The rich get richer.
Not surprising for me, have been hearing the same narrative for months now, and I do believe part of it is true (they're buying the dip).
It's simple. They do "afford to lose". They do afford to wait and sell only when they're on profit.
They have people good at trading and even if by tough chance they lose in one place, they cut loses early and they earn from another asset to cover the loses.
It's easy to diversify and do the things right when you're so rich you should simply stay away and do something else (enjoy life on Earth, make a "city break" on Mars, whatever..)