this post was submitted on 21 Mar 2026
345 points (99.1% liked)
Technology
82856 readers
3830 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related news or articles.
- Be excellent to each other!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
- Check for duplicates before posting, duplicates may be removed
- Accounts 7 days and younger will have their posts automatically removed.
Approved Bots
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
It's not real money, and Musk isn't the richest person in truth, not by a long shot. This is theoretical money based on overpriced companies that are propped up by what I suspect are some rather shady practices and investors using it as a casino stock.
The money doesn't have to be real for Elon to be able to use his stock as collateral for billion dollar loans. So he in fact has real money, that banks gave him, and that he will never pay back.
While true, a recession will change things.
It will only restrict his ability to get new loans, and make his collaterals worthless. But he probably spent most of the money they gave him, and like with twitter, he shifted the assets around in his network of companies, like a thimblerigger.
But that's kind of like saying that inflation will make the rich poor, which is also not true.
Actually worst than imaginable if you delve deep the psychology of the rich is akin to tumour development. Never forget these rich fuckheads would bet over your misery like a game.