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by figassis
1 day ago
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We agreed to its value, and it can be spent and in your limited life span it translates to a drastically different life experience. So, fake money is still money. Not making any judgements on the topic, but waving this truth away doesn’t work. |
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It's the notional value of multiplying the last sale price times the number of shares he has. He can't spend the money until he sells the shares, and there's no reason to think that they would actually all sell for the last selling price.
In fact, Musk is restricted from selling shares at the moment. His bank balance is the same today as it was yesterday.
(Caveat: he can borrow money today, using the shares as collateral. When the debt comes due, he can sell shares to sell it. So if he wanted additional spending money today, he could have it. Probably not up to the full trillion dollars, but some absurdly large sum.)
(Caveat bonus: he can actually roll over that borrowing indefinitely -- borrow more money to pay back the last one. Meaning that he's just acquired all of that money without having to pay a single dollar in taxes. It's good to be rich.)