If Musk sold every single thing he owns today, and then paid his debts; would he have anywhere near a trillion? Because if not, that’s a weird title. Or does trillionaire just mean “has a trillion dollar credit line”?
Not if the vast majority of that is already debt you can’t back up. But I’m really just complaining about semantics. Seems wrong to call someone a trillionaire that couldn’t actually put a trillion dollars on a poker table.
9488fcea02a9@sh.itjust.works
on 13 Jun 06:12
collapse
couldn’t actually put a trillion dollars on a poker table.
Thats not how net worth works… even for normal people, money on a poker table is an idiotic measure of net worth…
Is it? Basing it off imaginary stock market numbers sounds idiotic to me. And that is a hill I will die on.
9488fcea02a9@sh.itjust.works
on 13 Jun 14:33
collapse
even if you if you ignore stocks… i own a home that is appraised by the city and taxed at $300k (i’m not talking about an inflated valuation by a real estate agent here), but i only have $5k in liquid cash to bring to the casino floor… you’re telling me that my net worth as a person is only $5k? if i were to apply for a business loan, the bank should assess my net worth as $5k?
What’s the debt on the house? 0$? If it is actually salable for $300k, then net worth would be $305k. Owe $200k on it? $105k net worth. That’s what I meant by “sold every single thing he owns today, and then paid his debts”. Actual tangible assets.
If Musk sold every single thing he owns today, and then paid his debts; would he have anywhere near a trillion?
There’s no way he would be able to sell all of his corporate stock at once. It would be breaking, headline news if Musk was trying to sell all his stock, and it would almost certainly cause the share price of Tesla and SpaceX stock to plummet.
The only way Musk would ever have $1 trillion of actual, liquid dollars would be if the US had a Zimbabwe runaway inflation scenario.
Looking at the guy they’re replacing JPow with and the AI bailout on top of some other timebombs like auto loans… Zimbabwe seems likely
Yeller_king@reddthat.com
on 12 Jun 22:46
nextcollapse
They say the first trillion is the hardest.
redditmademedoit@piefed.zip
on 12 Jun 23:40
collapse
At an average return of 7 percent – extremely conservative in this day and age and in the context of the mega rich – having 1 000 billion dollars will make you 70 billion dollars in a year without lifting a finger.
So yeah.
mgrecca2026@lemmy.zip
on 12 Jun 22:54
nextcollapse
YeahIgotskills2@lemmy.world
on 13 Jun 06:55
nextcollapse
I had to come here after foolishly looking at news articles via my FB feed, just to get some sane takes. I’m hoping it’s mostly bots, but the number of comments online praising him is sickening. Deluded sycophants and bootlickers are seemingly everywhere. I have stronger negative feelings toward these pricks than I do Musk himself, which is saying something.
The sycophants are definitely out there but I personally believe most of those comments are bots.
random_character_a@lemmy.world
on 13 Jun 09:23
collapse
For Elon to have Trillion dollars, wouldn’t it require everyone in western world to immediately sell their car and buy spaceX. Otherwise it’s just monopoly money.
threaded - newest
Fuck that fucking fucker to the highest of Fuckativity!
Fucking hell
Good job elon. You won capitalism. you can stop now. thanks.
Every billionaires has won capitalism
A billion dollars is enough it retire on if you live frugally but a trillion is definitely nice in case world conditions change.
Cheese and crackers they think youre serious haha.
I am though.
If Musk sold every single thing he owns today, and then paid his debts; would he have anywhere near a trillion? Because if not, that’s a weird title. Or does trillionaire just mean “has a trillion dollar credit line”?
I mean, that’s a pretty good position for him to be in. Probably better than having a trillion dollars in cash or hard assets.
Not if the vast majority of that is already debt you can’t back up. But I’m really just complaining about semantics. Seems wrong to call someone a trillionaire that couldn’t actually put a trillion dollars on a poker table.
Thats not how net worth works… even for normal people, money on a poker table is an idiotic measure of net worth…
Is it? Basing it off imaginary stock market numbers sounds idiotic to me. And that is a hill I will die on.
even if you if you ignore stocks… i own a home that is appraised by the city and taxed at $300k (i’m not talking about an inflated valuation by a real estate agent here), but i only have $5k in liquid cash to bring to the casino floor… you’re telling me that my net worth as a person is only $5k? if i were to apply for a business loan, the bank should assess my net worth as $5k?
i’m really glad the real world doesn’t work that…
What’s the debt on the house? 0$? If it is actually salable for $300k, then net worth would be $305k. Owe $200k on it? $105k net worth. That’s what I meant by “sold every single thing he owns today, and then paid his debts”. Actual tangible assets.
There’s no way he would be able to sell all of his corporate stock at once. It would be breaking, headline news if Musk was trying to sell all his stock, and it would almost certainly cause the share price of Tesla and SpaceX stock to plummet.
The only way Musk would ever have $1 trillion of actual, liquid dollars would be if the US had a Zimbabwe runaway inflation scenario.
Looking at the guy they’re replacing JPow with and the AI bailout on top of some other timebombs like auto loans… Zimbabwe seems likely
They say the first trillion is the hardest.
At an average return of 7 percent – extremely conservative in this day and age and in the context of the mega rich – having 1 000 billion dollars will make you 70 billion dollars in a year without lifting a finger.
So yeah.
<img alt="" src="https://lemmy.zip/pictrs/image/ad27663b-7ad7-40c1-9327-29d2fbb7d679.avif">
This fucking sucks. It just give the idea to all those billionaire that it’s possible and a thing to strive for.
I think “get even more money” has always been a thing they strive for, but I get what you mean.
Here’s to my solvency hopefully outlasting this madness.
Is there a sane index fund somewhere that avoids ecocidal bullshit, fraud, cronyism and genocide?
He has no friends and will die alone
I had to come here after foolishly looking at news articles via my FB feed, just to get some sane takes. I’m hoping it’s mostly bots, but the number of comments online praising him is sickening. Deluded sycophants and bootlickers are seemingly everywhere. I have stronger negative feelings toward these pricks than I do Musk himself, which is saying something.
The sycophants are definitely out there but I personally believe most of those comments are bots.
For Elon to have Trillion dollars, wouldn’t it require everyone in western world to immediately sell their car and buy spaceX. Otherwise it’s just monopoly money.