{"id":12390,"date":"2024-10-14T12:45:44","date_gmt":"2024-10-14T12:45:44","guid":{"rendered":"https:\/\/sportnews.drinkfood.info\/?p=12390"},"modified":"2024-10-14T12:45:44","modified_gmt":"2024-10-14T12:45:44","slug":"elon-musk-will-use-all-his-assets-to-run-for-us-president-after-this-term-if-donaltrump-loses-1-is-to-become-president-2-is-to-lose-everything-under-see-more","status":"publish","type":"post","link":"https:\/\/sportnews.drinkfood.info\/?p=12390","title":{"rendered":"Elon Musk will use all his assets to run for US president after this term if DonalTrump loses, 1 is to become president, 2 is to lose everything under\u2026. See more."},"content":{"rendered":"

<\/h3>\n

According to Informa Connect Academy, Space X boss Elon Musk is on track to become the world\u2019s first trillionaire by 2027. Among billionaires, Musk\u2019s fortune is closest to 13 figures and is growing steadily.<\/h3>\n

 <\/p>\n

According to the Bloomberg Billionaires Index, Musk was only worth about $28.5 billion at the beginning of 2020. By the end of that year, the SpaceX boss\u2019s fortune had increased to about $167 billion, and as of September 2024, the entrepreneur\u2019s net worth is estimated at about $265 billion.<\/p>\n

The biggest source of Musk\u2019s wealth is Tesla stock, which has skyrocketed during the Covid-19 pandemic. Tesla stock hovered around $30 a share in January 2020. By January 2021, the electric carmaker\u2019s stock had skyrocketed to nearly $300 a share.<\/p>\n

<\/a><\/p>\n

The Bloomberg Billionaires Index estimates Elon Musk\u2019s fortune at around $265 billion and growing.<\/p>\n

\u201cIf you look at the list of the richest Americans, whether we\u2019re talking about Elon Musk or Jeff Bezos, the reason people get super rich is they start a company and try to grow that company,\u201d said James Pethokoukis, an economic policy analyst at the American Enterprise Institute.<\/p>\n

\u201cThe reason that company continues to grow and grow is that it is creating something of value that people want,\u201d said Mr. Pethokoukis.<\/p>\n

The wealthiest individuals typically invest the majority of their wealth in the stock market, while middle-income households tend to invest more in real estate.<\/p>\n

<\/p>\n

According to Federal Reserve data, as of mid-2024, the richest 1% of Americans owned nearly 50% of all US stocks, while the poorest 50% of Americans held only about 1% of all stocks.<\/p>\n

About 58% of households owned stocks in 2022, either directly or indirectly through passive investments like retirement accounts.<\/p>\n

\u201cWealth inequality is largely driven by the prices of different assets,\u201d said John Sabelhaus, a fellow at the Brookings Institution. \u201cOne of the things that will increase wealth inequality when measured is the stock market.\u201d<\/p>\n

<\/a><\/p>\n

Musk\u2019s other company, SpaceX, has just been granted permission by the US Federal Aviation Administration to launch the Starship 5 spacecraft.<\/p>\n

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There is also debate about the role taxes play in contributing to wealth inequality in the US. While some, including Pethokoukis, argue that large compensation packages are a reward for creating a successful company, others, like Sabelhaus, argue that loopholes in the tax system create a level playing field.<\/p>\n

\u201cEspecially over the past quarter century, changes in tax policy have made it much harder to tax the rich. There are more exceptions, more ways to avoid paying taxes,\u201d Mr. Sabelhaus assessed.<\/p>\n

Many Americans earn their income primarily by trading their time and skills for wages, which are taxed based on how much an individual earns. On paper, the income of the super-rich is not entirely clear.<\/p>\n

\u201cIf we think about income as a kind of improvement in a person\u2019s spending power over time, you and I both have paychecks. And those paychecks measure how much we can spend. But for someone as rich as Musk, only a small portion of that income is considered taxable income because most of it is bonuses and other forms of pay that are easy to avoid taxes,\u201d Sabelhaus added.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

According to Informa Connect Academy, Space X boss Elon Musk is on track to become the world\u2019s first trillionaire by 2027. Among billionaires, Musk\u2019s fortune is closest… <\/p>\n","protected":false},"author":8,"featured_media":12391,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-12390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-animal-world"],"yoast_head":"\nElon Musk will use all his assets to run for US president after this term if DonalTrump loses, 1 is to become president, 2 is to lose everything under\u2026. 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