Birdwatch Note Rating
2024-05-01 06:54:20 UTC - HELPFUL
Rated by Participant: BAA39C71844E7165C0346A5153CD1480E508FECC758F424EC6BBA60C610F5EEE
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Original Note:
The "wealth" of top 1 % in question includes fair value of equity held in corporates. This value is speculative and volatile in nature. This phenomenon is also called as "paper wealth". They often face steep fall in value. Comparing such paper wealth is often misleading. https://www.businessinsider.in/finance/news/elon-musks-wealth-has-crashed-by-160-billion-from-its-peak-as-teslas-problems-pile-up/articleshow/109370094.cms https://www.forbes.com/sites/siladityaray/2023/02/03/how-gautam-adani-lost-more-than-60-billion-in-just-10-days-and-his-ranking-as-asias-richest/?sh=6a0c61e260c3
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