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Music to my eyes. If there ever is a person deserving of this treatment, it’s him.
He has still not lost enough. I wonder how long this "take money as a loan from the company to avoid paying taxes" will work. Hopefully, they will stop this and thus make him pay taxes for years and billions.
You know, they say this Musk guy is such a smart businessman, but I personally have NEVER lost $148 billion, much less in the span of two months.
Isn't it just hilarious how somehow, being rich just gets one a free pass to also "be smart"?
Pathetic. Irresponsible. The most I’ve ever lost in a month was $20
This is so funny. 🤣
148.2 billion. He gave 200 million to Trump!
There are only about 30,000 people in the world who have a net worth of at least 100 million.
Isn't that fun! /s
Nobody loses anything when stock prices go down unless they start selling at a loss. Tesla stocks are up 48% from a year ago. They're only doing bad compared to 2 months ago when the price was at all time high.
I don't think that's relevant in this case because I don't think elon has the capacity to understand that. He's a man that pays to cheat in online gacha games for clout; he is not emotionally built to handle seeing number get smaller and reacting rationally to that
Whether Elon understands this or not is irrelevant. The stock market's mechanics don't change based on his emotional reactions - paper losses aren't actual until realized through selling. Your assumptions about Elon's mental capacity are speculative and don't affect basic facts: Tesla stock remains up 48% over last year. If you dislike Elon, that's fair enough, but at least understand the basics before making claims about his comprehension.
So you're telling me that stock markets don't respond to investor sentiment, they respond to "basic facts"? Am I being trolled right now?
Nope, that's not what I said. You're building a strawman and moving the goal posts now. We're talking about a single individual that you claim can't emotionally handle seeing their stock value going down.
"Whether Elon understands this or not is irrelevant. The stock market's mechanics don't change based on his emotional reactions"
You may recognize those as your own words from the comment that I was responding to. I'm not moving goalposts or making strawman arguments, you are either choosing not to or failing to follow the thread of your own statements.
I'll explain the link then. Investor sentiment often turns sour when there are scandals with the c-suite of companies. It's also affected by the public statements and confidence of said c-suite. Currently elon is embroiled on one of the largest and most brand image damaging scandals in recent memory. Further, in his recent appearances he's both looked and sounded like a slowly deflating basketball. This has both visibly affected investor confidence in his companies, and is evidence supporting my claim that he can't handle seeing number go down. This is why your claim that "the stock markets don't change based on his emotional reaction" is equivalent to saying that markets don't respond to investor sentiment
I don't know why you keep talking about investor sentiment when that has nothing to do with what I've been talking about here. I've been narrowly speaking of Elon himself. How he feels doesn't matter. What matters is what he does. Stocks fluctuate; that's called volatility, and every investor knows this. A portfolio is just a stack of paper until you convert it back into cash. How you feel about that stack of paper is entirely irrelevant.
Because investor sentiment is the reason your claims are wrong. Of course you haven't been talking about it; it dismantles your argument, and you're here to win a debate rather than to have a conversation. I wouldn't talk about either if I were in your position and trying to feel right on the internet.
"How he feels doesn't matter. What matters is what he does" is flatly incorrect; how people feel plays a significant role in determining how they act and how they present themselves/their brand in public. These things go on to affect things like investor confidence, which goes on to effect stock market prices. These variables are all far too coupled to claim that any one matters but any other does not.
"A portfolio is just a stack of paper until you convert it back into cash". Yeah, that's kinda how all currency works. It's just a stack of paper until you convert it into goods. Given the propensity of the rich to borrow against their net worth whenever they need liquid cash to acquire goods, losing net worth on the stock market is a very real financial loss in his case.
Let's take a look at my original message again:
Nobody loses anything when stock prices go down unless they start selling at a loss. Tesla stocks are up 48% from a year ago. They’re only doing bad compared to 2 months ago when the price was at all time high.
Now what does any of what you been talking about have to do with this? What am I wrong about there? You've just been rambling about completely irrelevant stuff since your very first response to me. I literally don't even know what you disagree about.
Shhhh. Lemmy doesn't want to hear truth. Neither they want to hear that Musk actually doesn't own tesla, only 12.8% of it. He still has billions of his own money and is set for life.
Unless he got Luigi-ed, he has nothing to worry about.
That's it, elon. You're outlived your usefulness
How to lose $148 billion in less than two months
Step 1. Have $148 billion or more
...Shit, this guide is useless.
It's almost like the whole planet is bullying xelon. He seems so sad, he's losing so much. So many negative memes & comments. Stories about how corrupt he is and how unsafe all his businesses are. I'll bet he's teetering on the edge of a MASSIVE mental meltdown. So, citizens of Earth, keep bullying elon!
all he had to do was shut up online.
That's how I feel about trump. All he had to do was keep committing fraud and crimes quietly. Instead he decided to make us all aware of what a colossal fuck up he is. Xelon is like his twin. May they both hang as US traitors.
two billionaires, unfathomably rich individuals, in the last ten years that having a good public image was overrated, but decided they'd rather use their platform to hurt people, and alienate anyone who liked them, but wasn't a raging bigot. is the allure of being mean to people on twitter.com that great?
if Musk had shut up just 5 years ago, he'd probably have more money, more respect, but somewhat less power. instead he's become the guy a lot of people are excited to see have a total breakdown, and hopefully lose everything.
If he was bankrupt and on the street that still would not be enough for me at this point.
For someone as monstrous as him, what punishment could even be appropriate? What possible way could such aggressively destructive and anti social behavior be rehabilitated? I struggle to call anyone a lost cause, but if anyone ever was...
If I saw him homeless on The street id buy him a cake then smash the cake in front of him
I would hand him a bottle of pee if I saw him homeless on the strret.
If he keeps losing money he'll eventually hit the illegal immigrant zone and get taken go Gitmo.
I've been wondering about this... Billionaires do the "borrow against their holdings so they pay no taxes, do it again to pay those off, then die" thing
So his holdings doubled and crashed back down (and still falling) over the course of a few months. He leveraged a ton of it to buy Twitter, which has also crashed.
So is there a point where he loses everything? If Tesla drops too low, can they call in the debt?
He doesn't seem to own much property directly, even his mini home is basically a publicity stunt while he basically lives with various friends
So if his stocks continue to crash, is there a point where it all just falls apart?
So is there a point where he loses everything? If Tesla drops too low, can they call in the debt?
Yes, to whatever extent that Elon-owned stock is pledged as collateral for his personal loans. Loans like that always carry provisions where the lender can call in the collateral if the value drops to a certain ratio of the overall loan balance.
So if Tesla stock plunges enough (and we have no way of knowing exactly how much is enough), that can cascade to where Elon needs to put up some cash, or other property, or pledge more shares, or it all comes crashing down where his collateral gets wiped out at the bottom.
Thanks, I thought so but it's good to have confirmation my fantasy could play out
The sad part is, even if his empire disappears, he's still gonna leave wealthier than most of us.
No, he'd be killed. He's made too many enemies... Both in his peers for revealing himself to be a liability, and among the working class worldwide
If he falls out of grace, he's going down like Epstein, if not by the adjuster
Lovely imagery, but I think words get in the way of the magnitude of the wealth here.
There's (unfortunately) not a realistic scenario where he's not a billionaire.
You want me to paint a picture? I'm watching a god bleed, and now I'm wondering what it takes for one to fall
You can say it's impossible, but we're in the onion timeline. We're so far beyond anything humanity has ever gone through before... History might rhyme, but we're in uncharted territory
Nah this is charted out somewhat well. There have been many untouchable folks with so much wealth, power, and influence so as to be almost divine in folks eyes. While plenty have lived into old age plenty still died choking on their own blood with a noose around their neck. I'm hoping for the latter personally.
You act like we're saying different things...
But history rhymes, it doesn't repeat. We're in uncharted territory... The final outcome will probably rhyme, but there's endless differences from anything humanity has ever experienced before
It just means he'll continue to double down on his current activities. Like a cornered rat, he has nothing to lose now. So he will break every law possible to maintain.
Which is not good.
Trump bankrupts everything he touches, including people
lol what a loser.
I hope we get rid of rim soon, one way or the other.
Here's hoping that Musk is someday forced to live on social security. Or dead. Either outcome would be fine by me.
Well, we'll all be dead someday.
Him first, so that we can piss on his grave.
First it was Twitter, and now this. Boy, Elon sure knows how to make himself look like a "genius."