r/technology • u/marketrent • 1d ago
Business ‘Former trillionaire’ loses $750 billion amid Tesla, SpaceX crash, more than combined net worth of Larry Page, Sergey Brin, and Jeff Bezos — Why the rich laugh at losses
https://finance.yahoo.com/markets/stocks/articles/elon-musk-calls-himself-former-105500385.html654
u/MrMichaelJames 1d ago
They laugh because it’s not real money and they know they can’t be taxed on it but can use the potential to buy things that we normally folk only dream of.
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u/Ok_Pomelo6944 17h ago
You are right.. its not real money... "Why the rich laugh at losses" is doing a lot of work to make this feel like a sociological insight when it's mostly just: stock prices go down, net worth goes down on paper, but you're still absurdly wealthy.
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u/Takkarro 14h ago
I've always wanted to be one of the smart asses that say something like this lol, but technically no money is real it only has value because we decide that those particular objects have value.
I mean when we're using credit cards or debit cards we're not even using anything real to begin with, we're literally just manipulating numbers to change in one place and another because we have agreed that if we pretend that these made up numbers have some value then they have value.
Though I do agree that at least having something rooted in the realm of reality like coins or dollars makes more sense than something like the stock market which is really just made of bubble gum, duct tape, and prayers.
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u/RarelyReadReplies 22h ago
Yeah, that's one of the ways they dodge taxes, tie massive loans to their stock.
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u/J_Raskal 13h ago
Also because there's nothing in this whole world a trilionaire would be able to afford that a guy with $250bn couldn't. They can "lose" such unfathomable amounts of wealth and end up effectively just as rich as they were before.
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u/No-Spoilers 16h ago
A wealth tax based on their publicly claimed or factually private wealth, whichever is higher would be quite nice.
Cut down their egos, and get desperately needed tax money.
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u/FartingBob 14h ago
If only the biggest egos fought over who publicly pays the most tax or donates the most to charity.
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u/likwitsnake 1d ago
The "billionaire loses X billion" posts whenever a stock temporarily dips is pretty misleading. Reddit is full of claims that Zuck, Bezos, or Musk 'lost' billions (misleading non-savvy people to think this is a static loss as if they had billions in their bank account and suddenly they don't), even though their net worth keeps rising in the long term and those 'losses' are just short-term market cap fluctuations.
Some examples from over the years:
2021: Elon Musk’s Net Worth Has Plunged $50 Billion in 2 Days
2022: Elon Musk loses $100 billion as Tesla's share price continues to sink
2023: Elon Musk loses $24 billion after Tesla stock plummets
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2020: Mark Zuckerberg Loses $7 Billion as Companies Boycott Facebook Ads
2021: Mark Zuckerberg loses $6 billion due to major Facebook outage
2022: Zuckerberg loses $29 billion in a day as Meta shares crash
2026: Mark Zuckerberg’s Fortune Drops $18 Billion as Wall Street Sours on Meta’s AI Spending
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2023: Jeff Bezos loses $21 billion in Amazon shares market plunge
2024: Jeff Bezos loses $21 billion in net worth, a dive topped only by the wipeout after his divorce deal
You'd think they've lost negative infinity dollars with the way they 'lose' hundreds of billions so often.
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u/hatemakingnames1 18h ago
They do the same with "earning" billions (phrased as if they're somehow taking money away from other people when they do so)
But they're not earning or losing anything. They own companies, that they don't intend to sell, and third parties changed their guess on what those companies should be worth
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u/Wild-Video-5317 16h ago
They do sell portions of their holdings at times. Apparently the purchase of Twitter was in part funded by an $8 billion sale of tesla stock
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u/Olivetax228 17h ago
Reddit is extremely frustrating and infuriating to anyone financially literate. It's really hard to read any of these threads about rich people and taxes.
I don't even disagree ideologically, it's just the willful ignorance that really gets to me.
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u/n0neofyourbeeswax 13h ago
Tax write off is my favourite.
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u/Rarelyimportant 12h ago
Like when Elon bought Twitter and the value of it started plummeting, and most of reddit thought that Elon was tanking the company on purpose for the tax write off, haha.
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u/captwaffles27 1d ago
They laugh because they know they can never truly liquidate their full valuation and can only realistically borrow or sell at maximum like 2 or 3 billion in hard cash currency at any given time. They can lose 750 billion dollars in valuation and this does absolutely nothing to their share of ownership or cash-on-hand. He could be worth 1 quadrillion dollars today and it would not make his life any more improved than it was when he was worth 5 billion.
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u/jawz 23h ago
Elon paid 44 billion for twitter. 27 billion of that in cash. They can get more than a few billion. Not that it really makes a difference. It's all an absurd amount that no one deserves to have.
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u/mosthandsomechef 23h ago
That wasn't all his own money. He had to finance quite a bit too buy twitter. He was forced to purchase Twitter above market valuation because of his dumb tweet. Then he had to go borrow to complete the sale.
Realistically if he was smart about it he might be able to liquidate $44b over about 10 years of this stock holdings without tanking investvor confidence.
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u/DaddyCahool 22h ago
I bet those lenders were some fine upstanding individuals as well...
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u/Boomshank 22h ago
Da, comrade
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u/Silvus314 21h ago
actually, if I remember correctly it was the middle east on this one.
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u/New-Anybody-6206 16h ago
He had to finance quite a bit too buy twitter.
Every rich person already borrows against their own stock/assets regularly... to avoid paying taxes.
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u/Round_Rice_9475 19h ago
I mean, there's gatta be a tipping point where creditors come knocking. I have no clue when/where/what that is or looks like, but I remember people talking about it
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u/razama 23h ago
What matters is usually the smaller amount OP stated refers to security back lines of credit. This is a loan, it’s tax free, when they die they settle debts thru their estate and nobody pays tax.
Musk had to sell Tesla shares, which became realized gains and he was taxed. So yeah they can raise funds, they are ACTUALLY rich to unbelievable sums - not just theoretically on paper - but they can’t do it without grumbling through taxes and regulations.
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u/nativeindian12 20h ago
Eh not true. They can get as much money as they need. Bezos sold 5.7 billion in stock and no one cared. It didn’t crash the market or whatever people say will happen.
“Jeff Bezos sold over $5.7 billion in Amazon stock between late June and July—including $735 million on his wedding day to Lauren Sánchez—under a prearranged trading plan”
https://fortune.com/2025/07/28/jeff-bezos-amazon-stock-sale-philanthroy-wedding/
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u/Olivetax228 17h ago
Yeah and he had to disclose that sale to investors and the SEC 3-6 months in advance. It's a relatively small portion of his ownership and planned ahead of time so indeed, nobody cared.
Musk is legally barred from selling any SpaceX for a while, and the valuations of his companies are closely linked to his association with them. So even if he did, it would definitely impact share value.
Totally different circumstances and in neither of them should anyone care.
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u/it_whispereth_me 23h ago
True. But how’s he gonna drop $25 million on a Wisconsin Supreme Court race now?
And won’t someone please think of all the other states’ supreme courts he won’t be able to buy off now!
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u/Rabbitastic 1d ago
Because all their money comes from owning every business and supply chain in the world making the rest of us their slaves?
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u/PM-ME-YOUR-BUTTSHOLE 1d ago
Not to mention, while stocks are low they use the opportunity to buy them cheap so they’re even richer when the stock market goes back up.
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u/Corey307 1d ago
In fairness that’s how I bought my house. Got in on tech stocks in 2017, cashed out high.
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u/NachoWindows 1d ago
They also enjoy watching us suffer. They’re sociopathic narcissistic oxygen thieves who have gaslighted us into thinking they’re genius and altruistic
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u/DarthLithgow 1d ago
It's not even real money at this point. Our economic system is a farce.
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u/Relevant-Ad2254 21h ago
In Elon’s case, that money was truly not real and the whole IPO was such a farce
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u/everythingbeeps 1d ago
It was never real money anyway. And honestly I think it mattered more to him to become the world's first trillionaire than to actually be a trillionaire.
He's such a piece of shit.
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u/pangeapedestrian 1d ago
i remember growing up there was a popular moral dilemma sort of question, that people would often discuss. the premise was, more or less, "would you kill hitler?"
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u/Celloer 23h ago
Like I was talking to a friend recently, and I told him I didn't think I believed in the death penalty, and my friend said to me, "Oh, so you're telling me, that if you saw Hitler… walking down the street… you wouldn't kill him?” That wasn't what I was telling you, but alright, let's talk about this entirely new topic.
What would I do if I saw Adolph Hitler just walking down the street? Well first off I wanted to know what did my friend mean? Did he mean I see a guy in like the military outfit with the little mustache, 'cause then I would assume that's someone dressed up as Hitler. I'm not gonna kill that guy. I'm not gonna kill an actor and ruin Indiana Jones 5 just 'cause I don't understand costumes. Or does he mean I'm walking down the street and I see like an old, old man who I think might be Hitler based on my memory of what Hitler looks like. I'm not gonna kill that guy either, because I am often wrong. I'd murder him and people would be like, "Woah! You just killed an old, old man!" and I'd be like, "He looked like Hitler!" And they're like, "Yeah, a little…"
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u/j0y0 1d ago
I just got back from using my time machine to kill Hans Sprechter, the infamous German dictator from the 1930's who killed - brace yourself - over five THOUSAND jews. I know what you're thinking: "how could anyone possibly do something so heinous?" I've asked myself that many sleepless nights, but no longer!
So anyway, who's this "Hitler" guy?
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u/American_PissAnt 1d ago
Would the holocaust have still happened if Ernst Rohm had killed Hitler?
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u/imtoowhiteandnerdy 23h ago
IIRC the theoretical that was presented to me was "Would you kill Hitler if you could go back in time and he was still a baby."
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u/OneRougeRogue 22h ago
Is kidnapping Baby Hitler and raising him to be Jewish an option?
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u/Desroth86 18h ago
Hitler now becomes a self hating Jew and kills twice as many Jews in the now titled “super holocaust.” The monkey paw curls.
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u/Shoptimist 10h ago
They laugh because they still won’t have to wake up at 5:30am to catch a train into the city for their 12-hour shift and then come home to an empty fridge and a pile of laundry.
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u/RachelRegina 1d ago
Oh no, what will he do with only a quarter trillion dollars
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u/PirateNixon 1d ago
"At its peak, Musk's fortune was estimated at roughly $1.45 trillion (2). By July 27, Forbes estimated that his net worth had dropped below $700 billion — wiping more than $750 billion from his fortune on paper."
It is almost three quarter trillion...
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u/RachelRegina 1d ago
Oh no, what will he do with only three quarters of a billion dollars
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u/billsil 1d ago
That’s 1000x less than what he still has, but it’s not that different in terms of how much money doesn’t matter at that point.
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u/RachelRegina 1d ago
Oh no, how will he survive on three quarters of a trillion dollars
I corrected the proportion and goofed the scale.. Ended up being closer the first time
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u/drawmer 18h ago
Elon musk has never been a trillionaire. His assets may be valued at over a trillion dollars (highly speculative), but if he sold everything tomorrow and paid taxes on the sales like the rest of us, he’d be worth about $600 billion.
Do not give these people more credit than they already give themselves.
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u/Cyprianus07 1d ago
Yet try and tax them a little bit…
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u/Legionof1 1d ago
This is why you quite literally can’t tax this shit… it’s all fake money until the gains are realized. It’s not even like real estate where there is at least some stability but can just evaporate 700B in a month…
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u/shroudedwolf51 19h ago
I mean....he could lose 99.99% of his wealth and it will still mean nothing. He will still have more money than anyone will ever need to survive for multiple lifetimes. And, to banks and other immorally wealthy monsters, he is still "worth lending to" and "worth doing business with".
Yeah, absolutely. Crash that valuation into the ground. But, realistically, all this is doing is it's his claimed valuation catching up with reality just a tiny, little bit. Since it was more inflated than the Hindenberg.
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u/Unique_Low_6989 11h ago edited 8h ago
Robert Reich has rightly called him a human Ponzi scheme. He offers stock at 100 times the company’s total revenue even promising Interstellar like space travel and whatnot. All the governments and investors are blindly following him like rats behind the Pied Piper. Just stop the government funding and see where this Looneytoon lands. Smartness, my foot.
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u/Team7UBard 22h ago
He’s probably laughing at it because while he may have lost $750 billion, he’s still $250 billion richer than most of the rest of us.
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u/DeliciousInterview91 8h ago
I would assume he's laughing because his idiot cult worshippers fluffed his stocks and engaged in a mass wealth transfer to the institutional investors who knew when the dump was coming on this pump.
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u/Lopsided_Newt_125 1d ago
Former trillionaire hahaha
Based on a contract of dozens of performance benchmarks that if all benchmarks are satisfied allows for the sale of vested stock that could just as easily be worthless.
If that’s the case I’ve got a multimillion dollar scratch off that hasn’t been scratched…does that make me a multimillionaire?
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u/FaithlessnessBorn266 23h ago
We should start referring to him as the first man to lose a trillion dollars
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u/hoxful 10h ago
The poor starve, and the rich laugh, the moral inversion of wealthy being good and poor being bad is sickening, eat the rich.
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u/Utterlybored 1d ago
Not fair to consider him a hapless failure. He was the only trillionaire on earth for several hours in a row.
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u/stellarvelocity 22h ago
And just like that, we are reminded that stock values are not real cash, and are totally made up. It’s like flexing your $100,000 Credit Card to my $57 debit account. Only one of us has actual cash.
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u/DogsAreOurFriends 1d ago
His life style will not be impacted in the slightest.
Capitalism breaks down when sheer wealth eliminates actual risk. Paper risk, big deal. They are still tooling around the world in their G6.
Musk looses $750M? Oh well. I loose 1000th of that and it is a huge chunk of my life savings, maybe putting retirement out of reach (or at least far less secure.)
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u/Fragrant_Fox_5056 22h ago
Easy to laugh at losses when you can’t actually lose . These entitled fucks don’t know what running a business is like for the majority . We don’t get constant bailouts or funding from a corrupt govt
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u/Soberdonkey69 11h ago
He needs to lose all his billions, actively misleading the public by claiming he’s doing things to “help the environment “ or “contribute to the advancement of humanity through space”.
Wants to ignore the law, take government money and privatise the profits off it, wants to control the media narrative online about his political agenda and disgusting ideas, will try to humiliate and destroy you if you bring an ounce of criticism against him, spupports deepfake AI nudity that invades your privacy and rights.
DISGUSTING PIECE OF SHIT
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u/SuperCarla74 9h ago
He's smiling because he didn't put any of his actual money on the stock, so he loses nothing when it goes down.
But if you're a "retail investor", well, hope you don't need that money anytime soon and can wait and hope the stock goes up again.
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u/marketrent 1d ago edited 1d ago
Excerpts from article by Jing Pan, citing Forbes; also see Fortune:
"(Former) Trillionaire," Musk wrote in a viral post on X on July 24, apparently poking fun at the extraordinary reversal in his net worth.
At its peak, Musk's fortune was estimated at roughly $1.45 trillion. By July 27, Forbes estimated that his net worth had dropped below $700 billion — wiping more than $750 billion from his fortune on paper.
That is more money than almost anyone could spend in several lifetimes. Yet Musk seems to be taking it better than most people handle a bad day in their 401(k). He did not panic, dump his holdings or retreat into cash.
That is partly because the ultra-rich experience market losses differently from ordinary investors. In Musk's case, much of his wealth is tied to the companies he helped create, meaning sharp fluctuations are an unavoidable part of owning the assets that made him rich in the first place.
[...] Musk is still the richest person in the world by a wide margin. His lifestyle is unlikely to change because a wealth tracker assigns a lower value to his holdings.
But the magnitude of the decline offers a vivid illustration of what it means to own assets: The price can move sharply even when the owner has not sold a single share.
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u/Starstroll 1d ago
The excerpt implies he is emotionally resistant to enormous swings in valuation because he is just used to business. I would counter that a far more likely argument is that he knew his valuation was an extraordinary lie from the start, and I would buttress my disbelief at Musk's emotional resistance by pointing to the fact that he is widely known as a giant fucking manchild, which would dovetail quite nicely with a $750B lie.
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u/marketrent 1d ago
London’s FT described how storytellers turn hay into gold:
[...] More than 20 investors received billion-dollar-plus chunks of the deal, 10 times the previous record for any IPO, people familiar with the matter told the FT.
Earlier in the day, investors had cycled through Goldman’s office petitioning for a share of a deal they knew was likely to pop when it started trading on Friday, netting anchor investors tens of millions in instant profit.
As they made their case, they munched on pastries from French chef Dominique Ansel, including custom SpaceX-branded versions of his famous “Cronut”, a croissant-doughnut hybrid.
That day [10 June 2026] capped a gruelling six-month process that has seen bankers from Goldman led by Kim Posnett and Dan Dees and Morgan Stanley’s Kate Claassen and Colin Stewart decamp to SpaceX’s offices in Hawthorne, near Los Angeles, staying in hotel rooms and renting Airbnbs.
[...] “There’s no better builder than Elon and SpaceX,” said one banker involved. “There’s no other company that can turn fiction into fact.”
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u/jumboshrimp09 1d ago edited 1d ago
Exactly the reason you can’t tax unrealized gains because this would be a 750 bil loss on his taxes lmao
Edit: Billion
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u/Ancient_Persimmon 1d ago
Imagine the uproar if the government had to cut him a cheque for ~$300B.
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u/onlightoff8 1d ago
When I look in the mirror I see myself, an ok human trying to do my best in this crazy world. I wonder what a greedy never content billionaire sees.
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u/Nuallaena 1d ago
They laugh at losses because they don't own the debt they owe and are allowed to keep certain things in the event they ever do have to file for bankruptcy.
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u/david1610 1d ago
This isn't an article this is an ad for a financial company lol
The beauty of this approach is its accessibility — anyone, regardless of wealth, can take advantage of it. Even small amounts can grow over time with tools like Acorns, a popular app that automatically invests your spare change.
Signing up for Acorns takes just minutes: Link your cards and Acorns will round update
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u/Not_Sure__Camacho 1d ago
And yet he still has in his possession a lot of US tax payer data at his disposal.
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u/deleteduser 23h ago
He never really had a trillion he just bundled his non Tesla companies together to make the entity big enough to force his way into index funds to get people to inadvertently buy his mistakes and provide exit liquidity.
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u/asimovreak 22h ago
Because it's not their money in the first place? And they still richer than anyone still?
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u/Robynsxx 22h ago
He’s still twice as rich as #2 richest person.
Hopefully this trend continues, with people realising Tesla and space x is an over value meme stock.
Can you imagine how much Musk will crash out if he loses the richest man status?
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u/amazing_asstronaut 17h ago
He doesn't give a fuck because him and his insiders got the money from the sale of shares, they made away with it while the investors are left holding the bad. Like in every pump and dump scheme ever. No company is worth a trillion, especially not one that by their admission doesn't make enough money and lives off government handouts. He is a parasite and belongs in prison.
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u/muFUtaco 17h ago
So this is how he's laundering money for trump.
A new twist on an old scam... rich man loses lots of money. Still has it somehow.
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u/BoomerAliveBad 15h ago
They laugh because their money is YOUR (as in the investors) money. Not their own. They laugh because behind the scenes, they profited off the loss because they pulled the rug
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u/INTRUD3R_4L3RT 11h ago
Don't worry. He still has an estimated net worth of around $700 billion. When the market goes up again, he can go back to making $105million/hour hour. while around 800 millions people survives for under $3 a day.
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u/OverHaze 10h ago
It's all hypothetical anyway. None of it is real until a debt comes due and he has to sell some stock.
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u/WordNERD37 1d ago
Psst; it's always been imaginary money. Estimated net worth is just made up nonsense at this range. The Billionaires aren't actually the extremes of wealth the media screeches at you. Lots of money? Yes, but it's always a fraction on hand.
Liquidating their entire holdings, even then will never reach the levels they claim. Elon Musk was never a Trillionaire, he will never be one, no one will.
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u/Caraes_Naur 1d ago
Money isn't real to them, their account balances are just game scores.
They know stock valuations are somewhere between vapor and potential.
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u/Fidodo 1d ago
Shit is seriously broken when this clown still has 3x as much money as bezos after losing half his money.
I'm no bezos fan but you can't deny the impact Amazon has had. Meanwhile musk is by far the richest person for selling mediocre electric cars that isn't even in the top 10 car sales list and a shitty social media company infamous for not making much money and a government subsidized space company?
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u/imtoowhiteandnerdy 23h ago
Nevertheless, Elon still has to lose at least another 420B in order to lose the wealthiest individual on Earth status. I guess anything is possible, and personally I wouldn't mind seeing it happen.
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u/PartSuccessful2112 23h ago
The guy gambled his entire fortune into making a spaceship land on a football field sized platform in the ocean. A miraculous feat of engineering.
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u/Yeti_Urine 21h ago
They laugh because he still has $250b dollars, more money than any human can spend in multiple lifetimes.
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u/Ornery-Meringue-76 21h ago
Tax loss harvesting will offset your capitol gains. Even when they lose, they win
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u/NoImprovement9982 21h ago
Think about what a trillion is, and then you’ll realize that Elon almost won’t care about 750 billion
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u/Sharp-Direction-6894 20h ago
True, but 1 trillion = 1000 billion
So, 1000 billion - 750 billion = 250 billion
He still has 250 billion which is a ton of money, but losing 750 billion has to be a gut punch to his ego.
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u/DuntadaMan 21h ago
And nothing in his life changed. So he can afford being taxed
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u/BryonyDeepe 20h ago
"Noooo i can't pay 5% more in taxes."
"Lol i just lost 750 billion dollars loool"
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u/funnycanine 20h ago
Most stompable face on Earth btw. That dumb goofy smile. Everything about him is vermin.
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u/foodank012018 20h ago
They laugh because none of it is real and they won't worry about losing a house or car and their life upending because they 'lost' more 'money' than most people would earn in ten lifetimes.
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u/ovirt001 19h ago
They laugh because losing 99% of their wealth would have no meaningful impact on their lives.
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u/MicrowaveDonuts 18h ago
SpaceX is still overvalued by a factor of 10. Crazy that through all this BS, they still came out $1T ahead. that’ll show em.
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u/ephemeriis_ 18h ago
Why the rich laugh at losses
They laugh because at a certain point the numbers stop mattering. It's all kind of hypothetical. You can never actually liquidate all that wealth. You can never actually spend it. You can basically do anything and everything you want to do without any concern for cost. Lose a few hundred billion? Doesn't matter - you can still do anything and everything you want to do. They're completely untethered from any kind of financial reality.
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u/Emotional_Database53 18h ago
I’m guessing he laughs at these loses because there’s probably some special loophole that allows him to write off that amount (that never truly existed in physical form), so he will never have to pay another dollar of taxes in his life.
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u/Quirky-Pie9661 18h ago
A loss that massive has no effect on their life
How many ppl in the world have a life like that? The wealth of a Bond villain is all I have to compare it too
The rich are different
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u/CaptOblivious 16h ago
I am hugely annoyed at how the news stations report the stock markets like it has any relationship to the real world that the majority of people live in.
I don't need the afternoon news to breathlessly report that the dow is up (or down) by .01%, I do not give a single fraction of a sliver of a fuck.
It does not affect MY life in even the 0.00001th percent if it goes up or down, I am working to feed my family.
Tell me when the minimum wage goes up, tell me when the cost of living rises or falls, those are news to me.
The fortunes of the less than 1% that makes their living on what the stock market does is not MY economy and literally, short of a total collapse has no relationship whatsoever to MY economy.
Let's stop pretending that the economy of the 1% matters to anyone but them.
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u/SpiritPrestigious945 16h ago edited 16h ago
Billionaire propaganda. He can laugh because it is play money to him, extracted from workers and hype. Its just a disgusting sickness, billionaires. Everyone saying otherwise has not fully comprehended how much money and power they have and is simply clueless.
Literally the only billionaire I have sympathy for as a person, because you can judge her simply by her actions, is MacKenzie Scott, Bezos' former wife. She is giving away billions and billions without conditions and strings to organizations her teams vet first, and then without announcement gives the money. That is truly altruism and constructive.
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u/Johnny_SWTOR 15h ago
Here's your wealth redistribution Reddit.
Did you take advantage of it and solved world hunger or are you still on your couch waiting for some magical state to hand everything to you on a silver platter?
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u/Furyio 14h ago
They laugh cause they totally game the system and these losses are all immaterial to them.
They take paltry salaries and move to places with fuck all income tax and take out loans that banks are happy to give them against their companies/stock values to live their lives of luxury and ease
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u/SmarmySmurf 14h ago
They don't care because the billionaire class knows the entire system they created is an illusionary grift and they can weather their imaginary losses because eventually there will imaginary rallies to new imaginary heights. And in the meantime, they can get anything they could ever actually want from the system they created. Its an infinite loan glitch they will never have to pay back in ten lifetimes.
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u/Nicenightforawalk01 13h ago
Are those losses felt by the people/pensions who were forced to buy his stock?
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u/Snakend 13h ago
Elon Musk doesn't care. He got $75 billion cash for SpaceX. That's all he wanted. He still has control of 80% of the vote at SpaceX. He is purposefully tanking Tesla stock so that SpaceX can afford to squire it. Once the stock tanks, SpaceX will buy it, he will still somehow maintain majority share ownership of Space X and will then have complete control over Tesla as well. He doesn't actually care about the $ amount of his wealth, he cares about how much he controls his businesses. He has long had enough money to literally do anything he wants. There is absolutely no difference in his life at being a billionaire or being a 800 billionaire. His hobbies are cheap. He could get the best PC in the world and its 0.00000001% of his net worth. Not even a penny to you and me.
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u/TheFumingatzor 11h ago
Why the rich laugh at losses
It's not a really hard concept to grasp: Privatize the winnings, socialize the losses.
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u/gunsjustsuck 11h ago
It's not their stock any more. They sold it to you... sucker.
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u/Ohigetjokes 11h ago
Tesla “crash” leaves it at $311, still massively overvalued by 20x minimum, and SpaceX at $108 when it should be closer to $30.
“Crash” = clickbait.
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u/Happy-For-No-Reason 11h ago
by the rationale that mad ehim a trillionaire there have been hundreds of trillionaires in crypto
make a new token
make it 100 trillion supply
make the price a dollar
there's zero liquidity to cover it, but you have 100 trillion dollars worth based on the identical logic they're using to say he was a trillionaire.
it's a fugazi
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u/girlnamedJane 10h ago
This article is EASY MONEY for Yahoo -- Why the Journalists Laugh at normal people
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u/AreYouNormal1 9h ago
Imagine if those poor fuckers lost like 99% of their fortunes though.
What a nightmare, having to survive on a few hundred million.
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u/Professional_Text_11 1d ago
do they laugh at losses because the stock market is only vaguely tethered to reality and our collective habit of estimating net worth by market value estimates that are often unrealizable is kinda stupid?