- cross-posted to:
- aboringdystopia@lemmy.world
- cross-posted to:
- aboringdystopia@lemmy.world
Elon Musk is on pace to become the world’s first trillionaire by 2027, according to a new report from a group that tracks wealth.
Informa Connect Academy’s finding about the boss of electric carmaker Tesla, private rocket company SpaceX and social media platform X (formerly Twitter) stems from the fact that Musk’s wealth has been growing at an average annual rate of 110%. He was also the world’s richest person, with $251bn, according to the Bloomberg Billionaires Index, as the academy’s 2024 Trillion Dollar Club report began circulating Friday.
The academy’s analysis suggested business conglomerate founder Gautam Adani of India would become the second to achieve trillionaire status. That would reportedly happen in 2028 if his annual growth rate remains at 123%.
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This is a stupid article. I don’t think we can expect him to see 123% growth rate for 3 more years. That’s like saying my kid grew 6 inches this year by the time they’re 40 they will be 19 feet tall.
Not only is it stupid for exaggeration but for also glossing over the idea that it’s logical, sensible or moral for any person to own so much wealth that they would never be able to enjoy even just 1% of that during a single lifetime.
It’s completely absurd also from the thought that as one person owns enough wealth to pay for the lives of millions of people … millions of people are living in complete poverty and starvation.
We look through ancient history and laugh at the thought of our ancestors who worshipped kings, queens, god men, emperors and all powerful leaders … we’re still doing the same thing.
These thoughts don’t just reflect on people like Musk but on all of us for thinking and accepting that this is all normal behavior for what we all like to think is a modern sophisticated society.
Solid journalist math. According to this logic, if I keep pressing the gas pedal on a 1.0 VW Golf, it will reach the speed of light by 2028. Amazing performance for such a small machine
I feel like there should be a prize for this
Perhaps involving a french antique with a place to rest one’s head
I’m okay with taxing ultrawealthy billionaires and corporations out of existence, and giving them back the benefits of a well-fed/housed/clothed/educated/healthy population, of which they would also be the same.
That’s an excellent point. For this oligarch and all others.
Hear me out, we should go with mega guillotine: https://youtu.be/YYJ5ZViYhHQ
Itym GIGA guillotine
ooh, french laurels
Tax the fuck out of him.
I’d be more worried about shit like this (reported in the article) …
(Musk’s) post said an interview between former Fox News host Tucker Carlson and podcaster Darryl Cooper – a fellow rightwing media figure – was “very interesting. Worth watching.”
Cooper claimed in the interview that the Nazis did not mean to murder so many people when they carried out the Holocaust and killed 6 million Jews during the second world war. Instead, Cooper remarked, Adolf Hitler’s Nazi regime simply was not equipped to care for them – and the podcaster blamed British prime minister Winston Churchill for “that war becoming what it did”.
Musk ultimately deleted his post, and the White House condemned Carlson’s interview of Cooper as “a disgusting and sadistic insult to all Americans”.
Right now, if he were able to convert all of his $241.8B to cash, then distribute it evenly among all of the employees at all of his companies, he could give each of his 146,000 employees $1.6M.
No one person should be that wealthy. I don’t necessarily think that billionaires should be abolished, but I do think they should be paying a shit load more in taxes than they are.
Also, before anyone says it, yes, I know it’s not as simple as converting his holdings to cash. I’m just saying “if it were possible”.
Right now, if he were able to convert all of his $241.8B to cash, then distribute it evenly among all of the employees at all of his companies, he could give each of his 146,000 employees $1.6M.
Fun fact that this doesn’t work for every billionaire. Tech companies don’t employ very many people compared to their revenue.
If you go by by profits returned to owners as opposed to sale value it’s even more stark. Amazon still hasn’t paid out anything; it’s all been plowed straight back into expansion.
I don’t necessarily think that billionaires should be abolished,
To piss off the remaining side of the political spectrum: Why not?
Projecting him reaching a trillion dollars by using his average annual growth rate of >100% is ridiculous.
Meanwhile countless innocent, hard working, and good people are forced into being victims of genocide, abuse, homelessness, hunger, disease, slavery and more. All because the greed of the rich can never be satisfied. Bring out the guillotines.
I bet Leon is delicious.
I hope he’s dead by 2027.
I hope he’s dead
by 2027.
Well, I do wonder what trillionaires taste like. Any seasoning/cooking recommandations ?
I do wonder what trillionaires taste like
Lard and bullshit, I would imagine.
Oregano will go well with the traces of ketamine in the fat tissue.
Burn it and leave it on the stove.
Better marinate that meat in a strong stout for at least a week. :p
I hate this fucking planet so goddamn much
Hey ey ey, don’t go getting all testy with the planet because of some fuckwit humans.
Because the cybertruck is selling like hotcakes and x, fka twitter is making so much money right?
Regular Teslas are still very desirable luxury EVs and sell like hot cakes. SpaceX clearly just had to rescue Boeing’s blunder.
Those two will grow and big time. No matter how much you cry about the downfall of your beloved Xitter.
I know absolutely no one who thinks a Tesla (any of them) is a luxury EV. Musk is doing a great job making them undesirable to the general public, hence the large amount of unsold teslas sitting around in lots. It’s not all because of his politics, some of it is just because their quality control is terrible, as is their software.
Any reaction gif I could possibly post would be inappropriate and far too disgusting for public viewing, so just imagine I posted a gif of someone spewing bodily fluids out of every orifice like a firehose to gauge my response to finding this out.
Like this?
Can you not use your imagination? Did you learn nothing from Mr. Rogers and Figment?
Just trying to make sure we’re all on the same page here
I mean you kinda manifested this here, so let’s not act surprised.
I’m just glad it’s not Tubgirl.
Why are you like this
I’m down with that.
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Respectfully begging to differ, I think he did demonstrate solid self-control by not posting such a picture.
Further, I think he was just expressing his disgust for obscene wealth.
I’ll believe it when I see it. He made his good financial decisions when he wasn’t full mask-off insane, since his wife left him and his daughter disowned him he’s had more important things to deal with, like wasting his money turning back the clock so neither of them have any rights anymore. Currently he is just banking off of those good early decisions.
I won’t speak to the specific financials of his companies, but I don’t see him maintaining his current growth rate while so distracted for much longer. I also see his attachment to companies as a growing impediment, not an asset.
The only way this would be conceivable is if FSD actually worked, the robot works and change everything we know, or spacex is sending hundreds of ships to Mars each window.
Doesn’t seem possible, nor do I think solving only 1 of the above makes it possible.
Edit: or we wait long enough for inflation to make today’s assets at a future inflated value be worth that much without losing any of it in the meantime…
Nobody actually beats the market. I’m pretty sure the insanity was there all along; he just got lucky several times in a row.
Nobody actually beats the market.
Nancy Pelosi has entered the chat.
It’s possible putin was already a trillionaire before the war
Past returns are no guarantee of future success. How many damn times do financial people have to say this?
Given that they’ve implicitly sampled only the most successful past performers to start with, I’m going to say this is a rare case where the gambler’s fallacy works. More likely than not, his future returns will be lower.
