The ultra-wealthy just gained $49 trillion in wealth thanks to stocks

Comments

• originalfrozenbanana@lemm.ee ⁨3⁩ ⁨months⁩ ago

  They didn’t gain $49 trillion. Their total wealth is $49 trillion. Still terrible but the article’s headline is misleading.

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  • mozz@mbin.grits.dev ⁨3⁩ ⁨months⁩ 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

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    • originalfrozenbanana@lemm.ee ⁨3⁩ ⁨months⁩ 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

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  • technocrit@lemmy.dbzer0.com ⁨3⁩ ⁨months⁩ ago

    Yeah, they got 7% richer over the past year. That’s about $3-4b “gained” over one year.

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    • originalfrozenbanana@lemm.ee ⁨3⁩ ⁨months⁩ ago

      Trillion, not billion, but yeah

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• Sanctus@lemmy.world ⁨3⁩ ⁨months⁩ ago

  We should start a successful Occupy Wallstreet.

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  • Allonzee@lemmy.world ⁨3⁩ ⁨months⁩ 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.

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