That’s the thing though. No one does buy anything from him and he’s still a trillionaire because it’s all theoretical. If he was forced to actually come up with the money he couldn’t.
All market capitalization values are theoretical, and his is inflated the most. However. Tesla still sells a bunch of cars unfortunately. And SpaceX’s value is mostly propped up by StarLink, plus the playing with rockets side of it gets juicy government contracts
You do know they borrow against their wealth at close to zero percent interest, right? He probably cant get a trillon in cash but he could probably get $250 billion no problem.
That’s the thing though. No one does buy anything from him and he’s still a trillionaire because it’s all theoretical. If he was forced to actually come up with the money he couldn’t.
All market capitalization values are theoretical, and his is inflated the most. However. Tesla still sells a bunch of cars unfortunately. And SpaceX’s value is mostly propped up by StarLink, plus the playing with rockets side of it gets juicy government contracts
You do know they borrow against their wealth at close to zero percent interest, right? He probably cant get a trillon in cash but he could probably get $250 billion no problem.
That’s their entire personal financial model, and we can make that illegal, you know?
Dont make it illegal, just tax them as if its realized gains when they do it. If they pay it back, give them a tax credit.
Make new tax brackets as well that go up to 80% or whatever as well. Dont let them use the wealth without paying taxes.
It’s not physically possible for him to spend the amount of money he could produce, on things that he could personally use.
The most expensive house sold in the US cost $0bn (to the nearest billion).
The most expensive private island that I can find any reference to online, Larry Ellison’s island in Hawaii, cost $0bn (likewise).
The most expensive painting ever sold at auction, Leonardo da Vinci’s Salvator Mundi, went for $0bn.
The ten most expensive historical artifacts ever sold at auction, combined, comes to $0bn.
The most expensive superyacht ever just about rounds up to $1bn, and the whole point of a superyacht is to be insanely expensive.
Anyone who thinks billionaires should be incentivized with more money isn’t paying attention.