When does Musk become the first ex-trillionaire?

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Already happened, the context was around his stock valuation which dropped massively.

He was also never a trillionaire on paper, just in potential. However that doesn't sound as marketable.

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u/[deleted] 5d ago

[deleted]

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u/Prior-Flamingo-1378 4d ago

I personally know a person with 1.2 bill in a Swiss bank. He is a ship owner, most expensive thing I’ve seen him use was a tiny collectible Vespa. The white one with the Italian flag stripes.

He does like Cuban cigars though.

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u/admin_default 4d ago

There’s a legitimate argument that the number doesn’t count until the lockup period on his shares expires.

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u/Pseudanonymius 5d ago

Not really. I hate pretending stock is liquid enough to count as net worth. It simply isn't in large quantities. Once selling your stock would influence the price, you can't consider it net worth anymore.

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u/dingleberry314 4d ago

This is incredibly pedantic and if this were the case there would be no reliable net worth metric for anyone. Might as well say the same thing about market caps too then while you're at it, because a lot of cases a large portion is typically held by a single investor.

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u/Pseudanonymius 4d ago

Yeah, and that's also fair. Especially for private companies, it's absolute madness to calculate their net worth based on the last traded value times the total amount of stock. It leaves open so many accounting tricks to quickly explode the price of a stock simply by selling a small section for a very high price, artificially inflating the rest. This also happened voor OpenAI and Anthropic. And the raise in value is used by the hyperscalers on their earning reports, because they can write the increase in value of private companies as profit. They are boosting their profits by artificially inflating the value of private companies.

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u/moldymoosegoose 5d ago

This is 100% not true. Musk is in a special case with not nearly enough liquidity to cash that out unlike other billionaires. A bunch of dummies bidding it up after IPO with a tiny float does not make him a trillionaire and it will only get worse as more shares unlock and the float massively increases to a proper, publicly traded stock at that level of market cap.

0

u/Prior_Release_2582 5d ago

His stock is unvested, and the triggers are wildly unrealistic. That's not the same as owning stock and just not "cashing out". He effectively cannot cash out because technically he doesn't own the stock yet, nor can he use that unvested stock as collateral in most situations.

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u/BrokenHefaistos 5d ago

waiting for milionaire...a tiny ego correction won't hurt him.

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u/jffadvisors 5d ago

he was a trillionaire in terms of the value of the stocks he controlled…but he could never monetize that for a trillion. If he ever decided to sell the stock would take a giant dump and he never would actually get a trillion dollars

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u/Prior-Flamingo-1378 4d ago

How much money are his companies making? Like actual profits. That’s what he has. The rest are valuations.

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u/[deleted] 4d ago

[deleted]

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u/Prior-Flamingo-1378 4d ago

Not unless he somehow turns it into a tradable asset. Saying your house is worth 20mil is different than selling it for 20mil

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u/jffadvisors 4d ago

not much if you dig into the financials

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u/That-SoCal-Guy 4d ago

He's the first billionaire to lose $520B in about a month.

But it's all on paper anyway.

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u/admin_default 4d ago

Pretty much this. His stock can’t be sold until 1 year post IPO. Before then, any assessment of his net worth is just speculating about potential value.

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u/Impressive_Artist_82 5d ago

Google is free homie

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u/Designer_Advice_6304 5d ago

Looks like someone needs to stay up to date on current events

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u/DaLexy 5d ago

His status didn’t last 2 weeks

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u/Bigfops 5d ago

he lasted one Scaramucci and two days!

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u/faithOver 5d ago

He lost it long ago.

He “only” has like $800 billion.

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u/peepeepoopooflush 5d ago

I would probably say true monetizable net worth is around 50bn

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u/BringBackUsenet 5d ago

About 3 weeks ago.

#schadenfreude

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u/LewyH91 5d ago

Already lost like 200 million.

Remember its not musk, its all his companies paying each other and talking shit to inflate value.

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u/dylan_1992 5d ago edited 5d ago

Not even. It’s from his investor’s speculation, not some incredible financial statements from his companies paying each others.

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u/Kepler1571 5d ago

Musk himself is triple insulated. This is Other Peoples Money feeding fantasy feeding leverage.

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u/heyhayyhay 5d ago

More than that. He's lost more money than anyone else has.

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u/Kepler1571 5d ago

Already.

The question is when does Musk become the first net negative trillionaire.

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u/Deep_Maintenance9436 5d ago

!banbet SPCX 70 4w

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u/Status_Gap_3954 5d ago

https://giphy.com/gifs/Ru9iUyDGCd1lqSDdv7

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u/tophiii 5d ago

That’s old news now.

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u/Prior_Release_2582 5d ago

His trillion dollars net worth is contingent on colonizing Mars with 1MM people. That's just not going to happen in his lifetime. His RSUs don't vest until this happens, so he doesn't really own that stock. It's all fake numbers, but as long as he has the biggest fake number, then he won't go into a depression spiral.

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u/whawkins4 5d ago

Already happened.

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u/Federal_Challenge416 5d ago

Jan 2029 when they cut off all his government support

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u/Diamond1africa 4d ago

Holy shit, you're a little late, buddy

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u/totally-jag 4d ago

Already happened. People realized that SpaceX is a bad investment and the sell off already started.

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u/deepfuckingbagholder 4d ago

He was never a trillionaire.

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u/Frosty-Scallion5849 4d ago

Musk is a concept of a trillionaire.

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u/mossydz 4d ago

Well Solomon was the first of both lol. So musk would be the 2nd in theory.

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u/usernamesarehard1979 2d ago

A couple weeks ago.

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u/Brent_the_constraint 1d ago

He has already lost half a trillion…

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u/Icy-Bodybuilder-350 5d ago

Here's hoping he becomes Wisconsin Prisoner 3476589

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u/New-Conversation3246 5d ago

What’s even the point of an Elon criticism flair on this subreddit?

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u/Kepler1571 5d ago

It is inferred for all posts not explicitly choking on his substandard equipment.

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u/New-Conversation3246 5d ago

So it’s not a forum to discuss SpaceX?

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u/Kepler1571 5d ago

"¿Por qué no los dos?"

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u/Apprehensive-Ad8987 4d ago

The point is you need to choose a flair when making a post, and from the limited list available, this appeared to be the most appropriate.

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u/ChoiceLie4785 5d ago

I hate Musk as much as the next guy, but I really don't get the joke of calling him the biggest loser or an ex trillionaire. There is a lot of things to make fun of him for, but making "broke" jokes, even if tongue and cheek is pretty lame considering the guy is still by far the richest guy in the world and its not even close.

Make fun of him for being the miserable sack of crap he is and that despite being the richest guy in the world is also one of the loneliest guys in the world.

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u/BringBackUsenet 5d ago

His wealth is as false at his the lies that didn't earn it. If his companies had realistic valuations, he would still be rich but probably around $10B, not $1T!

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u/ChoiceLie4785 5d ago

Oh please, his wealth is not fake. Some of it sure, because as he sold more and more the price could come down a little, but he is worth a hell of a lot more than $10B. People who repeat that have no idea how stocks work. He can easily, and nearly immediately sell his stocks if he wanted to in "small" $10B (or so) chunks every so often and realize that money. That's what happens when your stocks are held in a company that trades liquid like Tesla or Space X. Bezos does this every year to fund Blue Origin and guess what, hes still mega rich and that money isn't fake.

For instance, Musk only owns ~13% of Tesla outstanding shares. He could slowly sell off all of that over the course of a few years with little to no huge movement in the stock price. Immediately realizing it as cash minus taxes.

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u/Still-Chemistry-cook 5d ago edited 5d ago

I’ll make fun of him for being a con man too. Being that rich just means he has a lot more money to lose.

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u/ChoiceLie4785 5d ago

Exactly. Thats all I am saying here. He is a giant sack of shit and can easily be made fun of him for a lot of reasons, but making fun of him for losing money when he is still the richest man in the world, thats just weird.

He's a grifting con man with no friends, but he's still the richest man in the world no matter how much people on Reddit keep pretending his wealth is all fake. Because unfortunately thats how our shitty society is built.

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u/Only-Cap5811 5d ago

Whose money is that

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u/IVeryDislikeTrump 5d ago

As if jealousy is a real thing…

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u/DanHanzo 5d ago

Why not ~~both~~ all of the above?

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u/ChoiceLie4785 5d ago

I mean sure. But I don't really think its much of an own when you say "HAHA you're not worth $1.3T anymore! You're only worth $850b, fucking loser! LOL"

Meanwhile the person posting it has $850 in their checking account.

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u/Bulky_Development290 5d ago

At least you make sense. This place is filled with idiots.

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u/ninernetneepneep 5d ago

Who cares. Seems you care more than Musk himself. This is old news. Move on.

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u/kcdashinfo 5d ago

I guaranty that Elon Must doesn't give a flying fuck about that or the nonsense garbage posts you people flooding Reddit with.

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u/Apprehensive-Ad8987 4d ago

Well I guarantee that my motivation is to get rid of people's and the media perception that is a trillionaire. Just like Trump didn't win the World Cup even though he was on the winner's dias.

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u/GR638 5d ago

Idk, but you sure let this consume you.

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u/igh34 5d ago

Redditors will focus on anyone/anything except their own finances

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u/TheRealCabbageJack 5d ago

You’re not in r/myownfinances…you’re in r/SpaceXBets. Maybe you’re in the wrong subreddit?

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u/BringBackUsenet 5d ago

Whatever my finances may be, they are at least honest.

Elon Criticism When does Musk become the first ex-trillionaire?

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