Elon Musk on track to be worlds first trillionaire

[Mercedes]

Elon Musk, the world’s richest person, with an estimated $241bn fortune, could become the first trillionaire, an investment bank has predicted.

Analysts at Morgan Stanley forecast that Musk, who has made most of his wealth from the electric car company Tesla, could make much more money from his fledgling space exploration business SpaceX.

The analyst Adam Jonas said the company, founded in 2002, was “challenging any preconceived notion of what was possible and the timeframe possible, in terms of rockets, launch vehicles and supporting infrastructure”.

He added: “More than one client has told us if Elon Musk were to become the first trillionaire ... it won’t be because of Tesla. Others have said SpaceX may eventually be the most highly valued company in the world – in any industry.”

https://www.theguardian.com/technology/2021/oct/20/spacex-could-make-elon-musk-world-first-trillionaire-says-morgan-stanley

An economic structure that allows this to happen while so many people in poverty, is as bad as Communism in my opinion.  In Pope StJPII's first papal tour he spoke about an ideal society here...

To construct this more just world means, among other things, making every effort in order that there will be no children without sufficient food, without education, without instruction; that there will be no young people without a suitable preparation; that, in order to live and to develop in a worthy way, there will be no peasants without land; that there will be no workers ill-treated or deprived of their rights; that there will be no systems that permit the exploitation of man by man or by the State; that there will be no corruption; that there will be no persons living in superabundance, while others through no fault of their own lack everything; that there will not be so many families badly formed, broken, disunited, receiving insufficient care; that there will be no injustice and inequality in the administration of justice; that there will be no one without the protection of the law, and that law will protect all alike; that force will not prevail over truth and law, but truth and law over force; and that economic or political matters will never prevail over human matters.

As Catholics we need to find this news of excess accumulation, suspicious and unjust.

 

 

 

[Didacus]

Catholic Docteine of social justice distates that the rich have a responsibility to care for society forst and foremost.

JP the Great wrote about this in one of his encyclicals.

[Anomaly]

On 10/22/2021 at 1:11 AM, Mercedes said:As Catholics we need to find this news of excess accumulation, suspicious and unjust.

What is the standard that accumulation is unjust?    Did Elon get rich by preying on the ignorant, or did he instead get rewarded for using his talents to accumulate more?

Elon has, and is, doing much to push the development of technologies that has improved society.   It can be argued that his will has caused the widespread use of electric cars and broadened the market where other companies are now providing them as well.  
 

That took a lot of capital controlled by one will.   Corporations would never have entertained taking that risk, and didn’t until Elon proved the entire concept.    Just a few years ago, people were speculating that Elon was an idiot and would become bankrupt.  

[Ice_nine]

On 11/11/2021 at 4:45 PM, Anomaly said:

 

Elon has, and is, doing much to push the development of technologies that has improved society. 
 

 

Debatable. I mean I can use technology to learn calculus or something, but I can also sit on my arse while someone drops off Big Macs at my door while I drool through a doomscroll on tiktok for three hours straight.

[ArciMoto]

On 10/21/2021 at 10:11 PM, Mercedes said:

As Catholics we need to find this news of excess accumulation, suspicious and unjust.

 

On 11/10/2021 at 12:45 PM, Didacus said:

Catholic Docteine of social justice distates that the rich have a responsibility to care for society forst and foremost.

 

huh,... wonder if musk is going to put his money to work (for charity) given
 

Quote

...his trust sold $5.8 billion worth of Tesla stock in the open market after Twitter users voted for him to sell 10% of his shares in an online poll he created. He sold an additional $1.1 billion worth of Tesla stock to pay taxes associated with the exercising of stock options. read more 

More stock sales are expected given that he has sold only about 3% of his Tesla shares thus far. He has not disclosed what he will do with the proceeds, yet the cash haul has already created a buzz among major charities which are always vying for wealthy donors.

https://www.reuters.com/business/musks-5-billion-tesla-stock-haul-has-charity-circuit-buzzing-2021-11-12/

 

 

 

On 11/11/2021 at 1:45 PM, Anomaly said:

Elon has, and is, doing much to push the development of technologies,...

That took a lot of capital controlled by one will

 

being a tech geek, agree what musk has done to advance tech is indeed very impressive,... back in 2006 I actually had a chance to check out the roadster which was at the time still under development at the tesla HQ in San Carlos CA

as far as space x,... again I find what he has done developing a reusable man rated space launch vehicle very, very, very impressive

I've sorta followed musk's career for awhile and don't begrudge musk's wealth because he has created value,... also given his great wealth I find it refreshing to see that he continues to work hard (developing technology)

BTW if you want some insight as to why musk is pushing for computer driven cars (i.e. Tesla "autopilot" as a safety feature),... its because he realizes people are impulsive and can be reckless,... truth is musk is impulsive and can be reckless,... he has crashed a few vehicles like a McClaren F1 (which wasn't insured) and an FUV

https://insideevs.com/news/457993/elon-musk-crashed-arcimoto-three-wheel-ev/

for some insight about Tesla/space-x might I suggest you watch a YouTube video about a well respected tear down engineer (from Detroit) discussing his meeting w/ musk 

 

 

what I find refreshing about musk is given his all his wealth, is he does not spend money foolishly buying excessive "toys" acting "rich" like a fame seeking kardashian

actually since the topic of "catholic doctrine" was brought up,... I'd argue that musk is actually a better role model for society than some so-called believers (who preach and ascribe to the prosperity gospel)

 

https://www.npr.org/2021/07/06/1013430166/capitalism-god-wants-you-to-be-rich

 

 

 

 

 

 

 

 

 

 

[Winchester]

On 10/22/2021 at 12:11 AM, Mercedes said:

Elon Musk, the world’s richest person, with an estimated $241bn fortune, could become the first trillionaire, an investment bank has predicted.

Analysts at Morgan Stanley forecast that Musk, who has made most of his wealth from the electric car company Tesla, could make much more money from his fledgling space exploration business SpaceX.

The analyst Adam Jonas said the company, founded in 2002, was “challenging any preconceived notion of what was possible and the timeframe possible, in terms of rockets, launch vehicles and supporting infrastructure”.

He added: “More than one client has told us if Elon Musk were to become the first trillionaire ... it won’t be because of Tesla. Others have said SpaceX may eventually be the most highly valued company in the world – in any industry.”

https://www.theguardian.com/technology/2021/oct/20/spacex-could-make-elon-musk-world-first-trillionaire-says-morgan-stanley

An economic structure that allows this to happen while so many people in poverty, is as bad as Communism in my opinion.  In Pope StJPII's first papal tour he spoke about an ideal society here...

To construct this more just world means, among other things, making every effort in order that there will be no children without sufficient food, without education, without instruction; that there will be no young people without a suitable preparation; that, in order to live and to develop in a worthy way, there will be no peasants without land; that there will be no workers ill-treated or deprived of their rights; that there will be no systems that permit the exploitation of man by man or by the State; that there will be no corruption; that there will be no persons living in superabundance, while others through no fault of their own lack everything; that there will not be so many families badly formed, broken, disunited, receiving insufficient care; that there will be no injustice and inequality in the administration of justice; that there will be no one without the protection of the law, and that law will protect all alike; that force will not prevail over truth and law, but truth and law over force; and that economic or political matters will never prevail over human matters.

As Catholics we need to find this news of excess accumulation, suspicious and unjust.

 

 

 

The state has unlimited money. And it murders people.

Catholic answer: Worship the state and demand it take on even more power.

Edited December 11, 2021 by Winchester

[little2add]

Elon Musk says ‘civilization is going to crumble’ if people don’t have more childrenTesla and SpaceX CEO Elon Musk wants people to have more babies.

https://www.cnbc.com/2021/12/07/elon-musk-civilization-will-crumble-if-we-dont-have-more-children.html

“There are not enough people,” Musk told a Wall Street Journal event Monday. “I can’t emphasize this enough, there are not enough people,” he said.

The tech billionaire said low and rapidly declining birth rates are “one of the biggest risks to civilization.”

His comments come as a growing number of people are deciding not to have children, citing concerns such as climate change and inequality.

Musk added that too many “good, smart people” think there are too many people in the world and that the population is growing out of control.

“It’s completely the opposite,” Musk said, urging people to look at the data. “If people don’t have more children, civilization is going to crumble. Mark my words.”

When asked if this is why he has so many children, the father of six said he’s trying to set a good example, adding that he has to practice what he preaches.

 

He's right!

[Mercedes]

23 hours ago, little2add said:

Elon Musk says ‘civilization is going to crumble’ if people don’t have more childrenTesla and SpaceX CEO Elon Musk wants people to have more babies.

https://www.cnbc.com/2021/12/07/elon-musk-civilization-will-crumble-if-we-dont-have-more-children.html

“There are not enough people,” Musk told a Wall Street Journal event Monday. “I can’t emphasize this enough, there are not enough people,” he said.

The tech billionaire said low and rapidly declining birth rates are “one of the biggest risks to civilization.”

His comments come as a growing number of people are deciding not to have children, citing concerns such as climate change and inequality.

Musk added that too many “good, smart people” think there are too many people in the world and that the population is growing out of control.

“It’s completely the opposite,” Musk said, urging people to look at the data. “If people don’t have more children, civilization is going to crumble. Mark my words.”

When asked if this is why he has so many children, the father of six said he’s trying to set a good example, adding that he has to practice what he preaches.

 

He's right!

Traditionally immigration has saved countries with struggling populations.  It invites people with gratitude, hope and work ethic to contribute to the economy and is an holistic more natural way to address the problem.  Five of Elon Musks children were achieved with IVF and is a highly ideological way to increase population.  

I have to point out again that the thread was not an attack on Elon Musk but on a system that causes such inequity and disparity of wealth in this world.

 

[Vernon]

Quote

As Catholics we need to find this news of excess accumulation, suspicious and unjust.

We only need to worry about ourselves and our own injustices. I can't see that he did anything wrong to "accumulate" this wealth, as if he were picking it up off the ground and blocking others from doing likewise.

If we were to distribute his accumulation evenly throughout the entire world we would each get $32. Should I feel deprived of my $32?

Do you think that in economics if someone gains that someone else loses?

Edited December 13, 2021 by Vernon

[little2add]

9 hours ago, Mercedes said:

achieved with IVF

I didn’t know that.   Is he married to the same Woman.  I Wonder why?

[little2add]

 

 

[Mercedes]

20 hours ago, Vernon said:

We only need to worry about ourselves and our own injustices.

 

That isn't a Christian attitude though.

1 Corinthians 10:24 Try to do what is good for others, not just what is good for yourselves.

James 2 15 If a brother or sister is naked and lacks daily food, 16 and one of you says to them, “Go in peace; keep warm and eat your fill,” and yet you do not supply their bodily needs, what is the good of that? 17 So faith by itself, if it has no works, is dead.

Apart from loving God ...

Mark 12 31 The second is this, ‘You shall love your neighbor as yourself.’ There is no other commandment greater than these.” 

Gal 6 2 Bear one another’s burdens, and in this way you will fulfill the law of Christ.

Phil 2 3 Do nothing from selfish ambition or conceit, but in humility regard others as better than yourselves. 4 Let each of you look not to your own interests, but to the interests of others. 5 Let the same mind be in you that was[a] in Christ Jesus,

Quote

 

I can't see that he did anything wrong to "accumulate" this wealth, as if he were picking it up off the ground and blocking others from doing likewise.

If we were to distribute his accumulation evenly throughout the entire world we would each get $32. Should I feel deprived of my $32?

 

The thread isn't about Musk himself, but the system that champions such disparity.

Quote

Do you think that in economics if someone gains that someone else loses?

Stepping back and realising that 30 to 40% of all food produced in the US goes to the garbage tip while millions within and outside the country lack food in varying degrees, behoves an examination of the system.

Thankfully that is one of the issues now being addressed by the 2030 Sustainable Development Goals.  

11 hours ago, little2add said:

I didn’t know that.   Is he married to the same Woman.  I Wonder why?

He has had 2 wives.  He had IVF twins and IVF triplets with the first.  No children with the second and has recently had one child with the singer Grimes but they have recently split up.

Edited December 13, 2021 by Mercedes

[Vernon]

I meant we don't have to worry about someone else's injustice so much as be concerned with our own and our own sins. Of course we Catholics are obliged to be concerned about our neighbor and help those in need. (That doesn't mean, however, we need to support every government program that takes and redistributes).

But regarding the system that allowed him to be so wealthy--wonderful. The same system has allowed us to live better than kings did a couple of centuries ago.

[little2add]

13 hours ago, Mercedes said:

He has had 2 wives.  He had IVF twins and IVF triplets with the first.  No children with the second and has recently had one child with the singer Grimes but they have recently split up.

That’s really sad, I guess it’s true what they say that “money cannot buy happiness”

[Credo in Deum]

Isn’t he paying 11 billion in taxes for 2021? Yikes. 

On 10/21/2021 at 10:11 PM, Mercedes said:

 

An economic structure that allows this to happen while so many people in poverty, is as bad as Communism in my opinion. 

 

I love that you said this and then quoted JPII, a man who would have clearly disagreed that such an economic structure is worse than communism.  

[Vernon]

Quote

An economic structure that allows this to happen while so many people in poverty, is as bad as Communism in my opinion.

Pretty sad thinking here, especially since this economic system has brought so much wealth to us all, enabling us to help people in poverty. Punish the rich and you punish the rest of us.

[Mercedes]

3 hours ago, Credo in Deum said:

Isn’t he paying 11 billion in taxes for 2021? Yikes. 

I love that you said this and then quoted JPII, a man who would have clearly disagreed that such an economic structure is worse than communism.  

I didn't say 'is worse than communism'.  I said might be 'as bad as communism'.

Pope StJPII said as much in his encyclical Centesimus Annus.

"...can it perhaps be said that, after the failure of Communism, capitalism is the victorious social system, and that capitalism should be the goal of the countries now making efforts to rebuild their economy and society? Is this the model which ought to be proposed to the countries of the Third World which are searching for the path to true economic and civil progress?

The answer is obviously complex. If by "capitalism" is meant an economic system which recognizes the fundamental and positive role of business, the market, private property and the resulting responsibility for the means of production, as well as free human creativity in the economic sector, then the answer is certainly in the affirmative, even though it would perhaps be more appropriate to speak of a "business economy", "market economy" or simply "free economy". But if by "capitalism" is meant a system in which freedom in the economic sector is not circumscribed within a strong juridical framework which places it at the service of human freedom in its totality, and which sees it as a particular aspect of that freedom, the core of which is ethical and religious, then the reply is certainly negative.

The Marxist solution has failed, but the realities of marginalization and exploitation remain in the world, especially the Third World, as does the reality of human alienation, especially in the more advanced countries. Against these phenomena the Church strongly raises her voice. Vast multitudes are still living in conditions of great material and moral poverty. The collapse of the Communist system in so many countries certainly removes an obstacle to facing these problems in an appropriate and realistic way, but it is not enough to bring about their solution. Indeed, there is a risk that a radical capitalistic ideology could spread which refuses even to consider these problems, in the a priori belief that any attempt to solve them is doomed to failure, and which blindly entrusts their solution to the free development of market forces."

2 hours ago, Vernon said:

Pretty sad thinking here, especially since this economic system has brought so much wealth to us all, enabling us to help people in poverty. Punish the rich and you punish the rest of us.

In his letter Sollicitudo Rei Socialis reminiscing on the encyclical Populorum Progressio, Pope StJPII notes this...

"It should be noted that in today's world, among other rights, the right of economic initiative is often suppressed. Yet it is a right which is important not only for the individual but also for the common good. Experience shows us that the denial of this right, or its limitation in the name of an alleged "equality" of everyone in society, diminishes, or in practice absolutely destroys the spirit of initiative, that is to say the creative subjectivity of the citizen. As a consequence, there arises, not so much a true equality as a "leveling down." In the place of creative initiative there appears passivity, dependence and submission to the bureaucratic apparatus which, as the only "ordering" and "decision-making" body - if not also the "owner"- of the entire totality of goods and the means of production, puts everyone in a position of almost absolute dependence, which is similar to the traditional dependence of the worker-proletarian in capitalism. 

...Moreover, one must denounce the existence of economic, financial and social mechanisms which, although they are manipulated by people, often function almost automatically, thus accentuating the situation of wealth for some and poverty for the rest. These mechanisms, which are maneuvered directly or indirectly by the more developed countries, by their very functioning favor the interests of the people manipulating them at in the end they suffocate or condition the economies of the less developed countries. Later on these mechanisms will have to be subjected to a careful analysis under the ethical-moral aspect.

Populorum Progressio already foresaw the possibility that under such systems the wealth of the rich would increase and the poverty of the poor would remain."

[Vernon]

I think you need to demonstrate how one person's gain is necessarily another person's loss. He didn't steal it.

If you would like to take it all away from poor Elon and leave him destitute and give each person in the world an equal portion, we would each get $30 US. Do you feel that you have been somehow cheated out of $30 and Elon Musk owes that to you?

Do you think you might be a little bit influenced by "tall poppy syndrome"?

At any rate, what is your solution to this horrible injustice?

 

 

 

[Mercedes]

On 12/23/2021 at 11:06 AM, Vernon said:

I think you need to demonstrate how one person's gain is necessarily another person's loss. He didn't steal it.

If you would like to take it all away from poor Elon and leave him destitute and give each person in the world an equal portion, we would each get $30 US. Do you feel that you have been somehow cheated out of $30 and Elon Musk owes that to you?

Do you think you might be a little bit influenced by "tall poppy syndrome"?

At any rate, what is your solution to this horrible injustice?

 

 

 

As I stated numerous times, the thread isn't about Elon Musk personally but the inequity his wealth represents in the big picture.

The biggest earners this year included Big Pharma, big banks, the health insurance industry, the motor vehicle industry, Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffet, Elon Musk.  Forbes did an article about what percentage of tax some of these people contributed and it's shamefully minimal.  It's not hard to see how the collective billions in tax could support local areas in important ways that promote the human dignity of those at the bottom end of the pile and those who've fallen through the cracks.

https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax

[little2add]

Elon Musk's  companies now employ about 110,000 people worldwide. 

if the government seized his sizable assets then it might not fair well for them (his employees)