5 ms·
> despite having the distinction of losing the most money in history (approximately $70bn during the dot com crash of 2000).[3] He didn't lose $70B. His net wo
by davidreiss 9y ago
> despite having the distinction of losing the most money in history (approximately $70bn during the dot com crash of 2000).[3]
He didn't lose $70B. His net worth dropped $70B because of short term stock fluctuations during the dotcom collapse.
He never had $70B to lose. It was all paper wealth tied to the market valuations of his companies.
A subtle but important distinction.
- soared 9y ago> paper wealth What wealth is not paper wealth?
- codegladiator 9y agoTruck full of bananas