LogFAQs > #890145518

Giant_Aspirin posted...

it's also important to recognize that for at least Gates and Bezos, the vast majority of their "wealth" is in the form of stocks. if they suddenly liquidated all of their stock, it would destroy the value of said stock.

That's a "not really" concept. The value of assets that appreciate in value are seen as better than cash as it normally loses value over time due to inflation. That's why normally a big selloff of stocks makes a lot of people think the stock doesn't have as much value anymore because you're trading it for the inferior product and the price drops.

Conceptually this would be a forced transfer so the perception that the stock doesn't have value anymore may not take effect.

That's the punchline, so much "wealth" is tied to our perceptions. These guys are mega rich and get richer because they own things that only have a high and increasing value because we collectively say things they own have high and increasing value. Meanwhile we buy things that lose it quickly because we act like 6 month old tech is worthless.
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