Viewing a single comment thread. View all comments

coldneuron t1_issxzm1 wrote

If they lost money does that mean it went somewhere? Did 60 billion dollars go from Musk to someone else? Or is this mostly imaginary money that is speculated based on possibilities.

Whenever I see a billionaire but it’s in stock I think it’s mainly Schrute Bucks or Stanley Dollars.

1

Bewaretheicespiders t1_ist3sud wrote

No money went anywhere, for the most part. Its just the value shares of each enterprise currently trade at.

You have a piece of art thats worth 10'000$ then suddently people decide its just not cool anymore, your net worth drops by 10K but no money was exchanged. Wealth is created, and it can also be wrecked.

1

coldneuron t1_ist6cd6 wrote

I don’t understand how billionaires who are created that way owe society anything. They are only rich because people decide they are. If everyone in America suddenly decided I was a billionaire I’d think they were all insane. And if they then decided I owed more taxes because they imagined I was wealthy I’d think they were extra nuts.

If I earn money I can pay taxes on that. If someone says my shoes are suddenly a billion dollars they’d better be willing to give me a billion dollars for it.

1

Bewaretheicespiders t1_ist7rut wrote

People have forgotten that wealth is created. They thus think thats its a zero-sum game (its not). And so they (wrongly) think that is someone has more net worth, it must mean that they took it from other people.

Sadly societies that start to revile wealth creation quickly go on a path of poverty.

edit: Because markets are going down, did you notice we didnt get those how much time did it take for these billionnaires to ""earn"" X million dollar since January 1st news time this year haha.

0

manbehindthespraytan t1_isvulj2 wrote

Yes, money moved. No one bought more than those that sold, for money. When people move the value (money) back to themselves or anywhere else... the value (based on currency) moved. Thankyou for giving me a chance to correct your misconception.

1

Bewaretheicespiders t1_isvw62k wrote

Money doesnt even have to move. Just changing the bids and asks without resolving any transaction would change the market capitalization. Certainly money does not have to move to or from Musk for Tesla share prices to change.

If you want to correct misconceptions, first learn.

1

manbehindthespraytan t1_isw4jvv wrote

Why would ppl get scared if the money wouldn't move? It can, will, and does. In that scared state, ppl are trying to move the money around, thus affecting value. Money moves. You are very welcome for my assistance.

1