Elon Musk Gains More From SpaceX Surge Than Buffett Earned in Career

I posted this before realizing it was up another 14% after hours...

@seanjhathaway Its $125 per person. Could feed everyone top ramen for 6 months...

@typesfast Little know but highly relevant buffet quote

@typesfast i made no money today

@typesfast 侍は刀を比べず、己を磨く。

@typesfast @litcapital Yet his companies have only produced a cumulative $25B in earnings and if Elon tried converting this to cash, he would likely crash the stock on a few billion.

He didn’t make that much money. That’s ridiculous. The apparent value of his SpaceX shares increased. He doesn’t have that money. Even if he put in an order to sell all of his stock, it wouldn’t be worth as much as the ticker would suggest. The share price would nose dive due to supply and demand forces on the shares. And frankly, SpaceX isn’t worth nearly as much without Elon at the helm.

It’s just the truth brother, I don’t make the rules…

@mwwhite_ @typesfast There are mechanism by which the bank reclaims their capital, margin call for example. His asset (SpaceX in this example) also pays taxes. He has to pay his loan back with taxed money as well.

@Callmelizard007 @typesfast I’ll look into that tomorrow! I’m about half asleep tonight

@Callmelizard007 @typesfast doing what. I also only have construction skills currently

@Callmelizard007 @typesfast looking for a job

@mwwhite_ @typesfast Hey @grok

If a CEO of a major company takes a loan against his stock, does the lender have mechanisms by which to reclaim their loan as the companies market cap collapses?

@Callmelizard007 @typesfast I can try for sure but would learning with 0 skills

Elon Musk paid the largest known single-year individual tax bill in US history: ~$11B in 2021.

Exact lifetime total taxes paid is not public. Musk has stated he expects to pay well over $500B across his lifetime (including estate taxes).

High-side estimate for his lifetime personal spending (homes, travel, family support, security, etc., excluding all business investments): under $1B. His lifestyle remains modest relative to his wealth.

@typesfast All that proves is that algorithms designed by humans are more rational than retail investors!

@sv_techie

@typesfast @SylvesterPatr0n He deserves it he’s worked harder than anyone out there, and he does it with absolute class.

@typesfast @grok

@typesfast sure but how big is the sun

@typesfast the end of an era 🫡

@Callmelizard007 @typesfast That’s not construction my body can’t take it anymore