It will trickle down any second now
It will trickle down any second now
145 comments
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On Elon Musk, it's funny because he never put a profit, like tesla isn't the biggest, X is draining money, his robotics shits are just that: shit, only spacex is relatively successfull, but it's not on the same level of half trillion dollars.
There isn't much that he's done, all of his companies are making less profits (or losing more money if i'm being correct), he is just a jake paul that fakes being a fake intelligent person.
Edit: Deleted my edit, i'm drunk
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Yeah, its ironic. The richest man in the world doesn't have a single* truly profit-making venture under him.
How the bubble around him hasn't burst yet I don't know, but it would certainly be a feast for sore eyes.
*Edit: Forgot about SpaceX, which actually has made itself a decent chunk of money - about $15.5 billion in 2025 - but I doubt that alone is capable of propping up his nearly $500 billion personal valuation.
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How the bubble around him hasn’t burst yet I don’t know
Corporate welfare.
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SpaceX has been phenomenally successful. I don't think he can be attributed to much of that success. The Falcon 9 handled 95% of launches in 2024. SpaceX has went from non existant to a near monopoly in 23 years while competing against some of the most powerfully connected companies in the world.
I'm not a SpaceX fanboy (I'm a space fanboy). They have done a lot of good for the space industry, while also causing a lot of harm to the scientific space community (earth based observations). I just don't think you can make an argument that SpaceX is not a successful company.
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I agree. Changed the text!
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Not just earth based observations, they’ve pretty much guaranteed we’re have no hope in another space race versus China, or even just in general for the next decade at a minimum.
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Apartheid-man's basically a bubble unto himself.
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only spacex is relatively successfull, but it's not on the same level of half trillion dollars.
Not exactly sure what you're trying to say here but spacex has tentative plans to ipo at a 1.5 trillion valuation.
Wallstreet is salivating over this because they know they get in first and will make bank when retail investor drive the price to ridiculous levels.
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Gov gotta have their corporate frontman. Keeps their hands clean.
Just like his paypal buddy, spinning the golden wool of palantir from the unwelcome rot of total information awareness.
And now no pesky joe-public to get in the way, since it's corporate, not public.
They're clever like that.
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The weird thing is that these people don't think they're rich enough and want to extract more money from government and the people, and they simultaneously think that the government gives too much money to poor people.
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They race to who will be the first trillionaire. It's disgusting. Meanwhile children are starving.
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It's bound to happen soon.
And you know what they say, the difference between a trillion and a billion is about a trillion. -
Surely someone's already there, quietly, long time ago.
... Who owns the debt?
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To these people, there's no such thing as "enough". Contentment is not a concept that exists within their minds, only a sociopathic urge to acquire more.
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Imagine how rich we'd all be if all the suppressed emancipatory technologies got availed to each and all. No more impoverishment by rents. Free energy. Negligible cost of travel. All space opened to us each and all.
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No more impoverishment by rents.
You've put your finger on it there.
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The french really did have a solid way of reminding the upper crust that they were vastly outnumbered by the people they were standing upon...
Remind me. Why are the worlds billionaires all building bunkers? A true mystery.
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Honestly stop being poor dudes, just ask your father for some millions to get started and start exploiting people, easy
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Just a small multi million dollar loan, Dad
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Ask for several thousand dollars and go to a third world country where people only earn hundreds per year. Turn those thousands into millions. Easy.
Most Westerners can play Musk's game in a third world country.
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Any place that allows this to happen is a bad place.
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Eat the rich.
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People really should pay their bottoms more.
(sorry)
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We already have Musk acting like his own personal country, making personal deals with world leaders that benefit only himself over other nations. Others are probably doing it, too, but we haven't heard about it.
Now these Sociopathic Oligarchs are heading to trillionaire status, and they WILL be founding their own Corporo-Nations, which will require private armies for security. Eventually, these Corporo-Nations will combine to form their own alliance, combine their armies, and start throwing their weight around militarily, as well as economically.
This is all just a matter of time, and then we're going to wonder as a planet, Why we didn't stop those guys back when we had a chance?
I have no doubt at all that ALL of them have violated many laws, in many sectors, to get as rich as they are. Investigate them deeply, prosecute them for their crimes, and confiscate their entire fortunes. If we don't do that, it is absolutely certain that we will come to regret it.
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The age of kings returns.
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Damn, when I read this statistic the other day I took it as 'the bottom half has less then the 3 richest persons', but in fact, it is 'three people each have more than the bottom half' holy shit.
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As per, the only thing that trickles down is shit, vomit and piss.
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Every time I see these guys’ faces I cringe so hard. It’s frankly embarrassing working in the tech industry when most people think of them whenever anyone mentions it.
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USA at again, isn't it? The country with trillion debt, that's about to blow.
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It has always been a thing with America. The debt has been astronomical for many decades. I know its easy to believe its something new, but it really isnt. My entire life, America has been like this.
Im not too interested in the why, but I have glanced articles explaining why this is actually ok because of their position in the world, the world currency being the dollar, and other factors. Its very boring for me but you can find info about it.
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about to blow.
about to
It's not. Speaking from decades of living under this, it's always framed this way, but there are no international financial cops, there's nobody with American held debt that dares try to collect, we are the biggest, bloated monster with the biggest, baddest bloated military.
At the end of the day, the one with the biggest stick wins. Until that collapses, USA will continue to have an economic hegemony.
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Don't forget that shithead larry Ellison. He's worth 200b right now.
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It's hard to believe, but Ellison is worse than Musk. Musk is a lot like Trump, he wants love and respect, even though they are far too psychopathic to really understand what those things are, and they think that having money and acting tough will make people love and respect them.
Ellison doesn't seem to care about that. He's a mean, cruel person, who seems to enjoy being that way, and like Fred Trump, he raised his son to be as much a psychopath as he is.
Musk is dangerous, but he is too stupid and impulsive, and it blunts his impact. Ellison is far smarter, and far more effective. He's not quite as rich as the rest, but at a certain level, who can really tell? It's all just wretched excess after about $100 bill anyway. But even so, now that he owns CBS and Paramount, and is trying a poison pill takeover of Warner Discovery, he'll be in the upper reaches very soon, jockeying for position at in the top rankings
And I doubt he will stop at CBS/ Paramount and Warner. Larry Ellison is going to control a massive amount of the media in the this country, and he is a massive MAGA, of the worst kind. There are supposed to be government controlled limits on media ownership, but all rules are elastic under MAGA, and he'll be allowed to own anything he wants. Don't be surprised if he ends up owning all broadcast TV, and then he controls the narrative for all political campaigns, election results, news programs, debates, etc. No candidate gets promoted on TV unless MAGA allows it.
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Don't forget the bankers who do not appear on such rich lists.
... How much did the Rothschilds have at the start of last century? Enough to own how many nations? All of them?! Oh, maybe they just magically got poor since then, huh? XD
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Now, I might be misreading this data, but from what it looks like either one of these billionaires by themselves have more wealth than the bottom 50% of Americans, right?
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More like one Billionaire own 5.6 times the wealth of the bottom 50%
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Yeah, this is phrased like those three just slightly edge out the bottom 50, as opposed to each individually owning significantly greater than the bottom 50. I'm going to assume these three own more than the "bottom" like 85%.
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Top two are richer than the 3rd + the 50%
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Cuckerburg
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money is a meaningless construct. Eat the rich.
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"own more" is putting it lightly, they literally own 10 times more than bottom 170 mil people combined
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It works like a piñata - if we beat it open with a club, only then will its contents trickle down.
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It will trickle down any second now
No, no. A little while yet.
They've got to get enough to cover
first. THEN it'll trickle down. For super super sure.
Trust them. Maybe they care.
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They’ve got to get enough to cover
Brother, those are treasuries. Nobody is trying to "pay back all the treasuries" except a dozen or so crank libertarianism obsessed with Free Banking.
We've never missed a treasury payment in large part because we can't miss a payment (unwillingly) when we print our own money.
Anyone who claims we can't pay back the National Debt is either ignorant or lying
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That was intended whimsically.
But also,
The FED's federal in name only.
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The debt of the nations are the assets and income of the rich. They don't want that to disappear. Not until they de-invested at least.
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The economy is set to take off any time now Charlie Brown.
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Financial obesity is an existential threat to any society that tolerates it, and needs to cease being celebrated, rewarded, and positioned as an aspirational goal.
Corporations are the only ‘persons’ which should be subjected to capital punishment, but billionaires should be euthanised through taxation.
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Elon is not an American.
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He builds fireworks that's pretty American tbh.
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What’s about the other twelve multi-billionaires that are worth more than $85B? Why were they left out?
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It's the "that guy wants your cookie" meme, but billionaires ranked 4th and lower are pointing at these 3.
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Dragonslayer is an occupation that needs a comeback
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If these billionaires started feeling just a little less safe out in public with the rifraf ... Rather than being worshiped - I imagine we'd see them at least hesitate when improving the efficiency of the orphan crushing machine.
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any one of those three individually would, if this graph is accurate.
one billionaire owns more than the bottom 50%
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I wonder if they mean that 4th place has less
Like "there are 3 people who each have more than..."
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Sadly no, you’d have to go allllll the way down to the 15th richest American to get to $80ish billion https://www.forbes.com/billionaires/
Musk alone prolly has more than the bottom 70%ish of Americans.
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The only way it trickles down is the way Charlie Kirk showed us
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This is so disgusting.
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478 billion for Musk. Happily he found a way to destroy money as effectively as possible by building the biggest rockets ever and let them explode over and over again.
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Roughly speaking, if you murdered and seized their wealth by liquidating their assets at current value, that's like... 6k donation to half of the US.
That's assuming 50% of about 340m people with big economic assumptions that won't hold up, but fun to think about. It's not a ton of money even then, but it'd probably do more for everyone than under some dragon. Course, we could also just tax them a large amount like we used to, which accomplishes the same thing without the murder.
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Vote out every single Republican or whatever right-wing/far-right party you have in your country. Shift the Overton window each time a seat gets flipped.
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And don't forget to get rid of the Dems who have been there. Replace them with actual leftists.
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That's not liquid money though. For each one, the figures mostly represent stock in their own companies which they couldn't pull out without crashing the value. Musk's wealth in particular is mostly air. At least the other two have profitable companies that actually function. In any case, much of it's not real money we could pull out of the bank and spread around. (But we could tax the fucking snot out of them and spread that around!)
But even if they were "only" worth a few 10's of billions, the real issue is that they own the government. And Zuckerberg and Musk own a monster chunk of our social media, control our opinions.
tl;dr: It's not real money and the problem is influence, not total wealth.
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This is bullshit.
When it comes to measuring their wealth it's not real money.
But when it comes to calculating GDP and growth and other economic metrics these are still included. Make up your mind, either equities are real money or GDP is made up nonsense.
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When it comes to measuring their wealth it’s not real money.
This is not entirely correct.
As in: it's technically correct, but practically they just use their equity as leverage for loans, turning them into cash without actually touching them. Oh, and since they took on debt, now they get to report that as a loss and get tax breaks. They can pay off the interest from whatever actual money they're earning.
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But when it comes to calculating GDP and growth and other economic metrics these are still included
I'm not sure what you mean here. GDP is total money spent and as such would not include equity.
Tho GDP is real, or at least as any metric and proxy we use for measurement.
When it comes to measuring their wealth it's not real money.
This bit is kinda true. Its not money until its sold. I would include being leverage into a loan to count similarly and should be taxed as capital gain (this is a current loophole)
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So then forcibly nationalize their companies if they won’t share the equity in their companies with the workers who built it. Fuck your stupid argument that defends oligarchs
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This place makes me feel like I'm surrounded by angry teenagers. I merely explained that their wealth isn't liquid, and that is a cold stone fact. I also explained that the money isn't the issue in and of itself. The issue is that they can purchase influence enough to run the country.
Lemmy: "BOOTLICKER!"
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We can of course fix this…just look at French history…
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In the past, the owners and/or aristocracy, lived in the general area of workers. Not the case anymore. I would love it if people started Luigi-ing aggressively.
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robber barrons 2.0
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Not to mention that the top owner owns more than the second and third combined...
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Fuck trickle-down, time to implement the piñata economy.
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What people often forget about trickle-down economics is that wealth only trickles down to named beneficiaries
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It never trickles down.
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The bottom 50% of households have an average net worth of $629?
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People who don't own their homes, cars, etc have no net worth other than what's in their savings. Most of us are living day to day. It's not that hard to fathom.
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Taking into consideration the large amount of credit card debt, student loans, mortgages, etc.? It's plausible. Someone who rents, is living paycheck-to-paycheck, and has maybe a few hundred dollars in credit card debt could be in the "negative"
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Most of America cannot absorb a sudden expense of 400-1000 dollars.
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Every 30 FUCKING HOURS, since Covid, another Billionaire is created. That number was halfed before 2020. It means that nearly 500 people became billionaires while pretending they needed to raise prices astronomically to stay solvent. They need to be tried and sentenced harshly. VERY harshly.
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Well, only on paper. Someone actually has to buy their shares first.
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You'd think that, but go research or watch a video and get informed on how these bimbos use their networth (stocks) as collateral for bank loans of still more money than we will ever see in our life times (that they never really pay back btw).
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They take out loans against their stock, kind of like a HELOC. So they get money without reporting any income too cuz it's a loan.
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Of course. Never said that those are 100% stocks. They have massive expenses to cover and they use the stock value as leverage. The banks giving out loans are creating the bubble.
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Cannot wait for the next big solar flare that destroys all online servers of Fakebook and shAmazon. All this money will actually turn out to be a fake bubble...
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At first I thought it was combined. Not "individually each." And not by twice.
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The Broligarchy https://www.instagram.com/reel/DQF5bjZAVkc/
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The "money" used to buy bread is a very practical medium to exchange resources. These figures with too many digits are not real: that "money" is a result of sums of products of virtual values based on credit and speculation. The fact that the same symbol ($) is used for these two very different things sounds like a systemic bug.
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You say that but they can and do use that virtual value to buy bread.
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Sure they can buy bread, but here's the catch: it's like going to the bakery, asking for free bread with the promise that you'll pay later because you can show 10 digit numbers, even if your pockets are actually empty. So these people practically live on credit because the market value would crash if they sell. At a macro level, 97 % of every dollar is actually debt (credit), mostly created by private banks to feed the system: https://econcurrents.com/2024/08/25/where-does-us-money-come-from-and-where-does-it-go/.
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True, but if Elon gave you $1 million in Tesla stock you could still easily sell it, be taxed on it, and use the remainder to buy a lot of bread.
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and they couldn't just be happy being that rich. They got bored and decided to kill us all. They need to be rounded up and put on trial. Why are people so afraid of rich people ~ Luigi
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The only peaceful way I see wealth being redistributed is if Musk, Bezos, and Zuckerberg use regulatory capture to reform government in order to raise their own taxes. Such a scale of philanthropy hasn't been seen since the robber barons Andrew Carnegie and John D. Rockefeller donated to build libraries and improve public education. Had those Guilded Age monopolists they also used their wealth to compel the US's legislative branch to raise taxes, bolster anti-trust laws, and prevent the acceptance of consumer welfare doctrine over plain anti-monopoly policy, then I'd argue their donations to improve public education would have gone much farther.
That said, plenty of non-peaceful ways exist much like there are many ways for an iceberg to flip over.
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Can someone do the math for me... If theoretically that was all liquid and those 3 got Thanos snapped with the money redistributed, how much would each American get?
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About $2500 per person
As in 1 trillion / 390 million population
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And this graph is old, isn’t it? Their wealth is snowballing rapidly, hence Larry Ellison is at $250B now.
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We need to raise taxes until capital increases at a rate closer to wage gains. This is basically what Piketty talked about in Capital in the 21st Century.
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this appears roughly 1/3 of the third richest person is more wealthy than the bottom 50%
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Why do we put up with this shit. We need a revolt but it won't happen as most people are not angry enough as they have their phone addiction. Beer and circuses.
145 comments