Elon Musk's drop in fortunes breaks world record

[thaibeachlovers]

3 hours ago, Berkshire said:

 

I can appreciate you guys' one-way bromance with Elon.  But the point is his right wing views are toxic and costing him money.  If he keeps at it, he'll lose even more....which is fine according to you geniuses....5555

Absolutely fine with me. See if he likes it living same as average people.

[puchooay]

4 hours ago, placeholder said:

Can you name any public figure discussed in this forum who cares about the opinions of its members? Why do you think this is relevant?

It's relevant to the topic as I was replying to another's post.

[ozimoron]

 

 

[Bkk Brian]

Its not looking like a good 2023 for Musk, more bad news for him......................

 

Saudi Wealth Fund Chief Refuses to Testify at Musk’s Tesla Fraud Trial

Elon Musk can’t count on the head of Saudi Arabia’s sovereign wealth fund to help his defense at an upcoming trial over claims by investors that the Tesla Inc. CEO defrauded them in 2018.

 

Through their lawyers, Yasir Al-Rumayyan and other officials from the kingdom’s Public Investment Fund argued to the judge overseeing the case Thursday that they’re not legally obligated to show up for the trial in San Francisco federal court that’s set to start Jan. 17.

 

Investors allege Musk misled them with tweets in August 2018 saying he had a plan to take the electric-car maker private with “funding secured,” the shareholders say the Twitter posts cost them billions of dollars by spurring wild swings in Tesla’s stock price, Musk has maintained that the PIF agreed to support his bid.

https://www.bloomberg.com/news/articles/2023-01-12/saudi-pif-seeks-to-block-subpoena-in-musk-s-tesla-fraud-case

https://archive.ph/5bWag

[2009]

On 1/12/2023 at 1:26 PM, Berkshire said:

I doubt he enjoyed losing 60% of his wealth inside a year.  Being the darling of the right ain't what it's cracked up to be.  These right wing nutters that admire him aren't the ones buying Tesla's.  Elon will figure that out soon enough.

I am not sure he cares much about money. He's a bit nuts and seems to care more about doing cool things and stroking his ego. 

 

If money were high up on his list of priorities, he wouldn't have acted like such an asshat recently.

 

That said, I do like the guy - not just cos we share the same political views - but cos he is genuinely trying to make a difference in the world.

 

However, he is too much of a loose canon for me to invest in Tesla. Oh well.

[n00dle]

On 1/12/2023 at 3:15 PM, JonnyF said:

because they can't stand the fact that he bought their echo chamber and installed a semblance of free speech

sure, thats what we are talking about here. Not the mass lay offs, the refusal to honour severance agreements, the attempts to quash future testimony and lawsuits via what amounts to severance payment extortion or the failure to pay rent for spaces across the globe.  

 

[JonnyF]

11 hours ago, n00dle said:

sure, thats what we are talking about here. Not the mass lay offs, the refusal to honour severance agreements, the attempts to quash future testimony and lawsuits via what amounts to severance payment extortion or the failure to pay rent for spaces across the globe.  

 

The left were up in arms about the takeover long before any of the things you are alleging. 

[BananaStrong]

Now my life will be the same as his???  Or does his experience, success, wealth, continued wealth, high profile connections, lavish lifestyle forever mean anything?  
 

No.

 

we are the same.   Same same.

 

he invented stuff but I give him no credit!    I post on message boards!!

[n00dle]

On 1/18/2023 at 7:50 AM, JonnyF said:

The left were up in arms about the takeover long before any of the things you are alleging. 

alleging? I guess a fanboys gonna fan. 

[JonnyF]

7 minutes ago, n00dle said:

alleging? I guess a fanboys gonna fan. 

Haters gonna hate. 

 

Jealousy is a terrible thing.

[Berkshire]

9 minutes ago, JonnyF said:

Haters gonna hate. 

 

Jealousy is a terrible thing.

So a rich person can never be criticized because it's always about "jealousy"....?  You need to change the music occasionally.  Singing the same tune over and over gets tiresome.

[JonnyF]

7 minutes ago, Berkshire said:

So a rich person can never be criticized because it's always about "jealousy"....?

Strawman.

 

Try harder.

[pedro01]

He hasn't lost $165bn - it's not a real number.

 

Put it like this - let's say you have a 100 million shares in a company. The last price trade was $20. That gives you a "wealth" of $2,000,000,000. But it's smoke and mirrors because if you attempted to unload the 100 million shares, you'd hit the price hard and never achieve that selling price of $20 on the whole 100 million shares. 

 

The $2,000,000,000 is merely the nominal value - and should not be confused with the amount of money you'd be able to realize selling the shares. 

 

So it's all bunk anyway. He's definitely had an impact on his net worth but these things are always inflated because of the impact a big seller would have on prices.