Billionaires On The Brink: How The Forbes 400 Makes And Loses Billions During Market Crashes

  • 📰 Forbes
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

Billionaires on the brink: How the Forbes400 makes and loses billions during market crashes

Fortunes are often forged, or fumbled away, in the fire of economic downturns. When the Covid-19 pandemic began to sweep the world in early 2020, the wealth of U.S. billionaires plummeted in lockstep with the stock market.

As a huge wave of consumers around the globe joined the internet, rabid investors hoping to get in on the tech boom poured funds into wildly unprofitable startups promising to change the world. The S&P 500 hit a record high in March 2000. Then the bubble began to burst, sending the S&P down 50% over the next two and a half years. Jeff Bezos began an April 2001 letter to Amazon shareholders with a single word: “Ouch.

. “I didn’t learn anything. I already knew that I wasn’t supposed to do that. I was just an emotional basketcase and I couldn’t help myself.”He got rich selling internet radio company Broadcast.com to Yahoo for $5.7 billion in cash and stock in 1999—near the top of the dot-com bubble. Then he made an even smarter move, using collars to protect his Yahoo stock from a price drop, which soon came when the shares plummeted 90% in 2000.The investor who helped build Oppenheimer & Co.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Donald Trump wants recover PUBLIC MONEY STOLEN by tax evasion to finance NEW product & organizational MODELS : spatial & town planning-direct & economic democracy-social ecology-research American Congress estimates the amount of TAX EVASION in USA at $ 5 ooo billion each YEAR

the only way for humanity to survive is by doing away with the billionaires

Available: Weight Loss for PCOS women

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in BUSİNESS

Business Business Latest News, Business Business Headlines