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submitted 1 year ago* (last edited 1 year ago) by nothingcorporate@lemmy.world to c/socialism@lemmy.ml

Hi comrades, I'm new here, how do we feel about posting Mastodon content on Lemmy?

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[-] Steve@lemm.ee 0 points 1 year ago

Most of this wealth is in stocks, though. Their worth is based on the number of shares they own of these companies. For every share they sell the value of the other shares drops a bit. So if Musk or Bezos sold all their shares, to have this money in actual cash, not only would they probably bankrupt their company and crash the stock market, but the cash they got out of it would be only a fraction of what this shows on paper now.

[-] Steve@lemm.ee 0 points 1 year ago

I’m not sure how to edit comments so I’m adding this… I agree with the sentiment and how insanely low the minimum wage is. But these billionaires don’t actually have the amount of money most people believe they have. Functionally, it’s nowhere close.

[-] 133arc585@lemmy.ml -1 points 1 year ago

But these billionaires don’t actually have the amount of money most people believe they have. Functionally, it’s nowhere close.

What do you mean by this?

this post was submitted on 14 Jun 2023
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