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
You never have to pay back the loan yourself. Just make small monthly payments and refinance until death. This is actually a pretty widely-exploited part of our tax system, for very high net worth people.
Great! Now how do we pick which lucky 20 people get to spend the wealth?
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.
Cries when remembers that it's not my money.
Is it just me?
