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My totally wild idea here is that he's trying to glitch the banking system by incurring the largest possible personal loss (though it's all levered) in history
by AndrewKemendo 4y ago
My totally wild idea here is that he's trying to glitch the banking system by incurring the largest possible personal loss (though it's all levered) in history so that he never has to pay taxes for any of his space adventures in the future
To be clear I don't fall into the "5D Chess Genius Elon Musk" trope
However he's smart and a sociopath who has shown expertise in financial engineering using any sources he can with no regard to the fallout so long as it pushes the "Musk as space leader" narrative
- yellow_lead 4y agoLosing $X money in order to not pay taxes on up to $X income, where you could've just not lost $X in the first place, isn't exactly financial engineering.
- lapcat 4y agoMusk doesn't have to pay taxes on his stock unless and until he sells it, which ironically is what he has been forced to do in order to finance the Twitter deal. So if he wanted to avoid paying taxes, purchasing Twitter was the dumbest idea ever. But I seriously doubt that was his reason. Money aside, Musk seems to genuinely enjoy using Twitter, and all the attention he gets from it, so it would be personally self-destructive for him to destroy the company in some kind of convoluted tax avoidance scheme. If he wanted to lose money, he could do it with a company he doesn't care about.