SpaceX IPO Makes Elon Musk World's First Trillionaire (reuters.com) 315
An anonymous reader quotes a report from Reuters: Few business leaders have been as deeply embedded in popular culture as Elon Musk, the ambitious entrepreneur who has become a central figure in internet culture and amassed a fortune that has made him the world's first trillionaire. At a time when concerns about inequality are high and public attitudes toward the ultra-wealthy have soured, Musk has managed to retain a loyal following despite his stratospheric net worth and without the folksy persona that endeared other tycoons such as Warren Buffett to the masses.
While admirers view Musk's no-filter style as part of his appeal, critics have accused him of wielding oligarch-like power, raised concerns about governance at his companies and objected to his increasingly partisan political interventions. Still, SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the center of Musk's empire, raised a record $75 billion in its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures. Prior to the share sale, Forbes pegged his net worth at roughly $780 billion, far ahead of the man next in line, Alphabet co-founder Larry Page.
"The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow," said Matt Durot, deputy editor at Forbes Wealth. "And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion." Most of Musk's wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion. Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Forbes and Reuters calculations based on company filings.
While admirers view Musk's no-filter style as part of his appeal, critics have accused him of wielding oligarch-like power, raised concerns about governance at his companies and objected to his increasingly partisan political interventions. Still, SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the center of Musk's empire, raised a record $75 billion in its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures. Prior to the share sale, Forbes pegged his net worth at roughly $780 billion, far ahead of the man next in line, Alphabet co-founder Larry Page.
"The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow," said Matt Durot, deputy editor at Forbes Wealth. "And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion." Most of Musk's wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion. Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Forbes and Reuters calculations based on company filings.
Congrats to Mr. Musk (Score:5, Funny)
Re:Congrats to Mr. Musk (Score:5, Insightful)
You're a role model for everyone.
While I would love to have "fuck you" levels of money, I can't really wrap my head around the idea of one individual having "fuck all of you, plus the Earth, and quite possibly the entire solar system if I get my way" money. That seems a step too far into greed to be enviable.
Re: Congrats to Mr. Musk (Score:5, Insightful)
A step? A single step? You donâ(TM)t think it was already a few steps too far when we decided that one individual was worth the same as 3,000 normal people? So much that they could spend $200,000 a day and not get any poorer? Now he apparently is as valuable to us as 3,000,000 ordinary people, and can spend a fifth of a billion dollars a day without losing any value. How is that only one step too far? I get that people around slashdot donâ(TM)t like that commy shit, but how on earth do they think this outcome of capitalism is in any way justified?
Re: Congrats to Mr. Musk (Score:4, Insightful)
A step? A single step? You donâ(TM)t think it was already a few steps too far when we decided that one individual was worth the same as 3,000 normal people? So much that they could spend $200,000 a day and not get any poorer? Now he apparently is as valuable to us as 3,000,000 ordinary people, and can spend a fifth of a billion dollars a day without losing any value. How is that only one step too far? I get that people around slashdot donâ(TM)t like that commy shit, but how on earth do they think this outcome of capitalism is in any way justified?
In essence, I agree with you, and was using sarcasm to express it. It's been a step too far since long before Elon started piling corpses for profit with his government meddling, but getting hyperbolic about it just reinforces the rich worshipers' view that us poor people are just irrationally hate-filled idiots.
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Empathy is the enemy, we know this because Elon Musk said so.
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It mostly makes for interesting headlines, such as the inevitable "Elon loses $200 billion in stock market downturn". Nothing is lost, or gained, until you sell. SpaceX will be powerful not due to market capitalization, it will be because they build something that works and is desireable.
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I get that people around slashdot donâ(TM)t like that commy shit, but how on earth do they think this outcome of capitalism is in any way justified?
Because it has elevated the other 99% out of the depths of horrific poverty better than any other system out there.
When the only thing you focus on is the side effects, you quickly lose focus of the benefit to the greater good. Which is more your problem. Not Capitalisms.
Re: Congrats to Mr. Musk (Score:4, Interesting)
Uhhhh... I'm sorry, what? No it hasn't. Generally, the more socialist areas of Europe have had far lower poverty rates than the more capitalist areas, and America. Unchecked capitalism has been an absolute disaster for poverty.
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Because it has elevated the other 99% out of the depths of horrific poverty better than any other system out there.
Sure, but for the past 50 years, the poor have been getting poorer, not being lifted up by the 'rising tide'. Corporations have been consolidating and now there is almost no genuine competition and the prices have increased in lockstep.
In other words, this is demonstrably no longer Capitalism.
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(not the parent) I think that _was_ what they meant.
The "as valuable to us as" makes reference to his net worth.
The average net worth of a US citizen is probably around $192,000 ("probably" because I pulled that number out of somewhere barely better than my ass - google AI results).
If the average net worth per-person was about $333k, then 3 million people's combined net worth would be $1 trillion.
If we use an average net worth of $192k, then 1trillion / 192k = 5,208,000 people.
IE: Musk's net worth is equal
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Re:Congrats to Mr. Musk (Score:5, Interesting)
Re:Congrats to Mr. Musk (Score:5, Interesting)
The mystique of his companies is that Elon Musk alone is capable of driving the value. People used to think he could walk on water, and despite his own self-inflicted harm to his personal brand with his ill advised foray into politics, they still think he can drive success. The entire value of his shares is based heavily on him being CEO. If he were to walk away, they would tank.
On top of that, as major insider, the SEC would not allow him to sell his shares without notifying the markets of his intention to do so weeks in advance. That gives the markets time to react not just to his departure, but him dumping his shares would dramatically increase the supply of those shares at the same time as lowering the perceived value of those companies with his intended departure. The stock price would crater before he could liquidate them, so he wouldn't end up with nearly the amount of cash with this.
On top of all of that, and this is in the filings, roughly 90% of his stock which is tied up in this trillion dollar valuation is restricted or unvested, based on hitting certain performance objectives. If he walked away tomorrow, roughly 90% of his stock, which is illiquid, he'd forfeit back to the company as they haven't vested yet. For example, much of his SpaceX stock is tied to [fortune.com]:
1) Mars colonization - the establishment of a permanent human settlement on Mars with 1 million inhabitants
2) Space compute - the operation of non-Earth based data centeres providing at least 100 terawatts of annual compute capacity
3) Market Capitalization - that SpaceX reaches a series of corporate value milestones (there are 15 total, some vest at each tranche). the first corporate valuation goal is $7.5 trillion, and they all go up from there.
So it's also a bit of a misnomer for him to be "worth $1 trillion" when 90% of it is tied to goals that are unachievable like a 1 million-inhabitant colony on Mars or building 100 terawatts of computing power in space when it's not clear if the AI market even needs that and that Grok's services are lagging behind Anthropic and OpenAI (hence why he is leasing his data center capacity to Anthropic [yahoo.com], Grok's usage is too low and he needs to pay for that infrastructure). What is notable though is that while they have not vested, Musk does have voting rights for those shares [businessinsider.com].
Now do you see the game he's playing? He can vote on the company objectives with his Class B shares, which similar to Zuckerberg's shares have 10 votes for every 1 of normal shares. So despite not directly owning those shares and they may not vest at all, it gives Musk 82-85% of the shares' voting power to nominate Board members and control the company. Even if he fails to achieve those, he effectively controls it no matter what, which is what this is all about. The broader question though is will the public markets take him at his word. The public markets are much more brutal about what CEOs say, and he runs his mouth in ways that already got him in trouble once with the SEC. Given the size of SpaceX now, he's a significant part of the major indices; the SEC will crack on him even harder if his drug fueled X-posting moves the stock in the wrong way and affects the broader market indices.
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Grok's usage is too low
That must be why every time I ask a second question in Grok, it says "Server are overloaded; try again later". Blah. When it works, it's fine, but I get much more reliable [free tier] results from ChatGPT.
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Not anymore. Public companies come with a bunch of restrictions on insiders selling their stock. Even if he did, he wouldn't get anywhere near a trillion dollars for it.
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Everybody whose net wealth is high enough for someone else to estimate it is a pretend -ionaire. That's how Elon Musk went from being not-a-trillionaire yesterday to a trillionaire today.
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Then We The People need (or have needed) to become post-newspaper, indeed post-any-sort-of-centralized-media, since all centralizations are pressure points for coercion and compromise.
Make Usenet Great Again? There is No Cab-NO CARRIER
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You think this is about greed?
Are you five years old?
Everything in our political and economic system is about greed and how best to justify it. If you don't see the link between this story and greed, I question your ability to process information.
Re:Congrats to Mr. Musk (Score:5, Insightful)
LOL
It's crazy how the righties are still on with their shit while we watch their leaders completely abandon everything they're supposed to stand for and literally turn the peoples house into a gd circus.
In backwards upside down world we all love inflation, Clean coal, and $100 tanks of gas.
At what point do you guys realize you've been fooled? Minting a trillionaire while you pay $500 for groceries and subsidize your local datacenter with your energy bill still aint enough?
Maybe the next dumbass foreign war of choice will finally push them over the edge?
Re: Congrats to Mr. Musk (Score:3, Insightful)
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YES
NO, that's retarded.
Re: Congrats to Mr. Musk (Score:5, Insightful)
The problem is not paper wealth. It's connecting wealth to power. Elon Musk donated more than a quarter of a billion dollars to support Trump's campaign and is spending a bunch on the US midterms too.
Modern democracies have strict political donation limits because they recognize this problem. In the US the limit is $3300 per candidate per election, with total annual caps, and a ban on corporate donations. BUT, there are lots of clever workarounds that nobody involved cares about closing.
Re: Congrats to Mr. Musk (Score:4, Interesting)
The problem is not paper wealth. It's connecting wealth to power.
The real mindblower is the valuation that the stock market is willing to give to SPCX. The PE ratio is ... undefined since there aren't profits yet. The ~$20 billion in annual revenue doesn't support a $2.2 trillion valuation. As with TSLA, the current numbers don't make sense, so the stock price is purely speculation about explosive future growth. Space launches don't come close to supporting the valuation, even with wildly optimistic projections for future growth. Only Starlink has an argument to support the outsized valuation, and SPCX valuation is currently more than 4x the combined stock capitalization for Verizon, AT&T, and T-Mobile, with a market that will be a small fraction of the total cell market for many years to come.
Then again, crypto has even less rationality behind valuation, so I guess TSLA and SPCX are much more sane relatively speaking.
Crypto is money laundering (Score:3)
There is literally nothing to justify the valuation here. Satellite internet is never going to beat wired internet. If you start to get enough customers that satellite internet could be very profitable the end result will be somebody runs a wire to that City and you lose those customers.
The current valuation is bas
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It's about Power. Extending his wealth increases what he is capable of and deprives the rest of us the opportunity to do likewise.
Who is "the rest of us"? Do you even realize that he has twice now turned most of his employees, even line workers, into multi-millionaires? Some of whom have since gone on to form their own companies and do the same?
And what's the remedy you want for this? You want to ban people like him from creating a successful business, not once but multiple times, so that none of this can ever happen again?
We've seen what happens when entire countries do things your way, by the way. Do you know what the outcome has al
Re: Congrats to Mr. Musk (Score:5, Interesting)
The only reason he has these companies is because of socialism. He has received billions in taxpayer money to keep his companies alive.
Side note, the same federal agency doling out taxpayer money to him is the same one he targeted under DOGE [trellis.net].
Double side note, Musk whined about another stimulus package after covid, while taking an unknown amount of money from the U.S. taxapyer [dailymail.com] during covid despite his company being worth $270 billion at that time.
For a slightly longer version of the amount of money the socialist has taken from the U.S. taxpayer, read on [thestreet.com].
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Then we should see similar types of companies and similar levels of wealth in *actual* socialist systems, but yet we don't.
Re: Congrats to Mr. Musk (Score:3)
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This is why there needs to be a 98% wealth tax on assets over $100M and 99.9% on assets over $250M. No individual human needs more than $100M in wealth.
Of course, to be fair to the poor oligarchs, we can index the thresholds to inflation.
Re:It's not really greed at that point (Score:4, Insightful)
The very concept of a 'wealth tax' is just retarded.
I start a company. It grows. I hire more people. More growth. It's popular, great place to work, sells a bajillion widgets. One day someone decides it's worth $500mm. The next day they seize 80% of my company?
Now who runs it? Why do I have any interest in it's growth anymore? Heck, it would make me want to keep my company poor and smaller...and incapable of doing the things at scale that our society needs. Things like launching an electric car company or developing viable, cost-effective, reusable space launch capabilities...or providing internet to the underserved parts of the world?
What companies SHOULD be forced to do is give back a much larger portion of their net income and equity to their employees. Stop with the 'let's steal labor and wealth from people and make it taxes' and turn it into 'people collectively building valuable companies should be rewarded much more in proportion to their contributions in building them - not just if they invested $ to start it up'.
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Because you can make the rules by just spending limitless amounts of cash.
You don't actually have to spend the cash. You just threaten to do it. Much easier than trying to have the liquid funds needed to actually spend it. Except that time he accidentally bought Twitter.
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Eh. I think he's a miserable c*** but oh well.
It'd be fun to be that rich, but it seems to do a number on peoples head to be that divorced from the grinding reality of regular folks.
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What's the grinding reality of regular folks? I worked two jobs for years to put myself through college, got a job as an electrical engineer / firmware engineer (I've moved around a lot, working for some stable and some startup companies). I own a house and two cars, and work ~8 hours a day. Am I regular folk? Is my reality "grinding"?
I was able to buy a few shares of SPCX in the IPO, just for the hell of it. Now, as business builds, and Elon gets
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The funny thing is that he seems to constantly be miserable, at least when he's raging online inside the anger-echo chamber he built for himself.
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Selling $7.85 shares of stock for $135 - it's the American* way!
(* offer only available for those who can buy their own regulations)
Glad S&P 500 stood their ground unlike Nasdaq (Score:5, Insightful)
having this money-losing company fast-tracked to be included in pension funds is crazy.
and Elon is such a bullshitter, spewing crap about how AI will make money obsolete and endless resources for everyone which continually aspiring to obtain more for himself.
I've heard he's scheming to get to $10 trillion USD.
Don't forget your 401k (Score:3, Insightful)
The tricks he did with NASDAQ and that NASDAQ allowed are there because it lets him raid your 401k. It basically makes SpaceX look like a much safer investment than it actually is and because of that when you were making your 401k elections it is virtually guaranteed to include a lot of SpaceX. Even though the company has no path to profitability and its valuation is based entirely on vibes and promises from a man who has bee
Re:Don't forget your 401k (Score:4, Informative)
I'm sure SpaceX will do fine with $100B of taxpayer money every year, which will save us big money over spending $24B on NASA.
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Switch your pension funds, if you can, from NASDAQ to S&P.
Like A Crypto Billionaire (Score:5, Insightful)
There's no doubt that Musk has near limitless funds at this point. But, "trillionaire" is just paper games. His estimated net worth may be a trillion plus. But, his ability to liquidate even a tiny majority of it is virtually zero. So, the trillionaire moniker is meaningless to me.
But, there's little doubt he could liquidate a few(?) billion.
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?"There's no doubt that Musk has near limitless funds at this point. But, "trillionaire" is just paper games. His estimated net worth may be a trillion plus. But, his ability to liquidate even a tiny majority of it is virtually zero. So, the trillionaire moniker is meaningless to me."
Bingo. This is "paper worth", he doesn't have hundreds of billions or a trillion dollars. He has stock holdings that are currently valued at that. The value can (and does) change at any moment, both up and down. And if he s
Re: Like A Crypto Billionaire (Score:5, Informative)
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The thing about paper worth is that it can be used to hedge. It's not like Musk had $44bn cash laying around, but there's a reason he was able to buy Twitter for a $44bn cash deal. It's not his assets that ultimately are liquidated, it's his assets that are hedged for an external liquid source of funds. That's why paper worth is so important.
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He bought Twitter with (mostly) other people's money. Including big piles of Saudi royal money and Qatar's sovereign fund. And of course, Andreesen Horrorwitz.
Indeed, welcome to my point. His paper wealth is precisely what gives him access to other people's money. Do *you* think you could convince the Saudi royals to loan you a few billion?
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There's no doubt that Musk has near limitless funds at this point. But, "trillionaire" is just paper games.
And everyone should keep in mind that this is true for basically all of the billionaires. Not that there isn't real wealth there, but it's a lot fuzzier than the numbers appear. Basically everyone with astronomical wealth mostly owns shares in companies, and how much of that value is real in any near-term sense depends on a lot of factors.
Musk's wealth is more speculative and fuzzy than most because his companies' valuation is based not on the revenues the companies generate now but theories about what
He's coming for your 401k (Score:5, Insightful)
That money has to come from somewhere and it's sure as fuck not going to come from the Epstein class. When you steal their money you rot in prison like Bernie Madoff and Elizabeth Holmes.
And there isn't enough money in the pension system anymore either. It's just not there.
The only thing left is your 401k. Previously you could structure your retirement savings investments to avoid these kind of high risk investments you can't do that because like I mentioned they changed the rules designed to protect you.
I've said it before and I will say it again, every single system designed to protect you has been dismantled. You aren't on your own though. On your own implies that you just got a bootstrap. It ignores all the people gunning for you and your property.
You're not on your own you have a predator on your back ready to take everything you have. And again they have dismantled the barriers you put up to protect yourself. They did that while you were sleeping.
Well... (Score:3)
Sickening (Score:5, Interesting)
While I'm all for the American dream there needs to be a hard limit on how much money a single person is allowed to accumulate. It's madness.
What will he do with that money? (Score:2)
I really wonder what his plans are.
Let's say he's gonna make his 100 sons' and daughters' lives much better by giving each of them 10 billions. Their lives will just be miserable without a dream or a project. Luxury, but yet miserable.
Will he buy a small country just for himself? And then what? Will he bring the Elonia Kingdom in his grave with him?
Will he do another thousands super exciting and successful projects? Recursive question, then!
Will he give away all of it as the greatest philanthropist in the w
His plans are 10 trillion (Score:2)
Because when you have 100 trillion dollars 10000 trillion dollars just isn't enough.
Re:What will he do with that money? (Score:5, Insightful)
Purchase the government of the United States
Re: What will he do with that money? (Score:2)
.... and then? Rename it United States of Elon? Gulf of Musk?
It's the aim of all that money that is unknown to me. Provided that there is one.
Re:What will he do with that money? (Score:5, Insightful)
He already did that, in 2024, for only $277 million [opensecrets.org]. As a reward, he was given control over what parts of the government to kill, and he killed off all the parts that were investigating the crimes committed by his businesses [house.gov].
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"Purchase the government of the United States"
He plans to buy Mars.
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Funny enough, SpaceX put out a long prospectus explaining exactly what they intend to do with the money and Elon has been making the rounds talking about it endlessly: complete Starship development, build and launch AI satellites, build the worlds largest, most advanced Fabs in Texas to supply chips for cars, satellites and robots that will deliver transportation, labor and intelligence services in high demand. And, by the way, colonize the moon. You don't have to like Elon but it's a strange fantasy to b
Re:What will he do with that money? (Score:5, Informative)
Yes, and he's also been saying that we'll have full self driving cars by the end of the year for the last 15 years or so. He said that his tunnel in Vegas would be full of self driving Teslas. He said that 10 years ago you'd be able to summon your Tesla from across the country. He said he'd build a hyperloop from LA to SF. He said that we'd have humans on Mars by 2021. He said that he'd have a fleet of over 1,000,000 fully autonomous robotaxis driving around by 2020. He said Tesla owners would be able to let their Teslas be used as taxis that would pay for themselves when the owner wasn't using them.
Elon says a whole lot of stuff. The vast majority of it is absolute bullshit that he's spewing to further his wealth and power. The fact that anyone believes anything that comes out of his mouth anymore surprises me.
I remember a time when Slashdot used to get excited about pushing the bounds of tech and engineering to tackle big problems.
Maybe people are just tired of him spewing absolute bullshit as fact while stealing our money, destroying our government, literally hurting and killing people, and just generally being an unlikable little troll that no one would even care about if he hadn't managed to leverage himself into a fuck ton of wealth and power?
What a coincidence (Score:2)
I'm rewatching Dirty Rotten Scoundrels at this moment.
Remember (Score:3)
1M seconds is 11 days, 1B seconds is 32 years and 1T seconds is 32,000 years.
Queue the jealousy and entitlement (Score:5, Insightful)
Oh but one person shouldn't have that much power. We need socialists to own the capital and make decisions. Think about how incompetent your local government is at doing, well everything. My city takes 12 years to open a dog park in an open field, $16000 to put in a speed bump, $80 per injection at their safe injection site and $40,000 per bike in their ride share program. I'm sure that's about average for any socialists.
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Are the socialists in the room right now?
You don't need to be a socialist to think that massive wealth inequality like this is probably bad for the nation.
You don't need to be a socialist to think that tax reform needs to happen.
You don't need to be a socialist to understand that Musk is not evil for having all this wealth (he's evil for other reasons) but that the accumulation of wealth like this is a symptom of systemic problems with our economic incentives and rewards.
It is well within the bounds of libe
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Musk has demonstrated that he is better than anyone else in the world at using capital.
That is categorically not true or at least not axiomatically. "The most" does not mean "the best"
Musk doesn't eat more calories than me, he doesn't have 1000x as many homes as me.
I mean, he does. He also still is one person with 24 hours a day, does he actually provide enough productivity to justify tens of millions every day?
His wealth benefits society at large a million times more than it does him
Explain this (i am fully anticipating Libertarian-Randian gobbledygook)
Paypal reduced the stranger fraud problem to a level low enough for paypal to insure transactions.
1. He wasn't the sole founder of Paypal, hell he didn't even found Paypal at all, he just merged his x.com with them so he didn't code it or do anything really besides make a good decision and
Ok Mr. Not a Socialist (Score:2)
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How would you have funded and created SpaceX?
Probably very similar to how he did it (including getting that initial COTS program loan which allowed them to develop Falcon 9).
One of the reasons I initially was very impressed with Musk is that he was willing to put his money on a venture he believed in. I can hold that opinion and still think it's not good for him to hold more wealth than tens of millions of Americans combined. That isn't saying he shouldn't be a very wealthy man, if not the wealthiest but marginal utility of money exists.
When he was worth 100B what would you have done?
I would have
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The best is San Francisco which spends $100k per homeless person. They could you know hire them to build stuff like homeless shelters while paying luxury apaartmeenrajwith that money.
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Think about how incompetent your local government is at doing, well everything. My city takes 12 years to open a dog park in an open field, $16000 to put in a speed bump, $80 per injection at their safe injection site and $40,000 per bike in their ride share program. I'm sure that's about average for any socialists.
Maybe you need to elect better politicians
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I'll paraphrase an old Chris Rock joke:
If you're worth 30 million dollars and lose half, you're still doing great. If you're worth $30,000, then well you just might have to kill her.
The first rule of being rich is getting other people to invest their money, not yours.
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Do airlines build airports better than governments do?
Meanwhile (Score:2, Insightful)
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Nobody has made them yet, so there is no data.
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I think wealth taxes are fundamentally a distraction from the giant loopholes in current systems, and even if you oppose wealth taxes, you should still fix said loopholes.
First off, people like Musk just take loans against their stock. This is not a realizing event, so they get to enjoy their gains without paying taxes on them. Using stock as collateral in any way should be a realizing event. If you're doing something that lets you enjoy the gains, you should be forced to realize the gains and pay taxes o
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>"I think wealth taxes are fundamentally a distraction from the giant loopholes in current systems, and even if you oppose wealth taxes, you should still fix said loopholes."
Totally agree
> First off, people like Musk just take loans against their stock. [...]
Yep, that should somehow end. I am not sure exactly HOW, but I am sure there is a way... one that would not create undue externalities.
>"Secondly, capital gains are just income. They don't deserve a special lower rate. They should be taxed the
Is he really a trillionaire? (Score:2)
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That's the way we've been counting net worth, an extrapolation of the volume that transacted and assuming that *all* of the rest could transact at that price. Nothing particularly new.
I haven't seen really any better ideas deployed, but you are right that it's only "worth" a Trillion while most of it just sits unused. Even "unused" it bolsters the parts he is willing to leverage for loans to basically do whatever the hell he could possibly imagine.
Let's see what happens (Score:2)
once Spacex employees sell thier RSU's 6 months from now.
This is not stock advice.
My guess is that Mr. Musk will get to sell some of his holdings before the employees get to do so, due to planned sales and other manipulations.
With everybody offloading their shares, I expect that the share price will dip at that time.
The other issues over the longer term are:
1. The money-losing divisions in SpaceX
2. The lack of investors able to vote their shares.
3. Risk to index funds such as QQQ if SpaceX fumbles.
He could get even more money (Score:3)
https://www.msn.com/en-us/news... [msn.com]
Say what you will about Musk but that is a tough goal - 1 million people on Mars - if achieved his compensation it is worth it especially considering most people look at that goal, scratch their heads, and say 'how can that be profitable?' https://www.genolve.com/design... [genolve.com]
He hacked capitalism (Score:4, Insightful)
The whole point of stock markets and such is that you have hard core rational investors ensuring valuations are accurate.
But Musk figured out that you don't need solid fundamentals, all you need is a hyper-loyal core following of retail investors who support you regardless of fundamentals. So you just bullshit just enough to keep them happy, without crossing too far into fraud, and the retail investors stay on board.
The retail investors create a floor for the price and their crowing about their winnings creates a bubble. The institutional investors then see what's happening and hop along for the ride.
The result is the two most overvalued companies in history (Tesla and SpaceX). In theory, the whole pile eventually comes crashing down, but just like any bubble the fund managers who buy are unlikely to be the fund managers left holding the bag.
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The idea is to sell a tiny sliver of the company knowing so many people want a piece of it. It's like you create a crypto coin and sell one person one coin for $10 and then you're a billionaire because you've got 100 million coins.
Absolutely anti-humanist (Score:2)
The fact that Musk is "worth" so much is a solar-flare level indictment of the USA shell game known as the stock market imo.
What I would do if I had a trillion dollars (Score:4, Funny)
Call out the real greedy cunts (Score:2)
Those are people who, rather than working in their own country, simply move to another country with lax borders, pretend they are gay or have some other made-up reason not to be sent home, and then live forever off that country's overly generous unemployment benefits, paid for by the honest workers of that country and meant for the people of that country who *can* not work and not the economic migrants who *will* not work.
THAT is di
Power (Score:2)
base 10 (Score:3)
This only matters for fans of the base-10 system. I'm waiting until his net worth is 0x1000000000.
One million for every death (Score:3)
His DOGE USAID cuts have caused, in the last year alone. A merchant of death.
Re:Even a trillion dollars can't buy self esteem (Score:5, Insightful)
Re:Even a trillion dollars can't buy self esteem (Score:5, Informative)
Among other things, Ebola and screwworm, which are spreading rapidly after Musk and doge destroyed US programs to fight them.
He's also the greatest mass murderer (Score:3)
It is weird to think that he is probably a bigger mass murderer than Joseph Stalin if you look at real numbers and not that 100 million figure that got pulled out of somebody's ass. Hitler has him beat but only if the Democrats win i
Re:Even a trillion dollars can't buy self esteem (Score:5, Insightful)
The further destruction of social media and subsequent damage to society by people who make posts like yours, for one thing. Musk's most recent achievements include turning one of the world's most significant messaging services into a nazi, racist propaganda network, stealing the personal information of everyone in the US for personal, criminal use and producing AI-based child porn generators. You know, things you love, AC.
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"And legions of bitter, resentful haters will make pathetic posts like this to try and feel morally superior."
It's not clear that there's a single person on the planet that isn't morally superior to Elon Musk.
"Go build something real."
Tell that to Elon Musk. His entire life is lying and using other people's money to take credit for other people's work. He is a pathological liar and criminal.
Also, Elon Musk is almost certainly NOT the world's richest man nor the world's first trillionaire. At most, he is t
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It's not clear that there's a single person on the planet that isn't morally superior to Elon Musk.
I definitely know of one. He has the complexion of an Oompa Loompa.
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Musk has managed to retain a loyal following
Yes, pedros sure do like each other, very much.
Is that the new slang term for Mexicans? Pedros?
There are a lot of things to detest about Musk, but as far as I can see, being a pedophile is not among them.
True. He prefers to give it to women that are old enough to produce offspring. He wants to shotgun blast his progeny around the world, because he's arrogant enough to believe his DNA is special and a gift to be shared with humanity.
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" because he's arrogant enough to believe his DNA is special and a gift to be shared with humanity."
Everybody would be going bald early on and need hair transplants, like him.
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... by getting angry at a person for not knowing a definition of a word that you have to use Urban Dictionary as a reference for.
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You want his wife to have an affair with JD Vance?