Religion and Ethics Forum

General Category => Politics & Current Affairs => Topic started by: Nearly Sane on January 07, 2021, 05:34:11 PM

Title: Elon Musk becomes world's richest person as wealth tops $185bn
Post by: Nearly Sane on January 07, 2021, 05:34:11 PM
This baffles me. The increase in Bezos's wealth over the last year is understandable but Musk's increase seems overly exuberant.


https://www.bbc.co.uk/news/technology-55578403
Title: Re: Elon Musk becomes world's richest person as wealth tops $185bn
Post by: ad_orientem on January 07, 2021, 07:44:48 PM
He can spare me a couple of billion then, can't he. Maybe I should send him an email pleading my case.
Title: Re: Elon Musk becomes world's richest person as wealth tops $185bn
Post by: jeremyp on January 08, 2021, 01:51:05 PM
Quote from: Nearly Sane on January 07, 2021, 05:34:11 PM
This baffles me. The increase in Bezos's wealth over the last year is understandable but Musk's increase seems overly exuberant.


https://www.bbc.co.uk/news/technology-55578403

It's because Tesla is massively overvalued at the moment and lots of Musk's wealth is tied up in Tesla shares.
Title: Re: Elon Musk becomes world's richest person as wealth tops $185bn
Post by: jeremyp on January 08, 2021, 01:54:28 PM
Quote from: ad_orientem on January 07, 2021, 07:44:48 PM
He can spare me a couple of billion then, can't he. Maybe I should send him an email pleading my case.

He could give everybody on Earth $26 or find the poorest one million people on Earth and give them all $185,000.

Except he couldn't because a lot of his wealth isn't liquid.
Title: Re: Elon Musk becomes world's richest person as wealth tops $185bn
Post by: Nearly Sane on January 08, 2021, 01:57:20 PM
Quote from: jeremyp on January 08, 2021, 01:51:05 PM
It's because Tesla is massively overvalued at the moment and lots of Musk's wealth is tied up in Tesla shares.
Yes, I know that. It's the massive overvaluing that I find baffling.
Title: Re: Elon Musk becomes world's richest person as wealth tops $185bn
Post by: jeremyp on January 08, 2021, 05:16:32 PM
Quote from: Nearly Sane on January 08, 2021, 01:57:20 PM
Yes, I know that. It's the massive overvaluing that I find baffling.

People have been convinced that Tesla is going to be hugely profitable in the future which I suppose it might be. Personally, I'm sceptical.

Musk himself is a snake oil salesman IMO.
Title: Re: Elon Musk becomes world's richest person as wealth tops $185bn
Post by: Nearly Sane on January 08, 2021, 05:19:37 PM
Quote from: jeremyp on January 08, 2021, 05:16:32 PM
People have been convinced that Tesla is going to be hugely profitable in the future which I suppose it might be. Personally, I'm sceptical.

Musk himself is a snake oil salesman IMO.
Completely with you. Now many years ago it might be argued that the same once applied to Bezos...