Oxfam predicts first trillionaire within a decade, with gap between rich and poor likely to increase
  • CobblerScholar@lemmy.world
    362·
    10 months ago

    How about we stop calling it their fucking money. It’s inconceivable that someone can look at what has got to be at least 50% of all wealth ever made by humankind and say, “this is mine and just mine”. That isn’t what sane rational people think

  • Sasha@lemmy.blahaj.zone
    17·
    10 months ago

    How many more years of these news stories do I have to read before we actually do something about this?

    I’m so fucking sick of this happening constantly.

    • fmstrat@lemmy.nowsci.comEnglish
      5·
      10 months ago

      We have to stop voting for rich or wanna-be-rich business people. It’s the only way. Combined votes for the best of the worst to eliminate the tyrants, then vote out the wealth focused. Can’t believe that’s the situation we are in.

      • ɔiƚoxɘup@infosec.pub
        1·
        10 months ago

        Voting alone will not get us out of this situation. Maybe implementing rank choice of voting might do it. I just don’t see good solutions because the politicians were all about sold anyway it doesn’t matter which one gets voted in, voters never get the final say.

  • DozensOfDonner@mander.xyz
    9·
    10 months ago

    Wait Musk is still such a strong first place? I thought with twitter bombing, people starting to dislike Tesla, general weird behavior, he was losing quite a bit? I’m probably way out of touch but isn’t someone catching uo to him?

    • Patches@sh.itjust.works
      16·
      10 months ago

      That’s the neat part. When you’re rich you can make as many mistakes as you want, and you’ll still be rich.

        • kureta@lemmy.ml
          2·
          10 months ago

          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.

    • sushibowl@feddit.nl
      2·
      10 months ago

      Tesla shares constitute something like 70% of Elon’s total fortune. Twitter is overall not that relevant for his big picture wealth, and weird behavior even less so.

      At the moment Tesla’s stock price is in decline because of competition from China and the overall EV market not growing as fast, so Bezos or somebody else could indeed overtake Musk in the near term. But this could easily change again next month, the stock market is fickle.

      • Asafum@feddit.nl
        21·
        10 months ago

        It so cool that you can buy your way into an existing company that already had talent and an idea, and then become among the richest people in the world…

        Wait sorry, Hard Work™©® yeah… That’s what he did… Hard Work…

        • skulblaka@startrek.website
          2·
          10 months ago

          Oh there was hard work involved. His daddy’s emerald mine money worked very hard to get him where he is. And the slaves in those mines worked very hard to build daddy’s money.

  • bedrooms@kbin.social
    3·
    10 months ago

    Rich assets grow exponentially. They will exceed government budgets if they haven’t yet. Then, they will have far bigger budget than governments.

    Maybe the world will all become North Korea.

    • GoofSchmoofer@lemmy.world
      1·
      10 months ago

      This is such a good visualization of big numbers and big bank accounts.

      It’s also a good way to really see the bull shit argument that it’s unfair to tax the wealthy at a higher rate. Even if they get taxed at 90% (which I don’t think will happen in my lifetime) they still will have enough money for them and their decedents to live a lavish lifestyle. And that extra money could really make America into the country that it pretends to be.

      • prole@sh.itjust.worksEnglish
        1·
        10 months ago

        Also, the “taxed at 90%” is a red herring too, since that’s not how progressive tax brackets work. Nobody’s effective tax rate would be close to 90%, even if we raised the top marginal rate to nearly 100%.

    • GluWu@lemm.ee
      01·
      10 months ago

      Yes, but I wouldn’t eat a rich person. All the chemicals and drugs in the meat. Gross. We need to just cull the rich.