Summary
Since Trump’s second-term inauguration, five top billionaires have lost a combined $209 billion as markets react to policy uncertainty.
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Elon Musk’s net worth plunged $148 billion as Tesla shares collapsed amid declining European and Chinese sales.
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Jeff Bezos lost $29 billion as Amazon stock fell 14%.
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Sergey Brin’s fortune dropped $22 billion following Alphabet’s weak earnings and regulatory pressure.
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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.
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”)
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.
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
These companies will absolutely use these things as excuses to replace workers with AI chatbots.
Very similar to what happened just before the “collapse” of the Soviet Union, which seems to be Trump’s aspiration. It had turned into a free-for-all.