Elon Musk becomes first person EVER to be worth more than $300billion thanks to Tesla shares spike - as Microsoft regains title of world's most valuable company after Apple's stock slumped

Daily Mail (UK) ^ | October 29 2021 | Stephen M. Lepore

[SmokingJoe]

Musk's net worth hit $302billion as of Thursday, according to the Bloomberg Billionaires' Index The increase of $10billion was due to a rise in Tesla shares on Thursday after the car firm announced a 100,000 car deal with rental firm Hertz The mogul is now worth over $100billion more than the second-richest person on earth, Amazon founder Jeff Bezos, who's worth sits at $199billion Musk is now worth more than the annual GDP of nations like Egypt, Portugal, the Czech Republic, Greece, Qatar and Finland He's also worth more than the market value of PayPal, the company he co-founded, as well as streaming giant Netflix Musk's worth exceeds the combined Forbes valuation of the Dallas Cowboys, New York Yankees, New York Knicks, Barcelona and Real Madrid ($25.4billion)

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These are the 10 richest people in the world, according to the Bloomberg Billionaires Index.

1. Elon Musk: $302 billion

2. Jeff Bezos: $199 billion

3. Bernard Arnault: $168 billion

4. Bill Gates: $135 billion

5. Larry Page: $129 billion

6. Sergey Brin: $125 billion

7. Mark Zuckerberg: $118 billion

8. Steve Ballmer: $116 billion

9. Larry Ellison: $115 billion

10. Warren Buffet: $105 billion

[SmokingJoe]

What $5 Billion you talking about? Tax subsidies on electric cars were there long before Tesla was even founded. Tesla did NOT invent tax subsidies. The Dem politicians did.
You don't seem to know much about Tesla do you?
First of all Musk was not even there when Tesla was founded by two Silicon Valley guys. Musk was busy starting SpaceX at the time.
Musk came in when Tesla was broke and needed money and the founders came to him for money. Musk put $6 million of his own money into the company and took a seat on the board. Over the years, he pumped nearly all his money into SpaceX and Tesla.

[SmokingJoe]

I think most people could get their dream project out of the red if they were spotted 5 billion dollars to do it.

You gotta actually make and sell the cars before getting any tax subsidies. You don't get sh*t merely posting garbage on web sites. Plus EV tax subsidies were available to Ford, GM etc, why are they still behind?
BTW the Dems are busy passing new laws to bring in even more EV subsidies, so why don't you go out there and make even a billion dollars let alone $300 Billion) if its so easy.

so fuck you,

Same to you.

[bobbo666]

That is the point of the new bill’s provision to “tax the billionaires”. It is against what is called “unrealized earnings”.

Here is how it works now. If your stock rises (e.g., from $100/share to $120/share) and you decide to sell, the increase is taxed as income. OK, you may not like income tax but that is the way the law(s) work. OTOHand, if you don’t sell, nothing happens.
Under the proposed new plan if your stock increases (AT ANY TIME!!) you have to declare the increase as taxable income — even if you don’t sell and realize/takeHome the profit.
Of course, the Congressional parasites will say that for now this will only apply to the nasty billionaires (can’t say millionaires without hurting Bernie). Do you really believe that?
What yah gonna do when your house appreciates? Or, your 401K? Or, your account for your kids college?

This is how the gov’mt will seize control of your private property. Wanna guess which political/economic policy wants that? It was envisioned by a perv called Marx.

[njslim]

Yes and is investing his wealth in SPACE X Waiting for him
to launch STARSHIP soon
If can do that will render every other rocket obsolete
In final designs can lift 150 metric tons (300 00 lbs) into orbit

Is designing ability to refuel STARSHIP in orbit for trips to moon/Mars

In addition his new STARLINK satellite internet service is ready to go live soon

[RetiredArmy]

IS HE GOING TO GIVE UP HIS BILLIONS TO THE POOR WHEN THE GREAT RESET COMES ON BOARD????????

Is he going to SPREAD HIS WEALTH so that you and I can have some of his ill gained money??? Will we become thousands-airs so that we can buy a new electric car, move into an apartment building 45 stories high with 40,000 people crammed into it, walk everywhere in the city because there is no parking in the city and we must SAVE ELECTRICITY because we are short of it because we no longer can use nuke power, coal power and all those solar windmills are frozen up in minus-35 degree weather?? Is he going to take his kids out of private school? Is he going to share his home with four or five dozen people like Omar Shariff had to do in Dr. Zhivago (did I spell that correctly? I don't speak Russkee!!) Our Walmart already looks like a Soviet Russia era food store with all the empty shelves. Plenty of CRAP FROM RED CHINA, but you cannot eat that cheap crap that Amerikans purchase TO FUND THE RED CHINESE ARMY, NAVY, AIRFORCE AND COMMUNIST PARTY LEADERS' BANK ACCOUNT!!!!) Note to Americans: QUIT buying that crap from Red China!! Do you really NEED that cheap piece of crap that will break if handle it more than three times, and will be in the Rental Storage places where you store all that cheap Red Chinese crap that you will probably never see again until you try to dump it at some yard sale for $1.00!! STOP FUNDING THE RED CHINESE MILITARY!!!)

To answer my very first question above myself. Nope. He won't give up a dime. Just like Biden, he won't give a dime to anyone. He ONLY WANTS MORE for himself and his communist clan.

[Rio]

[SmokingJoe]

Well it’s his money, he worked 19 hour days for decades to make it, he can do what he likes with it.
How would you like it if some stranger came round and tried to order you as to how you can spend your money?

[Jet Jaguar]

I’d buy the shirt.

[SmokingJoe]

Let’s hope he actually does it.

[Pearls Before Swine]

I'm afraid that under current fiscal and monetary policies, I--and indeed everyone else--will soon be worth $300 billion.

When I was quite young, I looked at the German stamps in my grandfather's stamp collection. I didn't understand why they had so many zeroes on them. My father wasn't real helpful, either. He just passed it off as "one of those things" that different countries have monetary denominations that yield big or small numbers in valuation. He could have taught me an early lesson in economics.

[SmokingJoe]

I'm afraid that under current fiscal and monetary policies, I—and indeed everyone else—will soon be worth $300 billion.

You wish.
Not gonna happen though.

[KobraKai]

Ok so I see, if one doesn’t ‘invent’ stuff, then shut up. I get it, I guess living the actual American Dream of working your whole life, owning a home, being married and low debts is just piker shit. I need to admire and worship Elon Musk, who makes products that the vast majority of Americans will never realize in their daily lives, and products that are horribly pollutant to the Earth, far more pollutant than the Fossil Fuels that they are replacing.

Oh, and he built a rocketship, that Average Joe is supposed to go ‘WOW’ at, and then what? You’re absolutely right, I never invented a damn thing, but I didn’t TAKE either. That used to be a virtue, now it’s ‘LEFTIST’ to not leech.

[SmokingJoe]

Ok so I see, if one doesn't ‘invent’ stuff, then shut up

You said that. I didn't.

I guess living the actual American Dream of working your whole life, owning a home, being married and low debts is just piker shit.

Again you said that, not me.
Not to mention Musk has done all that and more.
Plus he came in from South Africa with nothing and achieved all that.

I need to admire and worship Elon Musk,

Says you, not me.

who makes products that the vast majority of Americans will never realize in their daily lives, and products that are horribly pollutant to the Earth, far more pollutant than the Fossil Fuels that they are replacing.

You may want to check up on that. You are incorrect.

[SmokingJoe]

Oh, and he built a rocketship, that Average Joe is supposed to go ‘WOW’ at, and then what?

We go back to the moon and build a permanent settlement there.
Then on to Mars.
Have you thought for one minute what we can do if one of these dictators fired nukes at America?
North Korea and Iran come to mind. For now.
Soon all these dictators will have nukes.

[Pearls Before Swine]

I don’t wish. That would be the result of hyperinflation, the end game of MMT money printing.

[SmokingJoe]

We are not even close to anything like hyperinflation. Despite Dementia Joe’s best efforts to ruin the economy.
Everyone at $300 Billion?
Not a chance. Not in a thousand years.

[patriotfury]

If we hit hyper inflation at some point, or something in between, and many of us could be worth over a $Trillion Dollars in short order.

[SmokingJoe]

We’ve never had anything even close to hyperinflation in this country, even in the worst of times.

[Pearls Before Swine]

You’re correct, at the moment, and I hope forever.

But, things can get out of hand suddenly. Read about the Weimar inflation sometime, where the government far outspent its ability to tax and borrow. Everything bumbled along for a few years, and then exploded in the course of the last year.

[Paal Gulli]

Except this is “unrealized” profit, which the demoncrats want to tax.

They should start with Musk, he’s got a few hundred billion to spare. And a self-admitted socialist, too, so he won’t mind.