Originally Posted by herremans (Post 2117172)

Al kaline thought that no baseball player was worth 100000 ,now peeple are getting a couple hundred mill (inflation)

Originally Posted by Luggage (Post 2117182)

For sure he's no Warren Buffett

Originally Posted by MartinSE (Post 2117014)

First, as one of the richest men in the world, I will respect his financial planning over any random stranger on the internet.

He did not confide in me on why he wanted Twitter, but $44B is pocket change, so it may have been nothing more than a political statement.

Twitters assets are its clients, that is what he was buying. He said that he had reason to believe they lied about actual numbers or real clients, and many of the accounts were bots. If the lied, that would invalidate the contract.

I have not idea if he is a business genius, but he has innovated several high tech fields more than anyone ever. He is the only viable launch system the US has right now, is offering a global internet to people that never had it before, is perfecting brain computer interfaces, has demonstrated a viable EV, is drilling tunnels faster and cheaper than anyone, has a new cell phone in development, and is preparing a personal robot for sale. If he feels like making a $44B political statement with his petty cash, I don’t see any reason I would want to figure out why…

Originally Posted by Luggage (Post 2117181)

Elon musk only put up 5% of the $44 billion, the banks are putting up the rest so he put up about two and a half billion out of his assets, so I would say that's like you or me buying a car for 1,000 down that's worth $45,000, wouldn't you consider that pocket change???

Originally Posted by jammaiora (Post 2117192)

Remember, Tesla is what it is today because our government bailed him out to get the company up and running. He may be a "genius" with innovative ideas but I don't think he is a financial genius!

Originally Posted by retiredguy123 (Post 2117193)

No, not if he borrowed the money from the banks and needs to pay it back.

Originally Posted by The Chipster (Post 2117207)

Elon was my hero for a long time. But then, hubris started creeping in to his persona. He decided he was so rich that certain laws (such as the covid regulations in CA) didn't apply to him. He ****ed all over the SEC which thankfully regulates our stock market. Now every time we see him he is dancing and prancing on stage like a Broadway queen with a stupid grin on his face. The whole thing with Twitter is indicative of poor planning and a super-inflated ego. And he is slowly thinking he can effect American politics, God forbid. He needs to take some lessons from Warren Buffett.

Originally Posted by The Chipster (Post 2117207)

Elon was my hero for a long time. But then, hubris started creeping in to his persona. He decided he was so rich that certain laws (such as the covid regulations in CA) didn't apply to him. He ****ed all over the SEC which thankfully regulates our stock market. Now every time we see him he is dancing and prancing on stage like a Broadway queen with a stupid grin on his face. The whole thing with Twitter is indicative of poor planning and a super-inflated ego. And he is slowly thinking he can effect American politics, God forbid. He needs to take some lessons from Warren Buffett.

Originally Posted by ThirdOfFive (Post 2117021)

Elon has the Midas touch. Anyone who can go from (relative) obscurity to the richest person in the world with a net worth of 233.7 bn. doesn't have much to prove to anyone.

Originally Posted by allsport (Post 2117233)

His midas touch was fuelled by family wealth from South Africa. No one who thinks he should spread his seed around as much as possible is fit to be called a genius. Narcissist is more appropriate including the observations that he has strong spectrum affinities.

Originally Posted by MartinSE (Post 2117210)

Why not? l seriously. Companies borrow money for expanion, development, etc all the time because it is cheap money. Oil companies are not drilling in the US right now because the banks that finance drilling took a beating last time they went on a drilling spree. Borrowing money is a fine old fashion financial strategy. If borrowing is cheap than taking cash out of something else it is a good idea.

So, now everyone can explain why it was a bad idea for Musk, because everyone else understands the intimate details of his holdings.