The World now has its first trillionaire: Income inequality will never end.

[Samlucky O]

There are proposals from some organisations for the government to check the influence of these big organisations by reducing the power of large companies and monopolies, increasing taxes on extreme wealth, and strengthening labor protections and wages. This is never going to happen because these billionaires also control the political system. Instead of complaining and doing nothing, let's seek means to increase our income and expand our investments. This is because capitalism is here to stay.

Well talking about increasing tax on extreme wealth is like asking government to tax this extremely rich folks like %10 of  their annual income to help strengthen labour production. Of course Elon musk should be taxed %10 of his 1.1 trillion dollars par Year, that will be like $100billion . Of course that is not gonna happen when these rich folks know what it cost to be as wealthy as they are. They will definitely boycott that agenda when they are so powerful that they control government. Because a man that is so rich as he is, is somehow uncontrollable because he is even richer that than 46% poorest country. Government takes major loan from such people to develop their country when they have financial issues. So it will be hard for government to do such thing to him, knowing how influencial he is. And how important he is to many people.

[SquallLeonhart]

The thing that saddens me most is that, I could start a space company today, aiming to do something far better than Elon, not saying I can build it or not, we all know I can't, I have no knowledge of any of this, so I would fail. But assume that I can, assume that I am the smartest rocket scientist in the world, and also somehow business savvy. As long as Nasa doesn't pay me an arm and a leg, and as long as I do not get subsidies to not pay taxes, and even get help to pay for my salaries for the employees, I would fail.

Elon got SpaceX to be this valuable, because the government put more money into that company than Elon did. Elon took taxpayer money, YOUR money, and made himself a trillionaire, that bothers me a lot. Yeah, I agree that inequality in wages will continue and will haunt most of us whereas riches will multiply their wealth in folds as usual until government policies restructured with common man in mind.

[viljy]

The thing that saddens me most is that, I could start a space company today, aiming to do something far better than Elon, not saying I can build it or not, we all know I can't, I have no knowledge of any of this, so I would fail. But assume that I can, assume that I am the smartest rocket scientist in the world, and also somehow business savvy. As long as Nasa doesn't pay me an arm and a leg, and as long as I do not get subsidies to not pay taxes, and even get help to pay for my salaries for the employees, I would fail.

Elon got SpaceX to be this valuable, because the government put more money into that company than Elon did. Elon took taxpayer money, YOUR money, and made himself a trillionaire, that bothers me a lot. Yeah, I agree that inequality in wages will continue and will haunt most of us whereas riches will multiply their wealth in folds as usual until government policies restructured with common man in mind.

He's not an expert in rocket science either. After all, his business is unprofitable, except for Starlink, which is used in military operations, well, that is, it is paid for by the US government. Grok is nothing compared to GPT and Claude. Twitter's capitalization has dropped significantly since Elon Musk bought it.

But he makes a lot of big promises, the realism of which is highly questionable (a colony on Mars). Musk's business is heavily funded by the state. For many years, Tesla was sponsored by the state and had preferences. It seems to me that he is more not so much a visionary businessman, but rather a conman like Elizabeth Holmes, only more cunning.

[jcojci]

That could increasing in the future, other rich people will do the same, increasing their wealth so they can behind him. While the gap will grow without any solving ways and only makes poor people becomes poorer. The proposals may not works well because the big organizations would think twice to follow the plan, that can makes them get a little problem to increases their wealth. So we don't have to complain on that but focus on ourselves so we can have better life.

[Ishicryptic]

The thing that saddens me most is that, I could start a space company today, aiming to do something far better than Elon, not saying I can build it or not, we all know I can't, I have no knowledge of any of this, so I would fail. But assume that I can, assume that I am the smartest rocket scientist in the world, and also somehow business savvy. As long as Nasa doesn't pay me an arm and a leg, and as long as I do not get subsidies to not pay taxes, and even get help to pay for my salaries for the employees, I would fail.

What you're saying makes a lot of sense because it is very easy to have talented skills but to convert it to money is another matter entirely, I'm sure that there are lots of Elon Musk, out their who can match his intelligence tech wise but they don't have the opportunities and privileges that he has. If he didn't have these backings I'm sure that he wouldn't be the richest man today, what it means is that with everything that you know, your knowledge and intelligence you still need government and strong organisations backings to become very successful.

Elon got SpaceX to be this valuable, because the government put more money into that company than Elon did. Elon took taxpayer money, YOUR money, and made himself a trillionaire, that bothers me a lot. Yeah, I agree that inequality in wages will continue and will haunt most of us whereas riches will multiply their wealth in folds as usual until government policies restructured with common man in mind.

It sounds quite unrealistic to become a trillionair with people's money, it's not like all the the trillion dollars are all his personal property, without these shareholders he wouldn't have achieved this great height. Still I would give it to Elon Musk, he deserves to be the richest man because he worked for it and got all the necessary backings and that is what makes anybody to stand out.

[stompix]

What a load of &*&*&^&

Not your keys, not your coins!
Not your coins, none of your business!

Musk is wealthier than the poorest 46 percent of the world’s population combined, about 3.8 billion people.

So, this means that on average, each of the 46% has around $280 to his name.
Basically, we should hang everyone that owns an apartment in a major city becuase he has 2000 times more money just with that apartment than the bottom 46%

The organization also estimates that a 10 percent tax on Musk’s 1 trillion dollar fortune could fund efforts to end extreme global poverty for one year, potentially lifting more than 800 million people above the extreme poverty line. But this will never happen. Global inequality is increasing and I don't think it will ever end. T

If we tax 10% of his wealth, we have 100 billion, giving $1200 to each person will not lift them out of poverty, you know what will happen?
The OPPOSITE!
The US printed covid checks to everyone. What happened? Sky-high inflation because people now have more money to spend, who got ass fucked the worst? The poor!

[Die_empty]

If we tax 10% of his wealth, we have 100 billion, giving $1200 to each person will not lift them out of poverty, you know what will happen?
The OPPOSITE!
The US printed covid checks to everyone. What happened? Sky-high inflation because people now have more money to spend, who got ass fucked the worst? The poor!

The assumption that lifting people out of poverty is only by giving them money is flawed. This is not always the case, as people can be financially empowered in various ways. Creating an enabling environment where businesses would thrive is one of them. Investing in infrastructure, such as electricity, good roads, technology, and agriculture, will create more jobs. Giving people money might cause more harm than good except these funds are used for investment.

[Queentoshi]

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I am just going to speak on the topic directly because the ending side where they have said income inequality will never end has gotten my attention because were you expecting it to ever end, I don't think in a proper economic situation and for proper economic equilibrium in society income can never be equal. With Elon Musk now stretching the threshold of what it means to be wealthy into becoming the world's first trillionaire it is going to spark a new set of individuals who would now understand and believe they can also become trillionaires as well, We are witnessing a new economic age.

[eightdots]

If we tax 10% of his wealth, we have 100 billion, giving $1200 to each person will not lift them out of poverty, you know what will happen?
The OPPOSITE!
The US printed covid checks to everyone. What happened? Sky-high inflation because people now have more money to spend, who got ass fucked the worst? The poor!

The assumption that lifting people out of poverty is only by giving them money is flawed. This is not always the case, as people can be financially empowered in various ways. Creating an enabling environment where businesses would thrive is one of them. Investing in infrastructure, such as electricity, good roads, technology, and agriculture, will create more jobs. Giving people money might cause more harm than good except these funds are used for investment.

Creating job opportunities is always beneficial for everyone. Simply distributing money or implementing short-term solutions is not the right approach. Efforts should be made to maximize benefits. If you create job opportunities, the unemployed will work and earn a regular income. This regular income will enable people to contribute to society through their work and support themselves.

Governments should develop long-term plans in their policies and work diligently to achieve these plans.

[Chibit01]

That could increasing in the future, other rich people will do the same, increasing their wealth so they can behind him. While the gap will grow without any solving ways and only makes poor people becomes poorer. The proposals may not works well because the big organizations would think twice to follow the plan, that can makes them get a little problem to increases their wealth. So we don't have to complain on that but focus on ourselves so we can have better life.

That self focus on building our own wealth should be what we should be talking about and not concentrating on policy which distributes the wealth accumulated over time as it pays off from years of dedicated hard work by a team of individuals and not just one person. Some policies might have been in place in their favor which make the rich accumulate wealth easier overtime than an average income earner, but that still should not be a reason to distribute wealth from the rich down to the poor, as it won't still solve any of the problems in the long run.

[tygeade]

it is very easy to have talented skills but to convert it to money is another matter entirely, I'm sure that there are lots of Elon Musk, out their who can match his intelligence tech wise but they don't have the opportunities and privileges that he has. If he didn't have these backings I'm sure that he wouldn't be the richest man today, what it means is that with everything that you know, your knowledge and intelligence you still need government and strong organisations backings to become very successful.

That is the logic. If you do 1 billion shares, and sell one share for a dollar, then your networth is 1 billion dollars, it's as simple as that. We have actually even seen something like that in the crypto world before, where in CMC ranking, some coins went above Bitcoin for a mere moment. Because some stupid dude did not check prices, and paid a lot of money for a token due to lack of liquidity, they just bought it, and suddenly the price of that token rose, like "drop a needle" how price crashes for a second in crypto, it happened but reverse where for a needle, it went up. So the marketcap suddenly did a million times more, and went above bitcoin for a mere moment.

You can do that in real life too, but it's temporary. Elon doesn't have it temporary, it's there to stay still, do not feel like he is THAT rich, or should be considered that rich, it's just on paper, not real actual purchasing power.