well it’s worse than that becase most of those houses and other assets were bought for the most part from loans taken out at very low interest rates against the stock he has in his company’s and other shares in his portfolio . The stocks on whole give better return than that interest rate. So it’s free money they can spend an they don’t even have to sell their stock and pay taxes on the returns just the dividends at a way lower rate that any working person. the way this is setup it becomes impossible for him to spend money fast enough for him to actually lose more money than he gained.
Comment on And you will never catch up as Bezos make 8,000,000 per hour
LoreleiSankTheShip@lemmy.ml 1 day agoHe’d still have a lot of property to his name, a lot of other assets and stuff that aren’t tied to an arbitrary stock market. Even if you crash it, mansions and luxury cars would still be very valuable. He will never not be a billionaire due to that.
That is, unless you redistribute his wealth. Then yeah, he wouldn’t be filthy rich anymore.
lordnikon@lemmy.world 1 day ago
viking@infosec.pub 1 day ago
As long as the loans aren’t paid off though, running the stock into the ground would result in margin calls. An empire built on borrowed money with loans secured only through the value of the empire itself can be a fragile construct.
lordnikon@lemmy.world 1 day ago
yep why do you think they freak out so much when the market drops and post shit online to inflate stock emerald mine dipshit Xboy is famous for that kind of shit.
Flax_vert@feddit.uk 1 day ago
And the vast amount of web storage customers
Sanctus@lemmy.world 1 day ago
Very true, but you have to be able to sell those assets to gain from them. If the stock market is erased you can’t sell your yacht to another exploiter because their networth is decimated too and they can no longer borrow off anything but physical assets, and now they also have a massive “income” stream that is now down so borrowing is more risky. We coulda had a bad bitch of a society, instead we let the rich turn us all into Mammon zombies.