[Luggage]

For sure he's no Warren Buffett

[Topspinmo]

Originally Posted by herremans

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

Fans are the gullible ones. Watching a kids game at overinflated price.

[Topspinmo]

Originally Posted by Luggage

For sure he's no Warren Buffett

Agree, he pays more taxes than his secretary…..

[jammaiora]

Originally Posted by MartinSE

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…

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!

[retiredguy123]

Originally Posted by Luggage

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???

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

[Dantes]

Facebook is just a website

[MartinSE]

Originally Posted by jammaiora

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!

I haven't looked lately, but as far as I know he paid back any loans he got. Same as GM, shall we compare growth rates between Tesla and GM?

[The Chipster]

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.

[MartinSE]

Originally Posted by retiredguy123

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

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.

[Wyseguy]

Originally Posted by The Chipster

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.

Why should Twitter or Facebook affecting politics be any different than Musk? Musk seems to be for free speech at least.

[Petersweeney]

This is my twitter……

[MartinSE]

Originally Posted by The Chipster

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.

I see so HE should take advice from YOU on how he should behave. How American of you to tell someone else what they should and should not do.

[allsport]

Originally Posted by ThirdOfFive

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.

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.

[MartinSE]

Originally Posted by allsport

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.

What has being on the spectrum have to do with anything?

[retiredguy123]

Originally Posted by MartinSE

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.

I was just saying that, if he borrowed the money, it is not pocket change. He is still spending $44 billion. I didn't say that borrowing money, in general, was a bad idea.