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>"while Musk and the big shareholders alone trap the lion's share of the rewards" I get you but I think Musk doesn't accumulate wealth in the way you are think
by BellLabradors 6y ago
>"while Musk and the big shareholders alone trap the lion's share of the rewards"
I get you but I think Musk doesn't accumulate wealth in the way you are thinking here. And that in general he at least works the same shitty hours and conditions he expects others to work. A relevant interview:
Döpfner: Are you looking for places?
Musk: No, I'm not really buying any places. I stay at a hotel sometimes.
Döpfner: Where are you sleeping tonight?
Musk: I'm just going to be sleeping at the factory in one of the conference rooms.
Döpfner: You'll be sleeping in a conference room in the factory?
Musk: Yeah.
Döpfner: Alone?
Musk: That's my understanding, yeah. You've got to get a feel for the situation.
Döpfner: You said, in a recent quote, that possession just weighs you down. And that's why you want to get rid of your possessions. And that's why you have literally started to sell property. You have sold belongings. Is it more a metaphor or are you literally selling your belongings?
Musk: I sold my primary home.
Döpfner: The one in LA?
Musk: It was done two months ago. It was actually bought by a guy in China. And then I sold the house I own across the road, which used to be owned by Gene Wilder. It's very much his personality, and I sold it below market to his nephew who grew up there. And then we're in the process of selling my other houses. I guess I'll rent a place somewhere.
Döpfner: So why are you doing it? Because it's too much of an obligation, or it's limiting your freedom? You are considered to be the second-wealthiest person in the world. And now you are getting rid of your property.
Musk: In fact, I'll have basically almost no possessions with a monetary value, apart from the stock in the companies. So, if things are intense at work, I like just sleeping in the factory or the office. And I obviously need a place if my kids are there. So, I'll just rent a place or something. And a lot of the time it's just me, so I don't really need a big place.
Döpfner: So, no art collection, no cars, no real-estate property, no other stuff that we usually associate with wealthy people. Do you believe that getting rid of all that makes you a free man?
Musk: Yes, essentially, I think that also. Like the reason that I am accumulating wealth, if you will, which is really just stock in Tesla and SpaceX. The only publicly traded stock I own is Tesla. That's it. If Tesla and SpaceX go bankrupt, I will go bankrupt personally. One-hundred percent. But I also think, why should I try to have stock anyway. Why do I have all this stuff? Going back to what I was saying earlier, I think it is important for humanity to become a spacefaring civilization and a multiplanet species. And it's going to take a lot of resources to build a city on Mars. I want to be able to contribute as much as possible to the city on Mars. That means just a lot of capital.
Döpfner: And you want to focus on that?
Musk: Yes, and I'm also just trying to make clear that I'm serious about this. And it's not about personal consumption. Because people will attack me and say, oh, he's got all these possessions. He's got all these houses. OK, now I don't have them anymore.
https://www.businessinsider.com/elon-musk-interview-axel-springer-tesla-accelerate-advent-of-sustainable-energy?r=US&IR=T https://www.businessinsider.com/elon-musk-interview-axel-spr...
- burkaman 6y ago> And that in general he at least works the same shitty hours and conditions he expects others to work. This is not at all an excuse for pressuring others to do the same. This interview is completely irrelevant. What he decides to buy in his personal life has nothing to do with his wealth, and doesn't change the fact that he's one of the richest people in the history of the planet.
- TLightful 6y agoOh please, come on... it doesn't matter what he does with his wealth, just that he has accummulated such an incredible amount. He could just as easily change his mind tomorrow about what he wishes to do with it tomorrow. And that's not even touching on the argument about whether what he is using his wealth on is the best use of that wealth.
- fullshark 6y agoI agree with your main point I just wonder if he's trying to avoid taxes, in particular get out in front of a wealth tax which was proposed in CA with his sudden "sell all my houses" position.