In 2016, Musk paid $24.25 million to buy a new mansion in Los Angeles’ exclusive Bel Air neighborhood according to Variety —and he has his sights on much more. Musk’s most recent acquisition is actually his fifth home in the same neighborhood, and he’s currently still building it. Combine that with the $48 million he spent on previous homes, and his total real-estate dent in the area is around $72 million.
So he has no property he can sell or borrow against?
Utter bullshit of course; but in a sort of interesting way.
If he’s pretending that ‘doesn’t feel like liquidating’ is the same as ‘illiquid’, then he’s simply lying; that’s like saying that you are broke when you don’t want to open your wallet.
If he’s claiming that a nominal net worth north of $20 billion is tied up in financial instruments that cannot be sold except in the most extreme of fire sales that…is remarkably big news…for anyone with an interest(positive or negative) in the value and future of the companies he has shares in.
Doubly so when he’s not exactly in the bracket limited to sketchy payday lenders. Even if his stock is tied up in some sort of byzantine contract hell that keeps it from being sold readily; if it’s worth something he could get someone to lend him money against it pretty trivially(especially in the quantities that even a real hammering in court might involve). If he can’t find someone willing to do that, again…interesting…news for the actual value of his holdings and health of the companies they are in.
My suspicion is that this is just garden-variety weasel behavior; but it’s still something that would be pretty big news indeed if he were not lying; since that would mean that things are actually pretty dire, and in that heavily leveraged and hype driven way that can come crashing down once the collective euphoria wears off.
This is the epitome of heredity wealth and white privileged entitlement: a literal “the law only applies to me if I want it to,” straight out of the age of petty fiefdoms. Only an upbringing that teaches that consequences are what happen to other people creates an Elon Musk. Musk is what Donald Trump imagines himself to be. If you wonder why people say that there should be no billionaires, or why they post memes that invoke some of the bloodiest events from history, this is why. Because of people like this who feel safe standing up in a court of law and have no fear in saying “fuck you,” with the confidence that nothing will be done. The amount he is being sued for is literally pocket change to him. This is why he wanted to be sued, for the thrill of demonstrating his power, of his elite standing… to show he’s untouchable, unlike the rest of us slobs who will end up working for him, at the end of the day.
And anyone who laps it up is no different than a MAGA fool. He’s laughing at you, not with you. He’s not sticking it to The Man, he’s saying he is The Man and he’ll crush you or ignore you according to his whims.
It’s not pocket change. It’s “damages to be determined at trial.”
Yeah, bloomberg paywall makes it more difficult to dig in, but according to Elon Musk Is Cash Broke, Uses Burner Phones: Pedo-Guy Lawsuit Shockers | Observer
$75,000 in damages demanded by the plaintiff
It seems to me that lawsuits are hugely technical undertakings, and the docket is largely impenetrable to someone who has not passed the bar.
The complaint does not ask for $75,000. It asks for an amount in excess of $75,000 as determined to be reasonable and just. Which might turn out to be quite a lot of money.
The trial starts on December 2 unless there are no facts in dispute. Musk has asked for summary judgement, but I’m willing to bet that Vernon Unsworth will dispute this. Unsworth wants to continue discovery.
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