Current Events > So, elon musk did grow up wealthy?

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Smallville
08/29/23 12:47:39 PM
#1:


or his parents were wealthy...etc...? iirc musk has repeatedly denied this. Just read an article where his sister said that claims of their family being wealthy were ridiculous

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McMarbles
08/29/23 12:48:28 PM
#2:


His dad owned an emerald mine. So... yeah, Musk is full of crap.

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COVxy
08/29/23 12:49:18 PM
#3:


Wealthy people very often deny that they are wealthy. They often even believe it, as they don't actually know what it means to not be wealthy. It's like the entire concept behind Arrested Development.

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ScazarMeltex
08/29/23 12:49:21 PM
#4:


Lol, the dude absolutely grew up rich. His dad owned a fucking apartheid era emerald mine, so it was essentially slave labor that gave him said wealth.

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EmbraceOfDeath
08/29/23 12:50:01 PM
#5:


Yes, and his dad has confirmed it.

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WingsOfGood
08/29/23 12:50:46 PM
#6:


Him and his brother literally used their connections they made from their dad to get funds for their first company.

Yes, you just read he didn't even start his first company on his own, not only did his rich brother assist but their Dad's wealthy friends donated.
Their dad also gave them money fyi.
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ScazarMeltex
08/29/23 12:53:18 PM
#7:


WingsOfGood posted...
Him and his brother literally used their connections they made from their dad to get funds for their first company.

Yes, you just read he didn't even start his first company on his own, not only did his rich brother assist but their Dad's wealthy friends donated.
Their dad also gave them money fyi.
Yeah people don't seem to realize that being born rich comes with things other than money. It's also having contacts and access to investors.

When Elizabeth Holmes gets out of prison she's still not ever going to have to get a real job. Her family and their friends will make sure she has some kind of easy email job that guarantees her a large income.

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AloneIBreak
08/29/23 12:54:15 PM
#8:


Or just his career?

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WingsOfGood
08/29/23 12:55:27 PM
#9:


ScazarMeltex posted...
Yeah people don't seem to realize that being born rich comes with things other than money. It's also having contacts and access to investors.

Quick google says their Dad literally gave them $28,000 also

so we honestly don't even have to argue connections in this case
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DarkBuster22904
08/29/23 1:01:21 PM
#10:


Grew up rich from an apartheid emerald mine.

He and his brother each got 28k from their dad to start their first company.

Said first company got 300k from a mysterious "angel investor" that kept it afloat.

He got fired from that first company for gross incompetence, but made $12 million from the buyout, which he used to buy his way onto the board for X.com.

He got fired from X.com due to gross incompetence, including a massive data privacy leak, Personal Identifiable Information leak, as well as the name x.com, ironically (people thought it was a point site). But he again kept his shares, and so made $128 million when it rebranded to PayPal and sold to eBay.

He then used that money to buy Tesla. After it's product was already patented, and basically ready for market. He put his name on it and took the credit.

He then bought twitter and renamed it back to X.com, clearly having learned nothing. And he's again proven grossly incompetent.

Literally just a rich brat who has failed upward his entire career.

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WingsOfGood
08/29/23 1:01:57 PM
#11:


DarkBuster22904 posted...
Said first company got 300k from a mysterious "angel investor" that kept it afloat.

das alot
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Dreepapult
08/29/23 1:04:33 PM
#12:


What could a banana cost?

12 dollars?

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BewmHedshot
08/29/23 1:06:29 PM
#13:


https://gamefaqs.gamespot.com/a/user_image/7/9/4/AAOKgXAAEy1a.jpg
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Smallville
08/29/23 1:08:42 PM
#14:


DarkBuster22904 posted...
Grew up rich from an apartheid emerald mine.

He and his brother each got 28k from their dad to start their first company.

Said first company got 300k from a mysterious "angel investor" that kept it afloat.

He got fired from that first company for gross incompetence, but made $12 million when it eventually sold to Compaq, which he used to buy his way onto the board for X.com.

He got fired from X.com due to gross incompetence, including a massive data privacy leak, Personal Identifiable Information leak, as well as the name x.com, ironically (people thought it was a porn site). But he again kept his shares, and so made $128 million when it rebranded to PayPal and sold to eBay.

He then used that money to buy Tesla. After it's product was already patented, and basically ready for market. He put his name on it and took the credit.

He then bought twitter and renamed it back to X.com, clearly having learned nothing. And he's again proven grossly incompetent.

Literally just a rich brat who has failed upward his entire career. And literally all of his money has been made IN SPITE of him. It's actually infuriating.
do most of you consider musk a better businessman than trump? yeah only a very small percentage of billionaires grew up poor. Especially those that are actually businesspeople and not entertainers. Can you really think of any billionaires who fit this bill?

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MAR10_KarT
08/29/23 1:10:58 PM
#15:


Of course he did

You think most normal people can get as far as he did in building a business? A normal average Joe has nowhere near the resources Elon has at his disposal

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tankboy
08/29/23 1:13:06 PM
#16:


There's also evidence that he (or his family) essentially bought his degree from Penn. There are significant irregularities involving his diploma.
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Smallville
08/29/23 1:14:29 PM
#17:


tankboy posted...
There's also evidence that he (or his family) essentially bought his degree from Penn. There are significant irregularities involving his diploma.
i thought on wiki it said he never got a degree

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mario2000
08/29/23 1:18:06 PM
#18:


Smallville posted...
do most of you consider musk a better businessman than trump? yeah only a very small percentage of billionaires grew up poor. Especially those that are actually businesspeople and not entertainers. Can you really think of any billionaires who fit this bill?

idk, do you consider cow shit better than dog shit?

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WingsOfGood
08/29/23 1:19:28 PM
#19:


Smallville posted...
i thought on wiki it said he never got a degree

Elon claims he did though. That is the point. He tries to pretend he worked hard or whatever bullshit when literally his family bought him one.
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tankboy
08/29/23 1:21:43 PM
#20:


Smallville posted...
i thought on wiki it said he never got a degree

I see that it says he was (undergrad) dual degree Physics / Econ from Penn, with Penn disagreeing with him about when the degrees were awarded. In the past I have seen Googlable court documents that raise questions about irregularities in his diploma (indeed, the scan of his does not look like mine) and claims that the small group of Physics majors did not know who he was. There are also doubts about his claims regarding being accepted into a Stanford PhD program. I think they say that have no record of it?

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Smallville
08/29/23 1:25:57 PM
#21:


idk alot of these great business people really like to tout that they went to wharton business school if they did. Trump is one of them. Wharton business school is easily like the biggest one. Most of trump's children went there too, iirc

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tankboy
08/29/23 1:37:51 PM
#22:


Smallville posted...
idk alot of these great business people really like to tout that they went to wharton business school if they did. Trump is one of them. Wharton business school is easily like the biggest one. Most of trump's children went there too, iirc

Many of them are hoping that people won't realize that they have undergrad degrees from Wharton, because most business schools don't offer undergraduate degrees. In other words, it's the same thing as saying you were an econ/finance/management/etc. major at Penn (apparently that's not fancy enough for Wharton grads). It's not an MBA.
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BlockAddition
08/29/23 1:42:45 PM
#23:


Elon grew up rich but he also turned millions into billions, that's comparable to you turning a few thousand into a few million

So what's your excuse?
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COVxy
08/29/23 1:44:40 PM
#24:


BlockAddition posted...
Elon grew up rich but he also turned millions into billions, that's comparable to you turning a few thousand into a few million

Say you don't understand money without saying you don't understand money.

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WingsOfGood
08/29/23 1:45:06 PM
#25:


BlockAddition posted...
Elon grew up rich but he also turned millions into billions, that's comparable to you turning a few thousand into a few million

So what's your excuse?

He failed and was bailed out.
That is the privilege only a rich person has.
You look at a company he didn't even make or do anything for that he bought that succeeded and attribute it to him and ignore all his many failures that didn't matter because he was still filthy rich after failing and failing instead of poor and homeless.
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A_Good_Boy
08/29/23 1:45:47 PM
#26:


His family grew up in poverty. The only thing they had to their names was the clothes on their back and an emerald mine.

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DarkBuster22904
08/29/23 1:46:06 PM
#27:


Smallville posted...
do most of you consider musk a better businessman than trump? yeah only a very small percentage of billionaires grew up poor. Especially those that are actually businesspeople and not entertainers. Can you really think of any billionaires who fit this bill?
I consider him luckier than Trump. That's it.

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Gremlynn
08/29/23 1:46:16 PM
#28:


BlockAddition posted...
Elon grew up rich but he also turned millions into billions, that's comparable to you turning a few thousand into a few million

So what's your excuse?

Well see when I nearly destroy my company to gross incompetence and get booted out, I don't get a massive payout from the company for it.

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Smallville
08/29/23 1:47:05 PM
#29:


COVxy posted...
Say you don't understand money without saying you don't understand money.
yeah no shit. dude thought he had some huge gotcha

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tankboy
08/29/23 1:48:39 PM
#30:


BlockAddition posted...
Elon grew up rich but he also turned millions into billions, that's comparable to you turning a few thousand into a few million

So what's your excuse?

Yeah, I mean he grew up with an apartheid-era emerald mine and made billions, but that's like an average person, with merely two or three trafficked/enslaved domestic workers, making millions. It's basically a matter of applying yourself.
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Ruvan22
08/29/23 1:51:51 PM
#31:


A_Good_Boy posted...
His family grew up in poverty. The only thing they had to their names was the clothes on their back and an emerald mine.

Not gonna lie, had me in the first half!
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Shadow_Don
08/29/23 2:05:24 PM
#32:


BlockAddition posted...
Elon grew up rich but he also turned millions into billions, that's comparable to you turning a few thousand into a few million

So what's your excuse?

I hope to god this is trolling

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brestugo
08/29/23 2:32:34 PM
#33:


A_Good_Boy posted...
His family grew up in poverty. The only thing they had to their names was the clothes on their back and an emerald mine.

+1

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A_Good_Boy
08/29/23 2:33:34 PM
#34:


BlockAddition posted...
Elon grew up rich but he also turned millions into billions, that's comparable to you turning a few thousand into a few million

So what's your excuse?
He's not gonna fuck you dude.

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Smallville
08/29/23 10:47:25 PM
#35:


DarkBuster22904 posted...
I consider him luckier than Trump. That's it.
oh really?

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TyVulpine
08/29/23 10:50:13 PM
#36:


Smallville posted...
do most of you consider musk a better businessman than trump? yeah only a very small percentage of billionaires grew up poor. Especially those that are actually businesspeople and not entertainers. Can you really think of any billionaires who fit this bill?
Andrew Carnegie is the only one I can think of.

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Smallville
08/29/23 10:55:42 PM
#37:


TyVulpine posted...
Andrew Carnegie is the only one I can think of.
yeah that was over 100 yrs ago too. It may have been much more common back then than today. So andrew carnegie did come from nothing? how about another billionaire from that time , henry ford?

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Rial_Kai
08/29/23 10:55:54 PM
#38:


Shadow_Don posted...
I hope to god this is trolling
That's all he does.

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TyVulpine
08/30/23 9:26:25 AM
#39:


Smallville posted...
yeah that was over 100 yrs ago too. It may have been much more common back then than today. So andrew carnegie did come from nothing?
His parents struggled, as Scotland was in the middle of a famine, his father lost his job, and his mother had to help by selling potted meats at her sweet shop. They eventually emigrated to the US.

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Robot2600
08/30/23 9:36:48 AM
#40:


also his dad impregnated elon's half-sister i believe they are still together

they are not human

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Torgo
08/30/23 9:38:05 AM
#41:


Yes, Musk's family was rich from an apartheid era emerald mine in South Africa.

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Block_that_Kick
08/30/23 9:44:30 AM
#42:


Smallville posted...
do most of you consider musk a better businessman than trump? yeah only a very small percentage of billionaires grew up poor. Especially those that are actually businesspeople and not entertainers. Can you really think of any billionaires who fit this bill?

Scrooge McDuck

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Torgo
08/30/23 9:45:14 AM
#43:


BlockAddition posted...
Elon grew up rich but he also turned millions into billions, that's comparable to you turning a few thousand into a few million

So what's your excuse?

Start two similar looking people at the same age with the same basic education off with the goal of making $100,000 in additional liquid capital. Clear any debt they have and give one $1,000,000 and the other two weeks worth of minimum wage pay in cash.

Unless the guy with a million really fucks up, he's going to be able to easily make another 100K before the other guy can even get himself established. This is assuming his business plan doesn't fail... which most ultimately do. The man with a million can just invest in a diversified portfolio, and sit back with very low risk and win over time.

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Avirosb
08/30/23 9:45:33 AM
#44:


McMarbles posted...
His dad owned an emerald mine. So... yeah, Musk is full of crap.
Ah, that explains the shape.

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Smallville
08/30/23 9:53:13 AM
#45:


Torgo posted...
Start two similar looking people at the same age with the same basic education off with the goal of making $100,000 in additional liquid capital. Clear any debt they have and give one $1,000,000 and the other two weeks worth of minimum wage pay in cash.

Unless the guy with a million really fucks up, he's going to be able to easily make another 100K before the other guy can even get himself established. This is assuming his business plan doesn't fail... which most ultimately do. The man with a million can just invest in a diversified portfolio, and sit back with very low risk and win over time.
yeah this is very true , but a lot of people think differently. If you already have like at least a few million, it makes making many more millions a heck of a lot easier. Are there really any modern billionaires who even really did come from nothing?

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ClayGuida
08/30/23 10:01:33 AM
#46:


He only started out being worth tens of millions.

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Avirosb
08/30/23 10:02:07 AM
#47:


No billionaire is self-made.
Even the ones digging up gold depended on other people giving gold value.

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ClayGuida
08/30/23 10:03:57 AM
#48:


Smallville posted...
yeah this is very true , but a lot of people think differently. If you already have like at least a few million, it makes making many more millions a heck of a lot easier. Are there really any modern billionaires who even really did come from nothing?
iirc Bezos got a loan from his parents for like 250k afaik, his ability to turn that into a hundred billion is extraordinary. Warren Buffet took 75k and turned it into his empire.

So there is precedent, but for some reason many of these assholes like to pretend they're rags to riches stories, when like 99.9% of them are just inherited wealth.

Like for whatever reason, Musk likes to pretend he lived in squalor for most of his childhood and shit.

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Avirosb
08/30/23 10:10:01 AM
#49:


ClayGuida posted...
iirc Bezos got a loan from his parents for like 250k afaik, his ability to turn that into a hundred billion is extraordinary.
It helps when you squeeze your employees for what they're worth and don't let them sit during work.

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ClayGuida
08/30/23 10:11:40 AM
#50:


Avirosb posted...
It helps when you squeeze your employees for what they're worth and don't let them sit during work.
Absolutely, but if it was so easy, everyone with 500k in the bank would make a trillion dollar company.

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