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According to Elon Musk’s own math, the company formerly known as Twitter has lost 90% of its value and could be worth just $4 billion (finance.yahoo.com)
submitted 3 years ago by to c/technology@lemmy.world
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[–] 47 points 3 years ago (3 children)

When you have a net worth measured in the billions of dollars, it's genuinely impressive to be able to lose money. With that kind of sum behind your name, you could just do nothing and out-earn most people on the planet with just interest alone. To actually be able to lose money? Now that takes work!

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  • [–] 17 points 3 years ago* (last edited 3 years ago) (2 children)

    Since Elon is just flushing money down the toilet do you think he might do me a solid and slice me off like 50k? Brah, that's like if I dropped a penny on you from my last paycheck, right? I ain't even getting greedy.

    Like he could do that for 800,000 people and it would just be buying twitter, right?

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  • [–] 14 points 3 years ago (1 child)

    With $40 billion you could give a random person $1 million today. Then give another person $1 million the next day. And so on, for 100 years.

    And you'd still have a private jet, a bunch of mansions, a fleet of luxury cars, and a bunch of yachts.

    It's completely bizarre that a billionaire that's so desperate to be popular doesn't just give money to people. They don't want to give up the power that wealth gives them and so try to trick people into liking them.

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  • [–] 3 points 3 years ago

    I'm assuming he could still be accruing wealth if he did that.

    Assuming he made at least 5% or so per year on investment income, that would be 2 billion, and if you assume a 20% tax rate on that, it would be 1.6 billion, still more than 365 million it would take to give away one million every day.

    And so if he could live on less than ~1.2 billion per year, he'd still be gaining wealth...

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