Posted on 03/16/2023 1:13:20 PM PDT by Red Badger
Charles Schwab’s fortune has gone down considerably after SVB’s collapse. No American billionaire lost more than he did in 2023. Ahh…Charles needs to become less WOKE.
“According to the Bloomberg Billionaires Index, which monitors the real-time wealth of the richest people on earth, Schwab has personally lost around $3 billion in the wake of SVB’s failure,” reports Yahoo.
Charles Schwab Corp.
Yahoo reports, Charles, “who founded discount brokerage Charles Schwab Corp. in 1971, now has a net worth of $9.99 billion, according to Bloomberg’s estimates, making him the 183rd wealthiest person in the world.
“The Bloomberg Billionaires Index shows that Charles’s fortune fell by 7.7% on Monday thanks to the brokerage’s tumbling share price—a personal loss of $828 million.”
He had a big stake in SVB, the Silicon Valley Bank for billionaires. Don’t worry; Biden will bail him out through the FDIC and the Treasury, which somehow won’t be US taxpayer money. Although, the government has no money, just taxpayer money.
THE WOKE STOCK NOSEDIVED
Charles’s stock nosedived with the bank’s failure. Schwab is still confident in their approach, and you should still trust them.
“Schwab’s long-standing reputation as a safe port in a storm remains intact, driven by record-setting business performance, a conservative balance sheet, a strong liquidity position, and a diversified base of 34 million+ accountholders who invest with Schwab every day,” Schwab and Bettinger said. “As such, we remain confident in our approach and in our ability to help clients through all kinds of economic environments,” Yahoo reports.
I think we should start a fund raiser for this poor woke smuck
oh wait.. I dont care ;)
“ Schwab has personally lost around $3 billion in the wake of SVB’s failure,” reports Yahoo.”
He’s supposed to be so smart and he was snookered by crooked woke libtards.
Yikes my trading account is with them.
This is the actual dude Charles Schwab who lost $3B of his personal net worth (lost value in stock holding prices, just paper), not the brokerage
“Charles now has a net worth of $9.99 billion, according to Bloomberg’s estimate”
Poor unfortunate fellow. I’d gladly swap bank accounts with him if he needs to.
He is going to die soon......and those billions won't do anything for him.
And yet, Schwab the company is getting investors moving to them, because they are financially very conservative.
Does that mean we’ll see him out panhandling somewhere?
$9 billion doesn’t go far today.
Schwab stock took a dive the other day so I wasn’t sure if this was connected to that or not.
Not to worry, you and the kid working at McDonalds will bail him out.
That's about a 23% hit ... nobody is going to be happy about that ...
lost value in stock holding prices
Important point. It means the "loss" may in fact be completely meaningless.
Paper loss about as meaningful as a paper gain
When he gets down to only $100 to his name, I’ll start feeling sorry for him.
I used to have a Charles Schwab account. One morning I had an appointment at 9am at their offices in the basement of North Tower of the World Trade Center. At 8am I got a call that the employee (from NJ) was out sick, and we rescheduled. Good for both of us, as it was 9/11/2001.
It only means something when you trade.
“ Yikes my trading account is with them.”
********************************************
Not to worry, that’s perfectly safe. What Charles Schwab (the man) lost was most (if not all) of the value of the PERSONAL shares he held in SVB. Unlike SVB’s depositors who won’t lose anything, the shareholders in the SVB bank have lost essentially almost all the value of their stock.
“Here is a dime…”
You know the rest.
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