I mean, if they've mortgaged themselves by borrowing against their paper wealth, and that paper wealth drops precipitously via boycotts such that they are underwater on their loans, then you can definitely hurt them. There's a reason why a certain fashy billionaire is panicking right about now.
Reposted from
Neysa Jensen
Another thought about boycott is that a billionaire makes so much money off of the money they already have, that it's very hard to impact that. Sure, a boycott can cost them money, which they make back doing absolutely nothing.
Comments
Nah happens all the time.
we go
Tesla tesla tesla
we went
#VoteWithYourWallet
#StrongerTogether
And if you can't pay it, you're wiped out.
Just got an email from Amazon about shopping Canadian. 😂 Nope. I'm buying from small retailers.
I’m not seeing the transactional thinking here. What am I missing ??
Anyway, impoverishing plutocrats doesn't undo their damage, it's small consolation.
"Seems to me the best way to get back at rich people is to turn them into poor people."
Trump could bail him out. He can also intimidate the banks as he has power now to cripple whole systems.
Does anyone know for sure?
In the replies there seems to be some debate as to what exactly the number is and what the specific outcome would be.
https://www.threads.net/@lucasbrowneyes/post/DHE2Yaly5Op?xmt=AQGzN0Vld_2R5rJsr3Dkgkgg2OKKQO-pDoe_qQ0vqHgFug
Even if he loses Tesla (he won't), he still has SpaceX, which unfortunately really is a marvel, even with a couple of Spaceships exploding.
Remember: he never sold as many Teslas as way back when he used to fake being liberal.
The longer a boycott goes, the more likely more people will dump or remove him as a liability.
Maybe he could put a huge tariff on things that people don't buy. 🤣 Tariffs solve everything.
Imagine being reduced to mere wealth from "loose nuke" levels of capital.
ask kanye
Others are happy that in a short while they'll be able to sell things that didn't topple, and buy now under-valued cheap stocks that will go up again.
For someone who has billions, it doesn't matter if they pay 1 or 2 millions in taxes. Their life-style won't change. They will still be able to afford several yachts.
THAT is what can hurt Musk. When the stockholders take enough of a drubbing, they can oust him.
Keep it up. Drive Tesla, Starlink and SpaceX out of business. Don’t let up.
You've heard how the ultra-wealthy, instead of selling their stocks, borrow against them to get cash, but it's not income so it's not taxed? Then they pay off the first loan w a second one, etc? Then their heirs inherit & the gains are never taxed?
But this only works as long as the stocks keep going up. You can't pay off a $200 debt if you can only borrow $100.
See where this is going?
By crashing the stocks, he can become under-collateralized, & the banks can call his loans.
He'll have to liquidate, which is a taxable realization event. Then he'll need even more cash to pay his taxes, etc.
Depending on how much debt he has, & stock prices, he could be ruined.
The boycott is a circle jerk.
Want to hurt him for real? Do the difficult thing.
Buy the stock, vote him out, dump the stock.
But sure, keep going with the ego stroke, it just won’t solve it.
By trading him authentic, legitimate currency for his shares?
Hard pass.
🤷🏻♂️