r/technology • u/DontFearTheCreaper • 2d 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
67.5k Upvotes

91% Upvoted

2.1k comments sorted by

View all comments

2.3k

u/princeofzilch 2d ago

I haven't heard that they're upset about it. 

2.1k

u/Objective_Resist_735 2d 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.

53

u/ImDestructible 2d 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.

3

u/cyanescens_burn 1d ago

Someone with $1B losing 99% of their money still has $10M, an unimaginable amount of money for the vast majority of people in the US (or anywhere really).

3

u/Suggestive_Slurry 22h ago

The thing about it is that they don't lose that in cash. It's more like imagine you are a homeowner and one year the housing market collapses and your home is worth half of what it used to be worth. If you're not planning on selling your home or borrowing against it, that really doesn't matter. You still have your house. Two or three years later, your house is back to what it was originally worth. 

In that time, maybe you suffered some hardships, maybe you didn't,  but it wasn't because of the value of your house cause you weren't planning on doing anything with it. These billionaires still own a controlling stake in their companies. That didn't go away just because those millions of shares are worth $30 less than they were a fee weeks ago.