Not a scam IMO, I don’t think musk is that motivated by wealth but im sure plenty of the heavy hitter investors are. I’m sure he didn’t complain about the valuation however. I think SpaceX is a solid well run company (praise be to Gwen Shotwel) but $1T is a bit much. I’ll eventually buy in when things settle down and we have a few quarters of financial data to work with.

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epistasis a day ago | parent | next [-]

What you describe is exactly a scam: he somehow convinced you that he's not motivated by wealth! That alone is clearly a scam, the idea that Musk is not motivated by huge amounts of wealth and high valuations is just implausible considering g his behavior at every single turn.

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CrimsonRain a day ago | parent [-]

What is he doing with all that wealth? Taking lavish vacations? Buying luxurious yacht? Buying islands and making bunkers?

	▲	sailfast a day ago \| parent \| next [-]
		I would much prefer Mr. Musk found a nice hobby like yachts or race horses instead of buying communication platforms, bulldozing regulations, and bribing officials with PAC money. That said, he needs the wealth to keep the whole machine from falling over. One element might be stable but the rest is overstretched and about to go bankrupt at any minute. He is doing this to get back control of Tesla while also investing in AI and not exploding. He is running forward falling and his wealth legs need to keep up or it all goes down hard (and takes a bunch of bagholders with)
	▲	epistasis a day ago \| parent \| prev \| next [-]
		Having the wealth, of course, the glory of being the richest man to have walked earth. Spending it is not the goal, having the wealth is. Remember the ridiculous Tesla compensation package that he demanded? That's about having wealth, it's not about spending it.
	▲	nicholassmith a day ago \| parent \| prev \| next [-]
		> Buying islands and making bunkers? It was reported a few years back he'd built a bunker in New Zealand.
	▲	root_axis a day ago \| parent \| prev \| next [-]
		He spent $300 million in cash (more than any individual donor in history) to help elect the current president.
	▲	gambiting a day ago \| parent \| prev \| next [-]
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	▲	mothballed a day ago \| parent \| prev [-]
		IDK what the calculation is for rich people, but for middle class who had that many children by that many women I don't think the state would leave them anything to survive on other than maybe prior savings.

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a day ago | parent | prev | next [-]

[deleted]

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evilfred a day ago | parent | prev | next [-]

SpaceX makes its revenue from renting out GPUs

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criley2 a day ago | parent | prev [-]

> "Not a scam IMO"

> "I think SpaceX is a solid well run company"

This should be all the proof you need that it's a scam. Here's why:

The company isn't "SpaceX" it's "SpaceXAI", and nearly all of the valuation comes from the "AI" component, not the "SpaceX" component.