cross-posted from: https://lemmit.online/post/5566633
This is an automated archive made by the Lemmit Bot.
The original was posted on /r/todayilearned by /u/MechCADdie on 2025-04-04 08:19:11+00:00.
cross-posted from: https://lemmit.online/post/5566633
This is an automated archive made by the Lemmit Bot.
The original was posted on /r/todayilearned by /u/MechCADdie on 2025-04-04 08:19:11+00:00.
They have enough money to coast along to buy and hoard failing companies and collect them for whenever the economy rebounds.
Billionaires have so much money, they could spend a few thousand a day and it wouldn’t hurt their bank account for decades.
They could spend $100,000 a day for 50 years an not have spent through 2 Billion. Elon and musk both command 200 Billion ish. the interest alone is worth that 8 billion a year if it was in treasuries.
Every year the interest on Musks fortune could generate enough money to spend $2,100,000 a day without even losing a dollar of principle. on the theoretical interest of his fortune.
I lost 10% of my retirement today. Thats not even a fraction of any of these numbers 😂😭
The old oil money declared war on the neuvo riche tech bros.
Its an attrition war.
The majority are peeons (sic) in this new feudal trickle down economic game.