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World’s five richest men double their money as poorest get poorer
(www.theguardian.com)
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this post was submitted on 15 Jan 2024
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That's the neat part. When you're rich you can make as many mistakes as you want, and you'll still be rich.
Yep money keeps making money
Lost more money than anyone ever has ever and is still the richest human alive. Howzat for fucked
They don't even lose money. Those huge figures that keep changing are literally imaginary. For example, let's say I have company and I make it publicly traded. I keep 100 shares and sell 100 shares for a dollar each. some guy buys 1 then sells it to someone else for $10. Now I have $1000 because each share is valued at $10 now. A few days later some other guys sells his 1 share for $5. Now I have $500 and I've lost half my money overnight. And during all this up 1000% down 50% advanture only $115 changed hands. There has never been a 1000 or even 500 dolars.
If I wanted to sell. my 100 shares when it was 10 a piece I wouldn't be able to do so, because as soon as I start selling shares on mass it would lose its value. But I can show it as collateral and get credit from a bank. I didn't create any value but now I have lots of cash. The more I think about it the more pissed of I get.