This is a most excellent place for technology news and articles.
No it doesn't because he doesn't get any money from the IPO, he gets money from selling the shares, the initial evaluation can be whatever the hell it wants to be.
The best he can do with this is use it as collateral in order to get a loan to by a helicopter, which he could probably already do, so nothing's really changed for him.
Let's normalize calling him a theoretical trillionaire. Economics tells us that the only way to determine the price of something is to auction it. But the price is determined at the moment of actualized sell, not at what other people payed for similar objects.
Congrats to all the cunts investing in a Nazi. Pieces of shit.
If you have a retirement account or an index fund you are one of those cunts
You can direct your provider to invest however you personally feel comfortable. But it's incredibly boring for most people to have to administer this and the whole point of a pension fund is you don't have to worry about it. Otherwise I might as well play the stock market myself.
A lot of pension managers now are starting to become increasingly wary of AI and "fledgling startups" that have been going for 20 years and have still yet to generate a profit
Not me; I contacted my pension fund last week to move it entirely out of equities and into bonds & cash.
Which is no guarantee, but... I'm not close enough to retirement that this would normally be sensible, but I know I'm close enough that I'd never earn back the losses from the mother of all crashes that is riding into view on the back of these IPOs (and the "I can't believe it's not a crime!" changes to index rules to fast track this nonsense into trackers, guaranteeing that pension funds and the like will be left holding the bag.)
I’m too poor to have any kind of financial stability! Fuck me, right?
It sucks nobody has been successful in offing him.
They have, he just has access to the medbay beds Trump used to talk about.
1 million seconds is 11.5 days.
1 billion seconds is 31.7 years.
1 trillion seconds is 31,688 years.
This is an affront to decency, morality, ethics, and humanity. It cannot be allowed.
Kneecapped at a minimum truly.
Who even gives a shit at this point. It's almost laughable. The stock market creates money from thin air without any sensible valuations anymore. Could be a decidillionaire at this point and nothing would change.
Governments should really find a way to tax unrealised gains. Then this fiesta would end quickly.
Governments should really find a way to tax unrealised gains. Then this fiesta would end quickly.
They already do for a lot of middle class people. They're called property taxes and they're reassessed regularly (usually up) based on change in market value and not realized gains. We need something like that for billionaires.
But you know, conservatives think taxing rich people is unpatriotic and stuff :>
My man, my stock market portfolio could go up when Trump tweets about a deal, get hit by a huge tax, then I won't have the money to pay the tax when it turns out there's no deal
Taxes can be variable depending on income, net worth, number of children, nipple circumference, or any other measure we decide to use. Don't talk about them like you're in the same category as Elon Musk because there are very few categories in which that is true.
Just make it illegal to use unrealized stocks as collateral for loans and credit.
But they never just pass a tax that only affects the wealthy. I ended up paying AMT one year because I had capital gains. I think that's ridiculous because it was meant to affect only rich people and I had a one time windfall
That dipshit junkie hasn't OD'd himself yet?
This asshole deserves a trillion years in jail.
It fucking bullshit. They can say worth quillion dollars doesn't make it fact.
That doesn't stop him from borrowing real money from real banks using this supposedly imaginary stock value as collateral. I'm sure he's more than happy for people to call it fake news while he buys yachts and islands and surrogate mothers with that money.
Who is he ? A scammer or ?
The unchallenged winner of capitalism. Wow. Now let's restart the game.
You know how you can put something on eBay for any amount of money? Of course it won't sell if it's priced too high, but the price can be set however.
Then people with random items go on eBay. They see their item priced at some exorbitant level and make the jump: "this thing is worth so much money!" Even though it isn't worth that. It never sold for that. Someone just picked a number.
Starting to feel like this is how valuations work.
Except they can force you through retirement funds to buy it regardless.
On today's edition of Hoarders
That's gross
At the start of trading maybe. But what about by market close?
No idea
He's still alive so i'm just waiting for that to change, him being the world's biggest douchebag is not important.
There are 20 billion $100 USD notes in circulation.
This motherfucker has half of them.
That’s not how spreadsheets work
SpaceX IPO makes dickMusk a bigger 🎯
