We should start a successful Occupy Wallstreet.
The ultra-wealthy just gained $49 trillion in wealth thanks to stocks
Submitted 1 month ago by return2ozma@lemmy.world to aboringdystopia@lemmy.world
https://www.cnbc.com/2024/07/19/population-ultra-high-net-worth-wealth.html
Comments
Sanctus@lemmy.world 1 month ago
Allonzee@lemmy.world 1 month ago
As someone who participated in the last, maybe shut down any fellow peasants who try to insult and/or mock the next one.
There’s nothing more demoralizing than being attacked by the people you’re desperately trying to help.
originalfrozenbanana@lemm.ee 1 month ago
They didn’t gain $49 trillion. Their total wealth is $49 trillion. Still terrible but the article’s headline is misleading.
mozz@mbin.grits.dev 1 month ago
Yes
Nobody will say they lost $49 trillion if stock go down next week
They cannot get $49 trillion out of the market by selling all their stocks
It's just a weird misleading framing
originalfrozenbanana@lemm.ee 1 month ago
I guess the difference there is that the wealthy can take out loans and secure assets like houses against their stocks but yes the stock market isn’t real
technocrit@lemmy.dbzer0.com 1 month ago
Yeah, they got 7% richer over the past year. That’s about $3-4b “gained” over one year.
originalfrozenbanana@lemm.ee 1 month ago
Trillion, not billion, but yeah