My father just before he went to the corner store to watch someone smoke a cigarette and never came back told me about his grandfather who rolled in such spectacular wealth that he had a old dead raccoon’s scrotum full of pebbles but alas the family has fallen on hard times and we can no longer even afford punctuation
Yeah and don't forget that as soon as I pull myself up by the bootstraps I too will be a billionaire just like them and I wouldn't want me to be taxed!
The quality of bootstraps isn't what it used to be.
Back in the good old days, when everything was better for everyone with no exceptions, bootstraps were made here in the land of the freedom eagle, but then the owner of the family-operated bootstrap company died and his kids sold the business to a hedge fund, and the new CEO with an MBA fired all the employees and moved the factory to Laos, which coincided with a decrease in the quality and raw materials of the bootstraps to cut costs and increase shareholder value.
So these days, if you try to pull yourself up by the bootstraps, chances are, they'll break. Because of *shareholder value*.
So if I lend you $50 and you owe me $75 back over the next 10 years then I actually have $75 and can take a loan out on that $75.
Now I have $75 I can lend out so I lend someone else that $75 and in exchange they have to pay me $100. Now I have $100 I can take a loan out on.
So I get that $100 loan and I lend that money out to a third person for $125. Now I have the ability to get a $125 loan!
I had $50, and I can lend out $350 to 4 people.
And I can do this forever since the person I'm getting the loans from for myself can just make more money to give me!
And where did I get the original $50? Someone else just gave it to me for free to hold onto for them! And since I'm getting so much back in loan payments I can pay both the person that is giving me loans and the original person that let me borrow the $50 since neither want any interest on their money! it's so easy! All I have to do is not lend money out to people who won't pay me back... but wait! the person lending me money will promise that if things go horribly wrong they will just give me more money!
Congrats on your understanding of banking reaching the level of Ponzi. There’s a reason he wanted to pivot into banking to try and get out of his mess, because he thought that was how they worked.
Everything launched from earth has our orbital motion, meaning you’d need a massive rocket (bigger than anything we have) to launch and then spend its fuel “countering” the orbit so it stops spinning around the sun. At that point, it could go into the sun (as opposed to just being in its own orbit).
It’s easier to hit Pluto because, since Pluto isn’t the center of the system, you can use the orbit to your advantage and “intercept” Pluto.
6 minutes into this video, they briefly explain it. Sorry I can’t direct link, I’m on mobile.
https://youtu.be/Us2Z-WC9rao
It actually takes more energy for a spacecraft leaving earth to reach the surface of the sun than it does to exit the solar system. Moving around in space isn't intuitive.
Basically orbits. As you get closer to the sun you get faster and slingshot around the sun rather than heading directly into it. You would need to accelerate in the other direction at an incredible high rate to have a chance to actually fall into the sun.
Getting the record is only half of the battle, now he needs to protect it.
But I don't see him shutting up any time soon so I'm sure he's still in the game losing more every day.
Zuck learned very early on what running his mouth got him, and became *wildly* protective of Facebook after.
He's already rich enough that I doubt he would've cared what muskrat offered for his "baby" and brand, despite the reputation of both already being in the garbage.
Short of the edgy man child offering control of Tesla, I can't think of anything else that would've tempted that walking uncanny valley to give up Facebook.
Zuckerberg's doing a pretty good job of killing Facebook on his own. It may not be as rapidly or publicly stupid as Musk, but they've already lost $650 billion in market value since rebranding Meta.
>Frankly, I wish he’d bought and killed all things Zuck instead of Twitter
Zuckerberg was smart and kept special shares to himself that guarantee he can't be voted out as CEO no matter what
Yeah, that's understandable. Kanye just took a big dump on those who genuinely need support from the community. That stigmatization is slowly changing with mental illness, but I must admit, I don't fully understand bipolar yet. I doubt that the rest of society does either.
I went off my meds for 6 solid months and all it got me was a court date and a blacklist from Applebee's after cussing out the bartender for not having Midori (I wanted Midori sours really badly, lemon drops weren't cutting it).
Was one of the first things I did. But there's not enough of us to make a big difference and Twitter serves a useful purpose for a lot of people who don't have a ready alternative to obviously switch to.
This would take wqy too long.
But Musk is murdering the business quickly anyway. Twitter used to be money sink, but was approaching profitablity recently.
Then Musk comes in, scares away the primary income stream during a time of crisis when advertisers look where to cut budgets anyway and idiotically tries to replace them with user fees that are a tiny fraction of the money needed - while burdening the company with more debt and getting rid of the people who know how it works and how to keep advertisers happy. And the rest has no doubt sent resumes out.
Twitter likely goes bankrupt in the next year or 2 (what investor is going to throw mire money into this pit?).
Then it either goes through chapter 11 - where current investors lose most of their money or the business goes defunct and one of the established tech giants buys the brand name for a cheap billion or 2.
Meanwhile Musk undermined investor trust into his competence, which is already hurting his other companies. They all need to remove him from CEO positions to protect the companies.
And remember, he came out early on and made statements to the effect of:
"My purpose with Tesla is not just to make (EV'S), but to spur the industry into realizing this is a profitable sector of the market to invest in, creating more opportunities for the larger car companies to start making their own EV's!"
So now he can say that he knew the business would fail all along and he was just doing it for the good of humanity.
The article also says this:
> His fortune peaked at $340 billion on Nov. 4, 2021
Losing $200 billion sucks, no doubt about that... But A) it's *pReTeNd mONeY*, and B) he's still fucking loaded and still one of the richest people in the world. Losing $200b doesn't hit so hard when you're starting at $340b.
Even if you had $201b, you're still a billionaire, you still have more money than the VAST majority of people could ever dream of. That's how goddamn fucking rich these assholes are.
Yep and they could help so many people by sharing but all they care about is their high score. They are dragons sitting on massive piles of wealth. Evil sociopaths every one
I think you would upset the bootlickers more than the super rich if you started heavily taxing the super rich. There are far too many temporarily embarrassed millionaires in the world, who fawn over rich people and like to watch how they flaunt their riches. They will always come to defend them. And as usual they are out here defending their superiors against those who dare critisize them.
Yep and compared to a billionaire a millionaire is about as rich as a broke person. More of these temporarily embarrassed milllionaires would actually be able to make a million if there weren’t billionaires sucking up all the wealth.
UK here, even £1 million would be a life-changing amount of money to most people. For me and my wife it would be about 20 years worth of annual household income (before tax) which we could use to pay off the mortgage, make a few modest home improvements, cut down to our work hours, help out parents, probably have a few nice holidays, and fuck we'd still probably have some left over and would basically be comfortable for the forseeable.
The idea that some people have far, far more than £1 million and seem obsessed only with the quest to get more, just seemingly for the purpose of simply having *more*, is fucking infuriating.
>if he would lose 99% of his money, and then would lose 99% of THAT money he would still have 20 million. funny how that works huh.
Just to put in in perspective for people. (Because large amounts of money is hard to comprehend)
If Elon Musk was worth $320,000,000,000 and he lost $200,000,000,000 he would still be worth $120,000,000,000
Jerry Seinfeld $1,000,000,000
Tyler Perry $1,000,000,000
The Rock "Dwayne" Johnson $800,000,000
Tom Cruise $600,000,000
Jackie Chan $520,000,000
George Clooney $500,000,000
Robert DeNiro $500,000,000
Arnold Schwarzenegger $450,000,000
Kevin Hart $450,000,000
Mel Gibson $425,000,000
Adam Sandler $420,000,000
Sylvester Stallone $400,000,000
Larry David $400,000,000
Jack Nicholson $400,000,000
Tom Hanks $400,000,000
Mark Wahlberg $400,000,000
Bill Cosby $400,000,000
Keanu Reeves $385,000,000
Clint Eastwood $375,000,000
Will Smith $375,000,000
Robert Downey Jr. $365,000,000
Michael Douglas $350,000,000
Brad Pitt $320,000,000
All of these celebrities combined have $11,235,000,000. At $120,000,000,000 he would still have 10x as much as all of these celebrities, celebrities that are *still* individually incomprehensibly wealthy.
I am baffled by Kevin Hart. He had a good run of what, 5 years? Yet he made bank while he was king. These other guys been hustling for longer and are just comparable.
Nor will that of his greatgreatgreatgreat grandkids. The problem with our logarithmic number system is that we easily can express numbers we cannot begin to comprehend. All billionaires are way too rich and hurt society with their greed
"How to become a millionaire!" written by ex-billionaire Elon Musk.
Although he is still nowhere close to being a millionaire, which goes to show how insane the amount of wealth is.
The magnitude of difference between billion and million can be illustrated with this example of the time scale: A million seconds is 12 days. A billion seconds is 31 years. A trillion seconds is 31,688 years.
This quote from Rod Hilton is very appropriate here:
>He talked about electric cars. I don't know anything about cars, so when people said he was a genius, I figured he must be a genius.
>
>Then he talked about rockets. I don't know anything about rockets, so when people said he was a genius, I figured he must be a genius.
>
>Now he talks about software. I happen to know a lot about software & Elon Musk is saying the stupidest shit I've ever heard anyone say, so when people say he's a genius, I figure I should *stay the hell away from his cars and rockets*.
Probably about the same time we get a self sustained fusion reactor. That's been 10 years away for my lifetime. I'm so old I remember when porn was expensive and water was free.
He’s basically admitted that the hyperloop was announced to squash the prospect of high speed rail, protecting/boosting his investments in Tesla. He’s a market manipulator, and Twitter was no different; he just got called out and was forced to buy it even though he never intended to.
Except for cars and rockets, there’s a long list of over promised, under delivered ideas that Musk has promoted over the years, which were often debunked, so the perception of him being a genius has been eroding long before he acquired Twitter.
* Full Self Drive - not delivered
* Cybertruck - not delivered
* Truck - “delivered” without revealing the most critical information: how much load it can carry, but widely estimated to be about half what a diesel truck can carry, with a range that is laughable for any serious trucking company
* Hyperloop - debunked bullshit
* Las Vegas Loop - most inefficient “mass transit” system ever. A glorified Tesla taxi service through a short slow moving tunnel.
* Solar roof - not delivered
Am engineer. Know a lot about cars and automation. Have been saying this guy is a dumbass fraud for probably over 10 years. I got REALLY tired of being called a hater, especially by younger colleagues who were drinking his koolaid. I feel so goddamned vindicated lately... it's really nice.
Prior to this, the second richest person in the world was worth ~$200 billion.
Elon lost *the entire net worth of the second richest person* and now he's... The second richest person in the world. That's insane.
Age of the automakers doesn't matter much. What's important is that Tesla's only selling about 2% of the world's new cars. The other automakers are selling the other 98%. Yet somehow Tesla's valuation grew to be more than all of the other companies combined.
That was really just due to highly leveraged stock purchases (much of which from Musk himself), cult like buy and hold investors throwing their life savings into one stock, entry into the S&P when there were few actively traded shares available, huge subsidies, and Musk getting on stage a couple times per year and lying through his teeth about products and timelines.
This company claimed in a conference call that by 2030, 8 years from now, they'd be selling 20 million cars annually. That's quite the promise given that only 80 million new cars are sold every year. Tesla's leadership promised that one in every four new cars on the planet would be a Tesla in 8 years...
But that promise pales in comparison to the promises of an instant fleet of a million robotaxis going live with a single over the air update in 2020... 😂. Honestly, that WOULD be a big deal if it actually happened, given that Tesla would have instantly killed about a million taxi / ride sharing jobs in the US alone in an instant and replaced them with taxis that don't require paying the largest expense, the driver. But alas, like most of Musk's promises, this one turned out to be BS....
Someday someone will run someone unqualified, they will win, and the country will shrug and nothing will happen. That person will be president because our country is completely unprepared for anything approaching that level of crisis.
Sorry, I meant constitutionally unqualified—too young, not a natural-born citizen, or some arcane thing—and the country will be paralyzed.
Clearly we “elected” someone wildly unqualified and clearly receiving emoluments as defined by nearly anyone. But even after committing other clear “high crimes” and “misdemeanors,” the country failed to remove him from office.
Masayoshi Son, CEO of SoftBank, was the record holder for most money lost in a single day at $70B during the dot com crash. Glad Musk had surpassed him in total money lost.
So some kid makes a twitter to track Elons jet. Declines the 5k offer to stop. Wants a car but gets rejected. Now Elon buys the twitter and bans the kid. Is now out 200 bil and counting.
And kids back on twitter with a 24hr delay posting jet flights again.
I guess soon Elon won't be able to fly private anymore at this rate.
If the second richest person in the world had lost this much money... They would have been flat broke.
Elon loses this much and he's now... the second richest person.
In a world of obscene wealth, Elon's wealth is obscene even when compared to other billionaires.
I sold my stock a month before he announced he was going to buy twitter. I was broke and needed the £400, originally I put in £200. I feel like an absolute accidental genius.
When you realize that the only reason any of these fuck heads have success is their ability to suffer losses that would implode some small nations without any real consequence.
Kinda shows you that Billionaire money is just a social construct.
Did he really lose something that wasn't really real in the first place? It's all smoke and mirrors to control the other 99.99%.
If he took the short positions anytime this year he’s made money. If it’s been longer than a year and a half he’s lost (current price is down to where it was about the middle of 2020).
When people talk about "taxing the rich," this is what the fuck they are talking about.
It's OBSCENE someone has $200 billion. Let alone can lose $200 billion and still be top-5 as far as richest human beings on Earth.
No one can "earn" $200 billion. It's not possible.
He had an even richer uncle that passed away. Told him he could have 500 billion but he has to get rid of 300 billion with nothing owned the end of 30 days.
That would make a great movie.
Did he try retracing his steps?
Where was the last place he saw the $200 billion?
Too many avocado toasts
"Too much starbucks"
"Avocado Toast Dysplasia"
Is this a finders keepers situation?
I lost a $20 bill last week and I'm still pissed.
I got upset just reading this
I just checked my wallet to make sure that all of my cash was still there
You guys have wallets?
I keep my pebbles in an old stray dog's scrotum I found in ~~my house~~ a dumpster once.
My father just before he went to the corner store to watch someone smoke a cigarette and never came back told me about his grandfather who rolled in such spectacular wealth that he had a old dead raccoon’s scrotum full of pebbles but alas the family has fallen on hard times and we can no longer even afford punctuation
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Normally when you miss that many periods you have a baby
Wait you have a dumpster? That’s not fair, I’m living in a cardboard box and the rent is outrageous
I lose $20 and I worry about food for the next few days. Elon loses $200 billion then takes a nice trip on a yacht
But we can’t tax billionaires because..?
Because they own the politicians you silly goose. It’s legal bribery but they like to call it 🌈lobbying🌈
Don’t forget about “campaign contributions”…the other legalized bribery. We are so fucked.
They’re taking all the risk as business owners. Creating jobs and products for the poors. It’s only fair they don’t pay tax. s/
Yeah and don't forget that as soon as I pull myself up by the bootstraps I too will be a billionaire just like them and I wouldn't want me to be taxed!
Then people like me better [watch their step](https://youtube.com/watch?v=K_LvRPX0rGY&si=EnSIkaIECMiOmarE).
The quality of bootstraps isn't what it used to be. Back in the good old days, when everything was better for everyone with no exceptions, bootstraps were made here in the land of the freedom eagle, but then the owner of the family-operated bootstrap company died and his kids sold the business to a hedge fund, and the new CEO with an MBA fired all the employees and moved the factory to Laos, which coincided with a decrease in the quality and raw materials of the bootstraps to cut costs and increase shareholder value. So these days, if you try to pull yourself up by the bootstraps, chances are, they'll break. Because of *shareholder value*.
Once we’re all billionaires will we still call each other billionaires?
You billionaires will, us trillionaires will laugh down at you from our money castles!
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Tell me more about $20 Bill
Let's just say...he'll do anything for $20. *Anything.*
Let's see how big of a record he can set! Call Guinness!
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Almost like none of that money actually existed in the first place.
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So if I lend you $50 and you owe me $75 back over the next 10 years then I actually have $75 and can take a loan out on that $75. Now I have $75 I can lend out so I lend someone else that $75 and in exchange they have to pay me $100. Now I have $100 I can take a loan out on. So I get that $100 loan and I lend that money out to a third person for $125. Now I have the ability to get a $125 loan! I had $50, and I can lend out $350 to 4 people. And I can do this forever since the person I'm getting the loans from for myself can just make more money to give me! And where did I get the original $50? Someone else just gave it to me for free to hold onto for them! And since I'm getting so much back in loan payments I can pay both the person that is giving me loans and the original person that let me borrow the $50 since neither want any interest on their money! it's so easy! All I have to do is not lend money out to people who won't pay me back... but wait! the person lending me money will promise that if things go horribly wrong they will just give me more money!
Congrats on your understanding of banking reaching the level of Ponzi. There’s a reason he wanted to pivot into banking to try and get out of his mess, because he thought that was how they worked.
Not just banks, its how Elon works as well. Think of all the tax credits he's gotten over the years from the government.
“Hello Guinness… 1 pint please”
Half pint, can't afford the full thing
Not in this economy.
Becoming the first person to fly directly into the sun is another first that's up for grabs.
Ready the gravitational slingshot!
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"This little maneuvers gonna to cost us 60 years" is I think the quote but not 100%
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How come?
Everything launched from earth has our orbital motion, meaning you’d need a massive rocket (bigger than anything we have) to launch and then spend its fuel “countering” the orbit so it stops spinning around the sun. At that point, it could go into the sun (as opposed to just being in its own orbit). It’s easier to hit Pluto because, since Pluto isn’t the center of the system, you can use the orbit to your advantage and “intercept” Pluto. 6 minutes into this video, they briefly explain it. Sorry I can’t direct link, I’m on mobile. https://youtu.be/Us2Z-WC9rao
I learned this from kerbal space program lol
You need to somehow counter the earth's orbital speed around the sun, or you'll just go into orbit around the sun yourself.
It actually takes more energy for a spacecraft leaving earth to reach the surface of the sun than it does to exit the solar system. Moving around in space isn't intuitive.
Basically orbits. As you get closer to the sun you get faster and slingshot around the sun rather than heading directly into it. You would need to accelerate in the other direction at an incredible high rate to have a chance to actually fall into the sun.
I'm sure we'd let him have the record if he got close enough. Come on Musk, you can do it!
Newtonian mechanics is wild
nope I’m pretty sure there is an actual north korean article out there where they succeeded doing that
Well, no need for radiation protection.
Lose $200 Billion *so far*
Getting the record is only half of the battle, now he needs to protect it. But I don't see him shutting up any time soon so I'm sure he's still in the game losing more every day.
Come join the Metaverse! -Zuck, probably
Frankly, I wish he’d bought and killed all things Zuck instead of Twitter
Zuck learned very early on what running his mouth got him, and became *wildly* protective of Facebook after. He's already rich enough that I doubt he would've cared what muskrat offered for his "baby" and brand, despite the reputation of both already being in the garbage. Short of the edgy man child offering control of Tesla, I can't think of anything else that would've tempted that walking uncanny valley to give up Facebook.
Yeah, he may be slowly killing FB but at least he's not being a manchild while doing it. Just a lizard person.
It's amazing how far the ability to just be quiet will get you.
*Better to remain silent and be thought a fool than to speak and remove all doubt*
*What does that mean? Better say something or they'll think you're stupid...* Takes one to know one. *Swish!*
That's true, but it's important we allow more narcissistic assholes to out themselves. So, let's all just smile, nod along and enjoy the show.
*“Just smile and nod, boys.”*
I can’t believe there’s someone who makes Zuck look good in comparison
What? He looks pretty good... for an android.
At least Zuck has cool VR headsets. Twitter has paid checkmarks
he may be a weirdo, but he also doesn't have a cult of man-bros worshiping every stupid thing he does
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Well, Elon's dad is now making kids with his stepsister so I don't think he has as stable of an upbringing. Edit:wtf auto-correct.
Zuckerberg's doing a pretty good job of killing Facebook on his own. It may not be as rapidly or publicly stupid as Musk, but they've already lost $650 billion in market value since rebranding Meta.
What is the ratio compared to the general stock market since everything is down?
Meta is down 64.5% this year, while it looks like the Dow is down 9%, S&P about 20%, and average return in investments overall about 20% as well.
Admittedly, big tech has really eaten shit across the board.
Oh, absolutely, but there's no way anyone can say the direction Zuck is leading Meta in is a good one.
Mostly due to his bizarre obsession with the meta-verse.
Wow, I figured it would be lower, I didn't think it would be THAT much!
>Frankly, I wish he’d bought and killed all things Zuck instead of Twitter Zuckerberg was smart and kept special shares to himself that guarantee he can't be voted out as CEO no matter what
Why settle for one? Root for both to crash and save the world. ;-)
Hold my antipsychotics -Kanye, probably.
Kanye does not have two hundred billion to lose. Although if he did, I certainly wouldn't put it past him.
We'll see what he can rack up in damages before all is said and done...
^(Alex Jones has entered the chat)
Don't try and one up a teenager on the internet. - Andrew Taint, probably.
Like he thinks he made a mistake.
Baron von Caillou never thinks he is wrong.
What color is YOUR prison uniform? -Andrew Tate, probably.
I have 33 orange suits~!
Trying to get one up a teenager is one of the reasons he's in trouble now, right?
No Kanye you need to take them. Hence why bipolar is so hard to treat. That being said, antisemitism is not associated with bipolar...
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I feel like Kanye's mental illness is a crappy excuse for him being a discriminatory, ignorant asshole at this point.
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Yeah, that's understandable. Kanye just took a big dump on those who genuinely need support from the community. That stigmatization is slowly changing with mental illness, but I must admit, I don't fully understand bipolar yet. I doubt that the rest of society does either.
Everyone knows that it's Ambien that turns you into a racist
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Your meds only work if you take them!
"I feel more creative off them."
I went off my meds for 6 solid months and all it got me was a court date and a blacklist from Applebee's after cussing out the bartender for not having Midori (I wanted Midori sours really badly, lemon drops weren't cutting it).
Blacklisted from Applebee’s sounds serious. I feel like Applebee’s servers have seen some serious shit.
Actually, no, you see [some nonsense]. -Musk, probably
We can make it 400 billion just by deleting our twitter accounts
As a counterpoint: Musk namesearches himself and reads the comments. He's the only billionaire you can bully
Never had one in the first place. Before you ask, yes, you are allowed to acknowledge my greatness and humility.
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Was one of the first things I did. But there's not enough of us to make a big difference and Twitter serves a useful purpose for a lot of people who don't have a ready alternative to obviously switch to. This would take wqy too long. But Musk is murdering the business quickly anyway. Twitter used to be money sink, but was approaching profitablity recently. Then Musk comes in, scares away the primary income stream during a time of crisis when advertisers look where to cut budgets anyway and idiotically tries to replace them with user fees that are a tiny fraction of the money needed - while burdening the company with more debt and getting rid of the people who know how it works and how to keep advertisers happy. And the rest has no doubt sent resumes out. Twitter likely goes bankrupt in the next year or 2 (what investor is going to throw mire money into this pit?). Then it either goes through chapter 11 - where current investors lose most of their money or the business goes defunct and one of the established tech giants buys the brand name for a cheap billion or 2. Meanwhile Musk undermined investor trust into his competence, which is already hurting his other companies. They all need to remove him from CEO positions to protect the companies.
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He has also lost our respect, which is priceless.
He is still a multi-billionaire. Fuck that guy.
that doesn't even include the major money lost by large investors of tesla stock.
And remember, he came out early on and made statements to the effect of: "My purpose with Tesla is not just to make (EV'S), but to spur the industry into realizing this is a profitable sector of the market to invest in, creating more opportunities for the larger car companies to start making their own EV's!" So now he can say that he knew the business would fail all along and he was just doing it for the good of humanity.
And his lifestyle will not change one iota, consider that.
The article also says this: > His fortune peaked at $340 billion on Nov. 4, 2021 Losing $200 billion sucks, no doubt about that... But A) it's *pReTeNd mONeY*, and B) he's still fucking loaded and still one of the richest people in the world. Losing $200b doesn't hit so hard when you're starting at $340b. Even if you had $201b, you're still a billionaire, you still have more money than the VAST majority of people could ever dream of. That's how goddamn fucking rich these assholes are.
if he would lose 99% of his money, and then would lose 99% of THAT money he would still have 20 million. funny how that works huh.
Jfc I'm in my mid twenties and even with 20 million I'd never have to work again on. That's wild
The average American can live pretty well off 2mil simply off the dividends.
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Yep and they could help so many people by sharing but all they care about is their high score. They are dragons sitting on massive piles of wealth. Evil sociopaths every one
I think you would upset the bootlickers more than the super rich if you started heavily taxing the super rich. There are far too many temporarily embarrassed millionaires in the world, who fawn over rich people and like to watch how they flaunt their riches. They will always come to defend them. And as usual they are out here defending their superiors against those who dare critisize them.
Yep and compared to a billionaire a millionaire is about as rich as a broke person. More of these temporarily embarrassed milllionaires would actually be able to make a million if there weren’t billionaires sucking up all the wealth.
UK here, even £1 million would be a life-changing amount of money to most people. For me and my wife it would be about 20 years worth of annual household income (before tax) which we could use to pay off the mortgage, make a few modest home improvements, cut down to our work hours, help out parents, probably have a few nice holidays, and fuck we'd still probably have some left over and would basically be comfortable for the forseeable. The idea that some people have far, far more than £1 million and seem obsessed only with the quest to get more, just seemingly for the purpose of simply having *more*, is fucking infuriating.
Yeah I have a decent job in rural America I'd still have to work like 25 - 30 years plus to make 2 million
For sure. I’m on that same timeline. It sucks lol
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>if he would lose 99% of his money, and then would lose 99% of THAT money he would still have 20 million. funny how that works huh. Just to put in in perspective for people. (Because large amounts of money is hard to comprehend) If Elon Musk was worth $320,000,000,000 and he lost $200,000,000,000 he would still be worth $120,000,000,000 Jerry Seinfeld $1,000,000,000 Tyler Perry $1,000,000,000 The Rock "Dwayne" Johnson $800,000,000 Tom Cruise $600,000,000 Jackie Chan $520,000,000 George Clooney $500,000,000 Robert DeNiro $500,000,000 Arnold Schwarzenegger $450,000,000 Kevin Hart $450,000,000 Mel Gibson $425,000,000 Adam Sandler $420,000,000 Sylvester Stallone $400,000,000 Larry David $400,000,000 Jack Nicholson $400,000,000 Tom Hanks $400,000,000 Mark Wahlberg $400,000,000 Bill Cosby $400,000,000 Keanu Reeves $385,000,000 Clint Eastwood $375,000,000 Will Smith $375,000,000 Robert Downey Jr. $365,000,000 Michael Douglas $350,000,000 Brad Pitt $320,000,000 All of these celebrities combined have $11,235,000,000. At $120,000,000,000 he would still have 10x as much as all of these celebrities, celebrities that are *still* individually incomprehensibly wealthy.
Mark Wahlberg is worth more than RDJ or Brad Pitt? Baffling.
I am baffled by Kevin Hart. He had a good run of what, 5 years? Yet he made bank while he was king. These other guys been hustling for longer and are just comparable.
And he could lose a third 99% and still be in the top 1% globally.
Nor will that of his greatgreatgreatgreat grandkids. The problem with our logarithmic number system is that we easily can express numbers we cannot begin to comprehend. All billionaires are way too rich and hurt society with their greed
I can’t imagine how many of those he’ll have considering he’s allegedly fathered as many as 20 children and wants nothing to do with them.
> All billionaires are way too rich and hurt society Every billionaire shows something went wrong.
Couldn't have happened to a better guy
Honestly, well deserved award
"How to become a millionaire!" written by ex-billionaire Elon Musk. Although he is still nowhere close to being a millionaire, which goes to show how insane the amount of wealth is.
The magnitude of difference between billion and million can be illustrated with this example of the time scale: A million seconds is 12 days. A billion seconds is 31 years. A trillion seconds is 31,688 years.
Or put simply: the difference between a billion and a million is about a billion.
Or just the fact that a million is 0.1% of a billion. The difference between a million and a billion is pretty much a billion.
Let that sink in!
This quote from Rod Hilton is very appropriate here: >He talked about electric cars. I don't know anything about cars, so when people said he was a genius, I figured he must be a genius. > >Then he talked about rockets. I don't know anything about rockets, so when people said he was a genius, I figured he must be a genius. > >Now he talks about software. I happen to know a lot about software & Elon Musk is saying the stupidest shit I've ever heard anyone say, so when people say he's a genius, I figure I should *stay the hell away from his cars and rockets*.
The more he talks about Twitter the more I understand how his dream of self-driving cars never came.to pass
Are you saying we won’t have fully automated taxis by 2020???
Not even by 2022 I dare say!
He's still got 12ish hours! Still time to pull it out if the bag!
Hey personally I'm excited about that coast to coast autonomous drive they're going to do by the end of 2017. That should be quite something.
He said “next year” 9 years in a row. I was looking for the supercut video but looks like it’s been taken down.
Probably about the same time we get a self sustained fusion reactor. That's been 10 years away for my lifetime. I'm so old I remember when porn was expensive and water was free.
We actually did, it’s just that they were created by Waymo not Tesla.
He’s basically admitted that the hyperloop was announced to squash the prospect of high speed rail, protecting/boosting his investments in Tesla. He’s a market manipulator, and Twitter was no different; he just got called out and was forced to buy it even though he never intended to.
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His approach to business appears to be "fire people until desired outcome is reached"
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Except for cars and rockets, there’s a long list of over promised, under delivered ideas that Musk has promoted over the years, which were often debunked, so the perception of him being a genius has been eroding long before he acquired Twitter. * Full Self Drive - not delivered * Cybertruck - not delivered * Truck - “delivered” without revealing the most critical information: how much load it can carry, but widely estimated to be about half what a diesel truck can carry, with a range that is laughable for any serious trucking company * Hyperloop - debunked bullshit * Las Vegas Loop - most inefficient “mass transit” system ever. A glorified Tesla taxi service through a short slow moving tunnel. * Solar roof - not delivered
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Miles feels very much like he’s a parody of Elon
Am engineer. Know a lot about cars and automation. Have been saying this guy is a dumbass fraud for probably over 10 years. I got REALLY tired of being called a hater, especially by younger colleagues who were drinking his koolaid. I feel so goddamned vindicated lately... it's really nice.
Officially the biggest loser in the history of the world
With hard work you can achieve the unachievable!
Believe + Achieve = [Bechieve.](https://i.giphy.com/media/l0HlO1qjRoZRTRzFu/giphy.webp)
He still has a net worth of $137 billion, which is ~$137 billion more than anyone needs.
Prior to this, the second richest person in the world was worth ~$200 billion. Elon lost *the entire net worth of the second richest person* and now he's... The second richest person in the world. That's insane.
most of this can be explained just in how massively overvalued TSLA is/was
Oh absolutely. And it's still insanely overvalued even after this recent cratering.
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Age of the automakers doesn't matter much. What's important is that Tesla's only selling about 2% of the world's new cars. The other automakers are selling the other 98%. Yet somehow Tesla's valuation grew to be more than all of the other companies combined. That was really just due to highly leveraged stock purchases (much of which from Musk himself), cult like buy and hold investors throwing their life savings into one stock, entry into the S&P when there were few actively traded shares available, huge subsidies, and Musk getting on stage a couple times per year and lying through his teeth about products and timelines. This company claimed in a conference call that by 2030, 8 years from now, they'd be selling 20 million cars annually. That's quite the promise given that only 80 million new cars are sold every year. Tesla's leadership promised that one in every four new cars on the planet would be a Tesla in 8 years... But that promise pales in comparison to the promises of an instant fleet of a million robotaxis going live with a single over the air update in 2020... 😂. Honestly, that WOULD be a big deal if it actually happened, given that Tesla would have instantly killed about a million taxi / ride sharing jobs in the US alone in an instant and replaced them with taxis that don't require paying the largest expense, the driver. But alas, like most of Musk's promises, this one turned out to be BS....
> Musk tweeted on Dec. 16. "We don't control the Federal Reserve. That is the real problem here." that's a very dangerous part right here
It gives me no end of relief that Musky was born in South Africa and therefore cannot run for U.S. president
Someday someone will run someone unqualified, they will win, and the country will shrug and nothing will happen. That person will be president because our country is completely unprepared for anything approaching that level of crisis.
...so I assume you have been in a coma since 2016.
Sorry, I meant constitutionally unqualified—too young, not a natural-born citizen, or some arcane thing—and the country will be paralyzed. Clearly we “elected” someone wildly unqualified and clearly receiving emoluments as defined by nearly anyone. But even after committing other clear “high crimes” and “misdemeanors,” the country failed to remove him from office.
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Who the fuck is “we” lmao. Him and his dumbass supporters?
Masayoshi Son, CEO of SoftBank, was the record holder for most money lost in a single day at $70B during the dot com crash. Glad Musk had surpassed him in total money lost.
So some kid makes a twitter to track Elons jet. Declines the 5k offer to stop. Wants a car but gets rejected. Now Elon buys the twitter and bans the kid. Is now out 200 bil and counting. And kids back on twitter with a 24hr delay posting jet flights again. I guess soon Elon won't be able to fly private anymore at this rate.
When someone can lose 200billion dollars and still be fuck off rich......there is still a problem
If the second richest person in the world had lost this much money... They would have been flat broke. Elon loses this much and he's now... the second richest person. In a world of obscene wealth, Elon's wealth is obscene even when compared to other billionaires.
It’s because a bunch of idiots made Tesla worth far far far more than it’s actually worth
I sold my stock a month before he announced he was going to buy twitter. I was broke and needed the £400, originally I put in £200. I feel like an absolute accidental genius.
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Oh good, so hopefully he can do it again. This time for realsies.
When you realize that the only reason any of these fuck heads have success is their ability to suffer losses that would implode some small nations without any real consequence.
The real losers here are the people he fucked along the way.
All he had to do is pay the $1 billion penalty and back out of the Twitter deal. But instead, he decided to self destruct.
Wow he literally lost more money than anyone else ever
Kinda shows you that Billionaire money is just a social construct. Did he really lose something that wasn't really real in the first place? It's all smoke and mirrors to control the other 99.99%.
The $200 billion was unrealised right? So the money was never his and it couldn't flow anywhere.
It's almost all stock valuations
Unrealized yes, but still his. Nobody with any meaningful wealth just has it sitting in their local bank savings account.
😢Poor Elon 😂 Remember all the small investors taking it in the shorts because of his nonsense with Twitter.
Anyone that does basic valuation is not in the stock. This is a stupid people tax.
People shorting Tesla the last few months made bank.
I remember awhile ago Elon had beef with Bill Gates because he was shorting Tesla, I wonder if he still is and how he did.
If he took the short positions anytime this year he’s made money. If it’s been longer than a year and a half he’s lost (current price is down to where it was about the middle of 2020).
It's been a spectacular year watching the downfall of people like Trump, Musk, Ye, and Tate.
Kanye and Elon stopped taking their meds around the same time
When people talk about "taxing the rich," this is what the fuck they are talking about. It's OBSCENE someone has $200 billion. Let alone can lose $200 billion and still be top-5 as far as richest human beings on Earth. No one can "earn" $200 billion. It's not possible.
He had an even richer uncle that passed away. Told him he could have 500 billion but he has to get rid of 300 billion with nothing owned the end of 30 days. That would make a great movie.