Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

LiberalArkie

(15,715 posts)
Mon Oct 25, 2021, 07:00 PM Oct 2021

ELON MUSK IS NOW WORTH OVER A QUARTER TRILLION DOLLARS

As if being a billionaire wasn’t enough, Tesla CEO Elon Musk is gunning to seize the title of world’s first-ever trillionaire.

The CEO’s net worth has now officially grown past a quarter trillion dollars, Bloomberg reports, leaving the second richest person in the world, Amazon founder Jeff Bezos, in the dust.

It’s an obscene amount of wealth for a single human being — and it may mean that it’s only a matter of time before Musk’s net worth hits 13 digits.

Snip

https://futurism.com/the-byte/elon-musk-quarter-trillion-dollars

74 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
ELON MUSK IS NOW WORTH OVER A QUARTER TRILLION DOLLARS (Original Post) LiberalArkie Oct 2021 OP
I'm sure he has the biggest dick on the planet too. Lunabell Oct 2021 #1
??? Why are you curious? Nt USALiberal Oct 2021 #70
You feeling inadequate? Lunabell Oct 2021 #71
AMERICA!! SoCalDavidS Oct 2021 #2
Imagine all the good he can do with that much money... secondwind Oct 2021 #3
Me is/has moving to Texas. No personal income taxes as far as I remember LiberalArkie Oct 2021 #13
I'd rather him help Americans Polybius Oct 2021 #72
Wealth tax! Walleye Oct 2021 #4
President Biden disagrees with you... brooklynite Oct 2021 #33
I haven't heard his position on this. But it does seem to be a tricky constitutional question Walleye Oct 2021 #36
And I'm sure he's no happier than those paupers with just a few hundred million to their name Ron Obvious Oct 2021 #5
He owns stock in the company he started Johnny2X2X Oct 2021 #6
Every month I get a "warning" from my financial adviser... brooklynite Oct 2021 #37
Elon Musk's Net Worth Hits $281 Billion -- What's Propelling His Wealth Rapidly Upward Celerity Oct 2021 #7
He's still got 700 and some billion to go, which is quite a ways. brush Oct 2021 #19
If Tesla's market cap triples over the next 5 years or so (a big if, but entirely possible, Apple Celerity Oct 2021 #39
More power to him. I don't resent billionaires whose creativity... brush Oct 2021 #74
Eat the rich nt Tree-Hugger Oct 2021 #8
Secrets in the sauce questionseverything Oct 2021 #10
Hertz signing a contract for $4 billion today with Tesla added some to the cushion. nt TexasTowelie Oct 2021 #9
Hertz was in bankruptcy until March of this year madville Oct 2021 #23
A real life Hugo Drax. BannonsLiver Oct 2021 #11
My brother who Casady1 Oct 2021 #12
Do you mean by unveiling their own electric cars? If so then I agree. OrlandoDem2 Oct 2021 #14
These are big Casady1 Oct 2021 #28
Detroit is having to play catch-up Shermann Oct 2021 #16
The big manufacturers have the manufacturing knowhow Casady1 Oct 2021 #26
Tesla has invested heavily in the Giga Press employing German manufacturing technology Shermann Oct 2021 #41
VW and Toyota Casady1 Oct 2021 #52
I hope VW is successful and keeps the pressure on Tesla Shermann Oct 2021 #55
I've been buying VW for the past 20 years. brooklynite Oct 2021 #68
The table below lists all companies which have, at any point, had a market capitalization in excess Celerity Oct 2021 #15
EV's and mass transit and solar panels, Oh My! Shermann Oct 2021 #17
anti-union, his move to Texas after he defied California's Covid rules, plus he is nowhere near Celerity Oct 2021 #20
I'm losing respect for anybody who registers as an independent Walleye Oct 2021 #40
they outnumber either party, unfortunately Celerity Oct 2021 #45
I know. Maybe we need to do some party building Walleye Oct 2021 #47
The Democratic Party has been trying to do this for decades, but there are so many moving parts. Celerity Oct 2021 #49
Even more difficult now that propaganda is mainstream Walleye Oct 2021 #50
+1 Celerity Oct 2021 #51
Got into a heated discussion with a young man I know he said he hated all politicians Walleye Oct 2021 #53
And saving NASA a lot of money with their ability to stick a landing and reuse the rockets. LiberalArkie Oct 2021 #21
Now that really is impressive Walleye Oct 2021 #42
Yes they did. LunaSea Oct 2021 #56
I don't care cause I still think Corgigal Oct 2021 #18
And what good is doing with it? And where will it go when he is gone? nt joetheman Oct 2021 #22
He won't be able to take a dime more with him when he dies than Tanuki Oct 2021 #24
When is it enough?!?!?!?!?!?!? Coventina Oct 2021 #25
Are you saying he WANTS to make more money? brooklynite Oct 2021 #31
Well, if he didn't want all that money, he could be PAYING HIS FAIR SHARE OF TAXES! Coventina Oct 2021 #34
He is paying his LEGAL share... brooklynite Oct 2021 #38
which why there is so much dislike for Manchin and Sinema, as they are blocking this: Celerity Oct 2021 #48
His LEGAL share is not his FAIR share. Coventina Oct 2021 #57
How do you propose he pay more taxes than are owed? brooklynite Oct 2021 #65
He could take a look at what Biden's unfunded agenda items are and start there. n/t Coventina Oct 2021 #67
Why pay more if you don't have to? Polybius Oct 2021 #73
He is paying his taxes. If you need to fix the tax problem that's not his problem! Nt USALiberal Oct 2021 #46
Poor thing. I guess he can't figure out a way to use his money for good. n/t Coventina Oct 2021 #58
Hiring 100,000 people is not for good??? USALiberal Oct 2021 #59
Not necessarily. I'm sure Walmart employs just as many. n/t Coventina Oct 2021 #61
He should give away the vast majority of his wealth. Elessar Zappa Oct 2021 #43
Maybe he likes his job! Nt USALiberal Oct 2021 #60
I'm sure he could continue to do it without hoarding more money than many nations. n/t Coventina Oct 2021 #63
Then you need to fix the tax laws! Nt USALiberal Oct 2021 #64
I'm working on it, along with millions of other Americans. Coventina Oct 2021 #69
This message was self-deleted by its author brooklynite Oct 2021 #27
Perhaps people could stop buying his products. That'll teach him..... brooklynite Oct 2021 #29
To my knowledge, I have never bought or used any of his products. nt Coventina Oct 2021 #30
Last time I checked, there were 7 Billion other people... brooklynite Oct 2021 #32
You seemed to indicate that people could stop giving him money. Coventina Oct 2021 #35
Well, you pay taxes and NASA pays him a lot, so you do!!! Nt USALiberal Oct 2021 #62
True definition of welfare queen, then. n/t Coventina Oct 2021 #66
He's probably done more to fight global warming fescuerescue Oct 2021 #44
Him or Al Gore maybe Shermann Oct 2021 #54

SoCalDavidS

(9,998 posts)
2. AMERICA!!
Mon Oct 25, 2021, 07:02 PM
Oct 2021

I bet all the minimum wage earning, paycheck to paycheck, Faux News viewers, really look up to him, as someone they can aspire to be.

secondwind

(16,903 posts)
3. Imagine all the good he can do with that much money...
Mon Oct 25, 2021, 07:03 PM
Oct 2021

children in northern Colombia are dying of thirst and hunger.

 

Ron Obvious

(6,261 posts)
5. And I'm sure he's no happier than those paupers with just a few hundred million to their name
Mon Oct 25, 2021, 07:03 PM
Oct 2021

It's funny that way.

Johnny2X2X

(19,049 posts)
6. He owns stock in the company he started
Mon Oct 25, 2021, 07:06 PM
Oct 2021

When the company is worth more his wealth increases. What’s he supposed to do? Run Tesla poorly?

brooklynite

(94,503 posts)
37. Every month I get a "warning" from my financial adviser...
Mon Oct 25, 2021, 08:19 PM
Oct 2021

...that I'm massively overweighted in a single stock, which might be an unstable investment.

I bought Apple stock about 25 years ago at an effective price of 25c a share. Should I sell it so I don't have as much?

brush

(53,769 posts)
19. He's still got 700 and some billion to go, which is quite a ways.
Mon Oct 25, 2021, 07:44 PM
Oct 2021

And it's no like he's got that stashed in cash somewhere.

Celerity

(43,330 posts)
39. If Tesla's market cap triples over the next 5 years or so (a big if, but entirely possible, Apple
Mon Oct 25, 2021, 08:20 PM
Oct 2021

has already went to 2.5 times Telsa's current market cap a couple months back) Musk will be sitting at or over $800 billion, and Tesla is hardly his sole source of wealth. He is constantly expanding both horizontally and vertically. The space arena is going to just EXPLODE from now until he dies, as will the eclectic vehicle/battery market.

brush

(53,769 posts)
74. More power to him. I don't resent billionaires whose creativity...
Tue Oct 26, 2021, 12:57 AM
Oct 2021

brings them wealth. It's the winger a-holes who inherit wealth and act like they did something who irk me no end...see DJT.

madville

(7,408 posts)
23. Hertz was in bankruptcy until March of this year
Mon Oct 25, 2021, 07:50 PM
Oct 2021

Guess their new investors are bringing a lot to the table.

 

Casady1

(2,133 posts)
12. My brother who
Mon Oct 25, 2021, 07:18 PM
Oct 2021

Is a veteran of the auto industry. It is only a matter of time before the big car companies put a real dent into tesla. He thinks one year out and they will do significant damage. Dealerships owners are very powerful at the state level. My money is on VW.

OrlandoDem2

(2,065 posts)
14. Do you mean by unveiling their own electric cars? If so then I agree.
Mon Oct 25, 2021, 07:21 PM
Oct 2021

VW is going to come on strong in the electric market.

 

Casady1

(2,133 posts)
28. These are big
Mon Oct 25, 2021, 08:12 PM
Oct 2021

manufacturing companies with facilities and the dealer network and that matters when things get big.

Shermann

(7,412 posts)
16. Detroit is having to play catch-up
Mon Oct 25, 2021, 07:23 PM
Oct 2021

It is absolutely not a given that these lumbering behemoths with all their legacy baggage will catch the nimble Tesla.

Tesla is moving with as much of a purpose as ever.

 

Casady1

(2,133 posts)
26. The big manufacturers have the manufacturing knowhow
Mon Oct 25, 2021, 08:10 PM
Oct 2021

and the dealer network and that really matters. They don't have to build facilities., If you really look into Tesla the bodies are pretty shitty with shitty paint jobs.

Shermann

(7,412 posts)
41. Tesla has invested heavily in the Giga Press employing German manufacturing technology
Mon Oct 25, 2021, 08:21 PM
Oct 2021

Shitty bodies my ass, they are way ahead with the right partners.

So Detroit has the retail brick and mortar "ace in the hole". We'll see how that hand holds up.

 

Casady1

(2,133 posts)
52. VW and Toyota
Mon Oct 25, 2021, 08:39 PM
Oct 2021

Are the two biggest car manufacturers in the world. Do you think they know just a bit about manufacturing. Toyota has been the best built car for the last 40 years. These companies are huge and worldwide. Their facilities are built and the dealer network is really important when you get big.

Celerity

(43,330 posts)
15. The table below lists all companies which have, at any point, had a market capitalization in excess
Mon Oct 25, 2021, 07:22 PM
Oct 2021
of $1 trillion, the date on which their market cap exceeded $1 trillion and their record market cap.




PetroChina, The first company to ever reach $1 trillion in market value was in China and got crushed

https://www.cnbc.com/2018/08/02/petrochina-did-not-fare-well-after-reaching-1-trillion-in-market-cap.html

Shermann

(7,412 posts)
17. EV's and mass transit and solar panels, Oh My!
Mon Oct 25, 2021, 07:30 PM
Oct 2021

Rocket ships too. Honesty I don't get the disdain for the man from the left. You'd think he's the NRA's president.

Celerity

(43,330 posts)
20. anti-union, his move to Texas after he defied California's Covid rules, plus he is nowhere near
Mon Oct 25, 2021, 07:49 PM
Oct 2021

Last edited Mon Oct 25, 2021, 08:27 PM - Edit history (1)

a net overall big Dem booster in terms of his support of the two parties.

https://en.wikipedia.org/wiki/Views_of_Elon_Musk

Politically, Musk has described himself as "half Democrat, half Republican" and "I'm somewhere in the middle, socially liberal and fiscally conservative." In 2018, he stated that he was "not a conservative. I'm registered independent [and] politically moderate." Prompted by the emergence of artificial intelligence, Musk has voiced support for a universal basic income; he additionally backs direct democracy and has stated he thinks the government on Mars will be a direct democracy. He has described himself as a "socialist", but "not the kind that shifts resources from most productive to least productive, pretending to do good, while actually causing harm"—arguing instead, "true socialism seeks greatest good for all." He supports targeting an inclusive tax rate of 40%, prefers consumption taxes to income taxes, and supports the estate tax, as the "probability of progeny being equally excellent at capital allocation is not high."

In an interview with The Washington Post, Musk stated he was a "significant (though not top-tier) donor to Democrats," but that he also gives heavily to Republicans. Musk further stated that political contributions are a requirement in order to have a voice in the United States government. A 2012 report from the Sunlight Foundation, a nonpartisan group that tracks government spending, found that since 2002, SpaceX had spent more than $4 million on lobbying the United States Congress and more than $800,000 in political contributions to Democrats and Republicans. As for Musk specifically, the same report said that "SpaceX's campaign to win political support has been systematic and sophisticated," and that "unlike most tech-startups, SpaceX has maintained a significant lobbying presence in Washington almost since day 1." and that "Musk himself has donated roughly $725,000 to various campaigns since 2002. In 2004, he contributed $2,000 to President George W. Bush's reelection campaign, maxing out (over $100,000) to Barack Obama's reelection campaign and donated $5,000 to Republican Sen. Marco Rubio, who represents Florida, a state critical to the space industry. [...] All told, Musk and SpaceX gave out roughly $250,000 in the 2012 election cycle."

Musk has described the United States as "[inarguably] the greatest country that has ever existed on Earth," describing it as "the greatest force for good of any country that's ever been." Musk believes democracy would not exist any longer if not for the United States, saying that it prevented this disappearance on three occasions through its participation in World War I, World War II, and the Cold War. Musk also stated that he thinks "it would be a mistake to say the United States is perfect, it certainly is not. There have been many foolish things the United States has done and bad things the United States has done."

In September 2021, in response to Texas Governor Greg Abbott saying that Musk supported Texas' "social policies", Musk tweeted "In general, I believe government should rarely impose its will upon the people, and, when doing so, should aspire to maximize their cumulative happiness" and "That said, I would prefer to stay out of politics".

Celerity

(43,330 posts)
49. The Democratic Party has been trying to do this for decades, but there are so many moving parts.
Mon Oct 25, 2021, 08:31 PM
Oct 2021

There is no magic bullet, unfortunately.

Walleye

(31,015 posts)
53. Got into a heated discussion with a young man I know he said he hated all politicians
Mon Oct 25, 2021, 08:39 PM
Oct 2021

I kind of took it personally since in this state we know our politicians pretty well. Several of them have been very nice to me on occasions

LiberalArkie

(15,715 posts)
21. And saving NASA a lot of money with their ability to stick a landing and reuse the rockets.
Mon Oct 25, 2021, 07:50 PM
Oct 2021

ULA and NASA had never thought of doing that.

LunaSea

(2,893 posts)
56. Yes they did.
Mon Oct 25, 2021, 08:56 PM
Oct 2021

Reusable designs go back decades. Reams of paper studies nobody would put up the funding for outlined the possibilities and technology requirements.


Coventina

(27,101 posts)
25. When is it enough?!?!?!?!?!?!?
Mon Oct 25, 2021, 07:58 PM
Oct 2021

He'll be dead just like the rest of us in a few decades, so what's the point?!?!?!

brooklynite

(94,503 posts)
31. Are you saying he WANTS to make more money?
Mon Oct 25, 2021, 08:14 PM
Oct 2021

Do you have evidence that points to that?

He's a successful businessman. Nobody's required to do business with him.

Coventina

(27,101 posts)
34. Well, if he didn't want all that money, he could be PAYING HIS FAIR SHARE OF TAXES!
Mon Oct 25, 2021, 08:16 PM
Oct 2021

Or giving it away!

By not doing those things, the conclusion is that he WANTS MORE MONEY!!

brooklynite

(94,503 posts)
38. He is paying his LEGAL share...
Mon Oct 25, 2021, 08:20 PM
Oct 2021

...it's up to the President and Congress (both Democratic) to change that equation.

Celerity

(43,330 posts)
48. which why there is so much dislike for Manchin and Sinema, as they are blocking this:
Mon Oct 25, 2021, 08:29 PM
Oct 2021
it's up to the President and Congress (both Democratic) to change that equation.

Polybius

(15,385 posts)
73. Why pay more if you don't have to?
Mon Oct 25, 2021, 11:37 PM
Oct 2021

I hate tax cheats more than anyone, but paying more than he's supposed to would make him foolish. If he wants to do something productive, he should give some to his charity of choice (not saying he doesn't do so already).

Elessar Zappa

(13,964 posts)
43. He should give away the vast majority of his wealth.
Mon Oct 25, 2021, 08:22 PM
Oct 2021

No one should have as much money as him. It’s disgraceful.

Coventina

(27,101 posts)
69. I'm working on it, along with millions of other Americans.
Mon Oct 25, 2021, 09:19 PM
Oct 2021

Wish more so-called "progressives" would join us.....

Response to LiberalArkie (Original post)

brooklynite

(94,503 posts)
29. Perhaps people could stop buying his products. That'll teach him.....
Mon Oct 25, 2021, 08:12 PM
Oct 2021
"Tesla Surpasses $1 Trillion in Market Value as Hertz Orders 100,000 Vehicles"

brooklynite

(94,503 posts)
32. Last time I checked, there were 7 Billion other people...
Mon Oct 25, 2021, 08:15 PM
Oct 2021

...and their Government entities on the planet.

Coventina

(27,101 posts)
35. You seemed to indicate that people could stop giving him money.
Mon Oct 25, 2021, 08:17 PM
Oct 2021

I was merely pointing out that he has none of mine.

fescuerescue

(4,448 posts)
44. He's probably done more to fight global warming
Mon Oct 25, 2021, 08:23 PM
Oct 2021

than any other human in history.

We ask...just think of all the good he could do with that money.

I would say he's doing it.

Shermann

(7,412 posts)
54. Him or Al Gore maybe
Mon Oct 25, 2021, 08:51 PM
Oct 2021

How would you even measure the impact?

Musk moved the needle on the EV conversation which hadn't moved in 20 years. That's underselling his impact really, EV's are starting to look inevitable. He deserves props for that, if he accomplishes nothing else in his life.

It's OK for him to be an independent and not a Democrat. However, with his power and influence it is fair game to look at the totality of what he does and decide whether it is a force for good or not. I think he clearly passes that test.

Latest Discussions»General Discussion»ELON MUSK IS NOW WORTH OV...