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According to Elon Musk’s own math, the company formerly known as Twitter has lost 90% of its value and could be worth just $4 billion (finance.yahoo.com)

submitted 1 year ago by bernieecclestoned@sh.itjust.works to c/technology@lemmy.world

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[–] SpaceCowboy@lemmy.ca 14 points 1 year ago (1 children)

With $40 billion you could give a random person $1 million today. Then give another person $1 million the next day. And so on, for 100 years.

And you'd still have a private jet, a bunch of mansions, a fleet of luxury cars, and a bunch of yachts.

It's completely bizarre that a billionaire that's so desperate to be popular doesn't just give money to people. They don't want to give up the power that wealth gives them and so try to trick people into liking them.

[–] CharlesDarwin@lemmy.world 3 points 1 year ago

I'm assuming he could still be accruing wealth if he did that.

Assuming he made at least 5% or so per year on investment income, that would be 2 billion, and if you assume a 20% tax rate on that, it would be 1.6 billion, still more than 365 million it would take to give away one million every day.

And so if he could live on less than ~1.2 billion per year, he'd still be gaining wealth...