this post was submitted on 27 May 2026
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This isn't true. You have less wealth than billionaire, but you have more money.
Wealth isn't cash. And for elon he is only worth that much because we want to invest in his companies. The 2nd we don't, or he leaves or his companies fall he's bankrupt. He owes 50 billion in loans and is Tesla stock went from 350 p/e to 30 he would be broke without a single dollar moving.
I hate the conversation around this and the absolute worship they get from the media.
They have no money just stock, but they use that stock to get loans so they can have tons of money. Depending on how people want to defend them they're either loaded because they deserve it or poor and shouldn't be taxed because they can't liquidate or they'd kill the company...
It can have adverse side effects on the market and the company, but I'm reality the cost will just be passed down to the customer. The taxes will just be included in the compensation package. The money has to come from somewhere, and is is not from the open market (aka your 401k buying the stocks) it will come from the companies revenue as part is the package. It won't actually get anything off value extracted from the billionaire because we might get added tax revenue, at the cost of 401k growth, or it pops bubbles causing the wealth the vapirize when trying to realize money. Best case is we get more tax revenue at the cost of increased goods cost.
In the colloquial sense of "money", it's true. If I'm asked me how much money I have saved, I'm not going to say $0 because I don't keep cash lying around. I give the value of all of my investments (alternatively, "none of your business").