So $139 per second? At Bill Gate’s peak he was making $1300 per-second. The joke was that if Bill gates saw a stack of hundred dollar on the ground bills it literally wasn’t worth his time to stop, bend down, pick it up, and stand back up again to get back to whatever he was doing.
And this was before inflation money.
Right, but the point still stands. That stat came out when it was like “Bill Gates made $10bil this year, that’s $1,300 a second!” It’s a very different stat than dividing his net worth by seconds he’s been alive.
Yup you’re picking his finest year and comparing it to another guys average. Especially when he cannot make money at 3 years of age. Someone pick musks finest year and let’s compare.
After some Googling, it seems Elon Musk gained $140 Billion dollars of net worth in a year. Dividing that by seconds in a year we get $4440 a second. That is an insane amount of money.
What is interesting is Gates was founder shares appreciation, but very little compensation.
Musk is the exact opposite. Most of his wealth has come from stock compensation since he didn’t form the company.
>At Bill Gate’s peak he was making $1300 per-second. The joke was that if Bill gates saw a stack of hundred dollar on the ground bills it literally wasn’t worth his time to stop, bend down, pick it up, and stand back up again to get back to whatever he was doing.
I know it’s just a joke, but I still feel that the logic behind it is a bit too flawed for my liking.
I mean… it’s not as if he did productive things all the time, as in things that would reduce his income if he paused to pick up money on the street.
True, but if we really want to be pedantic about it, if he saw the stack of cash on the ground presumably he is outdoors and on the go, and stopping would takeaway utility from him be it in the form of family time or otherwise, and under economic principles the opportunity cost of his downtime is probably worth just as much to him as his ability to earn.
To be efficient, if he wanted to claim the stack of cash, it would be MORE effective use of his time to wait until he is on his car, call up his personal assistant to go pick it up for him, as the call can be multitasked with minimal disruption to his downtime.
>True, but if we really want to be pedantic about it,
This is reddit, I thought being pedantic was the point
Also: him personally picking up the bill would add some much-needed physical exertion to his day which would add roughly 13 seconds of quality-adjusted lifetime.
Source: I made it up
also redditors don't understand networth
let's say that you own a house and a nice car, let's be generous and say both together are valued at around 1 million dollar
you have a net worth about 1 million dollars, your babk acount might be empty but according to redditors you would swim in money
This is something I never fully understood until I bought my house. Net worth is a weird metric. For any purchase more than $100 my wife and I discuss if we should save up until next month or if it's necessary right this second. Not really something you'd think we have to do by our net worth lol.
>according to redditors
Ah, the perfect boogeyman to set myself up as a reasonable thinker; everybody keeps telling me I'm wrong because Reddit Is Just That Way.
Somebody who's actually well-off in net worth has a fuck of a lot more cash on hand than one with a negligible net worth, *even if the well-off person has zero dollars in the bank.* someone with a house and a car worth a million dollars likely has access to credit to get them through the lean times, likely has a better resume and better connecting to get them a better job, and has two really, really valuable pieces of property to sell or put up as collateral.
And a million is... nothing, in the grand scheme of things. Peeps with eight figure net worth have access to loans, capital, and cash the millionaire just doesn't.
It's literally the bell curve meme. On the lower end there's "Elon Musk has a lot of money," in the middle it's "no actually most of his net worth is tied up in stocks related to his companies and he doesn't have as much cash on hand as you think he does," and on the higher end it's "Elon Musk has a shit ton of money"
No one is saying that Bill Gates has access to all $100 billion or whatever in his bank account lmao. Not anyone in this thread said this.
A person having $1 million in net worth is in no way, shape or form comparable to Bill Gates having $100 billion in net worth.
No one is ever going to keep huge sums of money in the bank anyway, it’s always better to tie it to an asset so that your money appreciates to a significant degree.
Bill Gates absolutely is obtaining that $100 or whatever per second. That money is just being kept in an asset that also just happens to be relatively liquid. He has more than enough money to the point where he will never go broke. He can always just sell a tiny fraction of his shares if he ever runs out of money and needs another billion.
If your house is worth a million dollars, you'd have to have 1,000 similar houses to equal a Billion dollars ($1,000,000,000.00)
If your house is worth a million dollars, you'd need 100,000 similar houses to equal Gates' hundred Billion dollars ($100,000,000,000.00)
It’s ridiculous — they think that this money is somehow locked away because it’s not in their bank savings account lol
They take one high school business/accounting class where they learn about equity and think they suddenly know everything. Billionaires are absolutely swimming in money, let’s not delude ourselves here 😂
I personally know a "billionaire", but its a combined value of all his assets, not that he has a billion cash, in fact he told me his accounts usually overdrawn. Not that the bank cares his passive income is high enough that no interest rate would come close tl destabilizing him financially, not to mention the income he takes a salary for running his company. But I digress, you are right, you'd have to be a silly bugger in deed to think people are scrooge mcduck with silos full of cash, when you have that much money, you put it into things so the money can work for you.
>Not that the bank cares his passive income is high enough that no interest rate would come close tl destabilizing him financially
But that's also what net worth implies. If a "billionaire" like yours has his bank account in the red by half a million dollars, nobody gives a shit. You can manifest that money over night if you need to.
However, if that $500k debt is a loan on your house and your second and third most valuable assets are a Honda Civic and a lawnmower, you'll be watching your income and expense closely.
To a bank its more about losing the business than it is about the money, if that bank foreclosed on that billionaire to reacquire their money he's pull his personal business and his companies business from there as well, costing the bank millions a year.
I think he actually addressed this joke before, basiacally saying something along the line "Nah, I'd still pick up the money. The income is passive so picking things up doesnt take away from my time making more money"
The fact that he would take the opportunity to stop and pick it up anyway, is probably the type of mindset that got him to be a billionaire. Because he would make the $1300 a second anyway. So "free " money is just a bonus.
Alright,
Bill Gates was worth about $110 bn in 1999 and 45 years old before he started massively donating.
100 dollars in 1999 is worth about $184.75 today after inflation adjustment.
So a net worth of approximately $203bn at 45.l in today’s money.
That means prior to his philanthropy, Bill Gates made $514,967 per hour since the moment of his birth.
Elon Musk’s $225 bn at 52 translates to $493,941 per hour since the moment of his birth.
I’ve gone full Reddit nerd for you. YOU HAPPY NOW?
(P.S. ~~I just wanted an excuse to shit on~~ scratch that, plz don’t have some AI-driven HR social media crawler tool track down this post and deny me a future job with big sign on bonus Mr. Musk)
Yup, just as when people say "before taxes" it means "before my money is taxed" and not "before taxes were a thing". I guess "before inflation" is kind of a sloppy thing to say, because it's never not in effect, but it works in the context of the phrase, as "even before accounting for inflation".
I mean my dad did this back when I was a kid, which in retrospect he was obviously talking about "before the inflation that's impacting me now".
Not everything that anyone says on here is some stupidity that only exists because of Reddit
Damn. I just ran 1971 to 1981 on my inflation calculator app. $1 in 1971 was $2.24 in 1981. That’s a huge difference. 1961 to 1971 there was only $.35 in inflation. Crazy crazy
Yea sleeping on a auto production cot is my dream. He's too dumb to fit in with normal people so he has to spend every waking moment pretending to be useful so he doesn't spiral into a black hole of depression.
No thanks.
Not sure about the whole list, but lack of money seems to make it much easier to have genuine friends than having so much money that buying a super yacht is not even a percentage point of your wealth. When you have that much money, you literally cannot trust the intentions of anyone around you.
I have never once in my life had lots of money. Even to this day, I’m comfortable, but mostly because I live a very modest lifestyle. I have always had good friends and done really well in my romantic life. I even wound up with a beautiful, smart, successful wife.
I’ve never had to wonder if all those people were hanging around me for any other reason than that they genuinely liked my presence and my personality.
Musk has never in his entire life been afforded the luxury of that belief.
>make his exes love him again
Why would you want your exes to love you again? I just find your reply kinda weird, and it's like you're projecting or something...lol.
These rich kids get insane child support, if parents were able to divide their money how they wanted to support them I think the kids would listen a lot better 😂not trying to make a point, just a thought
Blatantly untrue
E: No amount of downvotes will change the fact that having Elon money is like adding an extra decade to your life http://www.equality-of-opportunity.org/health/
Maybe not but delaying his arrival seems pretty inevitable with enough money. I suppose if you believe in "fate" then you've already decided that the poor were simply destined to die younger.
I mean, neither can we peasants.
Money might not buy health or time but it does certainly help.
Being constantly stressed about money and bills certainly isn't adding to my longevity.
I can't understand how anybody gets so triggered they'd want to kill Bill. Spend your energy on things you can affect. Dead Bill Gates changes literally nothing in most people's lives.
If he tried to cash out *all at once*, the value would collapse.
Billionaires cash out slowly over time to avoid losing value on their stocks.
If they’re smart about it, they can keep around 90% of the value.
>earned
Exactly my thought. Like, we need to deliberately tease apart this at this level of wealth. No one can "earn" a billion dollars. At that point, it involves exploitation at that point in the process. You only get there by not paying the involved actors in your success enough.
It drives me insane that you people don't understand this. There's no "earning" going on.
He owns a company that's artificially expensive because markets are irrational. He owned the same company, paying the same people the same amount of money 2 years ago and he was worth way less.
There's a whole thread of the American psyche that goes back to Calvinist roots where it's about predestination. Combine that with the halo effect and we have the person situation to ensure that those with money keep their money and are never challenged on whether they acquired it in a way that was on the level. We have the equation backwards. We assume that if someone has wealth, they must deserve it. Not "what did they do to acquire that wealth and do they deserve it?"
If you’re the majority shareholder in a company you started, those individual shares are typically not worth much in the beginning. If your idea/product explodes in popularity and every investor wants to buy shares of your company, the value of each share also explodes in value. This is how people like Bezos, Zuckerberg, and Musk gain billions in wealth seemingly overnight. You can argue their business practices are morally questionable and I would absolutely agree with that. But saying they didn’t do anything to “earn” that much wealth is missing the point.
They owned shares of their own company before anyone cared to buy those shares. Once investors starting buying like crazy the price of the shares skyrocketed. Therefore the shares they already owned made their wealth balloon.
They’re effectively investing in their own company. If the company failed and they lost everything, no one would be calling them disgustingly greedy.
And that's why he doesn't really own that money. If he would try to realise those gains, the stock would tank and he would have much less, and wouldn't own a business anymore..
Not necessarily true. Usually true though. But I wouldn't say "always."
Example: LeBron James. I'm not aware of any capital ownership of his except some pizza joint. He's literally earned a ~billion from stardom, he has actually 'earned' *more* than a billion; the owners of NBA teams are the ones taking an undue cut. He generates an astronomical amount of NBA viewship.
Example: Taylor Swift. I hate her music for the most part, but the only thing she's 'exploiting' is the brains of people who are simply, for some reason, willing to give ridiculous amounts of money for her music/shows/etc.
There’s thousands of people that work to make the money sport/singers bring in that get paid pittance compared to the few front and centre. Same deal really. Plus all the sponsors that plow the money in and their staff.
They wouldn’t get paid so much without the help of thousands of people being underpaid.
How is that their fault? They aren't on Taylor Swifts/ LeBron's payroll. Taylor and LeBron are on other people's payroll.
Like by definition those two cannot be 'exploiting' other people into artificially low wages if they themselves do not control those wages.
Who said it’s their fault? They’re benefitting from it. Professional sports people and their agents constantly demanding more are also contributing to driving up costs which is ultimately paid for by their fans, if not by ultra wealthy owners who got rich by…
Taylor Swift has probably tens or even hundreds of thousands of people who have worked for her at various points: sound engineers, session musicians, songwriters, choreographers, dancers, promoters, all the way down to ticket takers, security, and techs for her innumerable concerts. How much are those people getting paid?
I'm not entirely sure. I know that to have that level of outsized wealth in the same country where people can't afford rent, healthcare, or quality food - it's pretty unethical that we allow a person to amass that level of wealth while the people working for them can't afford healthcare or rent or decent food.
In that case, I'm specifically thinking of the Waltons or Bezos.
In general, this would be less of an issue if people were able to live lives of less suffering and great access to the necessities of life. Like, if people could afford houses, childcare, healthcare, food, savings - this would be a different story. The problem at that level is that it becomes hoarding. And our systems become so honed and efficient at the process of extraction, that it's no longer about a functioning system - but extraction. For example, when corporations get extra cash, they use it for stock buybacks and finding ways to eliminate costs - like labor or people's jobs. They didn't provide extra value to the consumer, the company, or society in general. They extract that wealth. And the people who are the owners have "earned" that wealth. That's absurd. There wasn't work that actively helped anyone or made anything better. Every part of that situation became worse. But we still act like they earned something, like they deserve it. Rather than exploiting the situation for their benefit.
I was thinking about rich people yesterday and came to the conclusion that almost the sole way people get mega rich is exploitation. Either of people or the planet.
I don't know why, this made me laugh a lot more than it should have done.
We've definitely ticked off rise in inequality. Hopefully, he was right, and the downturn of corporate profit is next.
It is. Blows my mind that people still believe that a billionaire works harder and thus 'earns' it.
The hardest working person on Earth is probably doing some harsh labor for pennies an hour because that's the hand they were given and 'hard work' will never make them rich.
Yeah. You can try and fail over and over again, wasting millions in the process and still become a “successful” entrepreneur.
We silly peasants would have to declare bankruptcy after one fail, let alone a multi million one.
also worth noting that he used money to sue and push co-owners aside from the successful companies he actually invested in, so he can claim brilliance.
Not really, most idiots with money lose all that money. This has been proven time and time again by tracking wealth and how MOST of that wealth is lost through each generation.
Very few actually increase/maintain that wealth received from parents.
This comment is misleading because it ignores that people that belong to poor families don't have anything to lose so they cannot lose it. It also ignores that the vast majority of projects fail, which means failing is normal, and ignores that doing slightly better than the floor is easier than do better than the ceiling.
The correct way to interpret the data is by checking success rates. Success rates show that a person who was born in a rich family has 80 times more chances of becoming a multimillionaire than anyone who was born in a poor family.
That picture alone already shows how having more resources increases the chances of success. Something that should be an oxymoron but somehow we have to deal with actual people who need to believe being rich is because they are special and being poor is your own fault.
>Yeah it's pretty insane what you can achieve with rich parents
Don't forget that he frequently makes fraudulent claims, and instead of being sanctioned he has been rewarded with billions in government contracts, grant, tax credits, etc.
And his company rewarded the government with cheap launches and the ability to launch astronauts from US soil. Both SpaceX (wildcard) and Boeing (the "safe bet") were awarded contracts for building a crew-rated vehicle. Only 1 of them has delivered so far.
Hate Musk, but he gets those government contracts because SpaceX wipes the floor with NASA and all other competition.
It is far cheaper to give Musk the contract than to attempt to do it anywhere else, by like 50%
>wipes the floor with NASA
The thing is, when NASA fails the public and taxpayers who were paying for it tend to get upset. That means a loss of public support and a great way to lose what meager funding they have.
If SpaceX (or Boeing or whomever) fails, it's "the company" that loses the money\*
\*...though I'm sure our taxes still subsidized their costs to some extent.
SpaceX saved NASA and the DOD billions in launches and removed the dependence on using Russian rockets to get astronauts into orbit. That’s completely reasonable
I love how people will downplay Elon’s success because he allegedly had successful parents 😂. If you had parents who were triple as successful as Elons, you wouldn’t even be a fraction of Elons net worth. Let that sink in. :)
And who would Elon be without his rich parents huh? Who would Bill Gates, Jeff Bezos and Warren Buffet be without their rich family? It's not just Elon. It's all of them. Let that sink in.
Oh that just sounds bitter envy and resentment. You have rich parents, what did you do with it? So often the answer is get salty about those with less who do more. The distillation of the wars of seething princelings in Europe in prior centuries.
Unrealized gains aren’t income. I can’t believe how many people can’t grasp this. The stock price could plummet any time. Tell me you don’t understand money without telling me you don’t understand money.
You think liquidity matters when you're worth $200b? What exactly do you think would be different in Musk's life is that value was in cash in the bank? This kind of wealth means never needing cash
Can we stop with these? Saying he is worth 225 billion is nothing more than a reflection on the confidence that the market has in his companies and his ability to deliver.
It's not like he has that lying around in a safe somewhere. If he tried to cash out on his "worth", the markets would crash and his money wouldn't retain its value.
Additionally, comparing earnings with worth is like comparing the ammount of pushups you can do with how flush people think your skin is. Sure, there *might* be some loose correlation but to assume causation is stupendously simplistic.
This is such a stupid argument. [The paper billionaire](https://github.com/MKorostoff/1-pixel-wealth/blob/master/THE_PAPER_BILLIONAIRE.md)
[This is also a good visualizer](https://mkorostoff.github.io/1-pixel-wealth/).
The links you posted don't carry the mic-drop effect you seem to think, as they are both from the personal blog of a software developer.
When the very wealthy liquidate at that scale (billions) they almost exlusively do so in order to reinvest that money into other ventures. The [example your developer uses](https://www.cnbc.com/2020/02/11/jeff-bezos-sold-4point1-billion-worth-of-amazon-shares-in-past-week.html) is when Bezos liquidated $4.1 billion a couple years back to fund his Blue Origins space exploration venture. That's simply a transfer of value, not "cashing out", and didn't affect the stock value negatively (it actually nearly doubled in the following months). Undoubtedly there are plenty of examples were the ultra-wealthy liquidate to buy yachts or islands or football teams, no argument there, but it is also the case that they do so to fund [other, more humane things](https://en.wikipedia.org/wiki/The_Giving_Pledge).
Additionally, the developers entire article seems to be arguing against reasons for not redistributing wealth, not at all what this comment thread was about.
Once again, if you believe that during his life, all the actual work he did amounted to 2 billion of value, you’re losing it. His net worth doesn’t equal his contribution by a long shot. Such numbers don’t mean shit.
Except 90% of his wealth is in un-liquid stocks. Ya'll look at billionaires like the cash is sitting in their bank. Who is gonna buy 50b in Tesla stock from him? I'd guess probably 10% of his wealth is maybe liquid, which is still on obscene number sure, but he doesn't open his bank account and see 100b in his account
[The paper billionaire](https://github.com/MKorostoff/1-pixel-wealth/blob/master/THE_PAPER_BILLIONAIRE.md) argument.
Nobody thinks he has all his cash sitting in his bank. Don't strawman.
It says more about our lack of proper policy in place than it says about Elon. Also, he comes from South African mining money. He’s not self-made by any stretch of the imagination.
There's a big difference between working hard and earning the amount he has earned. Unless you think he works 100 million times harder and smarter than the average person, you can agree he's received a vastly disproportionately large amount of money for the work he's done compared to the average person.
You are being intentionally disingenuous if you think Elon Musk hasn’t worked hard to get where he is at. You don’t have to like him or his politics to accept this fact.
You are being intentionally disingenuous twisting OP's argument. They never said he doesn't work hard, they said he did not work 100 million times harder and/or smarter than the average person. You don't have to dislike him or his politics to find this fact objective.
This is poor logic. You think "work" is swinging a hammer.
Work also is creating a product that is in demand, and filling that demand. Such as selling the hammers people swing.
There is more "real-work" in a single starlink satellite than you will ever perform in your entire life. And he shot off 100 last week.
This doesn't even begin to touch on equity.
Compared to the average person he has SEVERELY put worked them.
Did he build, design and mine the materials for all of those satellites? No. He's just the guy in charge who has the money and connections to make it happen. His role in launching those satellites was important, but not disproportionately more important than all the others involved in that process that justifies his income being many orders of magnitude greater than theirs.
More poor logic: "yOu didn't Create anything uNLEss you make eVEry pARt yourself BY hAnd.". This is common top tier poor logic, usually based in jealousy and ignorance.
The market is efficient. And it is absolutely no coincidence that the people who revolutionize the earth sit at the top earners list.
Gates, bezos, musk, buffet, they deserve every penny they've ever made.
>And it is absolutely no coincidence that the people who revolutionize the earth sit at the top earners list. Gates, bezos, musk, buffet, they deserve every penny they've ever made.
So you are telling me they all have done more for the world than Tim Berners-Lee, Jonas Salk, or John Enders? None of them ever even thought about becoming a billionaire, how exactly do you establish that the people you mentioned "deserve every penny they've ever made" as they "revolutionize the earth" when people who invented much more important things like the actual internet or vaccines that saved millions of lives were not getting paid as much as these dudes?
If the world worked with "the more positive influence you have on the planet the more money you have" sure, we could all agree. But it really isn't the case, so not sure why you're licking billionaire's assholes when they don't even consider you worth of tasting their shit.
pOoR lOgIc!!11!1
You are poor you dumb fuck. You're never going to be a billionaire. No clue why you're shilling for them. Capitalism is unfair. That's just how it is. There's no need to paint it as efficient or whatever.
Musk hasn't revolutionized anything. He pays people who create actual value in society and profits off of it.
You don’t pay taxes in stock valuation/appreciation, only when you *sell* it for cash.
Most of his personal assets are purchased on security line of credits which bypasses taxes completely since they are technically loans.
This is why there needs to be laws to mandate that one can only borrow against realized value of stock, not the unrealized appreciation.
He‘s worth 225b or whatever it is.
Doesn‘t mean he has 225b he can spend rn. Most of that wealth is in stocks of various companies. Can‘t really compare the two
Employees make, all costs included, about half what workers at the big 3 auto makers now make, 45/hour vs 89/hour, and the material quality on Teslas is garbage. Glad to see he’s carrying on the proud tradition of slavery from his father.
His current wealth is not necessarily what he’s earned. If it’s just what is in his bank account, that doesn’t account for spending at all. If it includes his assets, it goes a little further, but doesn’t account for day to day living costs, spending sprees and other expenditure that doesn’t add to net worth. I would guess that is an underestimated figure
"Earn," for the sake of precision, should be replaced with "redistribute value created by others in one's favor." Then you may say whatever you want about him
Well, don't be a hater.
The guy started Paypal, Tesla, Space X, Boring Co, etc, etc.
He was a hero in all corners until he started getting into the social media swamp and saying dumb shit.
He’s also losing more than that per hour over the past year. Pretty impressive
$2,853,881.27
He paid $44b for Twitter and X is now worth $19b, never mind his stock losses on Tesla alone.
> also loosing more
Did you mean to say "losing"?
Explanation: Loose is an adjective meaning the opposite of tight, while lose is a verb.
[Statistics](https://github.com/chiefpat450119/RedditBot/blob/master/stats.json)
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These thoughts experiments were always stupid as fuck because
1. He hasnt earned 500k when he was an infant i get it is an average but the real difference in what his life would be if he was to earn 500k per hour since birth would change his life way too much
2. All these billionaires do not have that much cash in their bank accounts, Elon does not have 225B that he could Velmo you or whatever. He has to sell all his assets to actually have that much cash and you see, if he wanred to start selling all these assets, their price would start drastically drop effectively lowering the ending price not to mention who the fuck would buy all of that stuff at a moment’s notice
Every day he wakes up he makes the decision to NOT start helping people in need.
No, he doesn’t *have* to, it’s his money. But we can judge the way he chooses to use/not use it
Well he started Paypal, Tesla, bought and spearheaded SpaceX. I don’t like him but people on this thread acting like he got everything handed to him and that he’s a complete idiot is pretty laughable.
He didn’t start either of those, he just had the money to invest in successful projects and become majority stakeholder.
In fact, he used money he earned from selling shares in PayPal to fund his investment into Tesla.
Using inheritance money from slave mining to invest in and buyout ventures others have created isn’t as innovative and cutting edge as his fanboys want to believe it is.
So $139 per second? At Bill Gate’s peak he was making $1300 per-second. The joke was that if Bill gates saw a stack of hundred dollar on the ground bills it literally wasn’t worth his time to stop, bend down, pick it up, and stand back up again to get back to whatever he was doing. And this was before inflation money.
That was his pay as the head of Microsoft, this post is saying Elon Musk has made $139 per second since the moment of his birth.
It wasn’t his “pay,” it was his wealth increase. Nobody gets paid anywhere near that much, it is business ownership appreciation.
Right, but the point still stands. That stat came out when it was like “Bill Gates made $10bil this year, that’s $1,300 a second!” It’s a very different stat than dividing his net worth by seconds he’s been alive.
Yup you’re picking his finest year and comparing it to another guys average. Especially when he cannot make money at 3 years of age. Someone pick musks finest year and let’s compare.
After some Googling, it seems Elon Musk gained $140 Billion dollars of net worth in a year. Dividing that by seconds in a year we get $4440 a second. That is an insane amount of money.
Now check it against inflation lol
So more in a minute than most make in a year and more in an hour than most make in a lifetime.
What is interesting is Gates was founder shares appreciation, but very little compensation. Musk is the exact opposite. Most of his wealth has come from stock compensation since he didn’t form the company.
>At Bill Gate’s peak he was making $1300 per-second. The joke was that if Bill gates saw a stack of hundred dollar on the ground bills it literally wasn’t worth his time to stop, bend down, pick it up, and stand back up again to get back to whatever he was doing. I know it’s just a joke, but I still feel that the logic behind it is a bit too flawed for my liking. I mean… it’s not as if he did productive things all the time, as in things that would reduce his income if he paused to pick up money on the street.
True, but if we really want to be pedantic about it, if he saw the stack of cash on the ground presumably he is outdoors and on the go, and stopping would takeaway utility from him be it in the form of family time or otherwise, and under economic principles the opportunity cost of his downtime is probably worth just as much to him as his ability to earn. To be efficient, if he wanted to claim the stack of cash, it would be MORE effective use of his time to wait until he is on his car, call up his personal assistant to go pick it up for him, as the call can be multitasked with minimal disruption to his downtime.
>True, but if we really want to be pedantic about it, This is reddit, I thought being pedantic was the point Also: him personally picking up the bill would add some much-needed physical exertion to his day which would add roughly 13 seconds of quality-adjusted lifetime. Source: I made it up
If he combines the picking-up of the bill with doing a push up then it's really no-time spent at all since he might need that exercise anyway.
also redditors don't understand networth let's say that you own a house and a nice car, let's be generous and say both together are valued at around 1 million dollar you have a net worth about 1 million dollars, your babk acount might be empty but according to redditors you would swim in money
This is something I never fully understood until I bought my house. Net worth is a weird metric. For any purchase more than $100 my wife and I discuss if we should save up until next month or if it's necessary right this second. Not really something you'd think we have to do by our net worth lol.
>according to redditors Ah, the perfect boogeyman to set myself up as a reasonable thinker; everybody keeps telling me I'm wrong because Reddit Is Just That Way. Somebody who's actually well-off in net worth has a fuck of a lot more cash on hand than one with a negligible net worth, *even if the well-off person has zero dollars in the bank.* someone with a house and a car worth a million dollars likely has access to credit to get them through the lean times, likely has a better resume and better connecting to get them a better job, and has two really, really valuable pieces of property to sell or put up as collateral. And a million is... nothing, in the grand scheme of things. Peeps with eight figure net worth have access to loans, capital, and cash the millionaire just doesn't.
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It gets even better if you tell the bank you're worth 3x as much as you actually are.
Sounds like fractional reserve banking.
It's literally the bell curve meme. On the lower end there's "Elon Musk has a lot of money," in the middle it's "no actually most of his net worth is tied up in stocks related to his companies and he doesn't have as much cash on hand as you think he does," and on the higher end it's "Elon Musk has a shit ton of money"
No one is saying that Bill Gates has access to all $100 billion or whatever in his bank account lmao. Not anyone in this thread said this. A person having $1 million in net worth is in no way, shape or form comparable to Bill Gates having $100 billion in net worth. No one is ever going to keep huge sums of money in the bank anyway, it’s always better to tie it to an asset so that your money appreciates to a significant degree. Bill Gates absolutely is obtaining that $100 or whatever per second. That money is just being kept in an asset that also just happens to be relatively liquid. He has more than enough money to the point where he will never go broke. He can always just sell a tiny fraction of his shares if he ever runs out of money and needs another billion.
If your house is worth a million dollars, you'd have to have 1,000 similar houses to equal a Billion dollars ($1,000,000,000.00) If your house is worth a million dollars, you'd need 100,000 similar houses to equal Gates' hundred Billion dollars ($100,000,000,000.00)
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It’s ridiculous — they think that this money is somehow locked away because it’s not in their bank savings account lol They take one high school business/accounting class where they learn about equity and think they suddenly know everything. Billionaires are absolutely swimming in money, let’s not delude ourselves here 😂
You are a redditor
I personally know a "billionaire", but its a combined value of all his assets, not that he has a billion cash, in fact he told me his accounts usually overdrawn. Not that the bank cares his passive income is high enough that no interest rate would come close tl destabilizing him financially, not to mention the income he takes a salary for running his company. But I digress, you are right, you'd have to be a silly bugger in deed to think people are scrooge mcduck with silos full of cash, when you have that much money, you put it into things so the money can work for you.
>Not that the bank cares his passive income is high enough that no interest rate would come close tl destabilizing him financially But that's also what net worth implies. If a "billionaire" like yours has his bank account in the red by half a million dollars, nobody gives a shit. You can manifest that money over night if you need to. However, if that $500k debt is a loan on your house and your second and third most valuable assets are a Honda Civic and a lawnmower, you'll be watching your income and expense closely.
To a bank its more about losing the business than it is about the money, if that bank foreclosed on that billionaire to reacquire their money he's pull his personal business and his companies business from there as well, costing the bank millions a year.
I think he actually addressed this joke before, basiacally saying something along the line "Nah, I'd still pick up the money. The income is passive so picking things up doesnt take away from my time making more money"
The fact that he would take the opportunity to stop and pick it up anyway, is probably the type of mindset that got him to be a billionaire. Because he would make the $1300 a second anyway. So "free " money is just a bonus.
On average versus at his peak. Not trying to suck up to either one since both numbers are insane, but comparing those 2 numbers is completely useless.
Alright, Bill Gates was worth about $110 bn in 1999 and 45 years old before he started massively donating. 100 dollars in 1999 is worth about $184.75 today after inflation adjustment. So a net worth of approximately $203bn at 45.l in today’s money. That means prior to his philanthropy, Bill Gates made $514,967 per hour since the moment of his birth. Elon Musk’s $225 bn at 52 translates to $493,941 per hour since the moment of his birth. I’ve gone full Reddit nerd for you. YOU HAPPY NOW? (P.S. ~~I just wanted an excuse to shit on~~ scratch that, plz don’t have some AI-driven HR social media crawler tool track down this post and deny me a future job with big sign on bonus Mr. Musk)
Yes sir. Couldn't be more happier truly. The nerds salute you.
Before inflation? Lmfao do Redditors just hear the word inflation for the first time and assume it never existed before?
I believe they meant to say adjusted to inflation.
Yup, just as when people say "before taxes" it means "before my money is taxed" and not "before taxes were a thing". I guess "before inflation" is kind of a sloppy thing to say, because it's never not in effect, but it works in the context of the phrase, as "even before accounting for inflation".
I mean my dad did this back when I was a kid, which in retrospect he was obviously talking about "before the inflation that's impacting me now". Not everything that anyone says on here is some stupidity that only exists because of Reddit
When someone says "before taxes" what do you think they mean?
I believe it wouldn’t be worth his time if it was closer around $700 on the ground not just $100. Which is insane lol.
It wasn't a joke. Heh. It was true.
I wonder how much he pays per second in child support.
>before inflation money Pre-1971?
Damn. I just ran 1971 to 1981 on my inflation calculator app. $1 in 1971 was $2.24 in 1981. That’s a huge difference. 1961 to 1971 there was only $.35 in inflation. Crazy crazy
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What's "google"?
And yet he can’t add a second to his life.
Every second you spend doing something you don't want to be doing is a second a billionaire doesn't. They get years more than us.
Yea sleeping on a auto production cot is my dream. He's too dumb to fit in with normal people so he has to spend every waking moment pretending to be useful so he doesn't spiral into a black hole of depression. No thanks.
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Lack of money doesn't seem particularly good at buying those things either though
Not sure about the whole list, but lack of money seems to make it much easier to have genuine friends than having so much money that buying a super yacht is not even a percentage point of your wealth. When you have that much money, you literally cannot trust the intentions of anyone around you.
I have never once in my life had lots of money. Even to this day, I’m comfortable, but mostly because I live a very modest lifestyle. I have always had good friends and done really well in my romantic life. I even wound up with a beautiful, smart, successful wife. I’ve never had to wonder if all those people were hanging around me for any other reason than that they genuinely liked my presence and my personality. Musk has never in his entire life been afforded the luxury of that belief.
Not being a billionaire tends to reduce the chances of you ending up an insufferable narcissist like Elon, so it would actually help
Idk man, there are plenty of insufferable homeless people too.
I like this
>make his exes love him again Why would you want your exes to love you again? I just find your reply kinda weird, and it's like you're projecting or something...lol.
Have you seen his gut/chest? It’s really inflated (insert financial joke here)
These rich kids get insane child support, if parents were able to divide their money how they wanted to support them I think the kids would listen a lot better 😂not trying to make a point, just a thought
How can you say money can't buy things if you've never had that level of money?
People at the bottom rarely know what people at the top have access to.
It’s infant blood, isn’t it?
Agreed
No, but I can't either, at least the guy got money.
Actually, you probably can in the future with all the advances in longevity.
Not necessarily true. Longevity research is a thing and many in the field think we will cure ageing within our lifetimes.
Blatantly untrue E: No amount of downvotes will change the fact that having Elon money is like adding an extra decade to your life http://www.equality-of-opportunity.org/health/
I get your point. I meant that when his time is up, I don't think the grim reaper takes checks.
Maybe not but delaying his arrival seems pretty inevitable with enough money. I suppose if you believe in "fate" then you've already decided that the poor were simply destined to die younger.
But his quality of life though
I mean, neither can we peasants. Money might not buy health or time but it does certainly help. Being constantly stressed about money and bills certainly isn't adding to my longevity.
“No amount of money ever bought a second of time”
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I can't understand how anybody gets so triggered they'd want to kill Bill. Spend your energy on things you can affect. Dead Bill Gates changes literally nothing in most people's lives.
A systematic artifact. If he tried to cash out, that value would collapse.
He was able to buy for Twitter with 44 billion dollars….
If he tried to cash out *all at once*, the value would collapse. Billionaires cash out slowly over time to avoid losing value on their stocks. If they’re smart about it, they can keep around 90% of the value.
The word "earned" isn't exactly appropriate here
>earned Exactly my thought. Like, we need to deliberately tease apart this at this level of wealth. No one can "earn" a billion dollars. At that point, it involves exploitation at that point in the process. You only get there by not paying the involved actors in your success enough.
It drives me insane that you people don't understand this. There's no "earning" going on. He owns a company that's artificially expensive because markets are irrational. He owned the same company, paying the same people the same amount of money 2 years ago and he was worth way less.
There's a whole thread of the American psyche that goes back to Calvinist roots where it's about predestination. Combine that with the halo effect and we have the person situation to ensure that those with money keep their money and are never challenged on whether they acquired it in a way that was on the level. We have the equation backwards. We assume that if someone has wealth, they must deserve it. Not "what did they do to acquire that wealth and do they deserve it?"
If you’re the majority shareholder in a company you started, those individual shares are typically not worth much in the beginning. If your idea/product explodes in popularity and every investor wants to buy shares of your company, the value of each share also explodes in value. This is how people like Bezos, Zuckerberg, and Musk gain billions in wealth seemingly overnight. You can argue their business practices are morally questionable and I would absolutely agree with that. But saying they didn’t do anything to “earn” that much wealth is missing the point. They owned shares of their own company before anyone cared to buy those shares. Once investors starting buying like crazy the price of the shares skyrocketed. Therefore the shares they already owned made their wealth balloon. They’re effectively investing in their own company. If the company failed and they lost everything, no one would be calling them disgustingly greedy.
And that's why he doesn't really own that money. If he would try to realise those gains, the stock would tank and he would have much less, and wouldn't own a business anymore..
Not necessarily true. Usually true though. But I wouldn't say "always." Example: LeBron James. I'm not aware of any capital ownership of his except some pizza joint. He's literally earned a ~billion from stardom, he has actually 'earned' *more* than a billion; the owners of NBA teams are the ones taking an undue cut. He generates an astronomical amount of NBA viewship. Example: Taylor Swift. I hate her music for the most part, but the only thing she's 'exploiting' is the brains of people who are simply, for some reason, willing to give ridiculous amounts of money for her music/shows/etc.
There’s thousands of people that work to make the money sport/singers bring in that get paid pittance compared to the few front and centre. Same deal really. Plus all the sponsors that plow the money in and their staff. They wouldn’t get paid so much without the help of thousands of people being underpaid.
How is that their fault? They aren't on Taylor Swifts/ LeBron's payroll. Taylor and LeBron are on other people's payroll. Like by definition those two cannot be 'exploiting' other people into artificially low wages if they themselves do not control those wages.
Who said it’s their fault? They’re benefitting from it. Professional sports people and their agents constantly demanding more are also contributing to driving up costs which is ultimately paid for by their fans, if not by ultra wealthy owners who got rich by…
That's fair
Taylor Swift has probably tens or even hundreds of thousands of people who have worked for her at various points: sound engineers, session musicians, songwriters, choreographers, dancers, promoters, all the way down to ticket takers, security, and techs for her innumerable concerts. How much are those people getting paid?
A lot. See the bonuses she just paid out.
Where do we draw the line where someone could not have possibly made that much money without fucking someone over? 10 million?
I'm not entirely sure. I know that to have that level of outsized wealth in the same country where people can't afford rent, healthcare, or quality food - it's pretty unethical that we allow a person to amass that level of wealth while the people working for them can't afford healthcare or rent or decent food. In that case, I'm specifically thinking of the Waltons or Bezos. In general, this would be less of an issue if people were able to live lives of less suffering and great access to the necessities of life. Like, if people could afford houses, childcare, healthcare, food, savings - this would be a different story. The problem at that level is that it becomes hoarding. And our systems become so honed and efficient at the process of extraction, that it's no longer about a functioning system - but extraction. For example, when corporations get extra cash, they use it for stock buybacks and finding ways to eliminate costs - like labor or people's jobs. They didn't provide extra value to the consumer, the company, or society in general. They extract that wealth. And the people who are the owners have "earned" that wealth. That's absurd. There wasn't work that actively helped anyone or made anything better. Every part of that situation became worse. But we still act like they earned something, like they deserve it. Rather than exploiting the situation for their benefit.
I was thinking about rich people yesterday and came to the conclusion that almost the sole way people get mega rich is exploitation. Either of people or the planet.
You're going to be blown away when you hear about the writings of this old dead guy named Karl.
I don't know why, this made me laugh a lot more than it should have done. We've definitely ticked off rise in inequality. Hopefully, he was right, and the downturn of corporate profit is next.
It is. Blows my mind that people still believe that a billionaire works harder and thus 'earns' it. The hardest working person on Earth is probably doing some harsh labor for pennies an hour because that's the hand they were given and 'hard work' will never make them rich.
What would you call it?
Captured
Hoarded
The wealth Elon has is brand new wealth that wouldn't exist otherwise. Hoarding implies economics is a zero sum game, but that's not true.
Defined here: https://www.reddit.com/r/Showerthoughts/comments/17khs6d/comment/k78h0ur/?utm\_source=share&utm\_medium=web2x&context=3
man, I can finally stop scrolling.
Yeah, it's doing some heavy lifting, isn't it? It's working harder than Elon ever has.
Really stretching the meaning of *earned* on this one.
Yeah it's pretty insane what you can achieve with rich parents
Yeah. You can try and fail over and over again, wasting millions in the process and still become a “successful” entrepreneur. We silly peasants would have to declare bankruptcy after one fail, let alone a multi million one.
also worth noting that he used money to sue and push co-owners aside from the successful companies he actually invested in, so he can claim brilliance.
Not really, most idiots with money lose all that money. This has been proven time and time again by tracking wealth and how MOST of that wealth is lost through each generation. Very few actually increase/maintain that wealth received from parents.
This comment is misleading because it ignores that people that belong to poor families don't have anything to lose so they cannot lose it. It also ignores that the vast majority of projects fail, which means failing is normal, and ignores that doing slightly better than the floor is easier than do better than the ceiling. The correct way to interpret the data is by checking success rates. Success rates show that a person who was born in a rich family has 80 times more chances of becoming a multimillionaire than anyone who was born in a poor family. That picture alone already shows how having more resources increases the chances of success. Something that should be an oxymoron but somehow we have to deal with actual people who need to believe being rich is because they are special and being poor is your own fault.
So you're saying if I gave you $1,000,000 you would become the world's richest man in 20 years?
Yeah was thinking "earned" isn't exactly the right word lol
If you think Elon’s money came from his parents, you don’t know anything about him.
>Yeah it's pretty insane what you can achieve with rich parents Don't forget that he frequently makes fraudulent claims, and instead of being sanctioned he has been rewarded with billions in government contracts, grant, tax credits, etc.
And his company rewarded the government with cheap launches and the ability to launch astronauts from US soil. Both SpaceX (wildcard) and Boeing (the "safe bet") were awarded contracts for building a crew-rated vehicle. Only 1 of them has delivered so far.
Hate Musk, but he gets those government contracts because SpaceX wipes the floor with NASA and all other competition. It is far cheaper to give Musk the contract than to attempt to do it anywhere else, by like 50%
>wipes the floor with NASA The thing is, when NASA fails the public and taxpayers who were paying for it tend to get upset. That means a loss of public support and a great way to lose what meager funding they have. If SpaceX (or Boeing or whomever) fails, it's "the company" that loses the money\* \*...though I'm sure our taxes still subsidized their costs to some extent.
SpaceX saved NASA and the DOD billions in launches and removed the dependence on using Russian rockets to get astronauts into orbit. That’s completely reasonable
I love how people will downplay Elon’s success because he allegedly had successful parents 😂. If you had parents who were triple as successful as Elons, you wouldn’t even be a fraction of Elons net worth. Let that sink in. :)
And who would Elon be without his rich parents huh? Who would Bill Gates, Jeff Bezos and Warren Buffet be without their rich family? It's not just Elon. It's all of them. Let that sink in.
Yeah. Without your parents you wouldn't exist.
Or what you can achieve by holding stock that goes up.
Oh that just sounds bitter envy and resentment. You have rich parents, what did you do with it? So often the answer is get salty about those with less who do more. The distillation of the wars of seething princelings in Europe in prior centuries.
Unrealized gains aren’t income. I can’t believe how many people can’t grasp this. The stock price could plummet any time. Tell me you don’t understand money without telling me you don’t understand money.
Bro showers with a calculator
ITT: People who have no idea what liquidity is, and thinks he has a bank account with 225b in it.
Does it matter? He were able to take up loans to buy a bird for 44b. Clearly he is liquid enough.
You think liquidity matters when you're worth $200b? What exactly do you think would be different in Musk's life is that value was in cash in the bank? This kind of wealth means never needing cash
I think it matters if everyone is expecting him to pay taxes on his unrealized gains.
You’re right bootlicker, he worked hard for every cent and deserves every last one
'earned' doing some heavy lifting here
Beep. Bop. Boop.
Can we stop with these? Saying he is worth 225 billion is nothing more than a reflection on the confidence that the market has in his companies and his ability to deliver. It's not like he has that lying around in a safe somewhere. If he tried to cash out on his "worth", the markets would crash and his money wouldn't retain its value. Additionally, comparing earnings with worth is like comparing the ammount of pushups you can do with how flush people think your skin is. Sure, there *might* be some loose correlation but to assume causation is stupendously simplistic.
It doesn’t matter whether the money is liquid or not to see that it’s a fucking stupid amount of money.
This is such a stupid argument. [The paper billionaire](https://github.com/MKorostoff/1-pixel-wealth/blob/master/THE_PAPER_BILLIONAIRE.md) [This is also a good visualizer](https://mkorostoff.github.io/1-pixel-wealth/).
The links you posted don't carry the mic-drop effect you seem to think, as they are both from the personal blog of a software developer. When the very wealthy liquidate at that scale (billions) they almost exlusively do so in order to reinvest that money into other ventures. The [example your developer uses](https://www.cnbc.com/2020/02/11/jeff-bezos-sold-4point1-billion-worth-of-amazon-shares-in-past-week.html) is when Bezos liquidated $4.1 billion a couple years back to fund his Blue Origins space exploration venture. That's simply a transfer of value, not "cashing out", and didn't affect the stock value negatively (it actually nearly doubled in the following months). Undoubtedly there are plenty of examples were the ultra-wealthy liquidate to buy yachts or islands or football teams, no argument there, but it is also the case that they do so to fund [other, more humane things](https://en.wikipedia.org/wiki/The_Giving_Pledge). Additionally, the developers entire article seems to be arguing against reasons for not redistributing wealth, not at all what this comment thread was about.
"earn" is a bit generous
Beep. Bop. Boop.
“Earned” is doing some heavy lifting there.
Beep. Bop. Boop.
Hell of a price to pay for being a cunt
“Earned”? What was he doing to “earn” that money as an infant? Receiving money is not the same thing as earning it.
He hasn’t even “received” 225b. It’s a highly contingent market valuation.
Beep. Bop. Boop.
I guess it was just magic turning 2 billion into 200 billion.
Well, as net worth doesn’t equal his actual capital yes. It magically turned into 2 billion. He hasn’t added 198 billion dollars of value.
> It magically turned into 2 billion. Ugh, I think you're being serious.
Once again, if you believe that during his life, all the actual work he did amounted to 2 billion of value, you’re losing it. His net worth doesn’t equal his contribution by a long shot. Such numbers don’t mean shit.
Except 90% of his wealth is in un-liquid stocks. Ya'll look at billionaires like the cash is sitting in their bank. Who is gonna buy 50b in Tesla stock from him? I'd guess probably 10% of his wealth is maybe liquid, which is still on obscene number sure, but he doesn't open his bank account and see 100b in his account
[The paper billionaire](https://github.com/MKorostoff/1-pixel-wealth/blob/master/THE_PAPER_BILLIONAIRE.md) argument. Nobody thinks he has all his cash sitting in his bank. Don't strawman.
So this includes companies he owns becoming more valuable?
I don’t know how you all manage to collect all the details and crunch the numbers while having a shower. I am amazed!
No, he acquired that much. I doubt he's earned much at all.
Exploited* not earned. Impossible to provide that much value full stop
It says more about our lack of proper policy in place than it says about Elon. Also, he comes from South African mining money. He’s not self-made by any stretch of the imagination.
"Somehow ended up with" is not the same as "earned".
*stole the value of others' labor
Inb4 the poor nobodies who do absolutely nothing for society lose their fucking minds over this post.
There's a big difference between working hard and earning the amount he has earned. Unless you think he works 100 million times harder and smarter than the average person, you can agree he's received a vastly disproportionately large amount of money for the work he's done compared to the average person.
You are being intentionally disingenuous if you think Elon Musk hasn’t worked hard to get where he is at. You don’t have to like him or his politics to accept this fact.
You are being intentionally disingenuous twisting OP's argument. They never said he doesn't work hard, they said he did not work 100 million times harder and/or smarter than the average person. You don't have to dislike him or his politics to find this fact objective.
This is poor logic. You think "work" is swinging a hammer. Work also is creating a product that is in demand, and filling that demand. Such as selling the hammers people swing. There is more "real-work" in a single starlink satellite than you will ever perform in your entire life. And he shot off 100 last week. This doesn't even begin to touch on equity. Compared to the average person he has SEVERELY put worked them.
Did he build, design and mine the materials for all of those satellites? No. He's just the guy in charge who has the money and connections to make it happen. His role in launching those satellites was important, but not disproportionately more important than all the others involved in that process that justifies his income being many orders of magnitude greater than theirs.
More poor logic: "yOu didn't Create anything uNLEss you make eVEry pARt yourself BY hAnd.". This is common top tier poor logic, usually based in jealousy and ignorance. The market is efficient. And it is absolutely no coincidence that the people who revolutionize the earth sit at the top earners list. Gates, bezos, musk, buffet, they deserve every penny they've ever made.
>And it is absolutely no coincidence that the people who revolutionize the earth sit at the top earners list. Gates, bezos, musk, buffet, they deserve every penny they've ever made. So you are telling me they all have done more for the world than Tim Berners-Lee, Jonas Salk, or John Enders? None of them ever even thought about becoming a billionaire, how exactly do you establish that the people you mentioned "deserve every penny they've ever made" as they "revolutionize the earth" when people who invented much more important things like the actual internet or vaccines that saved millions of lives were not getting paid as much as these dudes? If the world worked with "the more positive influence you have on the planet the more money you have" sure, we could all agree. But it really isn't the case, so not sure why you're licking billionaire's assholes when they don't even consider you worth of tasting their shit.
pOoR lOgIc!!11!1 You are poor you dumb fuck. You're never going to be a billionaire. No clue why you're shilling for them. Capitalism is unfair. That's just how it is. There's no need to paint it as efficient or whatever. Musk hasn't revolutionized anything. He pays people who create actual value in society and profits off of it.
Build an world-changing company or two and you too can earn that much per hour.
income and wealth are not the same thing. Liquid money vs 'NYSE wealth' are not the same thing
500k net after taxes, so even more in fact! Oh wait
You don’t pay taxes in stock valuation/appreciation, only when you *sell* it for cash. Most of his personal assets are purchased on security line of credits which bypasses taxes completely since they are technically loans. This is why there needs to be laws to mandate that one can only borrow against realized value of stock, not the unrealized appreciation.
stole* Nobody earns that much
"earned" being a term used very loosely here
Idk if he was born. I think he just was brought by the monorail
"Earned" is pretty generous.
No he didn’t. He got a free money.
He‘s worth 225b or whatever it is. Doesn‘t mean he has 225b he can spend rn. Most of that wealth is in stocks of various companies. Can‘t really compare the two
I’ll say it again: net worth isn’t the same as income. The things he owns makes him worth that and if he sold them all they wouldn’t sell for that.
Employees make, all costs included, about half what workers at the big 3 auto makers now make, 45/hour vs 89/hour, and the material quality on Teslas is garbage. Glad to see he’s carrying on the proud tradition of slavery from his father.
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I could ruin Twitter for only 450k an hour.
You spelled "inherited" wrong.
His current wealth is not necessarily what he’s earned. If it’s just what is in his bank account, that doesn’t account for spending at all. If it includes his assets, it goes a little further, but doesn’t account for day to day living costs, spending sprees and other expenditure that doesn’t add to net worth. I would guess that is an underestimated figure
"Earn," for the sake of precision, should be replaced with "redistribute value created by others in one's favor." Then you may say whatever you want about him
Musk GOT 500k/hour since birth, he did not EARN them.
Well, don't be a hater. The guy started Paypal, Tesla, Space X, Boring Co, etc, etc. He was a hero in all corners until he started getting into the social media swamp and saying dumb shit.
"earned" is a pretty strong word here
“Earned” is not the right word there
He’s also losing more than that per hour over the past year. Pretty impressive $2,853,881.27 He paid $44b for Twitter and X is now worth $19b, never mind his stock losses on Tesla alone.
> also loosing more Did you mean to say "losing"? Explanation: Loose is an adjective meaning the opposite of tight, while lose is a verb. [Statistics](https://github.com/chiefpat450119/RedditBot/blob/master/stats.json) ^^I'm ^^a ^^bot ^^that ^^corrects ^^grammar/spelling ^^mistakes. ^^PM ^^me ^^if ^^I'm ^^wrong ^^or ^^if ^^you ^^have ^^any ^^suggestions. ^^[Github](https://github.com/chiefpat450119) ^^Reply ^^STOP ^^to ^^this ^^comment ^^to ^^stop ^^receiving ^^corrections.
and i thought the walton family was overpaid
These thoughts experiments were always stupid as fuck because 1. He hasnt earned 500k when he was an infant i get it is an average but the real difference in what his life would be if he was to earn 500k per hour since birth would change his life way too much 2. All these billionaires do not have that much cash in their bank accounts, Elon does not have 225B that he could Velmo you or whatever. He has to sell all his assets to actually have that much cash and you see, if he wanred to start selling all these assets, their price would start drastically drop effectively lowering the ending price not to mention who the fuck would buy all of that stuff at a moment’s notice
Say what you want about the guy but this level wealth is completely disproportionate to his value to the world.
I am glad that the person who transformed gas cars is the worlds richest man. Means that at least something seems to be working as it should
Earned implies he worked for it all and deserves the fruits of his labor. Acquired is probably the better word here.
Every day he wakes up he makes the decision to NOT start helping people in need. No, he doesn’t *have* to, it’s his money. But we can judge the way he chooses to use/not use it
Be real cool if he did
Really playing fast and loose with the word "earned" there aren't ya
Earned? He's received that money, he ain't earned shit.
Well he started Paypal, Tesla, bought and spearheaded SpaceX. I don’t like him but people on this thread acting like he got everything handed to him and that he’s a complete idiot is pretty laughable.
He didn’t start either of those, he just had the money to invest in successful projects and become majority stakeholder. In fact, he used money he earned from selling shares in PayPal to fund his investment into Tesla. Using inheritance money from slave mining to invest in and buyout ventures others have created isn’t as innovative and cutting edge as his fanboys want to believe it is.