/u/Goatknyght All you need to do is make a company
Sell a 0.000001% share of that company for 15 dollars
Now you are a bajilionare |
/u/MrSteel1 You would still be poorer only $1.5T |
/u/Fast-Score2439 No that is 1.5 billion. X = market cap 0.000001% of X =
$15 X = 15/0.000001% X = 1.5 billion Put 3 more zeros
friend |
/u/Instance9279 I will hate it even harder ! |
/u/Nanoro615 Redditors to lovers plotline... |
/u/Wheredapassion Makes me want to add 4 more zeros and sell a share for
$1.5 |
/u/Economy_Professor637 The YouTuber Max Fosh did this once. Was the richest
person in his country for a few minutes before getting
an "ahahaha very funny and creative now take it down
before you get arrested for fraud" |
/u/mushychimpfoxtrot Crazy that Max was threatened with fraud but this SpaceX
charade is allowed to go on |
/u/AwesomeFrisbee Its because its only fraud if you are poor |
/u/Entchenkrawatte Same for the GameStop stock situation a few years ago
lol. Fraud if the reddit people do it, but fair game for
the large hedge fonds |
/u/Josey_whalez Ya in a sane world, the fact that there were more shares
sold short than the entire float (IIRC) wasn't the
issue, it was internet randos taking "colluding" to
basically wipe out a hedge fund or two....who had
colluded to short a struggling company out of existence. |
/u/Beautiful_Hunt1095 That could only happen because it is somehow allowed to
short more of a stock than exists. |
/u/realqmaster Laws don't apply to the rich, duh |
/u/BigBadDogLol They lobby the guys who write them so of course they use
the loophole they had established. Duh der |
/u/thankyouihateit I keep thinking about theranos and nikola, and i wonder
how their promises were different from elons. I think
they were charged with misleading/fraud because they
attempted to substantiate their claims? While elon jusy
says things? I honestly don't fully know how one is fine
and the other isn't |
/u/EverIce_UA SpaceX revenue totalled at ~$18 billion, and an
aerospace company trading at such R/P ratio is just
crazy. The reason for such a hype is, well, hype.
Investors think it's a safe bet, others were sure that
people will invest heavily and want to jump on this
train to make some money. None of the fundamentials
suggest such a price, the initial IPO evaluation of
$135/share was already nonsensical, and was boosted
further by hype. Also keep in mind that only 5% of the
shares are traded publicly now, so the whole company is
valued according to the price of only 5% of the company.
The aforementioned youtuber and his experiment with
selling a single share of an empty company for £50 is
the exact same situation we have here.
In conclusion, Musk's assets maybe valued at even $10
trillion, but I'd like to see him try to liquidate (sell
for actual money) it for the full price (he won't be
able to do so) |
/u/The_Old_Chap But thats not the point. None of them will liquidate,
thats not how they get the money. You just get a loan
and put stocks as collateral. Having a trillion dollar
company was never about the possibility of cashing out |
/u/h3lium-balloon You know you have to make payments on those loans, at
minimum the interest, right?
Musk actually has cashed out about $40B over the last 5
years.
I don't support any of this, but I think people have an
oversimplified view of how all of it works. |
/u/Important-Guitar8524 Its a meme stock but it's not fraud |
/u/TomCormack It is. It made its name as a space related company, and
was pretty succesful at it. Then suddenly hiddenly
switched to AI, and made AI the legal coreof the IPO.
They switched to AI after Musk forced SpaceX to acquire
unprofitable Twitter and xAI. Both are just draining
money from SpaceX' rocket and Sitelinks parts of the
business.
Also there is some shady stuff happening with the
criterias for IPO. For example NASDAQ changed their own
regulations specifically for SpaceX. And so many people
will automatically buy SpaceX whether they want it or
not.
It is a big scam. Musk made a healthy niche company
into a Frankenstein monster and then ordinary people
will pay for Musk's and his friends' cash out. |
/u/Spiritual-Spend8187 Got to privatise profits publicise loses. It was all
about getting some one to hold the bag and this time
they are forcing you to hold the bag. |
/u/fang_xianfu None of that is actually hidden though, they were
relatively transparent about this, it just turned out
not to matter for the hypebeasts who are buying it.
Also regarding Musk's "$1T revenue by 2030" statement
recently - let's not forget that he is banned from
making statements like this about Tesla due to a
settlement he made with the SEC for violating their
rules about disclosures - if he had been prosecuted
instead of settling, one of the potential punishments
was being permanently banned from being a CEO. |
/u/grandramble I used to think the one thing Musk might actually prize
higher more than money was space travel, but it turns
out the robot who will tell you whatever you want to
hear is even higher on the list |
/u/NeitherShine7067 Nicely summed up. Paul Krugman had a detailed write up
basically saying the same thing.
https://paulkrugman.substack.com/p/elon-musk-human-ponz
i-scheme |
/u/MrHyperion_ The rocket tech is very real but the market value is
not. |
/u/fang_xianfu The rocket division is also not profitable according to
the prospectus, which is pretty mind blowing. The only
division that makes money is starlink. |
/u/PeachScary413 It's only fraud if your are poor 🤌 |
/u/Adventurous-Bottle90 This is unironically what happened |
/u/PintsOfGuinness_ Tell me where to send my 15 dollars so I can be friends
with a bajillionaire |
/u/Boosted_JP If Musk suddenly lost 99,9% of his current wealth, he
would still be... a billionaire. |
/u/Paryln No, what's a crazy fact is that if you earned a dollar a
second, it would take you 32 years to make one billion
dollars. A trillion is 1,000 times more. How much would
you have to be making a second to make that amount in
four days? |
/u/AggressiveSpatula A little under 3 million per second by my math
It's crazy to think he's working *that* much harder
than the average American. What a true hero of the
people. |
/u/ChocolateHumunculous And he is currently worth 1.4 trillion, so it's way more
than that, still! |
/u/Jonthrei Monetary compensation hasn't been related to how hard
you work since, well, ever.
EDIT: If you think I'm defending that clown, you're
dead wrong. I'm pointing out the system has always been
arbitrary. |
/u/sadmanwithabox 1000%. I'm out here doing hard, skilled labor that not
everyone can do and im barely surviving. Part of that is
me working for a shit company, but im doing my best to
change that.
Meanwhile I have friends who spend half their day on
MMOs while "working from home", doing about 2-3 hours of
actual work a day, and getting paid more than I do at
the same time. |
/u/Total_Mix9276 Skilled labor pays more, just need to cut out the 18
middle-men to make good money. |
/u/LazerKittenz There are 345,600 seconds in 4 days.
To make one trillion dollars in that time, you would
need to be generating ~$2,893,518.52 per **second** |
/u/JuggrnautFTW If you won a $5 million lottery every day for the next
525 years, you still wouldn't have as much as Musk. |
/u/AnimeHairedMuthafuka How about this for an absurd comparison?
In order to make a trillion dollars (in revenue, which
obviously isn't her direct earnings as there are
significant production costs to consider), Taylor Swift
would have had to extend the Eras Tour for an additional
865 years and nine months, finishing up (assuming she
hadn't stopped in December 2024) on September 9, 2890. |
/u/Forward_Rope_5598 1 million seconds is a week and a half
1 billion seconds is over 30 years
1 trillion seconds is over 30 THOUSAND years
It's really mind boggling numbers and people are
somehow still defending it. |
/u/DenizSaintJuke 16 minutes are ~a thousand seconds
~12 days are 1 million seconds
~32 years are 1 billion seconds
~32.000 years are ~trillion seconds
If one second was a dollar, most people would own
minutes, maybe hours. Millionaires would own weeks or
even months. The richest person alive in 2000, Bill
Gates at that point, would have owned nearly 2000 years
(60 billion). The previous year 1999, he was esrimated
at 90 billion (~2900 years, aka starting from 900 b.C.
Roughly around that time, the ancient greeks thought
their legendary heroes lived. Achilles, Hercules etc.)
if you made 1$ a second), which I think would have made
him the richest person in human history at that point.
It took until 2018 that Jeff Bezos cracked that record
with $112 bn (~3600 years, 1600 b.C. At that point our
records get kind of spotty, that's ancient Egypt, the
old Babylonian Empire was in its hayday).
Elon Musk, less than 10 years later, clocks in with
over 32.000 years. Thirty-two thousand years. That's
kilometers deep glaciers covering the northern
latitudes, while our human ancestors roam around hunting
mammoths with stone tools. Mammoths would still be
around for more than 20.000 years.
Now you have a scale to grasp how goddamn absurd this
is. Your bank balance compares to Elon Musk like a few
minutes to a few hours compare to the entire time since
the paleolitic in the middle of the last ice age. The
other billionaires compare like the few minutes or hours
to all the time since the first babylonian empire was
established. And 90% of that lead was covered just in
the past 10 years.
This is not a sane state of the world. |
/u/JosshhyJ Reminds me of the movie, In Time. Where time is currency
instead of money, meaning the poor/average have to work
to ensure their time doesn't hit zero (else they die)
while the rich are basically immortal. |
/u/AmeliaGigglesaurus 1 Trillion is like 32,000 years in secods... For
reference, humans were still hunter/gatherers 32,000
years ago... |
/u/rydan Here I am averaging $1 barely every 20 seconds. |
/u/_winterFOSS You're doing pretty good at $180/hr, and you make
$374,400/yr, placing you in the top 3% of US earners. |
/u/grchelp2018 Here's another fact, you are closer in wealth to the
second richest person in the world than the second
richest person in the world is to Musk. |
/u/TheDebateMatters If Musk suddenly lost 30% of his wealth, the American
tax payer would bail out his business as he is too big
to fail. |
/u/round-earth-theory No he's not. The only company that would create a shock
is SpaceX. Evening else could crash tomorrow and the
world would move on. The Tesla supercharger network
would be the most impactful to daily life. There's
nothing else that we really need as a society from him
and neither of those need the ridiculous sums listed.
Yes I know, the investor class. The fucking morons and
grifters that have created a situation where we trade a
stock like crypto. Yes that'll suck but it's a better
suck to let it crash and move on. We don't actually need
him or the fake value. |
/u/cross_the_threshold There's too much wealth chasing nothing of value, the
"economy" is basically just wealthy people trying to
figure out who holds the bag when the economy resets to
a value based baseline. Like if Elon tried to sell
SpaceX tomorrow no one would be lining up to pay 2.5
trillion or whatever it's "worth" at the time of this
comment, it's not actual real value. They're all just
buying the hype in the hopes they can profit until
something fails.
Usually you'd want an economy like this to invest in,
y'know, actual businesses and startups trying to
generate value or capital, but because nothing means
anything anymore and god is dead they're all happy to
throw hundreds of billions at the most laughably awful
SEC filing in history because what the fuck else are
they going to do with all that money. |
/u/tardoos Do you really think "too big to fail" ever referred to
actual use to society?
It was always about investors. |
/u/cuntmong what if he lost 99.9% of his blood |
/u/DantifA He'd be a libertarian goth |
/u/sweetdawg99 Only one way to find out |
/u/FuriousWierdo00 https://giphy.com/gifs/QC7UQbxq89MnL9r6AN |
/u/MiceAreTiny I don't know. But, I am more of an experimental
scientist. |
/u/melanthius He'd still have more than a billion blood cells |
/u/iravu_R who needs a society when youre a trillionare? ive heard
enough. 1 more trillion to musk |
/u/Lostwhispers05 The difference between a trillion and a billion is about
a trillion. |
/u/AliceCode His net worth is approximately one trillion more than
the next wealthiest person. |
/u/Stranger-Tingzz Steps to becoming a trillionaire:
- Stop buying $9 Starbucks coffees
- Stop going out to eat
- Find 1g of antimatter |
/u/Dimensionalanxiety Important caveat, find 1g of antimatter AND effectively
contain it enough to be safely sold. 1g of antimatter
annihilating with matter has the energy yield of a small
nuclear bomb. |
/u/Eros_Incident_Denier Enough to blow up the Vatican? |
/u/Long_Plan_1736 Wasn't that thr plot of a da Vinci code ? |
/u/Percival_Dickenbutts [The critics said his writing was clumsy, ungrammatical,
repetitive and
repetitive.](https://onehundredpages.wordpress.com/2013/
06/12/dont-make-fun-of-renowned-dan-brown/) |
/u/manrata But also repetitive. |
/u/FearoftheDomoKun Oh god thank you for reminding me of this, so good |
/u/jlreyess That was the joke but it was Angels and Demons, close
enough |
/u/heyitscory Yeah, I assumed threatening people with my antimatter
bomb was how we were getting the trillion dollars. |
/u/Speartree https://giphy.com/gifs/BZlNhp9L5WINi |
/u/YourPhrenologist Damn, I had already began searching under the bed, I'm
pretty sure I had one of those laying around. |
/u/Shadowlance23 Instructions unclear. This plan blew up in my face. |
/u/Garchompisbestboi Create an IPO for your shitty government funded space
company where you only release 5% of the company's
shares onto the market.
Wait for a bunch of self proclaimed "apes" to fight
over that 5% and drive the share price up due to
artificial scarcity and fear of missing out
Claim you are a trillionaire because you kept 95% of
the company to yourself and base the value of the shares
you kept off of the value of the ones on the market.
Congratulations, you're now a trillionaire. Just don't
ever sell any of that leftover 95% or the share value
will tank and you probably won't be a trillionaire
anymore. |
/u/RichardFeynman01100 Well that's only the first half of it. The next step of
the plan is to dump it on the public and 401k through
the Nasdaq. Nobody would buy it at the current price if
it went actually public (since when is 5% an IPO
anyway?). But passive index funds have to buy anything
at the Nasdaq at the price it's at. And they changed the
rules so it can be part of it after only 15 days,
instead of the year it used to take. |
/u/No_Mercy_4_Potatoes Or in Elon's case, lie through your teeth and make
unrealistic promises to investors to pump up your share
price. |
/u/cremaglitch and don't forget those damn lattes |
/u/cremaglitch you have a good taste too |
/u/MAUROKE01 https://giphy.com/gifs/djdyvnKHZEpwLAo4Qa |
/u/Whhatsmyageagain And rotisserie chickens. Might have canceled "The
Netflix" too. |
/u/m3ss1a4 Tbf Netflix really dont deserve my money. All shit
films. |
/u/Inside-Example-7010 you gotta get up early in the morning. Thats the main
difference. If you can wake up at 5am every day you are
90% of the way there to a trillion dollars. |
/u/notmentallyillanymor You gotta do better than 5 am. I know because I get up
at 12:01 am. It's the first minute of the day, making me
the earliest worm. |
/u/Illustrious-Water877 At that rate he's got the GDP of the observable universe
sooner |
/u/QTown2pt-o There is something much more shattering than inflation,
however, and that is the mass of floating money whirling
about the Earth in an orbital rondo. Money is now the
only genuine artificial satellite. A pure artifact, it
enjoys a truly astral mobility; and it is
instantaneously convertible. Money has now found its
proper place, a place far more wondrous than the stock
exchange: the orbit in which it rises and sets like some
artificial sun...
Speculation is not surplus-value, it is a sort of
ecstasy of value, utterly detached from production and
its real conditions: a pure, empty form, the purged form
of value operating on nothing but its own revolving
motion, its own orbital circulation. The
self-destabilization of Political Economy is thus what
puts paid, in monstrous and somehow ironic fashion, to
all possible alternatives. What possible riposte could
there be to such extravagance, which effectively co-opts
the energy of poker, of potlatch, of the 'accursed
share', and in a way opens the door to Political
Economy's aesthetic and delusional stage? This
unexpected demise, this phase transition, this wild bull
market, is fundamentally far more original than all our
old political utopias. |
/u/Lego_Nabii "Whole new theories of money were growing here like
mushrooms: in the dark and based on bullshit." ― Terry
Pratchett, Making Money |
/u/Acceptable-Trainer15 Jeff Bezos ($250b) is now closer in wealth to the
average slum dweller, than to Elon Musk. Let that sink
in. |
/u/i_dunt_no_hao_2_spel You could double Bezos' wealth and this would still be
true.
Larry Page currently has the second highest net worth
in the world. You could add his and Bezos' net worth
together, then double it, and the difference between
Elon Musk's net worth and that number is about equal to
Page's worth |
/u/KJPicard24 It basically means nothing at this stage really, 1
trillion, 2, 50. It's just made up speculative
valuations all aggregated together, there is no way he
can ever really do anything materially different with it
than Bezos or Page etc. The second he actually tries to
'realise' any of that trillion pile, it'll disintegrate
under the weight of reality of actually cashing it in at
that value.
Someone said the other week, it's like a very official
document or treaty declaring him the owner of a known
asteroid speculated to be full of gold. He's now a
multi-quadrillionaire, because that's what it's worth,
right now, on paper. |
/u/logicalconflict Do you see now how great the economy is doing and how
inflation doesn't matter? Just look at how much money
*we're* making! Trillions! We are so great again. |
/u/pnkxz -German factory worker, 1923 |
/u/Lasagna-Gaming I mean, wouldn't they technically be the first
trillionaires? |
/u/Koviera Only American dollars matter don't ya know /s |
/u/SemajLu_The_crusader it's easy to make money when it ain't real |
/u/uncertain_expert This SpaceX IPO has more in common with Musk releasing
his own meme coin than a traditional share sale. He's
released 4% of the total number of coins whilst
retaining 40% himself. |
/u/LoaKonran It's entirely based on some future hypothetical profit
outcome that is already incompatible with present
reality. None of it is real, but because people are
allowing him to declare it real, he gets to act like it
is and make it real. |
/u/Rainhailsnow_storm He does believe we are living in a matrix. Maybe he
knows something we don't. |
/u/dansdata He does believe we are living in a matrix.
When we clearly aren't. |
/u/FluffySquirrell All that proves is that he's not in the first, perfect
matrix, that humans apparently couldn't accept
Maybe Musk betrayed his entire team to the machines and
got re-inserted, and got to be a rich and famous
asshole! |
/u/der-maulaff And he choses to bei a real life griefer, which
destroyes the fun for everyone else. |
/u/Dweebler7724 It's my perspective that he probably wouldn't be a
trillionaire if he wasn't also a POS and a loser |
/u/inTsukiShinmatsu Compounding isn't this fast |
/u/TheRedLions And stocks don't pay compound interest. It feels like
people keep assuming this is money in his bank account |