General Discussion

edhopper

(37,664 posts) Fri Jun 12, 2026, 04:59 PM Jun 12

Musk is a "trillionaire" because of incredibly overpriced stocks.

First there is Tesla, with a market cap of 1.5 trillion, that is 6x more than the worlds biggest car maker, Toyota, that outsells Tesla 10 to 1. There won't be self driving cars, or millions of robo-taxis or home robots or any of the other BS Musk promises.
And now we have Space X, which relies on the US government for 90% of it's revenue, and is still losing money. Currently at about $4-$5 billion a year. But that is where Musk has stuck his unreliable AI nobody uses.
So, while I don't underestimate the stupidity of the investor class, these stocks eventually will come back to Earth.

9 replies

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Highlight:

Musk is a "trillionaire" because of incredibly overpriced stocks. (Original Post) edhopper Jun 12 OP

Eventually, but the market can remain irrational for a long time EdmondDantes_ Jun 12 #1

Nobody needs a trillion dollars bucolic_frolic Jun 12 #2

Plus he produces junk. efhmc Jun 12 #3

Of course Rockefeller ITAL Jun 12 #9

Waiting for all snowybirdie Jun 12 #4

2008 showed us edhopper Jun 12 #5

Does this include the 60% of Americans with 401ks? TheProle Jun 12 #7

Plus side being B.See Jun 12 #6

Mostly our tax money Blue Full Moon Jun 12 #8

EdmondDantes_

(2,253 posts)

1. Eventually, but the market can remain irrational for a long time

Reply to edhopper (Original post)

Fri Jun 12, 2026, 05:06 PM

Jun 12

Don't get me wrong, I like looking at my 401k going up, but yes there are a number of vastly overpriced stocks based on hopes and dreams.

bucolic_frolic

(56,258 posts)

2. Nobody needs a trillion dollars

Reply to edhopper (Original post)

Fri Jun 12, 2026, 05:06 PM

Jun 12

We knew it in the Standard Oil era, we knew it when they broke up other businesses.

This is too much power in the hands of too few.

efhmc

(17,244 posts)

3. Plus he produces junk.

Reply to bucolic_frolic (Reply #2)

Fri Jun 12, 2026, 05:10 PM

Jun 12

ITAL

(1,430 posts)

9. Of course Rockefeller

Reply to bucolic_frolic (Reply #2)

Fri Jun 12, 2026, 06:36 PM

Jun 12

Ironically ended up making even more money after they broke up Standard Oil than he had prior. He was a large stock holder in all the companies that it was busted up into and when they started competing against each other...he profited from it all. I remember seeing an interview with his grandson or great grand son once, where they said than old man Rockefeller said something along the lines of "If I knew I would make more after the split up Standard Oil, I never would have fought it so hard."