this post was submitted on 11 Mar 2025
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Summary

Since Trump’s second-term inauguration, five top billionaires have lost a combined $209 billion as markets react to policy uncertainty.

  • Elon Musk’s net worth plunged $148 billion as Tesla shares collapsed amid declining European and Chinese sales.

  • Jeff Bezos lost $29 billion as Amazon stock fell 14%.

  • Sergey Brin’s fortune dropped $22 billion following Alphabet’s weak earnings and regulatory pressure.

  • Mark Zuckerberg and Bernard Arnault each lost $5 billion as Meta and LVMH stocks tumbled.

The S&P 500 is down 6.4%, reversing gains seen post-election.

Non-paywall link

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[–] futatorius@lemm.ee 1 points 6 days ago

They should be grateful their heads are still attached.

[–] expatriado@lemmy.world 145 points 1 week ago (3 children)

only meaningful if their stocks don't bounce back, but too soon to tell

[–] AbnormalHumanBeing@lemmy.abnormalbeings.space 74 points 1 week ago (2 children)

Also only meaningful if they can't buy up actual, tangible assets in the coming recessions, effectively converting their dead capital into more assets. (+ getting more state money for being "too big to fail")

[–] conditional_soup@lemm.ee 37 points 1 week ago* (last edited 1 week ago) (2 children)

No, they're gonna. It's exactly what happened last recession. The pain got offshored to the workers, and the people with assets used the moment to leverage their assets to buy more assets on the cheap.

[–] NeonNight@lemm.ee 21 points 1 week ago (2 children)

Yep, every time the US is in an economic low period, the top 1% snatch up swathes of assets for cheap. It’s how we went from 1 billionaire, to several, then several billionaires to hundreds in the last ~20 years

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[–] redlemace@lemmy.world 81 points 1 week ago (3 children)

So what? It's not like their bank accounts got affected. Their shares are valued less which means they did not loose money but the lost money they could have had.

[–] spankmonkey@lemmy.world 51 points 1 week ago (5 children)

They lost pretend money that could be used for business loans that they don't need because they have so much pretend money. The only time it matteds for these parasites is if it happens when they are acquiring another company worth billions of pretend monies.

Even a stock market collapse is a benefit to these chucklefucks.

[–] AbidanYre@lemmy.world 26 points 1 week ago

The only time it matters for them is when an Italian plumber shows up to collect their debt.

[–] henfredemars@infosec.pub 17 points 1 week ago (1 children)

Everything‘s on discount for them now! Time to buy up some cheap stock and failing businesses.

They win no matter what.

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[–] cultsuperstar@lemmy.world 65 points 1 week ago (2 children)
[–] ShaggySnacks@lemmy.myserv.one 18 points 1 week ago* (last edited 6 days ago) (3 children)

The Top 10 Richest Americans have a combined wealth total of $1,548 TRILLION.

$209 billion is only ~~0.13%~~ 13.5% of the of Top 10.

We need to get those numbers higher.

Edit: I suck at math, as it was pointed out to me

[–] BeardedGingerWonder@feddit.uk 8 points 1 week ago* (last edited 1 week ago) (1 children)

That doesn't stack up, Musk is the richest, currently worth $324Bn - they can't be worth more than $3.24Tn combined.

[–] ezmac@lemmy.world 8 points 1 week ago (2 children)

I think they replaced the period with a comma.

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[–] Cort@lemmy.world 17 points 1 week ago (1 children)

It's a relatively small price to pay for the power they gained, and most of the losses are elons anyway

[–] Zahille7@lemmy.world 8 points 1 week ago

We need to keep pumping those numbers up

[–] JacksonLamb@lemmy.world 64 points 1 week ago* (last edited 1 week ago) (2 children)

Coverage like this makes me feel sad.

Do people honestly not realise that billionaires always enrich themselves during recessions?

This is all going to plan for oligarchs. People celebrating it are naive unfortunately.

[–] kameecoding@lemmy.world 10 points 1 week ago (13 children)

I would say most of it is meaningless other than Elon and specifically Tesla, Tesla stock prices plumetting will remove most of the power from Elon in the future, even Trump might turn on him once his main thing his net worth evaporates

[–] ivanafterall@lemmy.world 8 points 1 week ago

Yes, the all-but-inevitable Trump decision to throw Musk under the bus is not something I've seen a lot of people discuss.

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[–] octopus_ink@slrpnk.net 55 points 1 week ago

Daily Reminder:

[–] axh@lemmy.world 44 points 1 week ago (4 children)

Those are rookie numbers! We've got to pump that number!

[–] buddascrayon@lemmy.world 10 points 1 week ago (2 children)

Yes, the more they lose the more we win.

PERSONAL AUSTERITY!!!! SAVE YOUR MONEY AND LET THE RICH GO FUCK THEMSELVES!!!

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[–] painfulasterisk1@lemmy.ml 9 points 1 week ago

We have to Trump those numbers.

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[–] teslasaur@lemmy.world 41 points 1 week ago* (last edited 1 week ago) (7 children)

Acting like they have the billions as liquid cash is weird.

IF, and its a big if, they would start selling their assets in order to liquidate their stocks, the assets would nosedive in value to fucking hell. Most of their wealth is smoke and mirrors. Most of them spend money by borrowing cash against their assets.

Tax them so they have to lend or sell some assets to pay their fair share.

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[–] circuitfarmer@lemmy.sdf.org 31 points 1 week ago (1 children)

A good start. It takes much more to fix this problem, though.

[–] Phoenicianpirate@lemm.ee 22 points 1 week ago

Them losing billions is meaningless. Don't for this: if you had 1 billion dollars, and you lost 99% of it, you still have 10 million dollars, which is more than what most people will ever have.

Their entire industries need to be nationalized and ALL their assets seized.

[–] MiDaBa@lemmy.ml 30 points 1 week ago
[–] WorldsDumbestMan@lemmy.today 24 points 1 week ago (2 children)

How do you screw both the rich and poor at the same time?

[–] Lemminary@lemmy.world 12 points 1 week ago* (last edited 1 week ago)

Sheer incompetence. Whenever he says "I'm the only one who can..." I hear "I have no fucking clue how to even begin doing this".

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[–] ReallyActuallyFrankenstein@lemmynsfw.com 23 points 1 week ago* (last edited 1 week ago) (1 children)

It remains to be seen if their kissing the ring was strategic or just tactical (apart from Musk, who is committed), but what they've bought wasn't a good economy. They bought into the transition from democracy and capitalism to authoritarian oligarchy.

Dollars don't describe the value of Russia-level corruption, which is where the country is now pointed. And the longer-term gains from captured institutions would far outpace a hundred billion dollars or two, if they succeed.

[–] DokPsy@lemmy.world 17 points 1 week ago* (last edited 1 week ago) (1 children)

Small but important point. We've been an oligarchy for a while now. We're just losing the pretense of it being a democracy.

Technically we’ve been an oligarchy since day 1. It just didn’t have oligarchy vibes.

[–] maplebar@lemmy.world 19 points 1 week ago

They deserve to lose so much more.

[–] LonstedBrowryBased@lemm.ee 19 points 1 week ago (2 children)

Good let’s make it another 200 billion EACH and even then that won’t be enough as they’ll all still have hundreds of billions of dollars which is absolutely insane

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[–] circledot@feddit.org 18 points 1 week ago
[–] limer@lemmy.dbzer0.com 16 points 1 week ago

Comparing my net worth to that total net worth? I’d be upset, but not terribly so, if I lost $1000 too.

But since I would be getting it back later, and then some, it’s more like a small investment only . Definitely worth the small risk,

[–] merdaverse@lemmy.world 16 points 1 week ago

These are the same billionaires that donated millions to the inauguration. How's that RoI on bribery going techbros?

[–] BradleyUffner@lemmy.world 15 points 1 week ago* (last edited 1 week ago)

So that's what, about 5 minutes with of profits between them?

[–] Melatonin@lemmy.dbzer0.com 14 points 1 week ago

THERE'S THREE AND A HALF YEARS TO GO. THEY'RE PLAYING THE LONG GAME.

THEY AREN'T UPSET. THEY'RE GETTING EVERYTHING THEY WANT.

[–] RememberTheApollo_@lemmy.world 14 points 1 week ago

Ridiculous how some people pander, especially the press, to the billionaire set.

When they have a downturn in net worth people say they “lost” money, or are “poorer” even though they’re still worth billions.

But when they’re making money hand over fist, millions of dollars daily, people act like that money doesn’t exist. “Oh, it’s tied up in investments, you can’t tax it…It’s not income! It’s not in their bank account.”

Always the poor billionaires; perpetually simultaneously unable to touch their money, complaining when they lose money they ”don’t have,” and living like billionaires with all the conspicuous consumption that goes with it.

[–] DarkFuture@lemmy.world 13 points 1 week ago (2 children)

Looks like some dumbfucks made a bad investment in a rapist.

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[–] venotic@kbin.melroy.org 13 points 1 week ago

But to them this is winning, right? Anything to "own the libs" that they so hate. There's no such thing as failing, there's only failing forwards.

[–] j0ester@lemmy.world 12 points 1 week ago

Rookie numbers. Needs more.

[–] missandry351 10 points 1 week ago

Oh ok, that’s sad, let me shed a few tears here before I go back to be exploited by the rich 😹😹😹😹😹😹😹😹

[–] underfreyja@lemmy.world 9 points 1 week ago (2 children)
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[–] Acemod@lemmy.world 9 points 1 week ago (1 children)
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[–] Dotcom@lemmy.ml 8 points 1 week ago

I can’t help but feel like this was some sort of Monkey’s paw situation. “I wish there weren’t any billionaires”

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