Author Topic: Elon Musk soars past Warren Buffett on billionaires ranking  (Read 688 times)

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Online Elderberry

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Houston Chronicle by Tom Maloney, Bloomberg July 10, 2020

Elon Musk is now richer than Warren Buffett.

The fortune of Tesla Inc.’s chief executive officer rose $6.1 billion on Friday, according to the Bloomberg Billionaires Index, after the carmaker’s stock surged 11%. Musk is now the world’s seventh-richest person, also ahead of tech titans Larry Ellison and Sergey Brin.

The 49-year-old owns about a fifth of Tesla’s outstanding stock, which comprises the bulk of his $70.5 billion fortune. His majority ownership of closely held SpaceX accounts for about $15 billion.

Shares of the electric-car maker have risen 269% this year. The company’s booming valuation helped Musk land a $595 million payday earlier this year, making him the highest-paid CEO in the U.S.

More: https://www.houstonchronicle.com/business/article/Elon-Musk-Rockets-Past-Warren-Buffett-on-15400909.php

Offline catfish1957

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Re: Elon Musk soars past Warren Buffett on billionaires ranking
« Reply #1 on: July 13, 2020, 03:18:35 am »
Hate sounding like a broken record, but it is time for Musk to pony up with his own funds and stop taking US taxpayer subsidies.
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline Smokin Joe

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Re: Elon Musk soars past Warren Buffett on billionaires ranking
« Reply #2 on: July 13, 2020, 03:50:41 am »
Buffet will make a comeback if the DAPL stays shut down long...
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline truth_seeker

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Re: Elon Musk soars past Warren Buffett on billionaires ranking
« Reply #3 on: July 13, 2020, 04:45:47 am »
Hate sounding like a broken record, but it is time for Musk to pony up with his own funds and stop taking US taxpayer subsidies.

Experienced tax accountants would show several categories, where firms have merely made use of basic deductions, features of tax law.

Mineral extraction (oil, gas,  mining, etc. use depletion.) Construction uses "completed contract method, to defer tax payments. Firms doing international business, defer taxes almost indefinitely.

To criticize just one that you do not like, is pretty weak.

Tax laws have been used to incentivize, to get intended goals.

One such example is oil and gas.

"God must love the common man, he made so many of them.�  Abe Lincoln

Offline catfish1957

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Re: Elon Musk soars past Warren Buffett on billionaires ranking
« Reply #4 on: July 13, 2020, 05:26:26 am »
Experienced tax accountants would show several categories, where firms have merely made use of basic deductions, features of tax law.

Mineral extraction (oil, gas,  mining, etc. use depletion.) Construction uses "completed contract method, to defer tax payments. Firms doing international business, defer taxes almost indefinitely.

To criticize just one that you do not like, is pretty weak.

Tax laws have been used to incentivize, to get intended goals.

One such example is oil and gas.

WTF are you talking about?  Big GD differnce in utilzation of tax breaks , defined and allowed by law, versus out in out taking of subsidity money from the U.S. Taxpayers for what consitutes State sponsored R & D.

You not knowing the difference seems pretty weak to me.
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline catfish1957

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Re: Elon Musk soars past Warren Buffett on billionaires ranking
« Reply #5 on: July 13, 2020, 05:28:40 am »
Buffet will make a comeback if the DAPL stays shut down long...

Seems the Sage has lost his touch.  A lot has been brought up lately, that BRKa is underfperforming the S & P on several time references.
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline Smokin Joe

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Re: Elon Musk soars past Warren Buffett on billionaires ranking
« Reply #6 on: July 13, 2020, 10:51:07 am »
Seems the Sage has lost his touch.  A lot has been brought up lately, that BRKa is underfperforming the S & P on several time references.
I figure just in railroad revenues, hauling an extra half million BOPD out of here.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis