The top 20 tech billionaires globally have lost $480B+ on paper in the past year; Mark Zuckerberg's wealth drops by $87B+, Elon Musk and Jeff Bezos by $58B+
Moguls including Mark Zuckerberg and Jeff Bezos have collectively lost more on paper than the market values of most S&P 500 companies
Fed rate hikes weaken the labor market but also hammer the asset prices of the very rich. One of my pet theories is broad land use reform would, by raising equilibrium interest rates, secure the egalitarian benefit without the labor market cost. https://www.wsj.com/...
we live in a society where a guy can lose $100 billion and still be a multimultibillionaire richer than pretty much every other human https://www.bloomberg.com/...
MyPOV: paper value has significantly dropped The 20 richest tech billionaires have collectively lost nearly half a trillion dollars this year, which is more than the market values of all but seven companies in the S&P 500 https://www.wsj.com/...