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Starlunk (lemmy.world)
submitted 1 year ago by to c/enoughmuskspam@lemmy.world
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[–] 34 points 1 year ago (3 children)

Thing is, he's not. He can, and has, lose more money than I'll ever see and not have any change in lifestyle.

It simply doesn't effect him. All of his companies could collapse completely tomorrow and he probably wouldn't even notice (financially speaking).

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  • [–] 60 points 1 year ago (3 children)

    He may not notice the financial loss but at the amount of money he's trying to amass money isn't the point. Power and control are the point. If his companies go under he'll loose a lot of power and influence and I'm not sure his ego could handle that. He seems to crave attention of any kind. I'd be happy if he were reduced to a regular very rich guy with nothing of consequence to say anymore.

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  • [–] 7 points 1 year ago* (1 child)

    What is his most profitable asset? Tesla stock? Spacex stock? So long as his total assets are worth $4 billion or more, there’s no change. Anything below that and he’ll lose influence due to financial strain. I’m looking forward to it!

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  • [–] 7 points 1 year ago (1 child)

    Why 4B? Why not 50M? That's way enough for an overtly comfortable lifestyle

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  • [–] 8 points 1 year ago (2 children)

    Any less and he couldn’t sustainably sway the entirety of the US’s governing structure by dividends alone, with redundancy.

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  • [–] 3 points 1 year ago (1 child)

    Is there some finance math behind that or something? Sounds like it's a pretty concrete figure when you say it like that, but I'm not financially literate enough to understand

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  • [–] 4 points 1 year ago (2 children)

    300M to buy a presidency once every four years, leaving him 3.7B to recoup his costs at 8%/year to stay ahead of inflation. If that wouldn’t work out, swap to purchasing the ears of 20% of all US senators.

    Though I didn’t realize that senate races average 90M now, so my figures were out of date. I was just winging it with mental math, nothing authoritative.

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  • [–] 3 points 1 year ago

    What part of Musks personality indicates he is this prudent? My guess is he would gamble it on the next idea but the market will turn in him because losing people billions (the only way he ends up with only 4 billion) is unforgivable.

    Trump only lost millions and had to turn to the mob. If Musk worked with the mob he'd be at the bottom of a river in a week .

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  • [–] 3 points 1 year ago (1 child)

    If his companies go under he’ll loose a lot of power and influence and I’m not sure his ego could handle that.

    He's currently an advisor the the United States President and has been given full authority to do "whatever he wants" to all executive branch offices.

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  • [–] 6 points 1 year ago

    Musk is one of the few billionaire who made his money via meme stock. He is proving to be pretty stupid so it wouldn't surprise me if he lose it all.

    Best to think of him as a lottery winner not some capitalists genius. Plenty of examples of them going broke.

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