381
The collective wealth of the 4 richest U.S. billionaires surpasses $1 trillion dollars for the first time ever.
(lemmy.world)
362 + 240 + 215 + 202 = 1019 billion
this post was submitted on 07 Dec 2024
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Delay, Deny, Depose.
It still make no sense to me that musks companies are so highly valued.
The stock market is vibes based
This is the reason I can't invest. Price to earnings doesn't matter. debt ratio does not matter. I just can't invest on the concept that you got to becausre brrrrr
I can't invest because I don't have any money ^^
I guess I could work more, but where would be the fun in that?
when working there is nothing more than I wanted but to not be working and now that im unemployed I am desperate to put the metal collar back on.
Sad thing is that they probably went up since the election.
Its fake
What is?
The value of Elon's companies is fake. Its whatever the vibe machine says it is.
Tesla has a market capitalization of 1.22 TRILLION dollars. I don't like the guy either but you need to have a basic level of understanding of economics to offer critique, sorry.
The market cap exists because Musk has lobbied the government to not allow Chinese cars that are way cheaper and have better Quality Control. So most people have to purchase one of his electric lock only, semi-trucks-are-the-sky death boxes. They will always have problems because they are always parsing raw video data since they use such cheap cameras. You can believe what you want, but Musk sits on a cardboard throne that he did not even earn by legitimate means. Tesla is not a superior product, its one of the only products allowed in town.
Can you use your basic level understanding of economics to explain why Tesla has a market capitalization of more than the next dozen or so automotive companies COMBINED?: https://companiesmarketcap.com/automakers/largest-automakers-by-market-cap/
Eat the rich.
I'll say "OM!" then you all chant back "NOM! NOM! NOM!" in unison.
OM!
Nom nom nom!
Nom nom nom!
Greed kills, kill greed!
For context, that is about 1% of the GDP of the world.
Well if you want to have fun with that. Take Musks 362B listed here. Assume he does nothing but leave it in the market at the 10yr average growth of 11% interest. I saw the other day... He alone will have around 14T when he dies. Assuming he doesn't live into his 90s. (35 years was what I picked, assuming death at 88)
Edit: Throw in to help understand how much money that is. That's enough money to build a $250,000 house for everyone in America every 20 years (assuming average household is 3 people). Without touching the initial investment, and factoring in 3% annual inflation. Anyone buying a $400k house today that thinks it couldn't be built for $250k using mass purchasing and building teams I would assume to be wrong.
That would free up every rent/morgage payment in America to be spent elsewhere, allowing for economic growth in other areas.
One down
Is there an inflation adjusted version of this? I'm wondering if anyone even in the gilded age got this wealthy.
There is, and they came close. I only remember Rockefeller net worth being something over $250 billion based on economic output.
Actually, looking it up, it could be as high as $400 billion. Ah, the 1800s were pretty worse than today's standards...
At least it looks like people die and fortunes move on. Apparently his descendants are worth only $10 billion collectively now, somehow.
Look at Larry Ellison keeping a low profile. Smart.
We're gonna see our first trillionaire within a decade aren't we.