half. So he started with $100B and sold a few Billions and his net worth became less than $50B with only a few Billions sold. Hence why you should sell little by little in a bull market and never in a bear market.

cydrix

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Quote from: Johnlomape on January 29, 2023, 10:49:46 AM

I am always skeptical why billionaires are always losing huge amount of money in days while people are suffering. Last time I read in a new that Elon Musk loses upto 4 billions in just few hours and the other time he made close or more than that in days. Money that would be very hard for an employee or middle class business owners to make in a year.

If we take a look on the news we will see that billionaires loses upto 2 trillions dollar last year and this January we had been hearing about several loses from some of the world billionaires.

Last year I heard that Jeff Bezos loses up to 80 billion dollars and Mark Zuckerberg also loses close to that amount which is enough to allivate poverty from a continent. The cause of their lose is best known to them but I think the funds should have been used to help the poor rather than allowing the money to vanish in a thin air.

I have seen so many programs fro the masses especially to aid those that are in need. Some of these aid organisations do seek for donations from individuals, companies that are ready to help with funds. When we have billionaires losing huge amount of money every year, why not they use those money to help the poor rather than losing them

The loss of wealth by billionaires and the rising poverty rate are most likely the result of a variety of interconnected issues, including economic inequality, global economic conditions, and government policies. In other circumstances, billionaires' wealth may be linked to specific businesses or markets that are performing poorly, resulting in losses. Poverty, on the other hand, can worsen as a result of factors such as unemployment, inflation, and a lack of access to education and healthcare. Don't judge billionaire's money because it isn't yours.

stompix

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Quote from: Johnlomape on January 29, 2023, 10:49:46 AM

Last year I heard that Jeff Bezos loses up to 80 billion dollars and Mark Zuckerberg also loses close to that amount which is enough to allivate poverty from a continent.

Alivitate poverty on a continent?
Let's assume both of them lost 80 billion, let's throw in Musk with 80 billion, and let's round it up to 250 billion, let's divide this to the whole of Africa and you have one insane paycheck of 200$ , that's one time 200$ and that's it. Do you think you can do so something with that?
Besides, it's just money in assets value at that sum, if would start selling them they would end with 3-4 times maybe less in overall value so let's not even go there.

Besides here is a new thought for you.
Bitcoiner owners lost between March and November 600 billion! Wink

Quote from: Johnlomape on January 29, 2023, 10:49:46 AM

When we have billionaires losing huge amount of money every year, why not they use those money to help the poor rather than losing them

For that, you first need to learn how the economy and how the stock market works, from what I read I feel tempered to assume you thought Bezos put 80 billion in a wallet and lost it while scuba diving.

Chrlie95

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Billionaires' wealth is not equivalent to the actual cash they have, but rather a reflection of the value of the assets they own. When the value of these assets, such as stocks, falls, it can appear as a loss, but it doesn't necessarily mean the money has gone anywhere. The money is still tied up in assets, but the valuation has changed.

Captain Corporate

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Exactly because of what Dickiy said. There is no money, its value. So Elon Musk never "had" 300 billion dollars, it was his assets that worth that much but he never had it. If you think that those people "losing" billions means there was some money somewhere and now it moved and now its somewhere else, that's not true. It was just valuation, and that's why it dropped. If you want something similar in bitcoin, if NOBODY buys any more bitcoin, that would drop the price, nobody bought, so money never exchanged hands, but the price went up, so you lost value, meaning you are holding the same amount of bitcoin and yet have less money. Same thing, but with stocks instead.

Dickiy

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In my opinion, why can it be said that a loss of billions or trillions of dollars is because the wealth he owns is the result of the accumulation of asset prices that he owns, such as shares which when the price drops it will be called a loss, we know that the Tesla company owned by Elon Musk's share price has fallen It started drastically when he sold his shares and bought Twitter, many investors sold Tesla shares too and the remaining shares decreased to the point of being called a loss.
So it's not because the money is gone or anything, but the assets they own have fallen in price, so that the wealth they have isn't real money but the total value of all assets.

Johnlomape

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I am always skeptical why billionaires are always losing huge amount of money in days while people are suffering. Last time I read in a new that Elon Musk loses upto 4 billions in just few hours and the other time he made close or more than that in days. Money that would be very hard for an employee or middle class business owners to make in a year.

If we take a look on the news we will see that billionaires loses upto 2 trillions dollar last year and this January we had been hearing about several loses from some of the world billionaires.

Last year I heard that Jeff Bezos loses up to 80 billion dollars and Mark Zuckerberg also loses close to that amount which is enough to allivate poverty from a continent. The cause of their lose is best known to them but I think the funds should have been used to help the poor rather than allowing the money to vanish in a thin air.

I have seen so many programs fro the masses especially to aid those that are in need. Some of these aid organisations do seek for donations from individuals, companies that are ready to help with funds. When we have billionaires losing huge amount of money every year, why not they use those money to help the poor rather than losing them

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