this post was submitted on 07 Sep 2023
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[–] Kraven_the_Hunter@lemmy.dbzer0.com 392 points 1 year ago (3 children)

Cheer up Elon - it wasn't worth $44B when you bought it, so it's lost significantly less value than you think!

[–] Endorkend@kbin.social 90 points 1 year ago (3 children)

Most valuations by actual economists and the like was in the 20-25B range. So it still lost a 5x in value, which is only marginally worse than 10x.

Meanwhile, you have the Elon fanboys still pretending Twitter is doing better than it ever has.

[–] paper_clip@kbin.social 92 points 1 year ago (1 children)

Meanwhile, you have the Elon fanboys still pretending Twitter is doing better than it ever has.
reply

Well, it is, if you're a Nazi.

[–] CMLVI@kbin.social 26 points 1 year ago

Same person

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[–] fubo@lemmy.world 48 points 1 year ago (5 children)

The point of acquiring Twitter wasn't to make money; it was to take away something that woke lefty journalists like and give it to fascists.

[–] grte@lemmy.ca 98 points 1 year ago (2 children)

Have you considered that Elon Musk is a dumbass rather than a super genius?

The guy didn't plan on buying twitter. He was made to after he tried gaming the system and fucked it up.

[–] gregorum@lemm.ee 21 points 1 year ago (1 children)
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[–] collegefurtrader@discuss.tchncs.de 174 points 1 year ago* (last edited 1 year ago) (2 children)

He overpaid for a piece of shit and ran it into the ground.

Everyone with a used BMW knows the feeling.

[–] hypnotoad__@lemmy.world 58 points 1 year ago (1 children)

Please stop attacking my character based on terrible purchase decisions

What a beautiful car

Until I owned it

[–] Nerdulous@lemm.ee 25 points 1 year ago (3 children)

I'll never forget my Sweet 3 series... Because I'm still paying for it's repairs years later.

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[–] Iwasondigg@lemmy.one 128 points 1 year ago (1 children)

South African Magician Makes $40B Disappear!

[–] just_change_it@lemmy.world 21 points 1 year ago

Nah, he just donated 40B to the former ownership. Keeping the big bucks in the hands of the ultra wealthy.

[–] Someguy89@lemmy.world 95 points 1 year ago (9 children)

Can this man baby just go away? No one cares dude. Enjoy your overpriced echo chamber.

[–] dojan@lemmy.world 31 points 1 year ago (3 children)

Him buying twitter was just some sort of narcissistic flex on his daughter.

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[–] spittingimage@lemmy.world 90 points 1 year ago (19 children)

When no-one was looking, Elon Musk lost forty billion. He lost 40 billion. That's as many as four tens billions. And that's terrible.

[–] DLSchichtl@lemmy.world 34 points 1 year ago

I mean, we were all looking. We've been enjoying mountains of popcorn to twitters slow collapse.

[–] MelodiousFunk@kbin.social 28 points 1 year ago (3 children)

I never would have guessed that Musk is a billion times worse than Lex Luthor, but the math is right there. Terrible.

[–] TheGreatFox@lemm.ee 28 points 1 year ago

It's an older meme, but it checks out.

Source (spoiler'd because image)

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[–] MaxHardwood@lemmy.ca 85 points 1 year ago (2 children)

I could be remembering wrong but Twitter was only worth $15B at best, and Elon bought it for $44B because he's that smart.

[–] elbarto777@lemmy.world 35 points 1 year ago (9 children)

I genuinely think he's just a pawn in a bigger game in which some powers wanted twitter gone.

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[–] bluestribute@lemmy.world 67 points 1 year ago (1 children)

Didn't Elon have the opportunity to end world hunger for 8 billion dollars a couple years ago?

[–] GenderNeutralBro@lemmy.sdf.org 74 points 1 year ago* (last edited 1 year ago) (2 children)

Almost. He said that if anyone could present a plan on how to end world hunger for $6B, he'd sell Tesla stock to pay for it.

The U.N. publicly presented a plan on how they'd use that $6B, but it fell way short of that goal. Which isn't surprising, since they never claimed they could solve world hunger permanently for $6B. Musk's challenge was rhetorical because the bar was impossibly high. He was really just trying to make the point that he does not have the money to truly end world hunger.

The U.N.'s plan for that $6B would "feed 42 million people for one year, and avert the risk of famine". That's nothing to sneeze at, obviously, but it's not a permanent solution.

Friendly reminder, for context, that the U.S. military budget is $842B. For one year.

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[–] Cabrio@lemmy.world 54 points 1 year ago (7 children)
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[–] CharlesDarwin@lemmy.world 53 points 1 year ago (4 children)

Imagine having so much wealth that he can walk away from his utter failure at Xitter and remain completely unaffected. For him, this is like some side-hustle vanity project a bored trophy wife runs.

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[–] Tilgare@lemmy.world 53 points 1 year ago (5 children)

For that to be true, it would have needed to be worth $44B in the first place, which it absolutely was not. But there is no doubt that his mismanagement has tanked the value of the investment. He's a narcissist so never see it that way, but the whole rest of the world knows that.

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[–] cabron_offsets@lemmy.world 47 points 1 year ago (2 children)

Can this fuck buy russia and fox “news”?

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[–] dbilitated@aussie.zone 46 points 1 year ago

let that sink in.

[–] darq@kbin.social 45 points 1 year ago (3 children)

When you have a net worth measured in the billions of dollars, it's genuinely impressive to be able to lose money. With that kind of sum behind your name, you could just do nothing and out-earn most people on the planet with just interest alone. To actually be able to lose money? Now that takes work!

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[–] fosforus@sopuli.xyz 45 points 1 year ago (7 children)

$4B seems also a tad too high.

[–] Diplomjodler@feddit.de 24 points 1 year ago (1 children)

Best I can do is tree fiddy.

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[–] scarabic@lemmy.world 38 points 1 year ago (5 children)

No tears shed here. The people who built Twitter got a nice payout when they absolutely robbed Elon Musk in that deal. Anyone who chose to stay on the Elon train after his first weeks at the helm gets no sympathy from me.

[–] justastranger@sh.itjust.works 21 points 1 year ago (3 children)

Anyone who chose to stay on the Elon train after his first weeks at the helm gets no sympathy from me.

Except for the green card holders whose residency in the US was literally held hostage by Elon.

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[–] Saneless@lemmy.world 34 points 1 year ago

I wouldn't normally trust his math but he might have gotten this one right

[–] fidodo@lemm.ee 33 points 1 year ago (5 children)

And he's blaming the anti defamation league...

[–] Astroturfed@lemmy.world 35 points 1 year ago

Nothing says definitely not a racist Nazi like blaming the Jews for your failings. Nazis would never blame the Jews for everything.

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[–] AdolfSchmitler@lemmy.world 31 points 1 year ago (8 children)

I really hope the original owners re-buy Twitter for a fraction of what they sold it for lol

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[–] Gradually_Adjusting@lemmy.world 31 points 1 year ago* (last edited 1 year ago) (2 children)

This is the 4-D chess at play actually - now that it's been delisted, there can't be any securities class action against him. taps forehead

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[–] Coreidan@lemmy.world 29 points 1 year ago (1 children)

Listen all y’all it’s a SABOTAGE

[–] CileTheSane@lemmy.ca 29 points 1 year ago (5 children)

That might be giving Musk too much credit. Never attribute to malice what can be explained by incompetence.

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[–] dangblingus@lemmy.world 29 points 1 year ago (9 children)

He's just that good at business. Truly an unstoppable force in the world of commerce. Capitalism really is the best system. No problems.

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[–] EmperorHenry@discuss.tchncs.de 29 points 1 year ago (2 children)

Nobody ever said you had to be smart to be a billionaire... or a good person.

[–] Diplomjodler@feddit.de 31 points 1 year ago (6 children)

You strictly cannot become a billionaire and be a good person at the same time.

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[–] ganksy@lemmy.world 26 points 1 year ago

I'm sure Putin and the Saudis comped him accordingly

[–] c0mbatbag3l@lemmy.world 22 points 1 year ago (5 children)

This serves him somehow, not sure how but he's used social media and PR to make money through market manipulation before.

I doubt his mental math is accurate on the value loss anyways.

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[–] moitoi@feddit.de 21 points 1 year ago

According to real math, Elon always overestimates the value.

[–] notannpc@lemmy.world 19 points 1 year ago (2 children)

That’s still way more than that shithole is actually worth though.

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