r/technology • u/DontFearTheCreaper • 20h ago

Social Media Tech CEOs who grinned behind Trump at inauguration lose billions in wake of tariffs

https://www.independent.co.uk/news/world/americas/us-politics/trump-tariff-bezos-musk-zuckerberg-b2727147.html
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u/Objective_Resist_735 20h ago

That's because they can lose 100 billion dollars and still be the richest people on the planet. That doesn't matter much to them. They are currently dividing up government agencies and taking control of them under the guise that the free market will do things better. In reality it will turn services into for profit business that prey on their customers, and we will lose all control to a few people and never get it back.

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u/princeofzilch 20h ago

Right. This article isn't really the dunk that the headline claims. 

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u/LarrySupertramp 19h ago

This is the media trying to make it seem like the working class is in a similar situation as the oligarchs which could not be further from the truth. BS cope that dumb people fall for.

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u/ASpookyBug 6h ago

It reminds me of early covid when all the celebrities were having meltdowns from not being given attention at all times and started posting about how COVID was "the great equalizer".

Like, no. You're sitting in your mansion eating wagyu beef cooked by your personal chef who's kitchen is so large social distancing isn't even a concern. Meanwhile most of the country isn't being paid because they aren't allowed to go to work.

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u/craig_cignarelli 17h ago

I really want to feel some schadenfreude here, but I'm not getting much if any satisfaction. I can't think of one lifestyle change for them, as opposed to everyone trying to make paychecks meet.

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u/Logical-Bowl2424 17m ago

They’re still way ahead of us ,they could have been planning for weeks /months

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u/Dazbuzz 19h ago

Im sure the stock market will jump back up eventually. These billionaires will be the ones making the most out of it when it does. Why wouldnt they be laughing?

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u/Whiterabbit-- 7h ago

in the pat the stock market has been volatile but always upwards. trump is changing some very basic things about how America (& the world) does business - all in negative ways that can't be fixed. we can be down for 30-50 years. look at what is happening in Japan since the 90s- it is entirely possible that market won't bounce back for a generation or more.

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u/ImDestructible 16h ago

That's what most people don't seem to understand. If they loose 50% of their net worth, they're still billionaires. If the average American looses 50%, they're homeless. Everything single one of them will end up better off after all of this.

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u/RonWill79 16h ago

Also, they didn’t “lose” anything unless they sell their stocks now. If/When the market recovers, they will have lost nothing.

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u/wandering-monster 18h ago

No, it's because they've lost $100B in stock valuation.

They already took out loans against that stock as collateral. Meaning: they have the cash in hand. The banks lost $100B today, if they decide to call in the loans and force them to sell.

The tech bros will use that cash to buy stuff up when the market crashes, own even more of the economy, then let it recover.

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u/FamousAmos87 17h ago

They can shrug off 100 Billion, but the moment you tax them they twist up into knots and whine about it.

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u/ItsMandatoryFunDay 17h ago edited 15h ago

It also goes to show how much "money" is meaningless.

Something like a couple trillion dollars was wiped out in stock value.

There isn't physically less money just value.

Like if I bought a rock for $10 yesterday and it's only valued at $4 today is the other $6 "lost"?

I know that's super oversimplying things. :)

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u/aguynamedv 14h ago

Something like a couple trillion dollars was wiped out in stock value.

Nearly $10,000,000,000,000 wiped out since Trump took office.

Billionares don't care. The average American just saw their 401k destroyed for absolutely no reason at all.

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u/hatemakingnames1 7h ago

It's all a guess, and it's often a bad guess

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u/GreyMASTA 18h ago

"Never give it back..."

And how about not letting them f*cking getting away with it? Do you think kings and emperors simply vanished when we said, "Let's have a Democracy?". No, our ancestors rose up and stood against them!

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u/Popular_Try_5075 3h ago

It does matter to them if they lose it through paying fucking taxes though. They'll burn the Constitution rather than pay their fair fucking share.

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u/remesamala 3h ago

They sacrifice to gain. They will own these countries that are getting flipped behind the scenes.

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u/Shuttalking 15h ago

The thing is they haven't LOST ANYTHING. They're not selling. They're buying and waiting 

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u/BTP_Art 12h ago

That’s why we need to separate their heads from their necks. Turns out doing this in middle of the city with big machine a few times can keep the others inline.

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u/Not_a_bot07734 6h ago

What other agencies are these CEOs involved in?

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u/Fahad1012 59m ago

A hundred billion dollars is not cool. You know what would be cool - 1 trillion dollars.

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u/Herban_Myth 17m ago

If they can afford to lose that why can’t they pay taxes instead?

Control? Power? Exploitation?

Theft?