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Many people think net worth = cash on hand/available credit to borrow freely against. Could he actually purchase $400 billion worth of goods or services right n
by tencentshill 2y ago
Many people think net worth = cash on hand/available credit to borrow freely against. Could he actually purchase $400 billion worth of goods or services right now?
- paulpauper 2y ago[flagged]
- legitster 2y agoSmall amounts at a time though - if you tried to dump a billion dollars worth of shares all at the same time, you would end up with much less than a billion. Bezos doesn't actually convert his stock into cash for this reason - he borrows against their value.
- paulpauper 2y agothen that also proves my point. he can borrow against it. there are plenty of ways to get the value out of the stock
- legitster 2y agoKinda and sometimes. In this case most of Musk's growth in net worth was from a private valuation of SpaceX shares. They don't trade on the open market, so it would be harder to actually turn those to cash. To OP's credit, nobody is arguing Musk is broke. But having a higher net worth suddenly overnight doesn't often correlate to a change in purchasing power.
- chistev 2y agoWhy would he?
- wmf 2y agoOf course not but who cares?