You have my full support and i fully agree on your last point but in nuance Tesla could go bankrupt and Musks wealth will hardly make a dent. With a budget of spending a mil a day it would still take centuries to blow trough all his money.
Someone on Lemmy once calculated that he could lose 99% of his net value, then lose 99% of what’s left and he’d still be a multimillionaire. From the 320B, that would still leave him with 32M.
Also worth noting that he’s stated himself that his companies’ values are all heavily tied together, and that it’s a “carefully balanced house of cards”. If Tesla falls, so to does everything else.
Yes it is, and crashing Tesla stock will certainly make him less rich. He still has his other shit companies, so crashing Tesla stocks alone won’t make him poor, but we might not have to hear quite so much about him.
It’s not about denting his money, it’s about denting his image. Let the free market see he’s toxic, and that will send ripples to places even Republicans care about: their wallets. Specifically, it can impact Tesla stock.
You have my full support and i fully agree on your last point but in nuance Tesla could go bankrupt and Musks wealth will hardly make a dent. With a budget of spending a mil a day it would still take centuries to blow trough all his money.
Isn’t most of his wealth in stocks? If investors think Tesla is a bad stock (because no one will buy the cars), then Musk is poor.
Actually you are correct. I thought i had found a number for his liquid money but it wasn’t.
Also got a bit hung up on his stake in Tesla being just 13% but with Tesla being valued at ~900B thats still over ~100B of his ~320B “value”
Someone on Lemmy once calculated that he could lose 99% of his net value, then lose 99% of what’s left and he’d still be a multimillionaire. From the 320B, that would still leave him with 32M.
Sooner than later his shareholders will sue him for burning their money. This should be interesting.
Also worth noting that he’s stated himself that his companies’ values are all heavily tied together, and that it’s a “carefully balanced house of cards”. If Tesla falls, so to does everything else.
Yes it is, and crashing Tesla stock will certainly make him less rich. He still has his other shit companies, so crashing Tesla stocks alone won’t make him poor, but we might not have to hear quite so much about him.
Tesla and space x are the big ones.
Agreed, and a big advertisor exodus from Twitter would help.
You didn’t hear? They’re coming back as “not advertising is more risky” now that he has all this power…
It’s not about denting his money, it’s about denting his image. Let the free market see he’s toxic, and that will send ripples to places even Republicans care about: their wallets. Specifically, it can impact Tesla stock.
Republicans dropped any pretense of caring about free markets. Auto makers were already getting bailed out, and now he’s bought the Oval Office.