While I love this, can someone explain what exactly this means for a company? How exactly does this hurt them or their Nazi leader? If I’m worth 500 billion and lose 150 billion, how does my life change?
The mega wealthy use their stock as collateral for extremely low interest loans. They need 100 million dollars? They take out a 100 million dollar loan at 1%/yr interest and stake 100 million of stock as collateral.
This way, they get 100 million to spend ans pay 1% as “tax,” not the 15% that capitol gains demands.
The less value his stock holdings have, the less collateral he has, the less money he has, the less power he has.
From a wider stance, severely gutting the wealth of a billionaire by organized class action is a loud and clear warning to other billionaires to pump the brakes on trying to restart the gilded age. Millions and millions of people working together can hurt them more than a tiny few of the ultra wealthy, ultra connected can help them. That’s the point.
While I love this, can someone explain what exactly this means for a company? How exactly does this hurt them or their Nazi leader? If I’m worth 500 billion and lose 150 billion, how does my life change?
The mega wealthy use their stock as collateral for extremely low interest loans. They need 100 million dollars? They take out a 100 million dollar loan at 1%/yr interest and stake 100 million of stock as collateral.
This way, they get 100 million to spend ans pay 1% as “tax,” not the 15% that capitol gains demands.
The less value his stock holdings have, the less collateral he has, the less money he has, the less power he has.
From a wider stance, severely gutting the wealth of a billionaire by organized class action is a loud and clear warning to other billionaires to pump the brakes on trying to restart the gilded age. Millions and millions of people working together can hurt them more than a tiny few of the ultra wealthy, ultra connected can help them. That’s the point.
Make billionaires wary again.
And if we’re really lucky, the value of TSLA will fall enough that he gets a margin call and is forced to sell shares to pay back the loans.