Will Musk be the 1st trillionaire?

[JeffKeryk]

Looks like Elon's net worth could hit $1.1T tomorrow. SpaceX does not turn a profit but that is due to heavy capital expenditures.
The real story is, this is Musk's company; Elon will still control more than 80% of the voting rights.

How rich is Elon? How much is $1T in comparison? Well, #2 Larry Page is worth a paltry $300B.
Disruptive technologies for the win. Go big or go home.

Interesting day tomorrow. The real money just might be in the AI business unit...

 

[dogememe]

I don’t know but if wants to send me a few free AI GPUs I’d appreciate it.

 

[dishdude]

If people are dumb enough to put money in his ridiculously overpriced IPO, I guess it might happen.

 

[JeffKeryk]

If people are dumb enough to put money in his ridiculously overpriced IPO, I guess it might happen.

Well, Tesla was supposed to be belly-up any day now, right? All good.

 

[goblin]

To the question - yes, he will.

Funny how in The Fourth K - probably the only Mario Puzo's book that is both NOT about the Corleones AND is a good book - Louis Inch, the tycoon secretly aspiring to become the first trillionaire, plans to do it with oil and grain speculations, over decades. That book was released in 1990. Sci-fi can never keep up with reality as far as money goes.

 

[02SE]

Looks like Elon's net worth could hit $1.1T tomorrow. SpaceX does not turn a profit but that is due to heavy capital expenditures.
The real story is, this is Musk's company; Elon will still control more than 80% of the voting rights.

How rich is Elon? How much is $1T in comparison? Well, #2 Larry Page is worth a paltry $300M.
Disruptive technologies for the win. Go big or go home.

Interesting day tomorrow. The real money just might be in the AI business unit...

I think you mean Larry Page is at $300B.

As for Musk, I hope he does make it.

 

[4wd]

Been wondering why this was not a thread …

 

[CleanSump]

Wondering why the Elon hate. What did he do to you? That's right, absolutely nothing except trigger your jealousy gene.

 

[JeffKeryk]

I think you mean Larry Page is at $300B.

As for Musk, I hope he does make it.

Nice catch. Fixed my post.

 

[Owen Lucas]

The issue here is that SpaceX was fast tracked into the NASDAQ, essentially printing money for the early investors who might cash out early, at the expense of our 401Ks and investments that are part of the NASDAQ.

If I understand this correctly, everyone in certain funds will now automatically be financing and buying shares of SpaceX by default, hence the massive liquidity and potential for seed founders to exit.

The S&P didn't bend to his rules which is honorable.

 

[RhondaHonda]

The issue here is that SpaceX was fast tracked into the NASDAQ, essentially printing money for the early investors who might cash out early, at the expense of our 401Ks and investments that are part of the NASDAQ.

If I understand this correctly, everyone in certain funds will now automatically be financing and buying shares of SpaceX by default, hence the massive liquidity and potential for seed founders to exit.

The S&P didn't bend to his rules which is honorable.

It’s only going to be a 0.5% of the Nasdaq 100. Even if it goes belly up, it’s not going to impact your 401k.

 

[Owen Lucas]

That being said, I wish Musk luck. He's made civilizational change and continues to do so.

Despite some promises he couldn't keep and some hype, which is how you play the game BTW, he's taken on the Big 3 and Boeing and came out on top.

I personally wouldn't invest now though. IIRC its best to wait after 9 months historically speaking.

Musk's ventures are always the outlier, who knows, it could just go to the moon or crater, whatever happens it won't be easily predictable.

 

[dogememe]

If people are dumb enough to put money in his ridiculously overpriced IPO, I guess it might happen.

Sure he says some weird stuff but while he might not personally have invented everything his companies make he seems to be the driving force behind some really brilliant stuff that is a net positive for the world. Obviously I love Teslas but I think Neuralink can improve many lives eventually.

As far as AI goes, well today I forgot I had Grok in unhinged mode and when I asked Grok to navigate to Starbucks it told me maybe Autopilot will yeet me into a ditch so we can get out and drink Pinot Noir directly from the grapes. I told it no we’re going to Starbucks at which point it asked if I’m going to order a rainbow unicorn drink with extra something very inappropriate. So maybe not everything is useful! But at least it’s funny and funny is OK too.

Wondering why the Elon hate. What did he do to you? That's right, absolutely nothing except trigger your jealousy gene.

I mean I do take issue with some comments he makes but no hate, I just roll my eyes, laugh, and move on while enjoying Tesla, Grok, and X. And if I was putting solar or battery on my house I know which system I’d pick!

 

[Dave Hess]

Yes.

 

[charbaby]

It is said that Musk is on pace to be the first trillionaire.

 

[billt460]

Wondering why the Elon hate. What did he do to you? That's right, absolutely nothing except trigger your jealousy gene.

This describes 90%+ of the Elon haters. It's not Elon personally, what he builds, or anything he says or does per say. It could be anybody. It's the fact they hate wealthy people in general, because they have it, and the haters don't.

And they want to see them stripped of it by the government and, "redistributed" . There's a word for that, but if I dare mention it this will become political. Sadly there are more and more people defecting to this camp every year.

 

[dogememe]

This describes 90%+ of the Elon haters. It's not Elon personally, what he builds, or anything he says or does per say. It could be anybody. It's the fact they hate wealthy people in general, because they have it, and the haters don't.

And they want to see them stripped of it by the government and, "redistributed" . There's a word for that, but if I dare mention it this will become political. Sadly there are more and more people defecting to this camp every year.

I think that's why I'm still single haha. I'm sick and tired of those people. Not that I'm rich or successful or anything but I don't hate people that are just because I'm not. Anyway, I'm going off topic...

 

[The_Jeff]

Edison was hated back in the day as well. Someone's going to be on the tip of the spear of technology and the philosophical and societal ramifications take time to catch up, for better or worse.

The IPO is aiming for retail investors, not institutional ones, so it's a meme stock right out of the gate.

 

[billt460]

Edison was hated back in the day as well.........

Agree, but you have to remember that Edison did a few things that earned him at least a little of the hate he managed to generate for himself.... Like electrocuting that poor elephant as a publicity stunt, to "prove the dangers of AC current" that his competitor Westinghouse was pushing for long range power transmission at the time.

 

[Escape08]