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(NPR)   And just like that, Elon went from Lex Luthor to Tony Stark   (npr.org) divider line
    More: Interesting, Famine, Poverty, World Food Programme, Malnutrition, Starvation, Elon Musk, Food security, head of the U.N. food agency  
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1738 clicks; posted to Business » on 11 Nov 2021 at 2:38 PM (10 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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View Voting Results: Smartest and Funniest


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2021-11-11 1:44:33 PM  
That would buy 3 billion double cheeseburgers at McDonald's.  He could feed all the starving people in India for two days.
 
2021-11-11 1:55:02 PM  
So far, Musk has made no commitments to the agency.

So less Tony Stark and more person who got pissy that someone else called out their hoarding of wealth, issued a "Ohh yea, show me then!" and most likely won't do shiat about it when actually shown.

/Prove me wrong Elon!
//Prove me wrong!
 
2021-11-11 2:04:26 PM  

The Googles Do Nothing: That would buy 3 billion double cheeseburgers at McDonald's.  He could feed all the starving people in India for two days.


LOL's

/ that's beautiful, man
 
2021-11-11 2:06:54 PM  
Don't be an idiot subby.  He just lost 50 billion, or whatever based on market confidence and such crap.  This is a marketing donation to get investors to believe again.

Granted, it's better than his past illegal moves to attempt to manipulate the market.
 
2021-11-11 2:09:03 PM  

scottydoesntknow: So far, Musk has made no commitments to the agency.

So less Tony Stark and more person who got pissy that someone else called out their hoarding of wealth, issued a "Ohh yea, show me then!" and most likely won't do shiat about it when actually shown.

/Prove me wrong Elon!
//Prove me wrong!


I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism. Presumably, like any intelligent person, Musk has his free capital in the farking bank, where he can earn interest on it, and where the bank can use it for loans to fund other people in their endeavors. If that is not the case, then please show the class where Elon's farking Scrooge McDuck money vault is. Thank you so much.
 
2021-11-11 2:12:44 PM  
Fark user imageView Full Size
 
2021-11-11 2:21:22 PM  

Harlee: scottydoesntknow: So far, Musk has made no commitments to the agency.

So less Tony Stark and more person who got pissy that someone else called out their hoarding of wealth, issued a "Ohh yea, show me then!" and most likely won't do shiat about it when actually shown.

/Prove me wrong Elon!
//Prove me wrong!

I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism. Presumably, like any intelligent person, Musk has his free capital in the farking bank, where he can earn interest on it, and where the bank can use it for loans to fund other people in their endeavors. If that is not the case, then please show the class where Elon's farking Scrooge McDuck money vault is. Thank you so much.


All that bolding and underlining because your pedant meter was triggered over the use of a single word.

You completely missed my point that he has not committed a dime to fighting world hunger (as implied by the headline) and instead focused on the belief that you have to have a vault of gold coins you can dive into to be considered "hoarding" wealth. It's not like he has more money than 99.9999999% of the world and barely does anything with it other than making more money or doing stuff that benefits him the most. Same with Bezos. You won't hear me say it about Buffett or Gates, as they actually donate a large portion of their wealth to other causes beyond themselves.

So congratulations on completely missing the forest for the trees and defending a poor multi-multi-multi billionaire from Farkers accusations of "hoarding" his vast amounts of money for himself. Way to go!
 
2021-11-11 2:34:03 PM  
This song about him is rather clever.  NSFW language I gess.
penelope scott // rät (lyrics)
Youtube KqyXvMrQDk8
 
2021-11-11 2:36:10 PM  
Fark user imageView Full Size
 
2021-11-11 2:46:58 PM  
42 million lives that are knocking on famine's door, could breed up to how many more lives in the next 10 years?
The planet is littered with the dead.
If you want quality of life, it must be sustainable.

Give a man a fish or teach him.

But we could soon run out of fish if we just keep breeding like a cancer.

I'm in an area where I can walk around and meet all sorts of people that should not be taking up space.
Sooner or later, we all die.

In Pennsylvania, they die fat.
If not fat, in a nursing home.
The fat ones never make it that far.
 
2021-11-11 2:49:23 PM  

scottydoesntknow: Harlee: scottydoesntknow: So far, Musk has made no commitments to the agency.

So less Tony Stark and more person who got pissy that someone else called out their hoarding of wealth, issued a "Ohh yea, show me then!" and most likely won't do shiat about it when actually shown.

/Prove me wrong Elon!
//Prove me wrong!

I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism. Presumably, like any intelligent person, Musk has his free capital in the farking bank, where he can earn interest on it, and where the bank can use it for loans to fund other people in their endeavors. If that is not the case, then please show the class where Elon's farking Scrooge McDuck money vault is. Thank you so much.

All that bolding and underlining because your pedant meter was triggered over the use of a single word.

You completely missed my point that he has not committed a dime to fighting world hunger (as implied by the headline) and instead focused on the belief that you have to have a vault of gold coins you can dive into to be considered "hoarding" wealth. It's not like he has more money than 99.9999999% of the world and barely does anything with it other than making more money or doing stuff that benefits him the most. Same with Bezos. You won't hear me say it about Buffett or Gates, as they actually donate a large portion of their wealth to other causes beyond themselves.

So congratulations on completely missing the forest for the trees and defending a poor multi-multi-multi billionaire from Farkers accusations of "hoarding" his vast amounts of money for himself. Way to go!


Words have meanings. You should learn what the are.
 
2021-11-11 2:52:39 PM  

vudukungfu: 42 million lives that are knocking on famine's door, could breed up to how many more lives in the next 10 years?
The planet is littered with the dead.
If you want quality of life, it must be sustainable.

Give a man a fish or teach him.

But we could soon run out of fish if we just keep breeding like a cancer.

I'm in an area where I can walk around and meet all sorts of people that should not be taking up space.
Sooner or later, we all die.

In Pennsylvania, they die fat.
If not fat, in a nursing home.
The fat ones never make it that far.


I'm just gonna not have kids and run out the clock. Good luck.
 
2021-11-11 2:53:18 PM  

Harlee: I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism.


Tell me you're not arguing in good faith in five words or less.
 
2021-11-11 2:54:50 PM  
Hint:  throwing money at the problem solves nothing.   a bandaid on an artery.

the Key is preventing the Vultures on capital hill from blowing all our public money on frivolous crap while at the same time allowing us the resources to work with other countries to solve their (and our) problems.

as long as big business and the 1% are sucking US dry, we  will never have the resources to do these things.

i know, no fun in that.
 
2021-11-11 2:57:18 PM  
Fark user imageView Full Size
 
2021-11-11 2:58:34 PM  
Are there some more TSLA stock options due?
 
2021-11-11 2:59:46 PM  
Norman Osbourne... Not Tony Stark.
 
2021-11-11 3:02:20 PM  
i do believe the specific version of tony being referenced here must be this one:
geekologie.comView Full Size
 
2021-11-11 3:02:22 PM  
stayhipp.comView Full Size
 
2021-11-11 3:03:29 PM  

The Googles Do Nothing: That would buy 3 billion double cheeseburgers at McDonald's.  He could feed all the starving people in India for two days.


That would ... actually make a difference?

I mean, even McDonald's wouldn't charge you retail for that many burgers, so the calculation is off, of course. But that's a billion people fed, for three days. That's a good thing. A very good thing. It's certainly better than a billion people starving for three days.
 
2021-11-11 3:04:09 PM  

Harlee: scottydoesntknow: So far, Musk has made no commitments to the agency.

So less Tony Stark and more person who got pissy that someone else called out their hoarding of wealth, issued a "Ohh yea, show me then!" and most likely won't do shiat about it when actually shown.

/Prove me wrong Elon!
//Prove me wrong!

I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism. Presumably, like any intelligent person, Musk has his free capital in the farking bank, where he can earn interest on it, and where the bank can use it for loans to fund other people in their endeavors. If that is not the case, then please show the class where Elon's farking Scrooge McDuck money vault is. Thank you so much.


STFU, sealion.
 
2021-11-11 3:05:01 PM  

vudukungfu: 42 million lives that are knocking on famine's door, could breed up to how many more lives in the next 10 years?
The planet is littered with the dead.
If you want quality of life, it must be sustainable.

Give a man a fish or teach him.

But we could soon run out of fish if we just keep breeding like a cancer.

I'm in an area where I can walk around and meet all sorts of people that should not be taking up space.
Sooner or later, we all die.

In Pennsylvania, they die fat.
If not fat, in a nursing home.
The fat ones never make it that far.


How do you propose we stop impoverished people from having babies?
 
2021-11-11 3:06:00 PM  
Musk needs to:

(1) grow up
(2) shut up
(3) pay his taxes without whining about it
 
2021-11-11 3:07:02 PM  
It's horrifying that so many people's response to "The global wealthy are hoarding resources and it's causing the impoverished to suffer and die" is "We need to further restrict what poor people can and cannot do."
 
2021-11-11 3:09:21 PM  

austerity101: It's horrifying that so many people's response to "The global wealthy are hoarding resources and it's causing the impoverished to suffer and die" is "We need to further restrict what poor people can and cannot do."


Fark user imageView Full Size
 
2021-11-11 3:11:31 PM  
I don't care why he's donating this money as long as he does it.

The knee-jerk Elon haters are even more tiresome than the iHaters.
 
2021-11-11 3:11:39 PM  

IlGreven: Harlee: I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism.

Tell me you're not arguing in good faith in five words or less.


That was sarcasm.
 
2021-11-11 3:12:32 PM  

austerity101: Harlee: scottydoesntknow: So far, Musk has made no commitments to the agency.

So less Tony Stark and more person who got pissy that someone else called out their hoarding of wealth, issued a "Ohh yea, show me then!" and most likely won't do shiat about it when actually shown.

/Prove me wrong Elon!
//Prove me wrong!

I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism. Presumably, like any intelligent person, Musk has his free capital in the farking bank, where he can earn interest on it, and where the bank can use it for loans to fund other people in their endeavors. If that is not the case, then please show the class where Elon's farking Scrooge McDuck money vault is. Thank you so much.

STFU, sealion.


Yep, can't answer, so take refuge in name calling.
 
2021-11-11 3:12:46 PM  

Harlee: scottydoesntknow: So far, Musk has made no commitments to the agency.

So less Tony Stark and more person who got pissy that someone else called out their hoarding of wealth, issued a "Ohh yea, show me then!" and most likely won't do shiat about it when actually shown.

/Prove me wrong Elon!
//Prove me wrong!

I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism. Presumably, like any intelligent person, Musk has his free capital in the farking bank, where he can earn interest on it, and where the bank can use it for loans to fund other people in their endeavors. If that is not the case, then please show the class where Elon's farking Scrooge McDuck money vault is. Thank you so much.


So, Elon doesn't have any wealth in the bank.  He takes no salary.  His wealth is all tied in Tesla stock.  He obtains low interest loans putting up a portion of stock as collateral.  Quite the opposite of your idea, he's not providing productive capital for loans.  He's obtaining productive capital as loans.

https://www.wsj.com/articles/elon-musk-techs-cash-poor-billionaire-11588967043
https://financialpost.com/personal-finance/high-net-worth/elon-musk-short-on-cash-keeps-borrowing-more-and-more-money-even-as-tesla-stock-surges
https://www.cnn.com/2021/11/09/business/elon-musk-wealth-tesla-stock/index.html

You got the vault part right though:  For the uninitiated: Musk, like many ultra-wealthy heads of companies, doesn't receive a paycheck like regular people. When you see headlines about his net worth topping $300 billion, it's fun to imagine him diving into a vault of gold coins, a la Scrooge McDuck. But that eye-popping number refers mostly to Musk's equity stake in Tesla, his trillion-dollar electric vehicle company.

Of course, everyone one's gotta eat. So how's a gazillionaire supposed to get a bagel and cup of coffee these days? Or ... a yacht?

Credit, mostly. Musk and other uber-wealthy folks borrow substantially from banks, using their stock or other assets as collateral.
 
2021-11-11 3:14:17 PM  

Harlee: IlGreven: Harlee: I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism.

Tell me you're not arguing in good faith in five words or less.

That was sarcasm.


Fark user imageView Full Size
 
2021-11-11 3:15:37 PM  
I'd just like to point out that "Donating a small portion of his wealth to stave of accusations of being a supervillain" is well within Luthor's character.

/Also, Stark was kinda a dick.
 
2021-11-11 3:15:45 PM  

Cafe Threads: austerity101: It's horrifying that so many people's response to "The global wealthy are hoarding resources and it's causing the impoverished to suffer and die" is "We need to further restrict what poor people can and cannot do."

[Fark user image image 425x356]


One of my favorite quotes.
 
2021-11-11 3:16:20 PM  

Harlee: austerity101: Harlee: scottydoesntknow: So far, Musk has made no commitments to the agency.

So less Tony Stark and more person who got pissy that someone else called out their hoarding of wealth, issued a "Ohh yea, show me then!" and most likely won't do shiat about it when actually shown.

/Prove me wrong Elon!
//Prove me wrong!

I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism. Presumably, like any intelligent person, Musk has his free capital in the farking bank, where he can earn interest on it, and where the bank can use it for loans to fund other people in their endeavors. If that is not the case, then please show the class where Elon's farking Scrooge McDuck money vault is. Thank you so much.

STFU, sealion.

Yep, can't answer, so take refuge in name calling.


First rule of sealioning is you don't answer the sealion's questions.
 
2021-11-11 3:16:37 PM  

Bootleg: I'd just like to point out that "Donating a small portion of his wealth to stave of accusations of being a supervillain" is well within Luthor's character.

/Also, Stark was kinda a dick.


Stark was a monster.
 
2021-11-11 3:17:13 PM  

bingethinker: I don't care why he's donating this money as long as he does it.

The knee-jerk Elon haters are even more tiresome than the iHaters.


Except nowhere in the article does it state he plans on donating any money whatsoever.
 
2021-11-11 3:31:28 PM  
Yeah, Tony Stark brought us Ultron, which begat the Sokovia Accords, so it's a lateral move.

/when we get our Steve Rogers or Sam Wilson, wake me
 
2021-11-11 3:33:58 PM  

Harlee: scottydoesntknow: So far, Musk has made no commitments to the agency.

So less Tony Stark and more person who got pissy that someone else called out their hoarding of wealth, issued a "Ohh yea, show me then!" and most likely won't do shiat about it when actually shown.

/Prove me wrong Elon!
//Prove me wrong!

I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism. Presumably, like any intelligent person, Musk has his free capital in the farking bank, where he can earn interest on it, and where the bank can use it for loans to fund other people in their endeavors. If that is not the case, then please show the class where Elon's farking Scrooge McDuck money vault is. Thank you so much.


He won't sleep with you.
 
2021-11-11 4:07:09 PM  
It's a foot in the door...but it's all going to end in proprietary green houses with subscription fees.
 
2021-11-11 4:25:20 PM  

Rapmaster2000: So, Elon doesn't have any wealth in the bank. He takes no salary. His wealth is all tied in Tesla stock. He obtains low interest loans putting up a portion of stock as collateral. Quite the opposite of your idea, he's not providing productive capital for loans. He's obtaining productive capital as loans.


Not sure on what your point is.  If Elon sold all his stock, he'd be up $300B in cash, but the buyers of that stock would be down $300B.  Assuming none of that cash came from (or ended up) under a mattress, the total money supply in circulation would not change*.

Likewise, whatever loans Elon gets, he spends - there's no point in getting a loan to put the money under the mattress.  That money remains in circulation, and eventually ends up back in a bank somewhere, as capital to be loaned out.  If he were drawing a salary (or regularly selling stock) to fund his lifestyle, then the money transferring from him to others would likewise remain the same - no net effect on money supply.

The only differences are tax implications.  Elon isn't avoiding taxes by taking out loans with stock as collateral, but deferring the taxable events (stock sales with capital gains) into the future.  He's paying a certain amount of interest to the banks for those loans, in order to be able to maintain his lifestyle while deferring taxes.

The only one really losing out in this scenario is the government, since they won't get their tax payments until sometime in the future.  That does affect us, of course, as the government could use that money immediately to help the citizenry.  Saying his financing decisions are negatively affecting money supply, though, doesn't make sense.

*: yes, a lot of buyers of Elon's stock would probably sell other assets to fund the purchases, rather than tapping into capital reserves.  The people who bought those assets, though, may tap into capital reserves.  Eventually, someone's liquid capital is getting reduced, while Elon's is increasing.
 
2021-11-11 4:25:43 PM  

austerity101: vudukungfu: 42 million lives that are knocking on famine's door, could breed up to how many more lives in the next 10 years?
The planet is littered with the dead.
If you want quality of life, it must be sustainable.

Give a man a fish or teach him.

But we could soon run out of fish if we just keep breeding like a cancer.

I'm in an area where I can walk around and meet all sorts of people that should not be taking up space.
Sooner or later, we all die.

In Pennsylvania, they die fat.
If not fat, in a nursing home.
The fat ones never make it that far.

How do you propose we stop impoverished people from having babies?


Are you open to a modest proposal of an idea?
 
2021-11-11 4:42:17 PM  

Harlee: I'm getting really tired of these silly accusations


And?
 
2021-11-11 4:47:25 PM  

Harlee: scottydoesntknow: So far, Musk has made no commitments to the agency.

So less Tony Stark and more person who got pissy that someone else called out their hoarding of wealth, issued a "Ohh yea, show me then!" and most likely won't do shiat about it when actually shown.

/Prove me wrong Elon!
//Prove me wrong!

I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism. Presumably, like any intelligent person, Musk has his free capital in the farking bank, where he can earn interest on it, and where the bank can use it for loans to fund other people in their endeavors. If that is not the case, then please show the class where Elon's farking Scrooge McDuck money vault is. Thank you so much.


Fark user imageView Full Size
 
2021-11-11 4:53:49 PM  
I don't even feel like talking about this douchebag.  No, he does not have the right to use vastly more resources than everyone else does to enrich himself.

Fark user imageView Full Size


and neither do you.  That's right--let's just get it out there.  The earth doesn't belong to you.  You're just an asshole.
 
2021-11-11 4:57:41 PM  
What kind of narcissistic puke would think that he's doing everybody a big favor by doing everything in his power to reap all the riches of the world for himself--but then, he offers to give back some of it by feeding  people he actually doesn't give a fark about, just for the good publicity.

How very patronizing of him.  Rich guys are like this.  Nobody else is capable of running the world, and they'll kill you to prove it, but hey--here's some rice.  If you wanted any more that, you should  have been a sociopath like me.
 
2021-11-11 5:05:57 PM  
It's almost surprising when long-time farkers fall for musk's basic trolling again and again. He tweets a bunch of bullshiat about selling stock to fix world hunger and all you dumbasses fall for it. We already know he had already filed to sell this stock long before asking the internet of he should sell it. We also all know he won;t give a meaningful fraction of the proceeds to fight world hunger. This is trump-level "but I'm donating my salary" bullshiat.
 
2021-11-11 5:08:49 PM  
Wouldn't it be from Tony Stark to Lex Luthor? Tony's an asshole, but he's not evil. Then again, Musk became Luthor 5 years ago.
 
2021-11-11 5:32:17 PM  
I get what he is trying to say, he could give that money but most of it would probably disappear down a dark hole and people would still die of starvation. I think he wants a complete breakdown to the penny of what is going to happen to it and where it is going which is understandable after some of the charity stories I have heard.
 
2021-11-11 6:24:07 PM  
There was an economic study a couple years ago showing fresh, clean water could be brought to 98% of the world for $300 billion.
 
2021-11-11 6:49:19 PM  

Harlee: IlGreven: Harlee: I'm getting really tired of these silly accusations of "hoarding wealth" that I keep seeing from Fark's Guillotine Wing of Woke Progressivism.

Tell me you're not arguing in good faith in five words or less.

That was sarcasm.


Great.  I guess I'll just un-Bedazzle the leather jackets now.

FGW
WP
 
2021-11-11 6:50:21 PM  

tyyreaunn: Rapmaster2000: So, Elon doesn't have any wealth in the bank. He takes no salary. His wealth is all tied in Tesla stock. He obtains low interest loans putting up a portion of stock as collateral. Quite the opposite of your idea, he's not providing productive capital for loans. He's obtaining productive capital as loans.

Not sure on what your point is.  If Elon sold all his stock, he'd be up $300B in cash, but the buyers of that stock would be down $300B.  Assuming none of that cash came from (or ended up) under a mattress, the total money supply in circulation would not change*.

Likewise, whatever loans Elon gets, he spends - there's no point in getting a loan to put the money under the mattress.  That money remains in circulation, and eventually ends up back in a bank somewhere, as capital to be loaned out.  If he were drawing a salary (or regularly selling stock) to fund his lifestyle, then the money transferring from him to others would likewise remain the same - no net effect on money supply.

The only differences are tax implications.  Elon isn't avoiding taxes by taking out loans with stock as collateral, but deferring the taxable events (stock sales with capital gains) into the future.  He's paying a certain amount of interest to the banks for those loans, in order to be able to maintain his lifestyle while deferring taxes.

The only one really losing out in this scenario is the government, since they won't get their tax payments until sometime in the future.  That does affect us, of course, as the government could use that money immediately to help the citizenry.  Saying his financing decisions are negatively affecting money supply, though, doesn't make sense.

*: yes, a lot of buyers of Elon's stock would probably sell other assets to fund the purchases, rather than tapping into capital reserves.  The people who bought those assets, though, may tap into capital reserves.  Eventually, someone's liquid capital is getting reduced, while Elon's is increasing.


My point is that Elon has no capital being distributed as loans.  I included three articles to make that clear and explain how his liquid capital is created and used.
 
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