Comment on Economcial, Billionaires are the biggest threat to the free market
truthfultemporarily@feddit.org 5 weeks ago
I’m not a fan of billionaires but you are fundamentally incorrect. And it is very unhelpful to be incorrect in this case because people will be able to dismiss your argument easily.
They don’t have a billion on their bank account. They own companies worth that much.
Every warehouse, truck, robot and server that Amazon owns counts towards Bezos wealth. You cannot “reinvest” all of that because the company requires it to function.
MNByChoice@midwest.social 5 weeks ago
Close. Bezos has is wealth from the stock value of Amazon. Amazon’s stock value is loosely tied to assets of the company, but strongly tied to expected growth of profits. Additionally, it trades at a high multiple of current profits.
A company may have few assets and a large stock valuation (the stock price multiplied by number of stock shares outstanding).