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The World’s 25 Richest Billionaires Have Gained Nearly $255 Billion In Just Two Months
Posted on 5/27/20 at 6:58 am
Posted on 5/27/20 at 6:58 am
LINK
The one that really confuses me though
How does one, who’s wealth is in Casinos, actually increase his net worth in a time where casinos are closed to the public and have taken such a huge hit?
quote:
The super rich are a whole lot richer than they were two months ago. Twenty five of the wealthiest people on Forbes’ list of the world’s billionaires are worth a whopping $255 billion more than when the U.S. stock market hit a mid-pandemic low on March 23.
Together these 25 folks–Forbes looked at just those on the list with fortunes tied to public stocks–are worth nearly $1.5 trillion, which is about 16% of the total wealth held by the world's billionaires.
Facebook CEO Mark Zuckerberg is the biggest dollar gainer among this rarified group. Facebook shares surged nearly 60% over the past two months, hitting a record high on Friday May 22. Investors responded positively to the Wednesday debut of Shops, Facebook's effort to host digital storefronts for small business owners. Zuckerberg, now worth $86.5 billion, has become the fourth-richest person in the world, up from the No. 7 richest on Forbes’ 2020 list of the World’s Billionaires, published in early April. The 36-year-old is now richer than Warren Buffett, Inditex founder Amancio Ortega and Oracle cofounder Larry Ellison.
quote:
The second-largest gainer in dollar terms is also the world's richest man, Amazon founder and CEO Jeff Bezos. Shares of the ecommerce giant have continued on a tear amid increased demand since coronavirus shuttered physical retailers. Amazon stock is up 29% since March 23. As of the end of the day Friday, Bezos was worth $146.9 billion, up $30 billion and 26% since March 23.
The biggest percentage gainer is Colin Zheng Huang, the founder of China's second largest online marketplace (behind Alibaba), Pinduoduo. Boosted by the firm's social shopping model, in which users share purchases with friends and family, and an aggressive campaign offering subsidized deals to consumers, Pinduoduo's shares have nearly doubled since March 23, and Huang, its 40-year-old founder and CEO, has added $17.9 billion to his fortune; he's now China's third-richest person, worth $35.6 billion.
quote:
Another notable gainer: Mukesh Ambani, who became Asia's richest person in April after Facebook announced a $5.7 billion investment into Mumbai-based Reliance Jio, a telecom subsidiary of the sprawling conglomerate founded by Ambani's late father. The company has since raised loads more, including $1.5 billion from private equity giant KKR on Friday and $750 million from investment firm Silver Lake earlier this month. All told, the firm has raked in $10 billion of fresh capital in less than one month. Ambani is now worth $52.7 billion, up nearly $20 billion since the market trough.
The one that really confuses me though
quote:
24 | SHELDON ADELSON NET WORTH | $30.7 BILLION, UP $1.4 BILLION COUNTRY | UNITED STATES ?SOURCE OF WEALTH | CASINOS
How does one, who’s wealth is in Casinos, actually increase his net worth in a time where casinos are closed to the public and have taken such a huge hit?
17
Posted on 5/27/20 at 6:59 am to Mike da Tigah
quote:
How does one, who’s wealth is in Casinos, actually increase his net worth in a time where casinos are closed to the public and have taken such a huge hit?
Creative accounting
Posted on 5/27/20 at 7:00 am to Mike da Tigah
(no message)
This post was edited on 6/4/20 at 1:47 am
Posted on 5/27/20 at 7:05 am to bigblake
Good for those guys.
Posted on 5/27/20 at 7:07 am to Mike da Tigah
quote:
How does one, who’s wealth is in Casinos, actually increase his net worth in a time where casinos are closed to the public and have taken such a huge hit
The same way a lot of people did: stocks
If he had at least a couple hundred million given to a savvy manager, you could realistically see that gain.
The 2 months of wide swinging volatility combined the week or so of extremely discounted everything made for a lot of opportunities.
Expect the number of wealth gains to keep shooting up as intermediate term stock option contracts trigger
Personally I’m looking at having doubled my “play” portion of my portfolio where I feel comfortable participating in those shenanigans and I’m just an amateur.
This post was edited on 5/27/20 at 7:10 am
Posted on 5/27/20 at 7:08 am to Janky
Exactly
Meanwhile, on Mars......
Meanwhile, on Mars......
Posted on 5/27/20 at 7:10 am to Volvagia
I dont disagree, but that’s some very good investing considering the hit that casinos have taken to actually increase your net worth.
Posted on 5/27/20 at 7:11 am to Mike da Tigah
I'm obviously over-simplifying this to a great degree, but if you are a billionaire and you "bought the dip" like a lot of people did, it's almost a given that you did pretty damn well.
Us normal folk put in somewhere between 0-100,000 to buy the dip, these dudes (and chicks to be PC) bought the dip with millions and possibly billions. On a percentage basis we all probably did about the same, but in terms of real dollars they came out much further ahead because they "gambled" with much more than your average schmo.
Us normal folk put in somewhere between 0-100,000 to buy the dip, these dudes (and chicks to be PC) bought the dip with millions and possibly billions. On a percentage basis we all probably did about the same, but in terms of real dollars they came out much further ahead because they "gambled" with much more than your average schmo.
Posted on 5/27/20 at 7:14 am to Mike da Tigah
well, you paid for it.
Posted on 5/27/20 at 7:22 am to Mike da Tigah
Marty Byrde must be helping them....
Posted on 5/27/20 at 7:24 am to Mike da Tigah
quote:
How does one, who’s wealth is in Casinos, actually increase his net worth in a time where casinos are closed to the public and have taken such a huge hit?
Because they started these calculations when their wealth was at a low point over the last 24 months. This is like saying regular Joe’s wealth just tripled on payday. It’s only meant to rile people up. It also doesn’t mention how much money most of them have lost since the beginning of the year. Most of the richest have lost about 7-8% of their overall net worth since the beginning of the year.
Posted on 5/27/20 at 7:29 am to Mike da Tigah
quote:
I dont disagree, but that’s some very good investing considering the hit that casinos have taken to actually increase your net worth.
As I understand it, the bulk of this guy’s casino assets is owning the real estate/business itself.
Possible they haven’t reported valuations factoring in COVID-19 losses yet.
Hell, the mere building of just one of his holdings is around 8 billion.
This post was edited on 5/27/20 at 7:31 am
Posted on 5/27/20 at 7:40 am to Mike da Tigah
(no message)
This post was edited on 6/1/20 at 7:19 am
Posted on 5/27/20 at 7:46 am to bigblake
quote:
Their headline is a lot more shocking than the alternate, but same, headline: “People that lost a ton of money when the stock market crashed, got some of it back after it recovered!”
This is the right answer but that doesn’t sound nearly as sensational to the unthinking masses.
Posted on 5/27/20 at 7:59 am to Mike da Tigah
quote:
I dont disagree, but that’s some very good investing considering the hit that casinos have taken to actually increase your net worth.
Two months ago was March 27. That was near the bottom of the market.
Anyone who could afford it jumped on the buying opportunities and bid up the price. Someone with a large number of shares went along for the ride.
Posted on 5/27/20 at 8:02 am to Mike da Tigah
They're comparing their wealth to mid-pandemic low stock values. Stock market came back up, so did their wealth. Article is stupid and pointless, and misleading.
Posted on 5/27/20 at 8:06 am to Mike da Tigah
This tends to happen when the timeline begins at the market’s bottom.
Posted on 5/27/20 at 8:18 am to Mike da Tigah
He didn't get into the casino business by being honest.
Posted on 5/27/20 at 8:20 am to buckeye_vol
We’re about 2 months from the bottom of the market. Unless you’re the absolute worst investor or trader in history, your portfolio is up a good percentage in the past 60 days.
As others have mentioned the article and headline is pointless. I didn’t read the entire list, but I would point out that the stay at home orders are beneficial to many tech companies, and both Amazon and Facebook are currently trading at all time highs.
As others have mentioned the article and headline is pointless. I didn’t read the entire list, but I would point out that the stay at home orders are beneficial to many tech companies, and both Amazon and Facebook are currently trading at all time highs.
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