1 00:00:00,040 --> 00:00:03,000 Speaker 1: All right, so he's the first person ever worth seven 2 00:00:03,120 --> 00:00:08,400 Speaker 1: hundred billion dollars. Who is it, Let me guess, Elon Musk, Yeah, 3 00:00:08,440 --> 00:00:12,240 Speaker 1: it's him. This after a Delaware Supreme Court restored his 4 00:00:12,480 --> 00:00:18,919 Speaker 1: voided Tesla stock options because he needed them. He needed 5 00:00:18,920 --> 00:00:21,000 Speaker 1: the options. They were worth one hundred and thirty nine 6 00:00:21,040 --> 00:00:25,960 Speaker 1: billion dollars. Forbes has been discounting the options since twenty 7 00:00:26,040 --> 00:00:29,480 Speaker 1: twenty four, but now that the court made their decision, 8 00:00:30,280 --> 00:00:34,800 Speaker 1: they've restored their full value. And congratulations to Elon Musk 9 00:00:34,880 --> 00:00:37,960 Speaker 1: for being worth seven hundred billion dollars. 10 00:00:38,040 --> 00:00:40,159 Speaker 2: Yeah. This goes back to a court battle about a 11 00:00:40,240 --> 00:00:43,200 Speaker 2: year ago. And this is why a lot of companies 12 00:00:43,320 --> 00:00:46,120 Speaker 2: incorporate in the state of Delaware, because they have a 13 00:00:46,200 --> 00:00:48,840 Speaker 2: very friendly business environment when it comes to corporate rules 14 00:00:48,840 --> 00:00:53,120 Speaker 2: and regulations. And then, out of nowhere, which just never happens, 15 00:00:53,400 --> 00:00:57,560 Speaker 2: somebody brought a suit in Delaware challenging Elon's Tesla compensation 16 00:00:57,880 --> 00:01:00,320 Speaker 2: and saying it was too much, and shockingly, like for 17 00:01:00,320 --> 00:01:03,680 Speaker 2: the first time ever, maybe judge said yep, nope, that's 18 00:01:03,680 --> 00:01:08,480 Speaker 2: too much, and and it wiped out several hundred billion 19 00:01:08,560 --> 00:01:12,759 Speaker 2: dollars of wealth away from Eli's or Elon's net worth 20 00:01:13,120 --> 00:01:15,800 Speaker 2: and now a court has reversed that, so it was 21 00:01:16,080 --> 00:01:19,640 Speaker 2: it was a two hundred million dollars two hundred billion 22 00:01:19,720 --> 00:01:23,000 Speaker 2: dollar added back to Elon Musk's net worth in this process. 23 00:01:23,120 --> 00:01:27,040 Speaker 1: So he owns twelve percent of Tesla stock, plus he's 24 00:01:27,040 --> 00:01:30,319 Speaker 1: got those stock options, and that brings his entire Tesla 25 00:01:30,360 --> 00:01:32,920 Speaker 1: holdings up to three hundred and thirty eight billion. He 26 00:01:33,360 --> 00:01:36,960 Speaker 1: received a new pay package in November and that could 27 00:01:36,959 --> 00:01:39,800 Speaker 1: add up to one trillion dollars if Tesla hits their 28 00:01:39,880 --> 00:01:44,000 Speaker 1: growth goals. He also owns forty two percent of SpaceX, 29 00:01:44,720 --> 00:01:47,920 Speaker 1: now worth three hundred and thirty six billion, not quite 30 00:01:47,960 --> 00:01:49,280 Speaker 1: as much as Tesla. 31 00:01:49,240 --> 00:01:51,400 Speaker 2: Right there, but that that's going to flip. I mean 32 00:01:51,400 --> 00:01:53,800 Speaker 2: we're in the next year SpaceX is going to be 33 00:01:53,800 --> 00:01:54,880 Speaker 2: worth more than Tesla. 34 00:01:54,800 --> 00:01:58,120 Speaker 1: Well right, because you've got SpaceX introducing their IPO in 35 00:01:58,160 --> 00:02:00,680 Speaker 1: twenty six and that could push the value up to 36 00:02:00,720 --> 00:02:04,880 Speaker 1: one point five trillion. That will make Elon Musk the 37 00:02:05,000 --> 00:02:09,240 Speaker 1: first trillionaire. The second richest person behind Elon Musk, is 38 00:02:09,240 --> 00:02:14,440 Speaker 1: it Larry Ellison, Larry Page. Oh different, he's the co 39 00:02:14,480 --> 00:02:17,880 Speaker 1: founder of Google. He's worth two hundred and fifty three billion, 40 00:02:18,080 --> 00:02:21,080 Speaker 1: which is about a half a trillion less than musk. 41 00:02:21,280 --> 00:02:24,720 Speaker 1: When you get into such big numbers like that, it's 42 00:02:24,840 --> 00:02:27,799 Speaker 1: like if you and I dropped a dollar bill on 43 00:02:27,880 --> 00:02:30,560 Speaker 1: the floor, or a five or a ten, we would 44 00:02:30,639 --> 00:02:34,119 Speaker 1: take the time to pick it up. For them, it's 45 00:02:34,240 --> 00:02:37,760 Speaker 1: like dropping a penny. It's just whatever they just move. 46 00:02:37,560 --> 00:02:40,639 Speaker 2: On, stays on the ground. You can debate whether or 47 00:02:40,720 --> 00:02:43,840 Speaker 2: not billionaires are paying enough taxes in this country, but 48 00:02:43,919 --> 00:02:46,320 Speaker 2: this was the right court ruling. The courts have no 49 00:02:46,520 --> 00:02:51,160 Speaker 2: business being involved in the compensation between a private business 50 00:02:51,240 --> 00:02:54,600 Speaker 2: and a private individual running that company. That ruling that 51 00:02:54,680 --> 00:02:56,560 Speaker 2: initially came out around a year ago in the state 52 00:02:56,600 --> 00:03:00,000 Speaker 2: of Delaware was horrendous. It made a lot of people 53 00:03:00,120 --> 00:03:02,960 Speaker 2: rethink whether they should be incorporating their businesses in Delaware. 54 00:03:03,000 --> 00:03:05,640 Speaker 2: But the federal of the government has no business between 55 00:03:05,680 --> 00:03:08,600 Speaker 2: a private compensation agreement through the private company and a 56 00:03:08,639 --> 00:03:12,040 Speaker 2: private individual. So the repealing of that initial ruling was 57 00:03:12,080 --> 00:03:13,400 Speaker 2: the right move here. Now you want to say, if 58 00:03:13,400 --> 00:03:15,280 Speaker 2: you want to talk about it, we're not taxing billionaires enough. 59 00:03:15,280 --> 00:03:18,000 Speaker 2: Great different conversation, but the government needs to be out 60 00:03:18,000 --> 00:03:19,600 Speaker 2: of private compensation deals.