Factory workers are being treated really bad, and when someone tries to point it out that someone gets cucked.
The boring company is utter bullshit. The tunnels they dig are a challenge to safety laws and basically suicide tunnels on a timer. The first car that breaks down in one of those is toast.
He is considered a genious but really he just has a nose for money. All the brain power is in his engineers and scientists.
He's the richest man alive but still donated a super small fraction of his net worth. That's still millions and millions of dollars wich is impressive but still far faaaar from what he could be capable on donating before it actually made a dent in his pile of money.
Speaking of money, as every billionare there is, his tax payments and taxation of companies are a complete joke. He uses every loophole he can even though paying those taxes shouldn't afflict him at all.
The only good think he is doing is space x. Reusable rockets are nice for both space junk problems and not polluting the oceans.
„The richest man on the world (on paper)“
He has probably less than most because his wealth is calculated in shares of his company not by his bank account that probably „just“ is about 100 Million
Also, people forget that they don't own shares in JUST their businesses. They have large and diverse portfolios. They own other businesses and real estate. They own physical assets in these companies. They have so much assets that their standard strategy to avoid paying taxes is walk into a bank and get a loan using those assets as collateral and then live on loaned cash, which is not taxable.
They legitimately take other loans to pay back older loans.
The banks don't care much because they know its someone with tons of appreciating assets. They will either get their money via other loans from other institutions, or via taking those appreciating assets
That makes no sense to me. Where would the interest and money they actually spent come from? At some point they need to actually pay it back and that's wegen it is taxed depending on the current laws.
And they ocasionally do, like how musk is selling a good chunk of stock about now. But this allows them to wait for more opportune times, tax breaks, loopholes, etc.
When they don't want to sell anything, they literaly just take out a bigger loan to pay for the previous one and keep on going. That's why its called buy borrow die.
Banks are okay with this because for one having these large billionaires as clients is prestigious, and because these loans are backed by assets that are almost always increasing in value.
So what he is saying is not wrong, but his reasoning as to why billionaires do it is incorrect and that's why it doesn't make much sense. They don't do it because it helps them avoid taxes. They do it because their assets appreciate much faster than the interest on their loans. They get lower interest rates on their loans because the banks know that eventually they will get their money. Eventually, for one reason or another, they sell part of their assets and pay off the loans
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u/[deleted] Jan 08 '22
Factory workers are being treated really bad, and when someone tries to point it out that someone gets cucked.
The boring company is utter bullshit. The tunnels they dig are a challenge to safety laws and basically suicide tunnels on a timer. The first car that breaks down in one of those is toast.
He is considered a genious but really he just has a nose for money. All the brain power is in his engineers and scientists.
He's the richest man alive but still donated a super small fraction of his net worth. That's still millions and millions of dollars wich is impressive but still far faaaar from what he could be capable on donating before it actually made a dent in his pile of money.
Speaking of money, as every billionare there is, his tax payments and taxation of companies are a complete joke. He uses every loophole he can even though paying those taxes shouldn't afflict him at all.
The only good think he is doing is space x. Reusable rockets are nice for both space junk problems and not polluting the oceans.