from Hacker News

A website to spend Elon Musk's fortune

by tlochhead on 7/8/21, 1:51 PM with 26 comments

• by reco on 7/8/21, 4:01 PM

  The comments here miss the point. Sure you can’t cash out all your stock at once without serious effects.

  There is no need to sell any stock though to access insane wealth. I racked up a bill on that site worth 5% of Elon’s value and went pretty wild. Elon could easily tap into that wealth tomorrow with a loan from a bank backed by collateral from his stock without selling a thing. So he maintains control of his companies, doesn’t pay taxes (as he sold nothing), and can literally buy anything he could ever imagine without having any serious effect on his net worth

• by zepto on 7/8/21, 3:04 PM

  This kind of stuff is silly and damaging propaganda. It distracts people from what being a billionaire means.

  If Elon cashed out his stock he would no longer have control of SpaceX and Tesla. Those are literally what he is doing with his money.

• by thebean11 on 7/8/21, 2:46 PM

  Clicking "Buy" on the private island as fast as I can and not moving the needle really illustrates how big that number is..

• by fnfs2000 on 7/8/21, 3:46 PM

  Of course he couldn't dump all his stock at it's current share price, the sudden arrival of that many shares would drive the price down -- but these things aren't really about facts and more about driving an agenda

• by Zachsa999 on 7/8/21, 5:47 PM

  Chuckling with glee and buying all of NBA.

  Cries when remembers that it's not my money.

• by Kim_Bruning on 7/8/21, 5:01 PM

  If I were Elon Musk I'd spend all my money on setting up a Mars colony.

  Is it just me?

• by PhrosTT on 7/8/21, 3:32 PM

  He can't even afford to buy the NBA and NFL. What a loser.