While you’re absolutely correct, even if Musk lost 99.7% percent of his wealth he would still be a billionaire (depending on whose net worth number you choose to use). I wouldn’t hold out seeing him in a bread line or starting a gofundme.
The real question is whether the collapse of his house of cards will lead to a 99.7% loss of wealth or >100% loss. He won’t be a billionaire anymore if it’s the latter.
I’d also be surprised if no one goes after him for trying to run away from debts. If we know anything, it’s that most laws only apply when they benefit the rich, and he’ll be making a lot of rich people angry if it turns out he did have extra money squirreled away.
He could declare bankruptcy and be a billionaire again tomorrow.
And I don’t say this out of any kind of admiration for him; just there’s still enough moneyed rubes out there that he could set up a new company making plumbuses and it would hit unicorn status by the end of the day.
While you’re absolutely correct, even if Musk lost 99.7% percent of his wealth he would still be a billionaire (depending on whose net worth number you choose to use). I wouldn’t hold out seeing him in a bread line or starting a gofundme.
huh. showerthought:
broke: gofundme woke: sell shares/stocks bespoke: have your company subsidized by the state
The real question is whether the collapse of his house of cards will lead to a 99.7% loss of wealth or >100% loss. He won’t be a billionaire anymore if it’s the latter.
Yeah, he probably will. I know I’d be surprised if he didn’t have money squirreled away somewhere.
I’d also be surprised if no one goes after him for trying to run away from debts. If we know anything, it’s that most laws only apply when they benefit the rich, and he’ll be making a lot of rich people angry if it turns out he did have extra money squirreled away.
He could declare bankruptcy and be a billionaire again tomorrow.
And I don’t say this out of any kind of admiration for him; just there’s still enough moneyed rubes out there that he could set up a new company making plumbuses and it would hit unicorn status by the end of the day.