164 money business wealth

Descriptions > White Backgrounds

Published 2020/09/23

We published an article in 2016 stating “The 2016 Unites States election will give us an indication of how well the world educational system has taught how business works and how business have a cycle and then can go away.” Today I will write about how personal wealth is so totally misunderstood.

Facebook contributor Curtis Yoakum posted the following:

Elon Musk is terrible!

He could end world hunger for 10 minutes by giving the government all of his money but instead he's wasting his time and money:

-Giving blind people sight

-Giving the entire world equality by creating world wide internet

-allowing paralyzed people to use their mind to control a computer

-making self-driving cars that are 10x safer than humans because 100s of thousands of people is in car accidents each year

-Making cleaner self sustainable energy

-Trying to make humans multiplanetary so consciousness is less likely to be extinguished

-Building humanoid robots to help with the population crisis

-building tunnels to fix traffic

-buying twitter to give people real freedom of speech

-putting data centers in space because it's more efficient

-Building a maximally truth seeking AI because if AI is going to take over the world I'd rather it be based in truth rather than social programming.

What a selfish piece of shit! He could be sitting on a private island playing with his kids and spending a million dollars a day until he dies but instead he's in hardcore grind mode doing what he's passionate about... Advancing humanity.

Fucking diabolical!

When I read the first line the pinup came to mind and now I need to adjust it a bit. We have seen how people’s business acumen is so poor, but we are now understanding how to many people do not understand how wealth is measured.

Backtracking for a moment, I have had business classes, but the ones I had never touched measuring one’s wealth. I sat in on a few high school personal finance classes and not once was personal wealth measurement addressed. I had learned about pay rates and a bit about banking accounts and saving, but never touched those two dastardly words, “Personal wealth.”

It was when I took a free “Rich Dad Poor Dad” course that I learned the components of measuring personal wealth.

Growing up the television show “The Beverly Hillbillies” told us about a poor mountaineer, Jed Clampett, who accidentally found oil close to the surface on the land that he owned when a stray bullet pierced the ground while hunting for food. Clampett did not know his personal wealth before that incident. The land he owned owned had oil. The oil was worth as Jed called it, a new type of money, millions of dollars. It just was not cash in the pocket.

When Musk was purchasing Twitter, he had to move assets around in order to get the cash. There are times when one is sitting on wealth but needs to borrow to make expenses. Look to parts of Europe where there are people of supposed wealth living in old castles that do not have the cash to use to make repairs. One of the first things that happens to many homeowners, new and existing, is the big ticket repair that needs to be done. Many times if there is equity in the home a home equity loan will be taken to do the repair.

The above lists a number of impressive items that Musk has accomplished with his wealth. Neuralink is a company that is developing ways to correct or make workable accommodations for individuals lacking capabilities such as vision or have paralysis. The company is still in startup mode going from strictly experimental. So far twenty-one people have agreed to be experimental with very positive outcomes. Aside from mandating vision coverage in certain health insurance plans, what has the government done to correct vision loss? Aside from subsidizing overpriced wheel chairs, what has government done to correct paralysis?

The government for years has been trying to get the internet out to the rural areas of the United States. Unfortunately the technology wasn’t quite ready. The government has some initial success with the DSL and T1 lines. This technology did not get improved due to technical limitations. Musk always knew that the solution was aerial. He create Starlink which is available in 160 countries and also 99% of the United States. I did not know much about Starlink until Musk offered it to the Ukraine after Russia started blasting Ukraine’s internal internet grid. I later helped a relative install it at a house.

The Tesla automobiles have self driving capabilities. While not perfect it is getting better.

There is SpaceX which has taken the lead from NASA on many of the space items, and the list above tells more. NASA contracted with SpaceX to send a SpaceX Dragon capsule was listed as more proven than the Boeing Starliner which returned back to earth due to technical problems.

Musk’s fortune is tied up in these and other companies, the employees and the payrolls that he pays. So while Musk is listed as a trillionaire, the value is not liquid cash. Because it is invested in various companies there is volatility. His net worth briefly peaked near $1.45 trillion in the week after the IPO but fell below $700 billion in late July 2026 due to a sharp correction in SpaceX shares.

To say that Musk can just give all of his wealth to the government to redistribute, understand that it is not in cash available to just give away. In the movie “it’s a Wonderful Life” George Bailey played by Jimmy Stewert, explains to his savings and loan account holders that the money is not all in the vault but in each other’s neighbors houses. Mary Bailey played by Marlo Thomas remake “It Happened One Christmas dittoed the statement. Both convinced their account holders to request what was needed for the short term and realize the rest was there in due time. While their sacrifice may have made them work differently in the interim the wealth would be there.

World hunger eliminated in ten minutes? How can this work when hostile governments do not let food supplied get to people? Ten minutes to feed all of the underfed? What is the plan?

We keep hearing the socialists and communists saying the a small percent of the population has the majority of wealth, be advised that many of those that are saying that are not actively participation in wealth expansion. Look at the socialists and communists. Have they ever made a payroll? Do they really understand wealth? Have they ever once succeeded?

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co-published in https://www.itstooimportant.com/