Musk doesn’t have hundreds of billions in cash, but he does have hundreds of billions in buying power.
The way the CEO/elite stock-holding class does this is by borrowing against the stock as collateral. That way they incur zero tax for capital gains, have zero direct exposure, and since banks specially cater to the ultra-wealthy with relationship managers, they basically have concierge-like access to whatever funds they want correlated perfectly with that magical “imaginary” wealth valuation.
This is why I want to forcibly dissolve the stock market with no chance of liquidation. Imagine how many of these fuckwits would kill themselves if the stock market servers and it’s backups were destroyed.
“Billionaires don’t actually have cash.”
“If you taxed them they’d have to sell stock and it would crash the market.”
Right? “Only on paper” appears to be at least somewhat inaccurate.
Musk doesn’t have hundreds of billions in cash, but he does have hundreds of billions in buying power.
The way the CEO/elite stock-holding class does this is by borrowing against the stock as collateral. That way they incur zero tax for capital gains, have zero direct exposure, and since banks specially cater to the ultra-wealthy with relationship managers, they basically have concierge-like access to whatever funds they want correlated perfectly with that magical “imaginary” wealth valuation.
This is why I want to forcibly dissolve the stock market with no chance of liquidation. Imagine how many of these fuckwits would kill themselves if the stock market servers and it’s backups were destroyed.
Which means they could pay taxes using the same trick.
Where is this guy supposed to come up with 5% of his wealth in the next 5 years?? He’s clearly got huge ad buying bills to pay. Poor chap.