The global population of ultra-high-net worth individuals increased 8% last year, according to Altrata, and much of that growth was in the U.S.
  • mozz@mbin.grits.dev
    112·
    4 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

    • originalfrozenbanana@lemm.ee
      101·
      4 months ago

      I guess the difference there is that the wealthy can take out loans and secure assets like houses against their stocks but yes the stock market isn’t real

      • popcap200@lemmy.ml
        6·
        4 months ago

        I mean, regular people can do that too, just not to the same extent. Robinhood is offering 6.75% now on margin loans, and IBKR has like 6.85% or so.