@Rothmus They don't understand how "magical" America is because the only thing they're taught is how evil America is and how Americans ought to feel ashamed because they're not enlightened like Europeans, or Lenin, or Mao.
@monsterhunter45 An action is acceptable regardless of its nature if the person doing it is a Leftist or in one of their currently approved pigeonholes. An action is unacceptable, regardless of its nature, otherwise. Very simple, because it’s not about right and wrong, it’s about dominance.
In what world do you live where the rich aren't taxed. Elon's on track to being the person who will have paid the most taxes in the history of the world.
That statistic Senator Warren keeps throwing around... the average family would have to work 91,000 years to earn as much as Elon paid in taxes for one year.
What did the government do with all that money?
“Elon Musk is a trillionaire.”
As a securities law attorney, please allow me to explain how anyone who says this is basically lying to you:
1. The Securities and Exchange Commission has a myriad of laws that prevent founders and other large stockholders of publicly traded companies from dumping their shares. There are substantial holding period requirements, volume of sales limitations and public reporting obligations for stock sales. Basically, Elon holds largely illiquid shares, he is a “trillionaire” on paper only, and the best analogy is when people peg your net worth based on your home’s market price. That’s not money in your pocket, that’s the house you live in.
2. All that money raised in the IPO? That’s not going into Elon’s pocket like the lying socialist idiots want you to believe. It’s a capital influx that will be used to make more rockets and get more payloads into orbit. It’s a CAPITAL investment—that money is like a business loan, it’s not your money to keep, it’s your money to grow the business.
3. If it WERE legal for Elon to dump his shares, the share price would crash basically instantly and the company could very well fail.
If you bought SpaceX shares in the IPO, congrats. You just bought a lottery ticket, just like Elon. May the odds ever be in your favor.
So the next time someone screeches about how unfair it is that Elon Musk creates wealth that benefits all of humanity, throw the truth back in their faces.
@BlackDumpling@elonmusk Congrats on getting in.
I managed to snag some today, but couldn't participate in the IPO. (I was too honest in the survey questions for bid submission, I guess/)
Elon just created 4,400 millionaires in a single day.
400 of them are now worth over $100 million.
These aren't VCs. They're SpaceX employees, and the list includes welders, technicians, and cafeteria staff, because for two decades the company paid every level of the workforce in stock instead of higher salaries.
Juan Hernandez immigrated from Mexico and took a $28 an hour contractor welding job in 2015. He says he didn't even know what SpaceX was. The company gave him a $10,000 equity grant and let him buy more shares through payroll deductions. That stake is now worth $880,000.
Trevor Hise's parents wanted him to take a stable job at General Electric. He picked SpaceX instead, stayed 12 years, and accumulated over 100,000 shares. At the $135 listing price that's $13.5 million. He's 37 and semiretired. His words: "The magnitude of this has been ridiculous."
The most telling detail came before the listing. Over 100 employees quietly banded together and negotiated a group wealth management deal covering up to $5 billion, because none of them had ever needed a wealth manager before.
Software IPOs have minted millionaires for 30 years. This is the first one where the money went to the factory floor.