Yawweee877h444@lemmy.world to politics @lemmy.world · 1 day ago‘I don’t think we should have billionaires’: mayor Zohran Mamdani in his own wordswww.theguardian.comexternal-linkmessage-square79fedilinkarrow-up1935arrow-down17 cross-posted to: [email protected]
arrow-up1928arrow-down1external-link‘I don’t think we should have billionaires’: mayor Zohran Mamdani in his own wordswww.theguardian.comYawweee877h444@lemmy.world to politics @lemmy.world · 1 day agomessage-square79fedilink cross-posted to: [email protected]
minus-squareDaddleDew@lemmy.worldlinkfedilinkarrow-up97·edit-21 day agoExcept that they do just that by borrowing money against their stocks, which also incidentally allows them to avoid paying taxes. That’s how Musk bought Twitter.
minus-squarekautau@lemmy.worldlinkfedilinkarrow-up48·1 day agoYup, their latent wealth grows faster than what they borrow to use as actual spending, they literally don’t spend money, they accumulate it
Except that they do just that by borrowing money against their stocks, which also incidentally allows them to avoid paying taxes. That’s how Musk bought Twitter.
Yup, their latent wealth grows faster than what they borrow to use as actual spending, they literally don’t spend money, they accumulate it