, Capgemini found that individuals with net worths between $1 million and $5 million lost less than those with net worths over $30 million and billionaires during that market rout.
"It's the risk versus reward scenario," Capgemini's Deputy Head of the Global Financial Services Market Intelligence Strategic Analysis Group Chirag Thakral told in July. "Where in a good market [billionaires] are the ones leading the growth, in a bad market, they're the ones who are affected the most."Robert F. Smith on becoming the richest black man in America, what companies get wrong about diversity, and what he's doing to help mint more black billionaires
Corona virus = God's revenge on the wealthy
Seriously? “Feel more pain” and “lose more money” are not the same thing. The diminishing marginal utility of income and wealth has been a pretty basic idea in economics since at least as far back Alfred Marshall.
Where did the $100b go?
I don't know I've lost tens of thousands from my retirement account. All my contributions and gains from 2019 are gone.
It's only a loss if you sell
Bc they own more stock than the average person...
Not just the ultra wealthy. My mother's new husband made some money in the stock market but is losing a ton of it now. He's not rich. He's just a regular person.
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