"ttyymmnn" (ttyymmnn)
04/15/2020 at 10:33 • Filed to: None
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"ttyymmnn" (ttyymmnn)
04/15/2020 at 10:33 • Filed to: None | 0
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Meanwhile, how does your portfolio look?
Seriously though, what is Bezos doing with all of his money? He’s like Smaug sitting on top of his hoard of gold. He could do a lot of good with just a tiny fraction of his money.
!!! UNKNOWN CONTENT TYPE !!!
Arch Duke Maxyenko, Shit Talk Extraordinaire
> ttyymmnn
04/15/2020 at 10:45 |
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Not driving a Senna, that’s for sure
Ash78, voting early and often
> ttyymmnn
04/15/2020 at 10:46 |
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Paper gains. It’s only slightly higher than where it was before the big drop — better than most stocks, but not too drastic.
I also like to look at this in terms of how many other people got wealthier (by a lot more than $24B, but spread out among far more constituents). Maybe the best thing to do with our stimulus money — if you don’t need it immediately — is to buy a share of Amazon.
Speaking of which, isn’t it time for a stock split? $2,300 per share is a pretty steep entry price for retail investors...
(Argh, lost my edit -- I was saying he eventually needs to start a foundation to start giving this away, but I can’t fault him for making more gains while he can. In the long run, that does more good...but in the short run, the optics suck.)
jminer
> ttyymmnn
04/15/2020 at 10:47 |
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I feel like we got spoiled early on with Bill Gates - who took large chunks of his incredible fortune and has done a lot of good with the Bill and Melinda Gates Foundation.
Buy yeah Bezos - richest man in the world by a large degree and still is supremely shitty to his employees and I think is just hoarding it all in a Scroo ge McDuck style vault.
SBA Thanks You For All The Fish
> ttyymmnn
04/15/2020 at 10:47 |
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ttyymmnn
> Ash78, voting early and often
04/15/2020 at 10:51 |
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buy a share of Amazon.
That’s not a bad idea.
Future next gen S2000 owner
> ttyymmnn
04/15/2020 at 10:53 |
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He probably got a tax break with the stimulus bill that was just passed. So that’s nice of us to give him a lower tax bill.
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Future next gen S2000 owner
> Ash78, voting early and often
04/15/2020 at 10:55 |
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Speaking of which, isn’t it time for a stock split? $2,300 per share is a pretty steep entry price for retail investors...
Probably wants it that way. Wants investor that have funds to play in the deep end. I don’t think Berkshire Hathway has ever had a split either.
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Arch Duke Maxyenko, Shit Talk Extraordinaire
> jminer
04/15/2020 at 10:55 |
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Well he does now own the Warner Estate
functionoverfashion
> ttyymmnn
04/15/2020 at 10:57 |
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$ 24bn is just such as easy number to digest when it’s written like that. But the amount of money it really is, is just stunning. And it’s just a bump on a graph for him.
Quick fun with a calculator, it’s like making $27,000 per hour, 24 hours a day, for 100 years .
Meanwhile, I’m like, “hmm, should I really get the name brand ? I t’s like $1.50 more... ”
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ttyymmnn
> functionoverfashion
04/15/2020 at 10:58 |
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That’s what, $450/second?
Deal Killer - Powered by Focus
> ttyymmnn
04/15/2020 at 11:06 |
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If the economy tanks as hard as it’s predicted too, some people may not appreciate those who take advantage of others for the own profit. Treating employees like they are automatons is not a good idea, in my opinion.
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functionoverfashion
> ttyymmnn
04/15/2020 at 11:12 |
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I think 450/minute. $7.50/second. HEY that’s minimum wage in some places! Per second. For 100 years.
That’s actually kind of neat, and a much more interesting calculation.
BigBlock440
> ttyymmnn
04/15/2020 at 11:27 |
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What’s he doing with it? Rockets.
Except he doesn’t actually have $24B in actual dollars, just shares of a company that could, in theory, be worth pennies overnight. If he wanted to cash out, he’d need a buyer for all those shares, and putting all those shares on the market at once will depress the price pretty quickly I’d imagine . Practically speaking though, yes, it’s basically unlimited money available to him. It’s inaccurate to say he has $XB without knowing the cash portion of his portfolio (which should be substantial anyway).
fintail
> Future next gen S2000 owner
04/15/2020 at 11:28 |
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It’ll trickle down any day now, I promise:
Stef Schrader
> ttyymmnn
04/15/2020 at 11:32 |
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Can we put billionaires like Bezos on “Hoarders?” That’s what this strikes me as: hoarding, only with less of a point to it than the people who actually do
go on “Hoarders.”
Mid Engine
> Future next gen S2000 owner
04/15/2020 at 11:44 |
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You can buy Berkshire Hathaway B stock for under $2 00 a share
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Mid Engine
> jminer
04/15/2020 at 11:47 |
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Bezos recently sold $4 billion in stock so he can buy mansions. This guy should run for president; he has no scruples, morals, or social consc ious. Empathy is below zero..s ound familiar?
ranwhenparked
> ttyymmnn
04/15/2020 at 13:10 |
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Well, this is what happens when you control one of the few businesses the government allows to operate. Still, with the market fluctuations, this is basically just bouncing back to where he was before, not really an absolute gain.
Also, with lockdowns and social distancing lasting into 2022, that's going to decimate Amazon's customer base, so even they are going to suffer badly eventually. Controlling a market that halves in size is going to have a negative effect on the bottom line.
ZHP Sparky, the 5th
> ttyymmnn
04/15/2020 at 13:38 |
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Any info on what he (and others) actually do/plan to do with these ridiculous amounts of money?
Agreed with others replying that this is really just a bounce back of losses in the recent past - so not actual paper money realized gains, but doesn’t negate the obscene amount of money one man holds.
Of course there many low-millionaires fighting against increased progressive taxation - but how many people will actually complain (corporate/rich guy lobbying not withstanding - so actual people/votes ) even if we start working backwards from the very top of the top - say with just a tiny increase in taxation on the 100 biggest fortunes/paychecks. Imagine all that could be accomplished (with good faith, functional government) AND still leave them with absolutely zero impact or added hardship on their lives.
Turbineguy: Nom de Zoom
> ZHP Sparky, the 5th
04/15/2020 at 13:47 |
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You could triple those 100 people’s taxes and it wouldn’t affect their lifestyle one bit.
pip bip - choose Corrour
> ttyymmnn
04/16/2020 at 06:59 |
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i hope he chokes to death on his next meal