We live in a renteer economy. Nobody owns anything, nobody has money, it's all about credit lines and liquidity. And Elon literally was able to leverage billio

We live in a renteer economy. Nobody owns anything, nobody has money, it's all about credit lines and liquidity. And Elon literally was able to leverage billions of dollars to buy out Twitter (and then saddle Twitter itself with most of that debt because leveraged buyouts are a thing). He wasn't able to leverage that kind of money because his creditors think he'd do a so much better job at running the company. He was able to do it because they figured he'll be able to make sure they'd gain more from giving him the money than holding onto it. It's not a meritocracy. Heck, ultimately this is what political power boils down to: not how much you have but how much you can do. And billionaires can do a lot more than a single person with a net worth closer to the median. Framing that in terms of purchase power is just a visual shorthand that's easier to understand without unravelling how the entire system operates.