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Elon Musk, Jeff Bezos and other top earners have lost nearly $200 billion in 2022
Posted on 5/19/22 at 11:27 am
Posted on 5/19/22 at 11:27 am
quote:
The world’s biggest billionaires alone lost more than $40 billion as markets cratered on Wednesday, according to Bloomberg’s Billionaire’s Index, a daily ranking of the world’s wealthiest.
Still at the top of that list is Tesla’s TSLA, 1.53% chief executive officer, Elon Musk, who lost the most of 500 billionaires. Musk shed $12.3 billion of his personal fortune as the Dow Jones Industrial Average DJIA, -0.65% and S&P 500 SPX, -0.11% saw their worst days in two years.
quote:
Dry those crocodile tears, though as Musk is still worth $210 billion, even if he’s lost $60.4 billion so far this year.
Just behind Musk is Amazon.com AMZN, 1.62% founder and former CEOJeff Bezos, whose Wednesday losses came in at close second, with a $8.48 billion drop leaving his fortune at $131 billion. Amazon shares have lost 35% so far this year, taking a hit from last month’s first reported quarterly loss in seven years. Year-to-date, Bezos has lost $61.6 billion.
Number three on the most wealthy list, Bernard Arnault, chairman and chief executive of French luxury goods giant LVMH Moët Hennessy LVMH, -2.30%, lost $3.15 billion on Wednesday and has seen his fortune decline by $52 billion this year, to $126 billion.
Microsoft MSFT, 0.94% co-founder Bill Gates lost $2.19 billion on Wednesday and is $19.4 billion poorer for the year so far. His wealth stands at $119 billion, while Berkshire Hathaway’s BRK.A, -1.09% BRK.B, -0.92% chairman and CEO Warren Buffett saw $2.74 billion wiped off his fortune, though he’s gained $2.17 billion year-to-date. Buffet is presently worth $111 billion.
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Posted on 5/19/22 at 11:27 am to RLDSC FAN
quote:
Dow Jones Industrial Average DJIA, -0.65% and S&P 500 SPX, -0.11% saw their worst days in two years.
Posted on 5/19/22 at 11:28 am to goofball
Posted on 5/19/22 at 11:28 am to RLDSC FAN
Tax the poor more?
Posted on 5/19/22 at 11:30 am to RLDSC FAN
We need to tax those losses to pay for the universal healthcare that will finally allow me to weld deer antlers to my skull.
Posted on 5/19/22 at 11:30 am to RLDSC FAN
Ultra rich losing money and still being ultra rich.
Posted on 5/19/22 at 11:30 am to baldona
More aid to Ukraine!
Posted on 5/19/22 at 11:31 am to sledgehammer
quote:
More aid to Ukraine!
Posted on 5/19/22 at 11:39 am to RLDSC FAN
quote:
Bezos
Has yacht. Doesn't cares.
Posted on 5/19/22 at 11:47 am to RLDSC FAN
Bill Cuck Gates will still vote Dem.
Posted on 5/19/22 at 11:48 am to RLDSC FAN
Yeah i still don't get how they this works. They are worth 200 billion.
Okay tax that
You can't they don't really have 200 billion its in stocks.
But they can take out a loan against it to buy something else so we can tax that right
Nope its a loan it isn't really income.
they use more loans to buy shares that went up in value can we tax that.
Nope still not real money.
Well they didn't technically lose money so they should be fine. Ha yeah right when you get laid off make sure you give us that 30% of your last paycheck peace out.
Okay tax that
You can't they don't really have 200 billion its in stocks.
But they can take out a loan against it to buy something else so we can tax that right
Nope its a loan it isn't really income.
they use more loans to buy shares that went up in value can we tax that.
Nope still not real money.
Well they didn't technically lose money so they should be fine. Ha yeah right when you get laid off make sure you give us that 30% of your last paycheck peace out.
Posted on 5/19/22 at 11:55 am to RLDSC FAN
How did they do in 2020?
Posted on 5/19/22 at 12:01 pm to mindbreaker
quote:
Yeah i still don't get how they this works. They are worth 200 billion.
Okay tax that
You can't they don't really have 200 billion its in stocks.
But they can take out a loan against it to buy something else so we can tax that right
Nope its a loan it isn't really income.
they use more loans to buy shares that went up in value can we tax that.
Nope still not real money.
Elon gets paid in stock options and when he exercises he has to pay taxes, like he did last year when he ran up against expiration dates for some of them. It just takes awhile to play out because expiration dates can be years down the road.
Posted on 5/19/22 at 12:04 pm to mindbreaker
Take a lap Bozo
Posted on 5/19/22 at 12:04 pm to RLDSC FAN
They haven’t “lost” anything until they sell. It’s all paper movement and this mindset is what separates peasants from the rich.
Posted on 5/19/22 at 12:05 pm to RLDSC FAN
yes, i too am worried about billionaires.
Posted on 5/19/22 at 12:16 pm to Bluefin
quote:
We need to tax those losses to pay for the universal healthcare that will finally allow me to weld deer antlers to my skull.
Species identity disorder?
Posted on 5/19/22 at 12:18 pm to RLDSC FAN
Brandon will go down in history as the worst president ever.
#grandpawshitshispants
#grandpawshitshispants
Posted on 5/19/22 at 12:24 pm to RLDSC FAN
I bought AMZN and Tesla recently and have lost my a$$ on both stocks so far. The bad part is I ain't rich
This post was edited on 5/19/22 at 12:25 pm
Posted on 5/19/22 at 12:26 pm to dandyjohn
quote:
yes, i too am worried about billionaires.
Left wing populism is the lowest form of ideology. Its basically a declaration that you're uneducated.
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