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© 2022 AFPTech billionaires see wealth shrink amid 2022 stock crunch
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© 2022 AFP
27 Comments
Mark
Wow, even the brightest of the brightest have taken a beating in 2022, but many experts see a light at the end of COVID tunnel, let us hope that things will turn around in the next 2 to 3 years.
tora
2025, SPARS (World Economic Forum).
TokyoLiving
Of all those, the worst CEO in 2022 is Elonald Clown..
nishikat
Elon better shape up, otherwise the only good thing Tesla will have to offer is for daytraders and not real investors. You want long term investment? Go with GM, Ford, or Toyota. Tesla is for daytraders and they are down 70 this year. They just make cars.
Blacklabel
you really trying to childishly mock this guy?
nishikat
That's nothing. Bitcoin was up by one million percent and what happened?
Tesla is good only for daytrading. Lots of Tesla millionaires such as yourself (like lots of Coin millionaires too) but I would never touch it now just like I would never touch Coin. They can't even service their own vehicles. Testa is down about 70% YTD. They are not worth touching now.
wallace
Tesla stock
2008 $21.11. 2022 $121.82
Peak Nov 2021 $407 during Biden's term
Should have sold all of last year
Musk lost more than $1 billion
Blacklabel
Zuckerberg stock down just as much as Tesla this year, never heard a peep of any criticisms of his performance as CEO. How odd.
nishikat
Tesla is not worth investing now. Other car companies are catching up. Musk didn't even create Tesla. Tesla is priced out of the general car buyer while other car companies (who service their own cars unlike Tesla which has to rely on service from GM dealers) are making them more affordable. And what is happening with Teslas Semis? Also, no Tesla Cybertruck? Don't buy Tesla unless you are a day trader.
wallace
If you bought Tesla stock in 2008 and sold it Nov last year, you did very well. Many did not do that.
nishikat
OK (sorry) I never use FB just like I would never buy a Tesla unless I were rich. Don't invest in FB. FB is only good for Daytrading. If you value your money don't invest in FB or Tesla unless you want to daytrade.
There
nishikat
Yes, Tesla is good for daytrading. Congratulations. Certain people are good with daytrades and I am not one of them. FB is up today too. I knew it would do that.
Moderator
Readers, please don't get obsessed with Tesla and Musk, as some of you did yesterday. This story is not just about Tesla.
Nemo
I'm going to claim that its mathematically impossible for a stock to decline in value on a percentage basis more than 100%.
So a 75% decline in stock price in a year is much more impactful on the stockholders than what ever increase it attained in the previous years when its market capitalization was higher than that of Toyota in spite of the fact that it delivered an inventory in the 10s of thousands and Toyota delivered an inventory in the tens of millions.
But for a speculative day trader, its not surprising that the ignorant are incapable of differentiating paper profits due to speculation and fan-boi worship and actual profits from the actual production of actual goods and services that add actual value.
Viktor Cernatinskij
They well deserve to lose money...
Blacklabel
Im actually going to purchase a Tesla next week or so with the money I made last night with Tesla (and one other) stock. Sounds reasonable to me to do so. Thanks Elon!
Nemo
But the extended warranty because lately the build is crap.
Spring for a fire extinguisher too because you never know when the car is going to spontaneously combust.
wallace
This year, Big Tech fired tens of thousands of workers. All the CEOs have lost billions in stock value. More to come on 2023.
BertieWooster
OMG! Americans are such bad losers!
Blacklabel
With Biden in charge of the economy? Absolutely.
that’s why you buy now cheaply to get rich in 2025.
wallace
Gold will be the commodity for 2023.
Blacklabel
Possible, yeah.
wallace
Billionaires lost a large fortune this year. $1.2 trillion.
bass4funk
Not just Americans, money has no color, gender or nationality.
Isn’t it?