641–650 of 1001 posts
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That only works until Trump finishes purging the upper ranks of the military, and then gets the Senate to promote Trump loyalists to take their place.
What is a "loyalist"? What president has not put in place people that are loyal to him?
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He only holds ~15% of Tesla. His real money is in SpaceX... 50% ownership there. I wish people would think just a little before parroting the "hit Musk where it hurts" drivel.
My quick search is showing Tesla is worth some $800B. 15% of that is real money.
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The government spends 1 out every 5 dollars of GDP. It probably does need a better mechanism for managing costs and outlays. Having one of the "richest men in the world" be in charge of it is ridiculous. That's Trump for you. Populism up front, oligarchy in the back.
Not sure that tracks. Oligarchy is generally how people who don't deserve wealth can get it. As pointed out by you, that doesn't exactly apply to the world's (already) richest man. And who exactly would you look for to help the federal government build "a better mechanism for managing costs and outlays", if not someone who has built multiple successful businesses (managing costs and outlays at impressive scale) in ve…
No that's just one of it's outcomes. The proper definition would be "a small group of people having control of a country, organization, or institution."
> that doesn't exactly apply to the world's (already) richest man.
Given the appropriate definition and his involvement in owning not only a social media company but also having a role in federal government policy and now apparently investigations I am completely baffled by your assertion.
> And who exactly would you look for to help the federal government build
I figured someone would summon this fallacy. He has acquired wealth. This does not demonstrate any skill in spending tax payer money efficiently in a regulated environment. This is particularly true if you're willing to assume that oligarchy played some part in his acquisition in the first place.
> if not someone who has built multiple successful businesses
He likes to call himself a founder. Of business that already existed and he purchases a controlling share in. It's amazing that people accept this distortion of reality.
> managing costs and outlays at impressive scale
Presumably he has people on the payroll who do this. I imagine that the entire financial success of these companies is not down to a single person. How does he find time to do anything in a day?
I imagine the federal government could, you know, just do the same thing. Hire qualified professionals to do the job?
> Not sure that tracks.
Outside of the reality distortion field that some people willingly occupy it most certainly does.
So he just sold himself a company he already owns for a valuation that he himself assigned to that company but that was less than what he paid for it, and he paid entirely using “money” that has a made up value and which he issues himself? Wild.
But all the armchair business experts assured me that the value of Twitter had completely tanked since Elon bought it because he’s such a stupid fool who ruins everything, so shouldn’t it be worth less? Just a few months ago everyone was confident it was only worth $8 billion. He valued it at the same price minus debt.
In similar news: my left hand acquired my right hand today in an all stock deal valuing the combined hands at $1T. Praising the announcement my arms noted on the deal: “With these two hands now together, there’s nothing our combined fist of might can’t do.” Competitors, my left and right feet, declined to comment on the merger but are said to be in their own separate talks about a deal.
right but you don't have $1T to do that, whereas clearly he has however much money he's paid for it. it's a weird thing to do, but if he has the money to do it then meh?
So he just sold himself a company he already owns for a valuation that he himself assigned to that company but that was less than what he paid for it, and he paid entirely using “money” that has a made up value and which he issues himself? Wild.
The value of Twitter was set when the bonds used to finance the purchase were sold recently for 97cents on the dollar.
When debt is worth near par that only means that equity is very likely positive (not null). Doesn't tell you anything about how positive.
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There's a margin on TSLA stock at $112 or $115; Like some other commentator said as well - he collateralled TSLA stock to take a loan to buy Twitter.
What happens if you collateral a stock for loan and the stock somehow becomes worthless?
This is why mortgage lenders require you to maintain insurance on your property: if the house burns down or something, the lender still wants that money. If a house gets destroyed in a way that's not covered by insurance (say, by an earthquake in California, where most people don't have earthquake insurance), then the lender loses their money. (The former homeowner probably stops payments and gets their credit ruined.)
So he just sold himself a company he already owns for a valuation that he himself assigned to that company but that was less than what he paid for it, and he paid entirely using “money” that has a made up value and which he issues himself? Wild.
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It bails out Elon and means his Tesla shares (borrowed against to purchase Twitter) won’t be liquidated as Tesla’s share price continues to decline, using xAI investor funds. He uses hype and sentiment (inflating valuations) in the capital markets to always stay slightly ahead of consequences.
Tesla shares are higher now than they were when he closed on Twitter in October 2022.
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The elections are already being taken over .. in newspeak of course. PRESERVING AND PROTECTING THE INTEGRITY OF AMERICAN ELECTIONS ~ https://www.whitehouse.gov/presidential-actions/2025/03/pres... The sweeping 12-page order contains a number of provisions, including a documentary proof of citizenship requirement to vote in federal elections as well as a requirement that all ballots be received by Election Day – both…
He already said if he won you would never have to vote again but for some reason people didn't take him seriously.