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"Elon is currently sitting on 817,000 lifetimes worth of money." I think that's a wrong perception, especially in this case. Elon Musk does not have nearly a t
by deepsummer 4mo ago
"Elon is currently sitting on 817,000 lifetimes worth of money."
I think that's a wrong perception, especially in this case. Elon Musk does not have nearly a trillion dollar in cash. He holds shares in companies that have a market worth of a trillion dollar. But as soon as he sells, and thus wouldn't be involved with them anymore, they would be only worth a fraction of that. Tesla, in particular, would probably be bankrupt.
- voidUpdate 4mo agoAnd if you sell the shares, you get money back. He owns assets that are valued in excess of 800,000 lifetimes of money. If you can sidestep income tax by simply getting your income in assets rather than banknotes, something has gone wrong somewhere
- deepsummer 4mo agoA Tesla without Musk isn't worth much. It's not that profitable. Tesla's P/E ratio is 350 or so - absolutely crazy. Ford's and Toyota's are about 10. The largest Chinese electric car maker's (BYD) PE/ratio is 20. People are buying Tesla shares because they believe in Musk. The moment he announces that he is out, his wealth is going down by 90% or more.
- voidUpdate 4mo agoIf he wanted to get out and sell his stocks, why would he care if it collapses after he leaves? He sells his stocks when the value of the company is still high
- deleted 4mo ago[deleted]
- deepsummer 4mo ago> If he wanted to get out and sell his stocks, why would he care if it collapses after he leaves? "Selling the stock" is not a single transaction. The moment he leaves Tesla, or starts selling shares (which would take weeks or months), the stock collapses.