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Could X go bankrupt under Elon Musk?
(www.bbc.com)
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this post was submitted on 03 Dec 2023
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I honestly think that he doesn't have to face consequences like normal people because he has enough money to make problems go away. He can be an awful person in interviews, and mean his words too, then even bankrupt his company, and you know what? He will continue being excessively rich.
His money could be used to fix so many issues en masse. It's disgusting that he chooses not to do so every day.
One of my biggest gripes is that anyone can have this much money to begin with. We should never have to rely on the ultra-wealthy to fix our problems by making it their pet project, and no one should be able to squirrel away that much money to begin with. All the money that could fix those issues en masse instead pads some sociopath's portfolio.
Personally, I'm okay with a small set of folks being rich as long as they pay taxes. I'm this case, a hell of a lot of taxes. You know, the taxes they should be paying, not what they manage to get away with now.
Let the legal system enforce that they give back to society in a meaningful way. Close the stupid loopholes. I want to see a meaningful improvement in society from their contributions. Everyone else is worse off unless they contribute.
Right with you! Guess I have nothing to add. 🤷🏻♂️
He has wealth, he has to dip into selling stock to have "money."
I don't disagree otherwise, but when your wealth is in the companies you own, you pretty much have to sell the whole shebang in one go (what Musk reportedly tried to do with Apple, offering to sell them Tesla as a whole) or selling it piecemeal, by selling off portions of stock (which he does fairly regularly for cash infusions).
His wealth will surely insulate him for quite a long time. However, it is not a permanent insulator, and he has made a series of, let's say, questionable decisions. It's very likely that it will either take decades for it to really hurt him, or that it just may make him far less wealthy, but still wealthy enough to be annoying.
We're also at a precipice, because the kinds of things that he is saying were the kinds of things that used to get you shitcanned from the business community as a whole. Nobody would do business with a virulent anti-semite. It's one of the reasons Musk bought Twitter, really, because they are busy normalizing positions like anti-semitism.
The normalizing of his hate will actually get him farther, longer, than his wealth.
If the guy has his money "tired up in assets," and this is your way of saying that he shouldn't pay taxes, then I have a bridge to sell you.
Literally don't know why you'd take that away from my comment. We need a wealth tax.
Pretty sure he posted on twitter a couple years ago about how if someone credible provided a plan to solve world hunger for 6 billion dollars, he would sell Tesla stock and just do it, to which the UN responded with a detailed plan. However, Musk pretty much ignored them, no acknowledgment (as far as I know) and no money donated.
Using the money to fix issues in the world and making it a better place is not a part of his politics.