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SpaceX IPO makes Elon Musk the world's first trillionaire (www.reuters.com)

submitted 1 month ago by davel@lemmy.ml to c/worldnews@lemmy.ml

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[–] LadyMeow@lemmy.blahaj.zone 56 points 1 month ago (1 children)

Can we guillotine him now?

[–] wasabi_noir@lemmy.zip 17 points 1 month ago (1 children)

Is he still wearing his kid like a human shield?

[–] Asfalttikyntaja@sopuli.xyz 7 points 1 month ago (1 children)

Don’t let that be excuse. He’s growing up under Musk’s guidance.

[–] reagansrottencorpse@lemmy.ml 3 points 1 month ago

Yeah fuck him and his entire family besides his daughter that disowned him.

[–] usernametbd@lemmy.zip 44 points 1 month ago (1 children)

He is as overvalued as his companies. The stock markets speculation and juicing of stock prices on hype is so obscene. Space X lost billions last year. Its road map to profitability is dependent on tech that doesn’t exist yet and government contracts from an over leveraged government and a right wing party rapidly losing favor. Tesla is wildly overvalued as well. He is a hype machine with little substance and his wealth is very tied to that hype. Fuck Elon.

[–] gary_host_laptop@lemmy.ml 14 points 1 month ago (2 children)

you're describing literally every billionaire

[–] usernametbd@lemmy.zip 7 points 1 month ago

True that - Elon is just the most glaring example.

[–] definitemaybe@lemmy.ca 0 points 1 month ago

Most, maybe, but off the top of my head, I can think of two easy counterexamples:

Warren Buffett's wealth is in diverse investments; it's only inflated insofar as the entire stock market is overvalued
Gabe Newell's wealth is almost entirely in Steam, which isn't even publicly traded so can't really be overvalued by "hype"

[+] radiofreebc@lemmy.world 33 points 1 month ago* (last edited 1 month ago) (3 children)

[deleted]

[–] mlg@lemmy.world 13 points 1 month ago

It's funny that we're at the point where we have billionaires who aren't even on the same order of magnitude as those approaching the trillionaore threshold.

Imagine having 5 billion dollars to your name and some dude out there has 100 times that amount at 500 billion dollars.

[–] IsoKiero@sopuli.xyz 5 points 1 month ago

One million seconds is 11.5 days. One billion seconds is 31.7 years. A trillion seconds is 31,688 years.

Or with monetary comparisons, there's only a handfuld of countries on this planet with higher GPD than his net worth. Or, if that was somehow some kind of value instead of made-up numbers, Elon alone would contribute to the world about as much as half of Canada or everyone in Taiwan.

Obviously that doesn't quite work like that, but maybe one person should not have more financial leverage than majority of whole countries on the planet.

[–] AlecSadler@lemmy.dbzer0.com 21 points 1 month ago

Kill em all

[–] HulkSmashBurgers@reddthat.com 8 points 1 month ago

Disgusting. Now let's tax the fuck outta him and all the other obscenely rich fucks!

[–] nonentity@sh.itjust.works 3 points 1 month ago

Financial obesity is an existential threat to any society that tolerates it, and needs to cease being celebrated, rewarded, and positioned as an aspirational goal.

Corporations are the only ‘persons’ which should be subjected to capital punishment, but trillionaires should be forced to transition into billionaires, and billionaires should be euthanised through taxation.