Let's talk about Musk losing a fortune....
Belle of the Ranch
Belle of the Ranch
4.9 • 1K Ratings
🗓️ 7 January 2023
⏱️ 7 minutes
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Summary
Let's talk about Musk losing a fortune....
Transcript
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| 0:00.0 | Well, howdy there internet people, let's bow again. So today we are going to talk about |
| 0:07.3 | Elon Musk becoming the biggest loser of wealth ever. |
| 0:14.5 | Reporting has come out that suggests he's lost a couple hundred billion dollars and |
| 0:21.8 | that it has crossed the point and he has now lost more wealth than any other person. |
| 0:30.0 | Now that in and of itself it is what it is that that alone the only real commentary there is somebody can lose a couple hundred billion dollars and still be one of the richest people on the planet. |
| 0:43.2 | That might indicate a systemic wide failure, but this news has prompted a couple of people to ask a question and that's is this the effect of go-fash no cash |
| 0:59.6 | Because since he bought Twitter there has been the perception that he is openly aligning |
| 1:06.6 | with the far right. |
| 1:09.6 | So is this go-fash no cash? Yes, but also no. It's not entirely that. In fact, I don't even know that |
| 1:20.6 | that's the majority of it yet. So part of it, a big part, maybe the |
| 1:27.4 | majority I didn't actually do the numbers, but I would guess that this is most of it, has to do with the fact that he is a genius |
| 1:34.9 | just not the kind that people think. |
| 1:37.6 | Musk is a marketing genius. |
| 1:42.1 | He really is. It doesn't matter if you don't like him. He's really good at that. |
| 1:47.0 | This led to Tesla being valued at like around a trillion dollars. |
| 1:55.0 | There was a point in time where Tesla was valued at more than all the other big carmakers combined. |
| 2:09.8 | At some point people started to question whether or not that valuation was the right amount, |
| 2:18.0 | whether or not the company itself really was worth that much and when they started to question that the |
| 2:27.3 | stock started to decline. This happened before the Twitter buy. So it started going down prior and that's just a normal |
| 2:40.6 | correction. Then you have what happened with Twitter. He bought |
| 2:46.3 | Twitter in the process of this he winds up selling a bunch of Tesla stock which didn't help at stock price, which further deflated the value |
| 2:59.6 | and his wealth. |
... |
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