• subverted_per@lemmy.blahaj.zone
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    1 hour ago

    It was all for show anyway. He got to be the first trillionaire, and his friends got to sell at the high while leaving pension managers and rubes holding the bag. Hell he probably sold a good bit himself to reinvest in some other scheme. It was a pump and dump scam facilitated by the market.

  • MushuChupacabra@piefed.world
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    2 hours ago

    Normally, performance like that leads to the CEO getting punted.

    Invest in a Fail Upwards billionaire, lose value in your investment.

    Remove Elon Musk from SpaceX, watch your investment grow.

  • ExtremeDullard@piefed.social
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    2 hours ago

    It’s always been pretend wealth anyway.

    Having said that, what “on paper” wealth means is that those ultrarich mofos get to borrow a lot of money from the banks, using their hypothetical wealth as very real collateral, to live their opulent lives without ever paying taxes like the rest of us with a real job.