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/a-base 20h ago

Much like the 2008 housing crisis in the US, these things tend to work out very well for billionaires - at a cost to the poor, lower- and middle- class.

  • Their losses are just theoretical, it's not like they have to cash out their stocks or sell assets and take any real loss.
  • Even with these 'losses' they are still billionaires and can access cash in numerous ways. They can quite comfortably ride out any period of instability.
  • More likely than riding it out, they'll use it to their advantage. With markets crashing they are perfectly positioned to swoop in, scoop up anything they like, and make out like bandits.

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u/anonymous_lighting 20h ago

i hear ya but to that same point do they really gain anything if their wealth increases by 10% after the fact? 

217

u/DankButtHats4sale 20h ago

THE PILE OF GOLD MUST GROW TO FILL THE SPOT WHERE MY SOUL SHOULD BE

13

u/Teledildonic 19h ago

The Mesoamerocans had a good solution for a few Spaniards that had insatiable thirst for gold.

5

u/aspidities_87 18h ago

So did Khal Drogo

Crown for King

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u/Least-Back-2666 14h ago

Let's take a billion in cash and bury musk, Bezos and Zuckerberg in it. Alive.

2

u/Teledildonic 13h ago

What about pennies?

Ass pennies