The global population of ultra-high-net worth individuals increased 8% last year, according to Altrata, and much of that growth was in the U.S.
  • @[email protected]
    68•2 months ago

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

    • mozz
      9•2 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

      • @[email protected]
        9•2 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

        • @[email protected]
          6•2 months ago

          I mean, regular people can do that too, just not to the same extent. Robinhood is offering 6.75% now on margin loans, and IBKR has like 6.85% or so.

    • @[email protected]
      4•2 months ago

      Yeah, the article says the rich got 7% richer in 2023 for a total of $49b.

      That’s about $3-4b gained in 2023.

        • @[email protected]
          1•1 month ago

          Imperial trillion, metric billion.

          In the US of A, 1T = 1.000.000.000.000 (1B is 1.000M, and so forth)

          In the metric system, 1T= 1.000.000.000.000.000.000 (1B = 1.000.000M, and so forth)

          That’s why in other languages you sometimes hear “a thousand million”, although I agree with you in that the most common way of counting on the internet is with imperial billions.

  • @SanctusEnglish
    24•2 months ago

    We should start a successful Occupy Wallstreet.

    • @Allonzee
      14•2 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, if the owners allow there to be a next one.

      There’s nothing more demoralizing than being attacked by the people you’re desperately trying to help.