Without clear financial regulation of publicly traded stocks, the stock market in the USA will rapidly devolve into a jungle whereby oligarchs use it as a way of enriching themselves at the expense of 'retail investors' (you and me!). People like Musk are essentially stealing billions of dollars from ordinary people.
Without clear financial regulation of publicly traded stocks, the stock market in the USA will rapidly devolve into a jungle whereby oligarchs use it as a way of enriching themselves at the expense of 'retail investors' (you and me!). People like Musk are essentially stealing billions of dollars from ordinary people.
So he bought X for $44bn
☄️Transferred internally for $19bn
☄️Turning $25 bn tax
loss write off
☄️Revalued to $44bn
☄️Then transferred internally again for $33bn
presumably creating
☄️another $11bn tax loss write off
And paid $0 tax in 2024 - Google it