It took minting the world’s first Trillionaire during the time of western economic downturn for Wallstreet money to reach the factory floor.
4,400 millionaires created in a single day. 400 of them worth over $100 million. They aren’t C-suite, they are welders, technicians, cafeteria staff. Instead of paying higher salaries, they received company stock.
Juan Hernandez immigrated from Mexico, no idea what SpaceX was. Accepted $28 per hour welder gig and $10K in equity grant that let him buy more shares through payroll deduction. His stake was realized (@$135) for $880,000 today. Can you feel his boot in his ass for not having purchased more?
Trevor Hise parents told him SpaceX SmezX, go to General Electric. He chose SpaceX, and in 12 years purchased 100,000 shares. Today, Trevor is 37 years of age and worth $13.5 million. He said today “The magnitude of this has been ridiculous”.
Beyond a certain point, no one is capable of making this level of money. It’s dumb luck or hitting upon something which advances humanity as a whole. Happy for the 4,400, genuinely. However the massive disproportionate inequality wealth gap on the 98% is absurd. The influence and control over everything from culture to politics, directly over our speech and thoughts, is going to become even more venomous, heinous.
Elon Musk, Jeff Bezos, Mark Zuckerberg, Peter Thiel, Donald Trump, Pam Bondi, Christine Noem et al, these are the names that 50, 100, 300+ years from now, like their cronies Obama, Biden, Buffet, Rosen, Kamprad et al, will be celebrated as “great.” And that there lies the biggest problem; whether you believe in extended life expectancy, immortality or not, “legacy” is the trick that forces humanity to worship the worst of ourselves, to believe and forget the most important part of life, the journey. Legacy is what motivates & justifies to ourselves to exchange deceit, savagery, spite, wickedness, hate and cruelty onto our fellow humans so we can be, remembered, to be thought of by people we help, screw over and never even know exists as “great.”
There needs to be memorial shining a permanent spotlight on all the heinous crimes “great” people commits against humanity to achieve their greatness.
P.S. Hope you made a few dollars off of today’s IPO, what a ride today has been. (As of 6/12 3:38 Pacific time, after hours is $167, think it’ll surpass $200 on Monday?)