edgemaster72 comments on lol

[–] edgemaster72@lemmy.world 22 points 20 hours ago (3 children)

Isn't he supposedly a trillionaire these days? $80B is a good start, but it's not nearly enough

[–] Freeposity@lemmy.world 40 points 20 hours ago* (1 child)

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.

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[–] frunch@lemmy.world 8 points 17 hours ago

Also proof they shouldn't exist in the first place. Money in certain denominations is simply too much to merely fund any personal expenses. You can buy a fancy house with millions. You create/upgrade city and state infrastructure with billions. The difference between a million and a billion is staggering. I'm not sure where the cap should exist, but i simply don't think any individual should have even 1 billion dollars.

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[–] MangoCats@feddit.it 8 points 13 hours ago*

Put together $765M in direct contributions, $40B loss in the Twitter-Xitter transmografication, call it $50B in total "investment".

In 2015 he was worth about $13B, today, after losses, he's worth in the neighborhood of $770B, that's a CAGR of around 45%, $50B "losses" while that kind of growth is happening is in the noise, one bad year, even losing 50%, when your growth rate has been a sustained 45% per year for 11 years - that's trivial.

Now: should these concentrations of wealth ever happen in the first place? Absolutely not, which is why he's "investing" so much in preserving the structures that allow it to exist at all.

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