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Imagine if Amazon and all jobs out there were cooperatively owned? (lemmy.world)
submitted 1 year ago* by to c/aboringdystopia@lemmy.world
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Now I need to do the math on space karen/ henery ford 2.0 aka Mr my autism makes me prone to outbursts of fascist apologia.

I did the math recently and if you took the assets of the wealthiest 1% and divided only half of it amongst the remaining 336.3 million Americans it would be a check of approximately 68,000 for every man woman and child and those bloated blood sucking leaches would still have an average remainder of just under 6 million dollars each.

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[–] 58 points 1 year ago (7 children)

Musk paid $44 billion in cash for Twitter. Billionaires only have wealth on paper until they want to buy a company, then magically they have the cash.

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  • [–] 28 points 1 year ago (1 child)

    It’s my understanding that Musk borrowed heavily from investors for that cash.

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  • [–] 20 points 1 year ago

    Buy, Borrow, Die strategy.

    1. Buy something that potentially increases in value (real estate, companies, stock etc)

    2. Borrow money against the appreciated value of step 1, this borrowing in not taxable.

    3. Die and leave assets to whoever and never pay tax on the assets.

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  • [–] 13 points 1 year ago

    It's called leveraged borrowing, it's how the billionaire class pays for things. The banks typically give them super low rates and generous terms on these types of loans.

    So what Elon did was took a loan against his assets, Tesla stock, at a low APR with very loose repayment terms, then paired that with money pledged by a few other minority investors and that's how he was able to quickly come up with 44 billion to buy Twitter.

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  • [–] 3 points 1 year ago

    Musk paid very little for twitter. He paid $0 in real money. He traded (iirc) like $13b of Tesla stock. The rest was filled by Saudi investors and western banks, who were greatly encouraged to own and control one of the primary modalities of communication in the 21st century. Either way very little actual cash transferred hands

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