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Posted on 6/12/26 at 9:17 am to Chucktown_Badger
quote:
Serious question, can you tell me how that setup works? I get using your owned assets as collateral, but at some point those loans need to be paid off. How are they paid off? What money is used to do so? And if it cash, then why would they need to take out loans in the first place?
buy, borrow, die.
If the stock continues to appreciate, he can often replace old loans with new ones or borrow more. He'll just do this until he dies then his estate will settle the loans after he's gone so he never has to pay taxes on the money he spends while he's alive.
Posted on 6/12/26 at 9:20 am to UFFan
quote:
The Rothschilds still have power
Old money has connections. Nothing new
What they don't have is anything close to a trillion dollars
$400 billion is still a lot but again, that is if you gathered the roughly 300 alive descendants all into one place. Do you think 300 people could all agree on one thing and move the world as one man with a trillion can? The answer is no.
Posted on 6/12/26 at 9:24 am to RLDSC FAN
quote:
trillionaire
Just think if he had a trillion dollars in cash.
This post was edited on 6/12/26 at 9:51 am
Posted on 6/12/26 at 9:25 am to Byron Bojangles III
quote:
buy, borrow, die.
If the stock continues to appreciate, he can often replace old loans with new ones or borrow more. He'll just do this until he dies then his estate will settle the loans after he's gone so he never has to pay taxes on the money he spends while he's alive.
I guess I get it but I'm not sure how that makes sense. But if you're not in danger of running out of money, it seems a bit odd and unnecessary. And obviously the estate will pay more in the end than if he just funded his lifestyle like everyone else (including any taxes).
Posted on 6/12/26 at 9:26 am to Tarps99
quote:
Just think if he a trillion dollars in cash.
What's crazy to think is that one man has CREATED that much in wealth, and our government has us IN THE HOLE to the tune of about 40x that.
The government can only take wealth created by working people, it does not create it.
This post was edited on 6/12/26 at 9:29 am
Posted on 6/12/26 at 9:27 am to Chucktown_Badger
quote:
And obviously the estate will pay more in the end than if he just funded his lifestyle like everyone else (including any taxes).
Not 100% accurate.
quote:
Impact on the Estate & Heirs
Stepped-Up Basis: Under current IRS tax law, any unrealized capital gains accrued during the owner's life are essentially wiped out. The assets receive a "stepped-up basis," meaning the cost basis of the assets is reset to their fair market value at the time of the owner's death.
Zero Capital Gains Tax: Because the cost basis is stepped up, the estate can sell the assets to pay off the bank loans without owing any federal capital gains taxes. The remaining assets are then distributed to the heirs.
Estate Tax Check: If the total net value of the estate (assets minus the loans) exceeds federal estate tax exemption limits, the remaining estate may be subject to federal estate taxes.
Posted on 6/12/26 at 9:31 am to Sun God
quote:
saw something pretty crazy the other day, if Elon Musk gave everyone on earth a million dollars he would still be a billionaire Makes you think
I hope this is sarcasm. Otherwise it makes me think most people can't do basic math
Posted on 6/12/26 at 9:43 am to Darth_Vader
quote:
Can one of the OT moderates help me understand why I should hate Elon Musk for being a trillionaire. Did he go into my bank accounts and steal money from them to gather his wealth? How does his financial situation affect mine?
About the same as if the net worth of every man, woman and child in the country went up by a dollar or two.
Elon Musk being a trillionaire on paper, at worst, is not something anyone should care about. At best it’s something to be lauded because whatever you think of him personally, he’s certainly earned it.
But of course, it will be presented as commie rage fuel and another reason to hate the guy.
Posted on 6/12/26 at 9:45 am to Tarps99
The 4 comma club now has a single member.
I’d say he deserves it with the Visionary Approach and work ethic.
I’d say he deserves it with the Visionary Approach and work ethic.
Posted on 6/12/26 at 9:51 am to RLDSC FAN
quote:
There only 8 billion people in the world. Musk could give everyone a billion dollars and still have 992 billion left.
--some dirty hippy
Posted on 6/12/26 at 9:53 am to TigerBear1971
quote:
Mind bending to think there's nothing on planet Earth he can't purchase. Bizarre.
He can't buy his own soul
Posted on 6/12/26 at 9:54 am to Sun God
The stock market is only for rich people. - Byron Bojangles III
Posted on 6/12/26 at 9:55 am to theunknownknight
What's your biggest complaint and rant about the guy?
Posted on 6/12/26 at 10:04 am to TigerBear1971
quote:
What's your biggest complaint and rant about the guy?
I know that question wasn't directed at me, but mine would be that he gained a lot of momentum and wealth thanks to our government who put in taxpayer funded incentives to push people toward electric vehicles (take a guess which party did that). That being said, he's a capitalist and took advantage to create something.
Posted on 6/12/26 at 10:05 am to NIH
quote:
The stock market is only for rich people. - Byron Bojangles III
All progs think this way
Posted on 6/12/26 at 10:07 am to TigerBear1971
quote:
What's your biggest complaint and rant about the guy?
I don't have one
Posted on 6/12/26 at 10:07 am to Chucktown_Badger
quote:
that he gained a lot of momentum and wealth thanks to our government who put in taxpayer funded incentives to push people toward electric vehicles
Every other car company in the world tried to take advantage of that too and failed.
Posted on 6/12/26 at 10:07 am to Darth_Vader
quote:
Did he go into my bank accounts and steal money from them to gather his wealth?
How much do you like paying taxes?
How much did you like paying taxes to fund space exploration and satellite launches when those things were done by NASA with your tax dollars? At least that belonged to the government and not any highest bidder.
How much do you like paying taxes to fund space exploration and satellite launches when those things now belong to a private company?
quote:
SpaceX has accumulated an estimated cumulative total of over $22 billion in federal government contracts, heavily depending on these funds for more than 75% of its total revenue. The company secures between $3 billion and $4+ billion annually through various active contracts with NASA, the Department of Defense, and the Space Force.Key Annual & Active AgreementsThe majority of SpaceX's funding originates from multibillion-edge indefinite-delivery/indefinite-quantity (IDIQ) structures and major mission pipelines:Space Force & Defense: SpaceX holds multi-billion commitments for the Space-Based Advanced Moving Target Indicator (SB-AMTI) for threat tracking, alongside a $2.29 billion agreement for a secure Space Data Network.NASA Space Operations: The agency consistently obligates hundreds of millions to billions annually for Crew Dragon transport and Cargo Resupply Services (CRS) to the International Space Station.Artemis Program: SpaceX serves as the developer for the Artemis human lunar landing system, with active contract components valued at over $4 billion
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