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EU considers calculating X fines by including revenue from Musk’s other firms (arstechnica.com)

submitted 1 month ago by Xatolos@reddthat.com to c/technology@lemmy.world

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[–] Voroxpete@sh.itjust.works 7 points 1 month ago (2 children)

A single billion, when put in terms of money, is enough that - simply invested in GICs and bonds, earning a very, very conservative 1% interest - it would earn you ten million dollars a year in interest alone.

I would challenge you to even come up with a reasonable way to spend ten million dollars a year. By my back of the napkin math you could vacation every single day, living in hotels and eating at fancy restaurants, and still not make a dent in that.

Musk has an estimated net worth of $247 billion. You could fine him 99% of his current wealth, and he would still struggle to spend enough that he wouldn't end up increasing his remaining wealth every year.

[–] blind3rdeye@lemm.ee 10 points 1 month ago

And this is why it is ludicrous to believe that ultra-rich people earn their fortune with hard work or good ideas. Being rich generates its own money. Being poor is expensive. There should be no billionaires, for any reason. Such concentrated wealth is very bad.

[–] PugJesus@lemmy.world 3 points 1 month ago (2 children)

I would challenge you to even come up with a reasonable way to spend ten million dollars a year.

I would fund multiple forms of art media and have them released for free every year while living on ramen in my leaky apartment

Hello to any billionaires looking for a worthy heir

[–] Voroxpete@sh.itjust.works 7 points 1 month ago (1 children)

Now imagine a world where, instead of there being billionaires, everyone had their basic needs met, so artists could afford to focus on creating their art instead of relying on handouts from a capricious god.

[–] PugJesus@lemmy.world 2 points 1 month ago

But I want to be a capricious god

[–] Hadriscus@lemm.ee 3 points 1 month ago

now I like you, you see the good combinations immediately