Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Spend Elon Musk's Fortune

spend-elon-fortune.com

Post reply on HN
Print view View original

1–7 of 7 posts

Re: Spend Elon Musk's Fortune

#3

Post by metadat »

$2.4B for an NBA team? Those stack up quickly to drain the ol' bank account: buying 10 cost me around 8% of my stack! And that's only .. 33% of all teams in existence (there are 30 in total). So, for only 24% of Musk's net worth, he can buy the entire NBA.

No single person needs this much money when there are still people starving to death and dying of basic diseases. Unless..

Re: Spend Elon Musk's Fortune

#6

Post by sky2224 »

Okay genuinely, what stops billionaires from cashing out their assets? At some point, I really wouldn't care about getting another few billion from holding onto some asset, so I wouldn't mind just having that in liquid cash. Granted, I know you can't just have one bank account, but why not just spread it over thousands of bank accounts?

Re: Spend Elon Musk's Fortune

#7

Post by bongoman42 »

sky2224 wrote: post #6

Okay genuinely, what stops billionaires from cashing out their assets? At some point, I really wouldn't care about getting another few billion from holding onto some asset, so I wouldn't mind just having that in liquid cash. Granted, I know you can't just have one bank account, but why not just spread it over thousands of bank accounts?

Because the asset price would crash if they tried to cash it. One is simply it would crash from the supply of that asset, but also it reflects to the broader public that the asset holder values cash higher going forward than the other asset which means that others would use that signal to value cash higher as well leading to a snowball effect.
Post reply on HN