Quote:
Originally Posted by Enoch Root
Seriously though, you can't simply make up for losing $44B. But you can crystalize unrealized gains, in order to reduce your tax liability. An overly simplified example:
1) you lose $44B on Twitter (LOL)
2) you have $100B in unrealized gains on TSLA (because you don't realize the gains until you sell the asset)
3) on that $100B, let's say you owe $50B in taxes (for easy math - in reality, it would be less than this)
4) you crystalize $44B of TSLA, matching the loss on Twitter, and subsequently reducing your tax liability by $22B
That doesn't just make the $44B loss magically go away, but assuming that he has unrealized gains (there is zero doubt that he does), he can at least reduce his future tax liabilities, somewhat reducing the hit.
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Well that “crystallized loss on his reputation” is the bigger issue. Like there were a lot of people who seem to think he’s brilliant, but this has been a debacle. It’s pretty clear he has no idea what he’s doing.