Millionaires

[Arnold_Lane 0]

1 hour ago, Mister Gee said:

https://www.bloomberg.com/news/articles/2020-07-20/jeff-bezos-adds-record-13-billion-in-single-day-to-his-fortune
 

$13 billion added to his fortune on one day (Monday).

Let that sink in.

It’s not like $13b in cash entered his account.  The share price rose.  Not surprising given the surge in online shopping during Covid.

[Tony 10]

59 minutes ago, Arnold_Lane said:

It’s not like $13b in cash entered his account.  The share price rose.  Not surprising given the surge in online shopping during Covid.

Your financial literacy is wasted here.  It's much better to be jealous for some in this town.

Edited July 22, 2020 by Tony

[carosio 186]

2 hours ago, Mister Gee said:

https://www.bloomberg.com/news/articles/2020-07-20/jeff-bezos-adds-record-13-billion-in-single-day-to-his-fortune
 

$13 billion added to his fortune on one day (Monday).

Let that sink in.

If you (or your private pension company) had invested in Amazon say 10 years ago I presume you would be delighted, but if the shares had gone the other way.....

[ECCOnoob 1,021]

6 hours ago, Mister Gee said:

https://www.bloomberg.com/news/articles/2020-07-20/jeff-bezos-adds-record-13-billion-in-single-day-to-his-fortune
 

$13 billion added to his fortune on one day (Monday).

Let that sink in.

I am not sure what I'm supposed to be "letting sink in".

 

Yes - It is a huge amount of money. But he owns one of the the biggest and most successful companies in the world right now.  Us consumers are continuing to use that company in our millions every day.  It's hardly surprising that there has been a surge in the share price.  All shareholders small and large would have benefited from a positive effect.  It is also of course at risk of dropping just as quickly as it rose.  

 

That is what happens when somebody becomes one of a few people over the history of time who happens to be founder(s) of an organisation or product that everybody globally  desires, purchases and uses.  Apple is an obvious example as is Microsoft as is Facebook.  

 

Should that success be something that is frowned upon or should they be embarrassed by it?   Should they stop being so successful and maybe deliberately perform poorly for a few years to balance it out?  Maybe us consumers should be denied our freedom of choice and be blocked from using such companies when they are deemed to have 'too many' customers or 'too much' profit.

Edited July 22, 2020 by ECCOnoob

[Mister Gee 813]

11 hours ago, Arnold_Lane said:

It’s not like $13b in cash entered his account.  The share price rose.  Not surprising given the surge in online shopping during Covid.

I didn’t say or quote anything that said that.

10 hours ago, Tony said:

Your financial literacy is wasted here.  It's much better to be jealous for some in this town.

How condescending.

[Litotes 63]

51 minutes ago, Mister Gee said:

I didn’t say or quote anything that said that.

How condescending.

But true - that South Yorkshire mentality - if it ain't invested here, it ain't worth the breath to talk about it...

Bah - Billions? - Bezos? - but he ain't from Barnsley!

[Mister Gee 813]

11 minutes ago, Litotes said:

But true - that South Yorkshire mentality - if it ain't invested here, it ain't worth the breath to talk about it...

Bah - Billions? - Bezos? - but he ain't from Barnsley!

Quoted for posterity.

Edited July 22, 2020 by Mister Gee

[Baron99 779]

14 hours ago, Mister Gee said:

https://www.bloomberg.com/news/articles/2020-07-20/jeff-bezos-adds-record-13-billion-in-single-day-to-his-fortune
 

$13 billion added to his fortune on one day (Monday).

Let that sink in.

And it's took Jeffrey Bezos 26 years to get to this point. Not bad for a bloke who took a risky loan of around $300,000 back in 1994 from his parents & had a bit of foresight. 

 

 

[Mister Gee 813]

20 minutes ago, Baron99 said:

And it's took Jeffrey Bezos 26 years to get to this point. Not bad for a bloke who took a risky loan of around $300,000 back in 1994 from his parents & had a bit of foresight. 

 

 

What was risky about it? 

[Baron99 779]

9 minutes ago, Mister Gee said:

What was risky about it? 

Would you have handed him, (or a member of your family), $300,000 to start a business selling books, basically mail order?  Especially when he investors that there was a 70% chance the business would fail. 

 

I probably wouldn't but then that's the difference between the likes of you, me & Bezos.

Edited July 22, 2020 by Baron99

[Mister Gee 813]

3 minutes ago, Baron99 said:

Would you have handed him $300,000 to start a business selling book, basically mail order?  I probably wouldn't but then that's the difference between the like of you, me & Bezos.

Probably not because I’m not his mum and dad.

[Baron99 779]

2 minutes ago, Mister Gee said:

Probably not because I’m not his mum and dad.

There were a few other early investors who also believed in Bezos who were prepared to take the risk & invest.  Think how many businesses fail in their first 2 years.  Some don't make it even to that stage without the founders getting out there, putting the hard work in over the years & making many sacrifices along the way.