Shame!
by Burton Feinberg
With the launch of the SpaceX IPO on the stock market, the hitherto profit-less company raised two trillion dollars. Founder and CEO, Elon Musk, who owns 84% of the stock thus became the world’s first trillionaire. (For those who might be unfamiliar with the number, a trillion is a million million.)
Putting aside the “bad optics” and poor taste of this spectacle when hundreds of thousands are homeless, and millions are “food insecure,”let’s just focus on Musk, the man.
When he was already the richest person in the world, before the IPO, Mr. Musk gained political power by being appointed to a semi-official position, by President Donald Trump. His first decisions were to cut food and medicine funding for the neediest, not just in Africa and the Third World, but here in the U.S.A. as well. His actions, approved by the Administration, caused suffering and death to countless people, perhaps millions.
One might wonder – what portion of that trillion will buy loaves of bread?
It is painful to consider the health of a society that allows a man so devoid of ethical principles – a man so evil – to be rewarded in the way he has.
This Ethical Times post is presented by the Westchester Community for Ethical Culture.
It's a truly unfathomable amount of "wealth", one that owes much to clever financial engineering.
This "net worth" is due largely to the "valuation" of companies. Who assesses that value?
He is pumping up his own value. Time will tell if and when he is dumped.