BurnOutBrighter6 t1_j2crbq1 wrote
Reply to comment by ChickenEnthusiast in ELI5: Tech billionaires lost $400 billion this year. Where does it go? Does anyone gain? by ChickenEnthusiast
>level 4ChickenEnthusiastOp · 4 min. agoSo it's like we should stop talking about "the richest/wealthiest person" and start talking about "the person with the highest valued assets
Exactly! For a recent example, see Bernard Arnault (owner of Louis Vuitton) passing Elon Musk this year for "world's richest" person - not because LV sold a bunch of merchandise, but because the things Elon owns became less valuable to potential buyers due to his damaging of them. In the earlier analogy it's like he dropped his own trading cards in the mud and "lost money" because their value decreased.
As for your second point, no I'm not aware of such a metric, but I agree that it would be useful and intriguing to see. Maybe someone else here can inform us. I imagine the problem would be where to draw the line re: "consistently valued". If gold is included, what about silver? Copper? Bonds? It could get complicated.
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