this post was submitted on 19 Jul 2024
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A Boring Dystopia

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[–] [email protected] 3 points 9 months ago (2 children)

They didn’t gain $49 trillion. Their total wealth is $49 trillion. Still terrible but the article’s headline is misleading.

[–] [email protected] 1 points 9 months ago* (last edited 9 months ago) (1 children)

Yeah, the article says the rich got 7% richer in 2023 for a total of $49b.

That's about $3-4b gained in 2023.

[–] [email protected] 0 points 9 months ago (1 children)

Trillion, not billion, but yeah

[–] [email protected] 1 points 9 months ago

Imperial trillion, metric billion.

In the US of A, 1T = 1.000.000.000.000 (1B is 1.000M, and so forth)

In the metric system, 1T= 1.000.000.000.000.000.000 (1B = 1.000.000M, and so forth)

That's why in other languages you sometimes hear "a thousand million", although I agree with you in that the most common way of counting on the internet is with imperial billions.

[–] [email protected] 1 points 9 months ago

Yes

Nobody will say they lost $49 trillion if stock go down next week

They cannot get $49 trillion out of the market by selling all their stocks

It's just a weird misleading framing

[–] [email protected] 1 points 9 months ago

We should start a successful Occupy Wallstreet.