This would have been a much better headline back when his net worth was “only” $40bn.
give it time
It’s all imaginary money that never existed in the first place. He lost nothing because he didn’t actually have anything to begin with.
Its imaginary yet can (try to) buy elections, private island visits, and absolute immunity from the law.
Hmm. Doesn’t seem imaginary to me.
He lost nothing
He lost a marginal amount of credit worthiness. $80B is twice the purchase price of Twitter, as a point of comparison. But it’s after a $400B bull run.
What he’s lost today is dwarfed by what he gained over the last ten years.
This just shows how dumb our entire world is … that a single man could win or lose so much imaginary money in a single moment, just because enough of us collectively willed it.
It’s another example of why I see modern finances, stock markets and ultra wealth as just our modern day religion.
It’s like ancient civilizations … Babylonians, Sumarians, Egyptians … we look back at their cultures and see them as backwards for believing in sun gods, god kings and divine entitlements
We’re doing the same thing, we just call it the ‘stock markets’, ‘investments’, ‘corporations’ … and it all only exists because enough of us believe in it. And just like the ancient cultures, if enough people stop believing in it … then it means nothing and it loses all its power.
Isn’t he supposedly a trillionaire these days? $80B is a good start, but it’s not nearly enough
Yeah the fact that this 80 billion dollar loss, which is larger than the GDP of a lot of countries, has zero effect on his quality of life is a pretty good indicator that the existence of billionaires is a danger to our economy and society.
Trillionaire loses $80B credit card in couch cushions. Nation celebrates as oligarch experiences rounding error shift in status.
Best part is rates and inflation keep going higher. Isn’t out yet and has been nerfed/massaged but CPI is well above 6% now.
lolRight? Now he can’t even afford to buy a 25th giga-yacht! What a loser. Lol!
Cybercuck.
80 billion? How on earth will he ever get by on the remaining $920,000,000,000 dollars?
The number is largely pinned to the market cap (stock price) of his stake in his publicly traded companies. That being said they can go much lower.
