Kinda… depends on how things got him there. The thing Elon can’t lose without really going off the rails is his ability to play the markets. Once the SEC kicks him out you’ll see him legitimately calling for open revolt.
Removing his ability to play stocks at all is removing his ability to earn money. His investors will leave him and the interest on his loans will liquidate him. We’ve seen more than a few of his type flash up and fade away. Milken. Pickens. Belfort. And of course, Madoff. Just to name a few we know by a single name.
He would still be wealthier than 99.99% of people but then so are a lot of folks on the planet. That’s 80 million people left over in that .01%. That’s not all that powerful at all. It’s removing him from the .00001% thats the goal. And killing his stock market abilities would do that over-night. It’s why he bought Twitter, he had to because this was the alternative.
I don’t think I’m following. Your example of Michael Milken is odd since he’s estimated to have between $5 to $10 billion in net worth today. Which kind of goes to my point that Musk is less likely to be in financial distress than win the Powerball Jackpot
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !technology@beehaw.org
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Kinda… depends on how things got him there. The thing Elon can’t lose without really going off the rails is his ability to play the markets. Once the SEC kicks him out you’ll see him legitimately calling for open revolt.
That wouldn’t put him in financial distress. His ego would certainly be hurt but he’d still be wealthier than 99.99% of the world.
Removing his ability to play stocks at all is removing his ability to earn money. His investors will leave him and the interest on his loans will liquidate him. We’ve seen more than a few of his type flash up and fade away. Milken. Pickens. Belfort. And of course, Madoff. Just to name a few we know by a single name.
He would still be wealthier than 99.99% of people but then so are a lot of folks on the planet. That’s 80 million people left over in that .01%. That’s not all that powerful at all. It’s removing him from the .00001% thats the goal. And killing his stock market abilities would do that over-night. It’s why he bought Twitter, he had to because this was the alternative.
I don’t think I’m following. Your example of Michael Milken is odd since he’s estimated to have between $5 to $10 billion in net worth today. Which kind of goes to my point that Musk is less likely to be in financial distress than win the Powerball Jackpot