this post was submitted on 12 Jun 2026
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[–] usernametbd@lemmy.zip 42 points 3 days ago (1 children)

He is as overvalued as his companies. The stock markets speculation and juicing of stock prices on hype is so obscene. Space X lost billions last year. Its road map to profitability is dependent on tech that doesn’t exist yet and government contracts from an over leveraged government and a right wing party rapidly losing favor. Tesla is wildly overvalued as well. He is a hype machine with little substance and his wealth is very tied to that hype. Fuck Elon.

[–] gary_host_laptop@lemmy.ml 14 points 3 days ago (2 children)

you're describing literally every billionaire

[–] usernametbd@lemmy.zip 8 points 3 days ago

True that - Elon is just the most glaring example.

[–] definitemaybe@lemmy.ca 0 points 2 days ago

Most, maybe, but off the top of my head, I can think of two easy counterexamples:

  • Warren Buffett's wealth is in diverse investments; it's only inflated insofar as the entire stock market is overvalued
  • Gabe Newell's wealth is almost entirely in Steam, which isn't even publicly traded so can't really be overvalued by "hype"