The problem is that his payout, like the rest of his fortune, is in exceedingly overvalued Tesla stock. So using that to finance Twitter means selling, and every time he sells the price takes a hard dip because Tesla investors know they're standing on a soap bubble and they are extremely nervous about it bursting. Any sudden uptick in sales pressure is liable to cause a small avalanche of investors abandoning ship.
The process of buying Twitter alone cut his net worth by half because of how much it cratered the Tesla stock price.
Imagine being the wealthiest person on the planet and deciding to burn half of it to ensure that Nazis have an audience for their hot takes. Elon could have bought entire parks of grass to touch instead.
It wouldn't kill Tesla, per se. A company's stock price only really matters insofar as it helps them to carry debt. The company doesn't actually directly gain or lose money based on the stock price. What it affects, primarily, is the shareholders of the company.
all a show, elon bought twitter at the behest and with the investment of the saudis to kill it because they were getting too much heat for kashoggi. the fascist virtue signaling is all just a bonus for him, because he's a racist child.
Eh, I think that might be too smart for Musk. I don't doubt the Saudi's investment but that investment only came after the SEC forced him to take the "deal" (since he couldn't keep his mouth shut even when around SEC officials). In other words, I think the Saudi's saw their chance and took it.
I've heard a few tales of some CEO's (of very small companies) here in the Nordics actually being generous to their employees. Like it's most definitely a rarity, but I believe it is possible.
Like a CEO who values profits but values employees and paying their fair share more and isn't blinded by greed and addicted to money. A socialist, literally. A market socialist, but a socialist nonetheless.
Everyone could have their basic needs met, and we could still have rich people. Just not filthy rich, not "rich-to-the-point-no-one-else-has-anything" rich.
Or an asshole, Being X from Saga of Tanya the Evil Comes to mind. Hell both Being X and Musk are petulant children who damand praise, I fucking hate it.
I so very hope this idiot asshole winds up either jailed and/or has his wealth severely diminished and most of his businesses fail from being unable to repay loans / convicted of fraud.
He's the closest person on earth to becoming Horatio from the Endless series, yet he's also basically a badly written Bond villain.
I so very hope this idiot asshole winds up either jailed and/or has his wealth severely diminished and most of his businesses fail from being unable to repay loans / convicted of fraud.
Jail would be too easy for him. I want him to be on "Would you like fries with that?" for a living. Forced to pander to the people he looked down on in order to put food on the table. Bonus if he also has to work three minimum-wage jobs he hates for a total of sixty hours or more a week.
Reminds me of the recent millionaire guy who got lambasted on YT (i think his actual posts were on TikTok?).
Guys, I am going to lock up my money, my phone have no contacts and go to a new city and start from nothing and earn a million dollars in 30 or 90 days or something.
Whoah big surprise, a few weeks in he has to call the whole thing off for health reasons.
OMG he got robbed? Lost his paper work and thus couldn't get the right aid? The shelters are full? Sleeping outside in a city is extremely dangerous and unhealthy? Your hygiene suffers? No one talks to you or treats you like a human being?
In a just world we'd put the income tax levels back to around FDR levels and thus be able to actually fund social programs and eliminate a great deal of the wealthy's massive over representation in politics.
Instead it looks like we will be making a b-line toward theocratic corporatocracy.
