There’s no good reason for that level of hoarding beyond need. Waste of the use of money.

Related: poor are more food insecure and savings amounts decreased

They have won life. Give them a Medal, then take away all they have so they can start a NewLife+

I don't want to eat Elon Musk's flabby ass. I propose we just "beat" the rich, so that they're afraid to walk around in public.

Welcome to the revolution.

Much easier to just protest the rich and take our money back

That's pretty much what eat the rich means lol

Difference is you think it can be done simply by not spending our money with them, when in reality, like others have pointed out, they've not only made that not matter (because they can get more money anyway), and left us no choice (we can't all run off and live in the woods, and if we're not spending our money on one billionaire's products, we're spending it on another's), but they also have the police as their guard dogs, as well as governments who control militaries under their thumb, not to mention their own private militias and defences and bunkers and all that jazz.

So the only way it actually can be done (protesting the rich and getting our money back, that is), because they have left us no choice, is by force - 'When the people shall have nothing more to eat, they will eat the rich'

They don’t need to sell to realize gains - they take out loans against the stock value from banks for almost no interest. If they choose to, they could get large amounts of that paper gain in liquid cash through just a handful of steps.

I have mixed feelings about measuring their wealth based on share prices because they couldn’t sell their shares without tanking the price, right?

Technically this is true, but remember that the wealthy can borrow money backed up by their stocks, so no: they couldn't sell those stocks without tanking the price, but yes: they have access to even more money because of this.

I think you're exactly right. Social media is just the first thing we should be federating. Next should be farming, manufacturing, timber, construction, shipping, sales, and energy. If we crowdsource our solutions while using logic and algorithms to enforce quality control, we can exceed efficiency of the greedy ruling class and share profits among everyone who contributes so contributor ever faces starvation or living on the streets.

The billionaires can hoarde all the resources they want. If the masses stop contributing to their system, they will find that endless consumption is not as competitive as true justice and fairness.

Shhh… this is Lemmy

I didn't read the article, just the headline, but both can be true. They lost money but made a ton again. It's no different than someone losing a huge amount in a 401k but then having even more money in the future by not selling and the market going back up.

Yeah, unopened the post and it's just "due to riding NASDAQ prices" and it's like okay. Basically just like saying my wealth increased because house prices rose. It's not a lie or anything but the title imies there was a change of assets rather than a change of valuation of assets.

Next time, eat the rich.

Eat beans?

Hoarding wealth is like any other form.of hoarding. Its a mental illness.

If there was a monkey in the jungle somewhere who had stockpiled enough bananas, through killing other monkeys or other exploitative means, to last a thousand lifetimes and refused to share any, we would study that monkey like crazy to figure out WTF is going on there.

When a person does it and someone points out that its fucked, we say that the person pointing it out is just jealous, and if they only worked harder, they too could be sitting on a banana fortune.

Pretty sure he could buy 10+ twitters by now, that cesspool's real value must have crashed hard since his acquisition

He can buy Reddit at this rate...