Easy - just compare the size of the list from 2020-21 to 2023.
> 2,640 billionaires with a total net wealth of $12.2 trillion in 2023
> 2,668 billionaires with a total net wealth of $12.7 trillion in 2022
> 2,755 billionaires with a total net wealth of $13.1 trillion in 2021
That makes it what atleast 115 billionaires who lost wealth from 2021-23. There would be more with newer entrants.
A word about how Forbes calculate billionaires[1]. If a person is a brand and makes $100M or so a year, they are counted as a billionaire too.[2][3](from the same article).
If the stock goes up due to low interest rates, how does it makes it a wealth transfer? Snowflake was valued at 100x revenue at one point. Then market corrected and brought it down to say 10x. Whoever was holding it saw their wealth reduced by 10x. Do you think this wealth was transfered to someone else? To who?
> 2,640 billionaires with a total net wealth of $12.2 trillion in 2023
> 2,668 billionaires with a total net wealth of $12.7 trillion in 2022
> 2,755 billionaires with a total net wealth of $13.1 trillion in 2021
That makes it what atleast 115 billionaires who lost wealth from 2021-23. There would be more with newer entrants.
A word about how Forbes calculate billionaires[1]. If a person is a brand and makes $100M or so a year, they are counted as a billionaire too.[2][3](from the same article).
[1] https://www.bloomberg.com/opinion/articles/2023-11-09/adam-n... [2] https://www.bloomberg.com/opinion/articles/2023-10-30/two-si... [3] https://www.bloomberg.com/opinion/articles/2022-10-26/musk-w...
If the stock goes up due to low interest rates, how does it makes it a wealth transfer? Snowflake was valued at 100x revenue at one point. Then market corrected and brought it down to say 10x. Whoever was holding it saw their wealth reduced by 10x. Do you think this wealth was transfered to someone else? To who?