Current Events > Bezos set to no longer be longer richest person in the world

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pls
10/25/19 11:26:39 AM
#1:


https://www.bloomberg.com/amp/news/articles/2019-10-24/bezos-set-to-lose-no-1-wealth-ranking-to-gates-on-amazon-plunge

Maybe now the left will finally understand that these guys are just temporary billionaires. They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.
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#2
Post #2 was unavailable or deleted.
MacadamianNut3
10/25/19 11:28:08 AM
#3:


pls posted...
They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.
Thanks for pointing out the obvious and for your service

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MC_BatCommander
10/25/19 11:28:34 AM
#4:


Dang, second richest instead. Must suck for him
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CruelBuffalo
10/25/19 11:29:54 AM
#5:


MacadamianNut3 posted...
pls posted...
They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.
Thanks for pointing out the obvious and for your service

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pls
10/25/19 11:29:57 AM
#6:


MacadamianNut3 posted...
pls posted...
They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.
Thanks for pointing out the obvious and for your service


Apparently it isn't obvious to a bunch of CEmen. One dude literally argued recently that Bezos is bribing the government with billions of dollars lmao
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UnholyMudcrab
10/25/19 11:31:09 AM
#7:


If his net worth is still north of $100 billion, I don't think that "temporary billionaires" was necessarily the phrase you wanted to use there.
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pls
10/25/19 11:32:43 AM
#8:


UnholyMudcrab posted...
If his net worth is still north of $100 billion, I don't think that "temporary billionaires" was necessarily the phrase you wanted to use there.


Yeah and if Amazon gets broken up or goes down the way Sears has, what do you think will happen to his net worth? It's mostly illiquid.
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Jiggy101011
10/25/19 11:33:07 AM
#9:


1A9qNw6
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pls
10/25/19 11:33:26 AM
#10:


Jiggy101011 posted...
1A9qNw6


Lmao
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HagenEx
10/25/19 11:33:49 AM
#11:


pls posted...
Maybe now the left will finally understand that these guys are just temporary billionaires


He will never be "not billionaire".

He's just losing the #1 spot.

/Flopic.
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Solid Sonic
10/25/19 11:34:08 AM
#12:


pls posted...
https://www.bloomberg.com/amp/news/articles/2019-10-24/bezos-set-to-lose-no-1-wealth-ranking-to-gates-on-amazon-plunge

Maybe now the left will finally understand that these guys are just temporary billionaires. They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.

>have meaningless title as "richest in the world"
>have to settle for "second-richest" when your assets are still in the billions


I'd lose so much sleep, I tell ya...
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Questionmarktarius
10/25/19 11:34:32 AM
#13:


Why is amazon tanking all the sudden?
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CapnMuffin
10/25/19 11:34:41 AM
#14:


pls posted...
MacadamianNut3 posted...
pls posted...
They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.
Thanks for pointing out the obvious and for your service


Apparently it isn't obvious to a bunch of CEmen. One dude literally argued recently that Bezos is bribing the government with billions of dollars lmao

I recall people theorizing him handing out money to people but they dont seem to realize people have to give *him* money for his assets first.
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UnholyMudcrab
10/25/19 11:37:02 AM
#15:


Questionmarktarius posted...
Why is amazon tanking all the sudden?

A weak Q3 earnings report
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Kitt
10/25/19 11:37:56 AM
#16:


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Lonestar2000
10/25/19 11:38:52 AM
#17:


How long before the TC gets banned again for crying about communism?
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pls
10/25/19 11:42:37 AM
#18:


CapnMuffin posted...
I recall people theorizing him handing out money to people but they dont seem to realize people have to give *him* money for his assets first.


Exactly. And if he was going to sell his assets to raise that kind of cash, the enormity of the sale would tank the value of the stock.
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pls
10/25/19 11:44:38 AM
#19:


Lonestar2000 posted...
How long before the TC gets banned again for crying about communism?


Are you sympathetic to communism or something?
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AlephZero
10/25/19 11:46:19 AM
#20:


nobody needs more than $10k in net worth

everything past that should be taxed at 100%
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VanananaHeyHey
10/25/19 11:47:23 AM
#21:


pls posted...
Apparently it isn't obvious to a bunch of CEmen. One dude literally argued recently that Bezos is bribing the government with billions of dollars lmao

I didn't see that topic, but Amazon does throw fits when the subject of regulation comes up. It and similar companies have been able to strangle major cities in bidding wares or with threats of leaving, so it's not too farfetched that a company of that size could leverage some "wouldn't it be a shame..." on a government.
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Dragonblade01
10/25/19 11:49:05 AM
#22:


I don't really think that people who take issue with others being billionaires would then turn around and think: "Oooh! They were only temporary billionaires. I take back everything I've ever said."
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Webmaster4531
10/25/19 11:49:42 AM
#23:


What does Gates even invest in that makes money? Are people actually buying or using Microsoft crap?
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#24
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konokonohamaru
10/25/19 11:53:50 AM
#25:


MacadamianNut3 posted...
pls posted...
They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.
Thanks for pointing out the obvious and for your service

you'd be surprised how many people don't understand that though...
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Webmaster4531
10/25/19 11:55:59 AM
#26:


konokonohamaru posted...
MacadamianNut3 posted...
pls posted...
They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.
Thanks for pointing out the obvious and for your service

you'd be surprised how many people don't understand that though...

What does that matter though?
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PleaseClap
10/25/19 12:03:11 PM
#27:


I hope he manages to make it through this difficult time. I cant imagine how much pain and suffering he must be going through right now.
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konokonohamaru
10/25/19 12:53:35 PM
#28:


Webmaster4531 posted...
konokonohamaru posted...
MacadamianNut3 posted...
pls posted...
They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.
Thanks for pointing out the obvious and for your service

you'd be surprised how many people don't understand that though...

What does that matter though?


Eh. For guys like Gates and Bezos it probably doesn't matter.

But sometimes people think small business owners who have a high net worth due to their business are swimming in cash. But all that net worth is locked away in the business and not necessarily accessible, and can disappear quickly if the economy tanks.

Part of the issue is that the value of your labor isn't factored into your net worth, but for someone whose main job is to own a business, it is. So it makes the business owner look richer than someone who's just a worker, even though the worker actually has higher net wealth.

For example, an engineer who just started working for a company with a salary of $100k should be considered wealthier than someone who owns a small business and is bringing in $50k profit a year, but when we do net worth calculations the value of the business is counted but hte value of your skills as an engineer isn't
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GoodOlJr
10/25/19 12:55:58 PM
#29:


MacadamianNut3 posted...
Thanks for pointing out the obvious and for your service


A lot of people dont get this

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Webmaster4531
10/25/19 1:00:47 PM
#30:


konokonohamaru posted...
Webmaster4531 posted...
konokonohamaru posted...
MacadamianNut3 posted...
pls posted...
They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.
Thanks for pointing out the obvious and for your service

you'd be surprised how many people don't understand that though...

What does that matter though?


Eh. For guys like Gates and Bezos it probably doesn't matter.

But sometimes people think small business owners who have a high net worth due to their business are swimming in cash. But all that net worth is locked away in the business and not necessarily accessible, and can disappear quickly if the economy tanks.

Part of the issue is that the value of your labor isn't factored into your net worth, but for someone whose main job is to own a business, it is. So it makes the business owner look richer than someone who's just a worker, even though the worker actually has higher net wealth.

For example, an engineer who just started working for a company with a salary of $100k should be considered wealthier than someone who owns a small business and is bringing in $50k profit a year, but when we do net worth calculations the value of the business is counted but hte value of your skills as an engineer isn't

That didn't answer the question. Income tax is still income tax.
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DeadBankerDream
10/25/19 1:02:02 PM
#31:


pls posted...
Maybe now the left will finally understand that these guys are just temporary billionaires. They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.

Are you having a stroke or is this nonsense normal for you?
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Annihilated
10/25/19 1:07:51 PM
#32:


CruelBuffalo posted...
MacadamianNut3 posted...
pls posted...
They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.
Thanks for pointing out the obvious and for your service



It's cute that some of you are acting like this is common knowledge to you when in reality we have to explain this sort of thing to you all the fucking time.
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Smashingpmkns
10/25/19 1:10:17 PM
#34:


pls posted...
UnholyMudcrab posted...
If his net worth is still north of $100 billion, I don't think that "temporary billionaires" was necessarily the phrase you wanted to use there.


Yeah and if Amazon gets broken up or goes down the way Sears has, what do you think will happen to his net worth? It's mostly illiquid.


I want to live in this alternate universe in which Amazon could go under like Sears did that you just made up
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Malfunction
10/25/19 1:11:02 PM
#35:


pls posted...
Maybe now the left will finally understand that these guys are just temporary billionaires. They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.

Damn you're right those poor guys
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pls
10/25/19 1:11:46 PM
#36:


Malfunction posted...
pls posted...
Maybe now the left will finally understand that these guys are just temporary billionaires. They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.

Damn you're right those poor guys


It's more that applying a wealth tax on net worth could be catastrophic, since it would mean having to sell pieces of the company in order to pay a tax.
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pls
10/25/19 1:13:13 PM
#37:


Smashingpmkns posted...
pls posted...
UnholyMudcrab posted...
If his net worth is still north of $100 billion, I don't think that "temporary billionaires" was necessarily the phrase you wanted to use there.


Yeah and if Amazon gets broken up or goes down the way Sears has, what do you think will happen to his net worth? It's mostly illiquid.


I want to live in this alternate universe in which Amazon could go under like Sears did that you just made up


It could absolutely happen. Who would have expected Sears or GE to fall so much? Get outta here.
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legendarylemur
10/25/19 1:13:45 PM
#38:


Lol @ thinking Amazon will go down like Sears did. There isn't even a glimmer of a new competition with Bezos himself being more than set for life. The title of being the richest doesn't mean anything in the grand scheme of things

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pls
10/25/19 1:14:44 PM
#39:


legendarylemur posted...
Lol @ thinking Amazon will go down like Sears did. There isn't even a glimmer of a new competition with Bezos himself being more than set for life. The title of being the richest doesn't mean anything in the grand scheme of things


Sears had an extremely powerful position for a very long time. Meanwhile Amazon already faces competition. In both retail and cloud services.
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konokonohamaru
10/25/19 1:16:42 PM
#40:


Amazon isn't invincible and they too will fail one day. But I think we're not even past the peak yet. They've got a long way to go with their dominance, imo.
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Questionmarktarius
10/25/19 1:16:57 PM
#41:


pls posted...
legendarylemur posted...
Lol @ thinking Amazon will go down like Sears did. There isn't even a glimmer of a new competition with Bezos himself being more than set for life. The title of being the richest doesn't mean anything in the grand scheme of things


Sears had an extremely powerful position for a very long time. Meanwhile Amazon already faces competition. In both retail and cloud services.

Sears was undermined by a CEO who stood to gain more if the company failed, by selling off the real estate.
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#42
Post #42 was unavailable or deleted.
Prismsblade
10/25/19 1:17:40 PM
#43:


Annihilated posted...
CruelBuffalo posted...
MacadamianNut3 posted...
pls posted...
show hidden quote(s)
Thanks for pointing out the obvious and for your service



It's cute that some of you are acting like this is common knowledge to you when in reality we have to explain this sort of thing to you all the f***ing time.



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Smashingpmkns
10/25/19 1:17:58 PM
#44:


pls posted...
Smashingpmkns posted...
pls posted...
UnholyMudcrab posted...
If his net worth is still north of $100 billion, I don't think that "temporary billionaires" was necessarily the phrase you wanted to use there.


Yeah and if Amazon gets broken up or goes down the way Sears has, what do you think will happen to his net worth? It's mostly illiquid.


I want to live in this alternate universe in which Amazon could go under like Sears did that you just made up


It could absolutely happen. Who would have expected Sears or GE to fall so much? Get outta here.


Not in Jeff Bezos' lifetime.
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SpudForce
10/25/19 1:18:50 PM
#45:


That's a shame, I guess he only has enough spare cash lying around to buy 9 private jets instead of 10. How the mighty have fallen....

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Questionmarktarius
10/25/19 1:19:10 PM
#46:


konokonohamaru posted...
Amazon isn't invincible and they too will fail one day.

Amazon's decline began when they stopped evading sales tax.
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Webmaster4531
10/25/19 1:20:09 PM
#47:


pls posted...
Malfunction posted...
pls posted...
Maybe now the left will finally understand that these guys are just temporary billionaires. They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.

Damn you're right those poor guys


It's more that applying a wealth tax on net worth could be catastrophic, since it would mean having to sell pieces of the company in order to pay a tax.

Then how about we collect it at the point of death and transfer to an heir?
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Annihilated
10/25/19 1:21:09 PM
#48:


pls posted...
legendarylemur posted...
Lol @ thinking Amazon will go down like Sears did. There isn't even a glimmer of a new competition with Bezos himself being more than set for life. The title of being the richest doesn't mean anything in the grand scheme of things


Sears had an extremely powerful position for a very long time. Meanwhile Amazon already faces competition. In both retail and cloud services.


Amazon's biggest cloud competitor is Google, and salary for Google Cloud is nowhere near the AWS range. It's still red hot in the tech world.
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pls
10/25/19 1:21:52 PM
#49:


Questionmarktarius posted...
pls posted...
legendarylemur posted...
Lol @ thinking Amazon will go down like Sears did. There isn't even a glimmer of a new competition with Bezos himself being more than set for life. The title of being the richest doesn't mean anything in the grand scheme of things


Sears had an extremely powerful position for a very long time. Meanwhile Amazon already faces competition. In both retail and cloud services.

Sears was undermined by a CEO who stood to gain more if the company failed, by selling off the real estate.


Its collapse happened way before that. It didn't happen overnight. The Titans of industry always get disrupted and taken over. The cycle will repeat for as long as we need to work on stuff.
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pls
10/25/19 1:22:31 PM
#50:


Annihilated posted...
pls posted...
legendarylemur posted...
Lol @ thinking Amazon will go down like Sears did. There isn't even a glimmer of a new competition with Bezos himself being more than set for life. The title of being the richest doesn't mean anything in the grand scheme of things


Sears had an extremely powerful position for a very long time. Meanwhile Amazon already faces competition. In both retail and cloud services.


Amazon's biggest cloud competitor is Google, and salary for Google Cloud is nowhere near the AWS range. It's still red hot in the tech world.


AWS has serious competition from GCP and from Azure. And before long others will rise up too, like Digital ocean (which has been making strides)
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Questionmarktarius
10/25/19 1:24:53 PM
#51:


Walmart is finally getting its shit together with online retail, which can't be good for Bezos.
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