He doesn’t sell his stock, he just takes out a loan against it so it’s not treated as income. I guess he’d actually have to pay tax if the bill passes so he would be shook.
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He would have to pay or give to charity. If this passes he will owe $100 billion plus.
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if it passes, it’s +EV for him to spend a cool tax-deductible $1b trying to sue all the way to the supreme court. if nothing else it will delay paying $100b, like a free loan.
still worth to ram it through. watching musk and bezos squirm uncomfortably might be the closest we come to moral justice.
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Remember that somewhere along the way that the $100 million was grifted from the middle class and the poors.
It was just one thief stealing from another thief.
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Without the government allocating him a fuck-ton of capital, he wouldn’t have a rocket business.
But but but he paid back the loan…
Was a real common response I saw from Musk trolls in a twitter thread. 
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Capital re-allocation imo.
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i was mad as hell about redistribution of wealth, but i am ok with capital re-allocation.
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Buy Sinema her own winery would cost maybe 1/10,000th of that 100bn.
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So when is Brazil election? I thought it would have happened already. There was talk that he was a lock to lose and he was going to do a coup
Oct 2022 but decent odds that never happens, he’s down 20 points in the polls atm and he’s not just gonna leave so
and he already has told brazil’s scotus to **** off
onion because not enough glowing praise for bolsonaro
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I’ve been trying to figure this out for years. I hear it all the time, but what I don’t understand is how exactly you do it. I have even asked a couple of CPAs. Nothing.
Maybe it’s something that you need a lot of money to be able to do, but even then no one can tell me how much one needs to get into that game or how people with whatever that amount of money is do it.
If anyone knows the mechanics of this, I’d love to hear about it?
I assume it’s like taking out a 2nd mortgage, except instead of your house as collateral it’s a few shares of Tesla?
Sure.
-Now what bank can I go to get this loan?
-What happens if I default on the loan? Do they just take the Tesla stock?
-If they take the Tesla stock from me for defaulting on the loan is there any taxable event that takes place?
-If the answer to above is no, what prevents me from just taking the loan and intentionally defaulting immediately. They take my appreciated Tesla stock. I keep the cash that was loaned. No one pays any tax. Everyone profits.
The mechanics are simple. You own $100 million of stock with a basis of zero. A bank gives you a line of credit collateralized by the stock. You borrow money instead of selling stock. If you’re clever you find a way to deduct the interest. When you die, the $100 million gets a stepped up basis and the outstanding loans are deducted from your taxable estate.
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Haha no fucking clue. I wonder if there’s ever a possibility of defaulting on the loan, or if he just puts more stock up whenever he needs.
It’d be a shame to see him wiped out if Tesla stock crashed 80%.
Great! Now where I can I go to do this? I’m sure if I call up Wells Fargo, they’re gonna be like lolwat?
What happens if you exceed the line of credit before you die?
No they will happily do this. Like if you walk into Wells Fargo they will literally close in a week. They’ll set an advance rate of like 50% and if the stock goes down they will require a pay down or start liquidating the stock. This is basic blocking and tackling shit for rich people.