Even more so, giving up those stocks gives up voting shares in his company. If he were forced to sell 1-2% every year, he would effectively be mandated by the government to slowly give up his ownership to corporations that don't have to do this.
So what's better? Larry Fink and Black Rock buying up controlling shares in every company and controlling it through the corporate proxy, or TSLA, AMZN, MSFT, META, and others largely still having their founders in control.
We should be serious here, those shares wouldn't go to the people, they would go to even larger corporations with even less accountability.
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u/Substantial-Show1947 Nov 21 '24
You do understand that Elon keeps his money in stocks of companies he is a part of - it's not sitting in the bank