A key insight I had on how ”it is expensive to be poor“ was when I was helping someone manage a large amount of money, and the financial advisor pointed out this trick. You don’t sell your holdings and live off the proceeds, because that triggers taxes. You take out loans instead.
Jason Wright
So, Musk got a roughly +$300 billion increase in his net wealth overnight. Amount of taxes paid on this: $0, as it is unrealized wealth. But he could surely get insane loans based off it.
