Valuation != profits. Tesla's profits do not explain Musk's wealth, people have been pointing out for years that the valuations of companies like Tesla make lit

Valuation != profits. Tesla's profits do not explain Musk's wealth, people have been pointing out for years that the valuations of companies like Tesla make little sense. There was a long stretch of many years where they were bleeding red ink like crazy with not much to show for it. The tax system works on accounting reality, not the opinions of stock traders.