His wealth is much more imaginary than, say, Warren Buffett’s.
If Musk starts selling off all his stock, well, he’s the majority shareholder of his own companies, so the prices will collapse. He’ll be lucky to get 200-300 billion out of his trillion dollar valuation. I chose Buffett as a comparison because his company holds shares in tons of other companies, so it’s much more diversified and the value is not nearly as dependent on one single shareholder not selling much
He’d still be richer than buffet. We need to tax stock incentives and bonuses as income at the share valuation when issued either as cash value or percentage of stock to the government to be sold over the best 12 months.
He can loose 99.99% of his current valuation or whatever and still have more than enough money to never need a job. Surely he has a yacht he owns outright and can sell.
His wealth is much more imaginary than, say, Warren Buffett’s.
If Musk starts selling off all his stock, well, he’s the majority shareholder of his own companies, so the prices will collapse. He’ll be lucky to get 200-300 billion out of his trillion dollar valuation. I chose Buffett as a comparison because his company holds shares in tons of other companies, so it’s much more diversified and the value is not nearly as dependent on one single shareholder not selling much
He’d still be richer than buffet. We need to tax stock incentives and bonuses as income at the share valuation when issued either as cash value or percentage of stock to the government to be sold over the best 12 months.
He can loose 99.99% of his current valuation or whatever and still have more than enough money to never need a job. Surely he has a yacht he owns outright and can sell.