Yeah sure I also think that he is a trillionare at the moment. I was just trying to show that it’s absurd to say he has the money even if the stock price falls because he’s already liquidated it.
To add to what the other user said, this is why the rich convert their money into real estate wealth as well. Not only does it hold its value better than cash, it appreciates faster than any savings account ever could, and the wealthy take a loan out on it when they need cash, and then pay that loan off with money from a loan on a different piece of property.
By repeating this over and over, they go their whole lives without ever having to actually give up any of their assets to pay off any of these loans, and when they die, the debt disappears alongside them.
Almost all of them. That’s how the Epstein class fund their lifestyles, they borrow against their stocks. This is why the Epstein class always want low interest rates; it is not about mortgages, at least not the kind where someone is homeless because they missed a payment.
People give him 170 to 300$ for worthless share. He get to keep this money, now the valuation on the shares he have got up because people hedge fund were fighting for the useless one. Now when the dust settles we will see how Musk will do but in any case he got out with a filthy bunch of money
World’s first ex-trillionaire , yes?
Nope. Since everyone bought his shares he got to keep their money
By that logic he’s not a trillionaire at all. They only sold 4% of the company for some 68 billion USD. A trillion dollars was never liquidated.
Edit: 4.3% and 75 billion are the correct numbers.
He gets to borrow against the shares as if he has that trillion in cash.
I wonder what his will looks like. Who gets to keep it all if he ODs on Ketamine.
Yeah sure I also think that he is a trillionare at the moment. I was just trying to show that it’s absurd to say he has the money even if the stock price falls because he’s already liquidated it.
What moron bank would lend against no actual collateral.
To add to what the other user said, this is why the rich convert their money into real estate wealth as well. Not only does it hold its value better than cash, it appreciates faster than any savings account ever could, and the wealthy take a loan out on it when they need cash, and then pay that loan off with money from a loan on a different piece of property.
By repeating this over and over, they go their whole lives without ever having to actually give up any of their assets to pay off any of these loans, and when they die, the debt disappears alongside them.
Almost all of them. That’s how the Epstein class fund their lifestyles, they borrow against their stocks. This is why the Epstein class always want low interest rates; it is not about mortgages, at least not the kind where someone is homeless because they missed a payment.
https://taxproject.org/carried-interest/
That’s… not how this works.
People give him 170 to 300$ for worthless share. He get to keep this money, now the valuation on the shares he have got up because
peoplehedge fund were fighting for the useless one. Now when the dust settles we will see how Musk will do but in any case he got out with a filthy bunch of moneyMost of his net worth is still in his ownership of his remaining shares. He didn’t sell everything he owned. He has his special shares still.
No, SpaceX’s valuation hasn’t really decreased significantly. Musk is still comfortably a trillionaire.