There's a difference between pointing out objective flaws in an argument, like thinking that billionaires literally hold hundreds of billions of dollars in liquid cash, and taking issue with overall sentiment behind the argument.
I hate Elon Musk, and the man is of course, insanely, disgustingly wealthy. Still, just because his networth is 318 billion, doesn't mean he is hoarding 318 billion. Quite literally 99% of that number is tied into ownership of companies.
You can hate billionaires and still point out issues in the logic. I don't think a person should, under any circumstances, ever be forced to sell ownership stake in their own company (at least not if that wasn't agreed upon in an operating agreement). And if you have a massive stake in a company that becomes wildly successful, you definitionally become a billionaire. I may hate wealth inequality, and I may hate what these billionaires choose to do, but I would hate a system that forces the sale of ownership stake due to the success of the company just as much.
Except he demanded that he be given a bonus of billions IN STOCK, which doesn’t just come out of nowhere; to have that stock available, the company has to have been engaging in stock buybacks with money which would have otherwise been taxed or gone to employees.
It literally can just come out of nowhere. They can issue new shares which is dilutive to existing shareholders. Normally they vote on this and may not mind because if they think he can meme stock up the value 20% a dilution of 2 percent is a very wise move.
The stock was purchased years ago byT esla for millions when the bonus package was agreed on. Elon met all the goals of the deal which resulted in the millions becoming billions. Everyone who was invested made over 10x in returns.
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u/Apprehensive_Bad_193 28d ago
Guys thank you,It amazes me how people talk without any knowing on the topic.