cost the average American over $3000.

Some historians say the Crusades and the Knights Templar were organized like banks or corporations. Knights helped move goods and could obtain credits or make deposits on their routes.

The LLCs began the Age of Exploration. Dutch East India Company and similar. Invest in company assets, insulate yourself from liability, hire thugs to conquer the world by whatever means necessary. Early venture capital.

Then came insurance. Lloyd's of London. And the great banking houses from European capitals. Stock exchanges. Everyone wanted to make money, rarely a thought to economic inequality.

That is what he'd need available just to do that "good deed" and still maintain the few actual bills he pays on current lifestyle for the rest of the year.

Most of that trillion dollars he claims for himself is leveraged in the debt and differments he took on to become a multi-billionaire.

It's not just leverage.
His holdings and cult of "potential" that supports the gross overvaluation of his holdings create a situation where he can't liquidate.
For instance, he owns 20% of TSLA. Their valuation is a bit under $1.3 trillion. (Ignore, for now, that lack of justification for the market value.)
He can't sell any appreciable amount of it, because the markets would panic over him selling his own company's stock, and the price would plummet.
Same with SpaceX & his crypto holdings.
This negatively affects any liquidity because if one can't sell holdings for cash, it is, by definition, not liquid.

We are prisoners of their whims.

The market is irrational short term. Longer term, not so much. I wonder what SpaceX's first "earnings" call will be like?

Against his paper assets and they are protected against taxation.

Obviously it’s time for a reset on wealth. It isn’t working.

Saw the future at that point, and it's one I didn't want to be part of. Tried talking to my coworker (a "libertarian" repub), and he couldn't at all understand what I was trying to say. I shake my head, cause they're no smarter now than they were then... maybe even dumber!

We live in Europe, a control-freak society.

The governments here want to know EVERYTHING that every private citizen does. The best way to do that is with a cashless society and everyone having cards. When Cyprus found itself in a budget crunch, it just electronically went into the bank account of everyone in the country and took 10% of every amount over €100,000. *poof* money gone.

I live in a country where the Nazis controlled everything 90 years ago, and just a few hundred KM to the East, so did Stalin (or, at least he tried). Even a couple of years ago, we were in a small town in Massachusetts in a small local grocery store when their electronic payment system broke down. They announced that they could only take cash until the system had been repaired. A young mother burst into tears because she was there to buy a $5 package of baby formula for her infant, and had only a card. My wife took pity on her, and fronted her the $5 in cash. She wanted to actually get our address to return the money. Sending $5 to Germany? Even if she sent a $5 bill in the mail, it would have cost her $1.25 in postage. My wife told her to forget it, and repay her by never forgetting to bring cash anywhere.

No government has any business knowing what food we buy, or where--or what shows or movies we see or when. They have no business knowing what books we buy, or what music we listen to. The socialist governments of Eastern Europe were like that in the mid 20th century, and their secret police collapsed under the very weight of the information they had collected on their own citizens. East Germans were astonished when they got to see the files the Stasi had kept on them. My wife and I use cash wherever and whenever we can. My wife's parents and relatives lived under the National Socialists. Some friends of our lived under their successors, the SED and their Stasi. National Socialists, Soviet Socialists, Unity Socialists, the label didn't matter. Their actions did. It was enough. No, thanks. Control freaks do not belong at the controls of any government. Let the people earn their cash and spend it as they see fit without some misfit in a uniform (or a computer screen) recording every cent and every date.

I meant money. I too am inherently skeptical of people and groups who are more than casually interested in me, and what I do. They usually want something that doesn't benefit me as much as them. In the end, it's usually my money, or my information, which of course is monetized.

Remove the money if you want egalitarianism, privacy and peace.

Never gonna happen, but it's a fun thought.

A bunch of the employees are millionaires now.

Managed liquidity so the sell side of the market doesn't drive the price down.

I imagine many employees will be hanging onto their shares indefinitely.

Those long-term holdings will be marginable, so they can be collateral for borrowings which can support an upgrade to lifestyles with very favorable tax treatment.

They are commonly referred to as "Constitutional Amendments."

They take quite a while and a lot of effort.

For Elon, he wouldn't know how to survive on such a piddling sum. He'd have to start pinching pennies and cutting back on the extras.

is the epitome of evil. When my husband and I still bought lottery tickets, we would talk about causes and charities we would donate money to, not what extravagances we could spend it on, but how we could help others. As I've said many times here, with Democrats, it's about we, with Republicans, it's about me.

and actually made good money... high five figures. Stashed away most of it for when the next string of rainy days hit, but I also used some of it to buy tickets to plays, etc... even ones that I didn't want to particularly see. Why? Because for the first time in my life, I could buy tickets for me, my Mom, and my Sister to go and share the experience together. That meant more to me than seeing the show... even CATS... ever could. The fact that I could make *their* lives a little happier. And then, contract was changed to GS and at one of the lowest levels, and hubby lost his contract. That "string of rainy days" hasn't let up yet... (sigh). But man, it was sure fun while it lasted!

Before I moved my legal residence over here, I stuck as much of my after-tax income away as I could. I already had a modest lifestyle, and that hadn't changed. I put part of it in a Roth IRA, at the end of the Cheney-Bush recession, so that I paid all taxes due at the bottom of the recession and the Dow at 7800, and could reap the benefits of the inevitable rebound as tax-paid. How naïve of me. Now, the Germans want half my income, even though my job pays me in the USA, where it is taxed. They also want half of my Roth IRA, even though I already paid 100% of the taxes due on it when I made the conversion while I was still a full-time US resident. I had enough put away to supplement the fact that between the IRS and the Germans, I am expected to pay 73% in income taxes, as well as my tax-free (under US law) retirement fund the second I take anything out of it (I haven't yet--at no point are you required to take anything out of a Roth IRA, since the very nature of it means the taxes on it were paid at the time of conversion).

I always have my doubts.

Too many variables, and cashing in the money is problematic.

Who would buy Tesla for instance, at the current valuation? Nobody!

The current AU $600 in my wallet though, that is real money.

The good thing though, is that when Trump or Musk shuffle off the planet, there will be a fire sale and the real value of their hoardings will quickly become apparent.

should be used headed into the midterms. Or at least every D running for office needs to talk about
how income inequality is working against them.

It is unbelievable people are willing to trust him. Their entire investment is reliant on AI that most, including those who are in the AI business, think is overblown.

The economy did well during the pandemic bc we paid people.

Who got everything cut this year, because trump ss cola.
My 82 sis who makes too much, to qualify for medicaid for me to get paid, but not much.over. she still has co pay, type 2, sundowners, so, our schedule is messed up. lol
These jerks in charge, who admitted, they don't care? Come spend 1 24hrs in my shoes! The meds shots, suppository, cats, cleaning, yard, head to other client so I can still pay off credit card to move here to take care of my sister.
These millionaires, billionaires, now trillion, have never had to stay up and wipe someone's privates, insert suppository... read Every label on every can or bag she takes off the shelf, and explain why she can't have it, and the ride home. Then the next 2 days
Ugh, these ruch files can kiss my lily white hard working bruised arms, legs, spkut nails, fingers, And especially my Bunions!

Looking for better days
Have my sister cool with 100's coming
That's really what I cared about
Thanks for letting me vent
Sorry

But the numbers and maths... staggering.

Only 23 countries on earth have a higher GDP than Musk's personal fortune.

volumes traded at SpaceX.

You're conflating apples with oranges. That's regular activity. Any significant moves by Elmo would be on top of that and would be noticed very, very quickly.

Few things of any size are kept secret for long on Wall Street. People talk. They talk a lot.

raising any questions. Anyhow, you win, it's all just worthless paper and Elon is barely scraping by.

That very last part. Says a lot more than you think about things other than Elmo.

It's paper. Not money in his pocket. And if he tried to liquefy even a tiny portion, the market would take that as an "oh, shit!" and the stock would plummet. Thing is, not much in this frankenstein company actually makes much money other than maybe Starlink. The rest is hype. Pure, unadulterated bullshit. At least Tesla made cars people bought.

This company makes nothing but stupid claims. And after disappointing earnings cycle after disappointing earnings cycle, the stock will get savaged. May happen sooner than we think. AI data centers in orbit? That's so patently stupid and unworkable it boggles the mind almost as much as the idea of people living for any significant amount of time on Mars. It ain't happening, folks.

Instead, the money should be used to change the way our nations economic system runs to reduce the pay equity between the rich, the middle class, and the poor.

First of all, we need to change the tax codes to prevent the wealthy from being able to influence the government on the taxes they pay. They should have no more tax breaks than the average citizen has like individual/married, deduction, SALT deductions, child credit deduction, etc...

Second, we need to increase the taxes on those making over $500,000 raising it in graduated rates where the more you earn the more you pay in taxes. IMO, the highest tax rate should be 75% for federal taxes.

Third, CEOs are limited to 15 times the average pay of their employees. Any amount the CEO and top corporate managers make above the 15 times limit will be taxed at a higher rate.

Fourth, pass a law that saws corporations are not people but are an artificial entity and therefor do not have the same or more rights than a human being. Corporations have limited free speech rights but no rights to influence the federal, state, or local governments on the enactment of laws or taxes.

Undoubtedly, there are more things but the idea is by reforming how our economy and tax polices function from favoring the wealth to the average citizen will benefit everyone at every level. The monies collected from taxing the wealthy and corporations can be used to reinforce the social safety net that has been shredded since the Reagan administration.

Nope, nope, nope, nope, nope, nope, nope, nope, nope, nope, nope, nope, nope, nope, nope, nope!

And do-away-with Citizens United.
Yesterday, if possible.

During Covid. Every business just knew Americans had some extra cash sitting around and raised their prices. I’m definitely fine with placing a very large tax on that douche bag though.

One... $3000 wouldn't change a thing for 98% of the public... they'd buy a big screen tv a weekend in Vegas or clothing.

SOME would pay bills or tuition... very few.

And the old "Elon can give away XXX"

Elon Musk doesn't have 100B in the bank.

He probably doesn't have ONE billion in the bank.

Musk is probably the least liquid of the top billionaires... no yachts, no mega mansions and no Bugatti.

So when you say... "Musk can give away $XXX you're saying sell stock and if the amount of stock sold is large enough the stock price dips which affects the retirement accounts for regular folks... Even the CLPRS retirement fund invests in Musk led businesses...

Literally, CLPRS... the California State Retirement fund holds 5,000,000 shares of TSLA.

So who gets hurt?

People seem to be confusing 'net worth' and cash in the bank.

Perpetuating the welfare/caddy system

I live in a working class neighborhood and when my neighbors get their tax refunds, they do buy their kids shoes, sorry if kids having shoes w/o holes bothers you, but they also get their cars fixed so they can get to work w/o an hour bus ride first, they pay off their payday loans that they had to take or starve, and they spend their refund in a hundred other ways to survive and if a kid gets a new bike and that bothers you ( insert nasty, painful meme here)

You are as wrong about this as you were about Ukraine

Thanks for weighing in

Social experiments have proved that providing small guaranteed income is a good investment by local governments. Recipients raise themselves out of poverty by interrupting the destructive cycles of cost of living debt. The cost to government is offset by the reduced calls on its welfare system. Everyone wins.

There are studies, easy to find online, by NIH and Kennedy Research with various scenarios of cash disbursal showing benefits. The idea that poor people go buy big TVs isn't ever shown as a result.

Thus my claim that 98% will fritter it away.

He wants it all. And he's destroying more governments to get it. The man is a fucking monster who deserves nothing but prison time.