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> Elon Musk being more wealthy does not diminish your wealth The entire concept of money and the economy is scarcity. So yes, it literally does.
by consteval 2y ago
> Elon Musk being more wealthy does not diminish your wealth
The entire concept of money and the economy is scarcity. So yes, it literally does.
- AnimalMuppet 2y agoYes and no. Yes, Elon having a dollar means that I don't have that dollar. But no, Elon has most of his money tied up in stock, and that means he's not using it to raise the price of groceries or houses. He's not competing for houses in my neighborhood or groceries at my store. The potential is there - he could sell all his stock and start buying up houses. But at least at the moment, he isn't. What he's doing at the moment is, he's driving up the price of the stock he holds, which doesn't affect my wealth at all.
- Gud 2y agoHe doesn’t have to sell it. Elon Musk can take out massive, low interest loans to spend his money