this post was submitted on 14 Mar 2025
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Summary

Elon Musk’s fortunes have plummeted by $148 billion amid Tesla stock plunging nearly 50%, government protests, and setbacks at SpaceX and Starlink.

A White House event with Trump, meant to boost Tesla, instead highlighted Musk’s growing desperation.

Musk's other ventures are also struggling—SpaceX rockets have exploded during tests and Starlink lost a Canadian contract.

His role leading DOGE is generating backlash, with Musk appearing increasingly defeated in public appearances.

His reputation, which previously weathered controversies, now faces unprecedented challenges due to his political alliance with Trump.

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[–] Elkot@lemmy.world 8 points 2 hours ago

I hope he continues to suffer

[–] alxmg@slrpnk.net 8 points 3 hours ago

Music to my eyes. If there ever is a person deserving of this treatment, it’s him.

[–] Treczoks@lemmy.world 21 points 6 hours ago

He has still not lost enough. I wonder how long this "take money as a loan from the company to avoid paying taxes" will work. Hopefully, they will stop this and thus make him pay taxes for years and billions.

[–] boonhet@lemm.ee 14 points 6 hours ago (1 children)

You know, they say this Musk guy is such a smart businessman, but I personally have NEVER lost $148 billion, much less in the span of two months.

[–] skuzz@discuss.tchncs.de 2 points 3 hours ago

Isn't it just hilarious how somehow, being rich just gets one a free pass to also "be smart"?

[–] ieatpwns@lemmy.world 7 points 7 hours ago

Pathetic. Irresponsible. The most I’ve ever lost in a month was $20

[–] IndustryStandard@lemmy.world 9 points 10 hours ago (1 children)

148.2 billion. He gave 200 million to Trump!

[–] Bamboodpanda@lemmy.world 5 points 4 hours ago* (last edited 4 hours ago) (1 children)
[–] TheDeadlySquid@lemm.ee 2 points 7 hours ago

This is so funny. 🤣

[–] Opinionhaver@feddit.uk 28 points 13 hours ago (3 children)

Nobody loses anything when stock prices go down unless they start selling at a loss. Tesla stocks are up 48% from a year ago. They're only doing bad compared to 2 months ago when the price was at all time high.

[–] Gustephan@lemmy.world 16 points 13 hours ago (8 children)

I don't think that's relevant in this case because I don't think elon has the capacity to understand that. He's a man that pays to cheat in online gacha games for clout; he is not emotionally built to handle seeing number get smaller and reacting rationally to that

[–] bus_factor@lemmy.world 1 points 2 hours ago

I don't think this is about numbers going down. Tesla stock has gone down before, without him having this reaction. I think his real problems are more personal:

  • He's stretched himself too thin, and the stress is getting to him
  • Related to the above, his drug abuse is getting out of hand
  • He is deeply insecure, and more than anything, he wants people to think he is cool. People have made it abundantly clear that they do not think he is cool.

So it's not really about number going down, it's about people explaining number going down with "everyone hates Elon Musk".

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[–] imetators@lemm.ee 4 points 13 hours ago

Shhhh. Lemmy doesn't want to hear truth. Neither they want to hear that Musk actually doesn't own tesla, only 12.8% of it. He still has billions of his own money and is set for life.

Unless he got Luigi-ed, he has nothing to worry about.

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[–] Zerberr@lemmy.ca 5 points 10 hours ago

That's it, elon. You're outlived your usefulness

[–] axh@lemmy.world 17 points 15 hours ago

How to lose $148 billion in less than two months

Step 1. Have $148 billion or more

...Shit, this guide is useless.

[–] Zier@fedia.io 43 points 18 hours ago (4 children)

It's almost like the whole planet is bullying xelon. He seems so sad, he's losing so much. So many negative memes & comments. Stories about how corrupt he is and how unsafe all his businesses are. I'll bet he's teetering on the edge of a MASSIVE mental meltdown. So, citizens of Earth, keep bullying elon!

[–] freebee@sh.itjust.works 26 points 16 hours ago (2 children)

all he had to do was shut up online.

[–] Zier@fedia.io 11 points 15 hours ago

That's how I feel about trump. All he had to do was keep committing fraud and crimes quietly. Instead he decided to make us all aware of what a colossal fuck up he is. Xelon is like his twin. May they both hang as US traitors.

[–] nickhammes@lemmy.world 4 points 15 hours ago

two billionaires, unfathomably rich individuals, in the last ten years that having a good public image was overrated, but decided they'd rather use their platform to hurt people, and alienate anyone who liked them, but wasn't a raging bigot. is the allure of being mean to people on twitter.com that great?

if Musk had shut up just 5 years ago, he'd probably have more money, more respect, but somewhat less power. instead he's become the guy a lot of people are excited to see have a total breakdown, and hopefully lose everything.

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[–] exixx@lemmy.world 64 points 20 hours ago (4 children)

If he was bankrupt and on the street that still would not be enough for me at this point.

[–] Sciaphobia@lemm.ee 1 points 4 hours ago

For someone as monstrous as him, what punishment could even be appropriate? What possible way could such aggressively destructive and anti social behavior be rehabilitated? I struggle to call anyone a lost cause, but if anyone ever was...

[–] ieatpwns@lemmy.world 4 points 7 hours ago* (last edited 7 hours ago)

If I saw him homeless on The street id buy him a cake then smash the cake in front of him

[–] Postmortal_Pop@lemmy.world 25 points 20 hours ago

If he keeps losing money he'll eventually hit the illegal immigrant zone and get taken go Gitmo.

[–] 5in1k@lemm.ee 2 points 12 hours ago

I would hand him a bottle of pee if I saw him homeless on the strret.

[–] theneverfox@pawb.social 29 points 19 hours ago (4 children)

I've been wondering about this... Billionaires do the "borrow against their holdings so they pay no taxes, do it again to pay those off, then die" thing

So his holdings doubled and crashed back down (and still falling) over the course of a few months. He leveraged a ton of it to buy Twitter, which has also crashed.

So is there a point where he loses everything? If Tesla drops too low, can they call in the debt?

He doesn't seem to own much property directly, even his mini home is basically a publicity stunt while he basically lives with various friends

So if his stocks continue to crash, is there a point where it all just falls apart?

[–] booly@sh.itjust.works 4 points 6 hours ago (1 children)

So is there a point where he loses everything? If Tesla drops too low, can they call in the debt?

Yes, to whatever extent that Elon-owned stock is pledged as collateral for his personal loans. Loans like that always carry provisions where the lender can call in the collateral if the value drops to a certain ratio of the overall loan balance.

So if Tesla stock plunges enough (and we have no way of knowing exactly how much is enough), that can cascade to where Elon needs to put up some cash, or other property, or pledge more shares, or it all comes crashing down where his collateral gets wiped out at the bottom.

[–] theneverfox@pawb.social 1 points 4 hours ago

Thanks, I thought so but it's good to have confirmation my fantasy could play out

[–] JeeBaiChow@lemmy.world 19 points 17 hours ago (1 children)

The sad part is, even if his empire disappears, he's still gonna leave wealthier than most of us.

[–] theneverfox@pawb.social 9 points 17 hours ago (4 children)

No, he'd be killed. He's made too many enemies... Both in his peers for revealing himself to be a liability, and among the working class worldwide

If he falls out of grace, he's going down like Epstein, if not by the adjuster

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[–] Botzo@lemmy.world 11 points 18 hours ago* (last edited 18 hours ago) (1 children)

Lovely imagery, but I think words get in the way of the magnitude of the wealth here.

There's (unfortunately) not a realistic scenario where he's not a billionaire.

[–] theneverfox@pawb.social 13 points 17 hours ago (3 children)

You want me to paint a picture? I'm watching a god bleed, and now I'm wondering what it takes for one to fall

You can say it's impossible, but we're in the onion timeline. We're so far beyond anything humanity has ever gone through before... History might rhyme, but we're in uncharted territory

[–] vaultdweller013@sh.itjust.works 6 points 17 hours ago (1 children)

Nah this is charted out somewhat well. There have been many untouchable folks with so much wealth, power, and influence so as to be almost divine in folks eyes. While plenty have lived into old age plenty still died choking on their own blood with a noose around their neck. I'm hoping for the latter personally.

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[–] kn0wmad1c@programming.dev 12 points 16 hours ago

Trump bankrupts everything he touches, including people

[–] phoenixarise@lemmy.world 5 points 15 hours ago (1 children)
[–] Scrollone@feddit.it 3 points 15 hours ago

I hope we get rid of rim soon, one way or the other.

[–] tonytins@pawb.social 23 points 21 hours ago* (last edited 21 hours ago)

First it was Twitter, and now this. Boy, Elon sure knows how to make himself look like a "genius."

[–] SabinStargem@lemmings.world 2 points 12 hours ago (1 children)

Here's hoping that Musk is someday forced to live on social security. Or dead. Either outcome would be fine by me.

[–] teletext@reddthat.com 6 points 12 hours ago (1 children)

Well, we'll all be dead someday.

[–] SabinStargem@lemmings.world 1 points 5 hours ago

Him first, so that we can piss on his grave.

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