this post was submitted on 13 Jun 2024
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That's like, a million people's wages. Absurd.
It's far, far more money than all the people he just laid off because he "had no other choice"
It's more money than the total amount of profit the company has EVER made across ALL years it's been operating combined.
The company CANNOT liquidate all that money without literally killing itself. Tesla is walking dead.
It feels like musk needs this money desperately to pay off some debt he owes to some very unsavory people. As long as he bribes all the right people in sufficient amounts they'll be happy enough to fold the company and hope for a massive government bailout.
Is it mostly stock? That would just devalue all the existing shares.
It's stock, not cash
Does it matter?
Elon sold the vast majority of his stock in tesla before. He'll do it again. To him it is literally liquid cash and he will treat it like so.
So I'm going to say it again. This will literally kill tesla.
Which he can borrow cash against
I like to compare these amounts as time.
1 million seconds is about 11 days. 1 billion seconds is almost 32 years.