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The collective wealth of the 4 richest U.S. billionaires surpasses $1 trillion dollars for the first time ever.
(lemmy.world)
362 + 240 + 215 + 202 = 1019 billion
this post was submitted on 07 Dec 2024
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The value of Elon's companies is fake. Its whatever the vibe machine says it is.
Tesla has a market capitalization of 1.22 TRILLION dollars. I don't like the guy either but you need to have a basic level of understanding of economics to offer critique, sorry.
The market cap exists because Musk has lobbied the government to not allow Chinese cars that are way cheaper and have better Quality Control. So most people have to purchase one of his electric lock only, semi-trucks-are-the-sky death boxes. They will always have problems because they are always parsing raw video data since they use such cheap cameras. You can believe what you want, but Musk sits on a cardboard throne that he did not even earn by legitimate means. Tesla is not a superior product, its one of the only products allowed in town.
Can you use your basic level understanding of economics to explain why Tesla has a market capitalization of more than the next dozen or so automotive companies COMBINED?: https://companiesmarketcap.com/automakers/largest-automakers-by-market-cap/