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Who cares? Certainly not Musk. He used Tesla to buy Twitter to be a proxy to the president where he has gutted NASA, tax officials and forced business contracts with 50 of so companies worth literally hundreds of billions. He doesn’t give a shit about Tesla it’s an old stepping stone.
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As I understand it, Musk's money comes from loans using Tesla as collateral. If the collateral's value vanishes, banks get hesitant for new loans at least.
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He is chief negotiator between Ukraine and Russia in a war. Finland alone is spending 8.5bn a year on this war.
He owns SpaceX and Starlink satellites. Military systems. He controls the entire American Government budget. He can shutdown American resistance to Russia by apparently emailing any government department. I’m sure to Russia that’s worth more than Tesla alone. He can pay welfare in crypto, forcing the poor to adopt it once he’s gotten in at the bottom for cheap. He can systematically and openly destroy all business rivals and government regulators.
I’m sure banks are terrified of him. He’s also the richest person in the world. You’re telling me the bank isn’t lending money to the richest man in the world?
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The banks are still loaning him money for sure, but at a certain point that's not exactly a good thing for musk. The stock price is what the banks are using as collateral, and with these types of loans the banks have the ability to collect on the loans if the stock devalues past a certain point.
Musk is only the richest man in the world on paper, and that's because Tesla stock is overpriced by several orders of magnitude. If Tesla stock receives a reasonable correction, there's a very good chance that it's going to have a cascading effect on his other forms of collateral.
He and other "billionaires" are a lot like people juggling too many loans using their homes as collateral. And like them if the housing market (economy) collapses they are going to be in really poor positions. It's really just gambling and betting numbers always goes up, just so you don't ever have to pay taxes.
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Pretty sure he can get loans off all his other overvalued businesses that are also propped up with government grants and loans if Tesla disappeared overnight.
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He doesn’t give a shit about Tesla it’s an old stepping stone.
Not exactly, I would even say it's quite the opposite.
The car business of Tesla is one thing, but Tesla is morphing into a whole new company with much wider perspectives than selling EV, and that I doubt Musk doesn't care about.
What Musk can't be bothered with while is playing the diva next to his orange dummy, is the market panicking like it always does the moment things become wobbly and the moment it doesn't understand something, anything. Doing so, they start overselling and that puts Tesla stock at a nice discount... for anyone rich enough and patient enough to buy it at the right opportunity (aka not while it's falling).
That discount will make those already rich people a lot more richer thx to people panicking and thx to the media fueling that panic with their sensationalist headlines. What an amusing coincidence most if not all those turd media also belong to rich people that want nothing more than getting richer themselves.
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