Quote from: Stablexcoin on November 26, 2024, 10:58:50 PM

Quote from: MrEazyLife on November 02, 2024, 11:28:28 AM

Personally I’m finding it difficult to believe a billionaire can go broke due to the worse state of an economy. When I mean broke. To the extend of selling off properties and barely afford a living.

That's a personal reasoning though am not against it. What makes a billionaire go broke is not the state of the economy. The reason is that the same economy that the poor are complaining about is ruled by the billionaires in power. A billionaire is likely to have a huge production company or a company that renders huge services. A company like that has almost 0% of getting broke due to economic factors. As inflation increases the price of the goods or services will increase to still yield maximum profit. Most times the state of the economy favors the company more because they use that as an excuse to increase the price of the goods and services massively. Which only a few people can be able to purchase. One thing I have noticed about a country with high inflation is that the price of things never goes back the same after every rise. It's more likely that it will retain the same price or perhaps increase more. Still, this same situation will favor the billionaire rather than making him poor. My conclusion on the whole matter is the fact that the economic situation is not a huge factor for a billionaire to go broke to nothing. It's impossible theoretically.

We are talking about a very difficult possibility, but it is not impossible for this to happen. Such a thing would take a very long time because a billionaire's income does not come from just one source, and although it is very difficult for all of his sources to go bankrupt, these bankruptcies take many years to happen. Since the amount of money we are talking about is in the billions, we should not underestimate this amount.

The economy has generally become a structure that protects large companies and the rich. Depending on the size of the money, great advantages can be obtained. It does not seem very possible to use all of these advantages in a negative way and for a billionaire to go bankrupt.