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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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[–] 95 points 3 years ago (22 children)

When no-one was looking, Elon Musk lost forty billion. He lost 40 billion. That's as many as four tens billions. And that's terrible.

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  • [–] 31 points 3 years ago (3 children)

    I never would have guessed that Musk is a billion times worse than Lex Luthor, but the math is right there. Terrible.

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  • [–] 10 points 3 years ago

    He could have ended world hunger multiple times. But instead he bought a social media site so he could be popular with the Nazi crowd.

    On the bright side, whenever anyone fucks things up now, they can think "well at least at least I didn't fuck things up as badly as Elon Musk."

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  • [–] 7 points 3 years ago* (9 children)

    Terrible for him. Great for everyone else that that 40 billion is now in the hands of other people. 

    It’s also ironic, that he is single-handedly the greatest redistributor of his own wealth. 

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  • [–] 17 points 3 years ago (5 children)

    That's not really how that works. He just reduced the value of the site. He nuked value out of existence.

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  • [–] 16 points 3 years ago (2 children)

    I mean he did spend 44 billion prior to said nuking. Site isn't worth as much now sure, but the volume of currency still traveled into the hands of others.

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  • [–] 7 points 3 years ago

    40 billion going into the bank accounts of investors that previously owned Twitter stock certainly is a redistribution of wealth, but I doubt it’s the kind you’re referring to.

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  • [+] 3 points 3 years ago* (last edited 7 months ago) (5 children)
    [deleted]
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  • [–] 5 points 3 years ago (2 children)

    While one million is a pretty good amount of cash, you're delusional if you thinks it's a "never working again" amount of money. I had this talk pretty recently with a friend of mine, if he used it to finish paying his house (150k) at 24k a year it would not even last 40 years.

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  • [–] 2 points 3 years ago*

    At a 4% return, a million nets you around 4000k/month without affecting the principle. After taxes, youre likely walking away with 40k/yr.

    Plently of places in the US you can live for around 40k/yr. Not luxury, but if youre fine with rural to semi rural, you can do well on interest alone.

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