He doesn’t have a lot of money. He has shares in companies.
Selling those shares would crater the value as we saw when even a tiny fraction were sold when he bought Twitter.
So if you didn’t want to tank millions of people invested in his companies, especially Tesla with things like ETFs where peoples pensions are held, it would probably be best to transfer ownership of those shares to someone.
Maybe the government could take them and in some cases that would be the equivalent of taking ownership/nationalizing of the company (e.g spacex where he owns majority voting rights)
On the one hand, yes, ruining 401ks and iras for middle america people who still have investments would be sad, on the other, ruining the investments of rich fucks would be joyous. We’re not going to get out of this hellhole we find ourselves in by coddling everyone invested in the system.
He doesn’t have a lot of money. He has shares in companies.
Selling those shares would crater the value as we saw when even a tiny fraction were sold when he bought Twitter.
So if you didn’t want to tank millions of people invested in his companies, especially Tesla with things like ETFs where peoples pensions are held, it would probably be best to transfer ownership of those shares to someone.
Maybe the government could take them and in some cases that would be the equivalent of taking ownership/nationalizing of the company (e.g spacex where he owns majority voting rights)
On the one hand, yes, ruining 401ks and iras for middle america people who still have investments would be sad, on the other, ruining the investments of rich fucks would be joyous. We’re not going to get out of this hellhole we find ourselves in by coddling everyone invested in the system.