Yawweee877h444@lemmy.world to politics @lemmy.world · 23 hours ago‘I don’t think we should have billionaires’: mayor Zohran Mamdani in his own wordswww.theguardian.comexternal-linkmessage-square56linkfedilinkarrow-up1796arrow-down17
arrow-up1789arrow-down1external-link‘I don’t think we should have billionaires’: mayor Zohran Mamdani in his own wordswww.theguardian.comYawweee877h444@lemmy.world to politics @lemmy.world · 23 hours agomessage-square56linkfedilink
minus-squareDaddleDew@lemmy.worldlinkfedilinkarrow-up94·22 hours agoExcept that they do just that by borrowing money against their stocks, which also incidentally allows them to avoid paying taxes. That’s how Musk bought Twitter.
minus-squarekautau@lemmy.worldlinkfedilinkarrow-up48·21 hours agoYup, their latent wealth grows faster than what they borrow to use as actual spending, they literally don’t spend money, they accumulate it
Except that they do just that by borrowing money against their stocks, which also incidentally allows them to avoid paying taxes. That’s how Musk bought Twitter.
Yup, their latent wealth grows faster than what they borrow to use as actual spending, they literally don’t spend money, they accumulate it