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Corporate America and The Capitalist Agenda [Part 1]

George Gilder

Posted January 11, 2021

George Gilder

So Elon Musk is supposedly America’s “richest” man. His net worth has soared ten-fold in the last year from some $18 billion to $185 billion.

Wow! That’s an amazing ride on a battery-fueled rocket. And a sore temptation for aspiring wealth-taxers everywhere.

Chiefly impelling this ascent into stratospherically realms are not his exemplary reusable SpaceX missiles or his putative Neuralink AI brain implants, but his Tesla (TSLA) stock.

The key to Musk’s new pinnacle is the coming climate change of a Biden presidency. It means that the US will join the global regulatory rush toward battery-driven electric vehicle mandates and subsidies galore.

These battery-powered vehicles are known as BEVs, or billionaire elevation vessels.

I call them Thunberg’s, because most of the power impelling these devices comes from politicians feeding on the moral fervor and economic gullibility of the CO2 abolition movement, as epitomized by the beatification of Norwegian damsel Greta Thunberg.

Whose Line Is It Anyway?

In coming years, people will buy Tesla’s to mollify the climate as compliantly as they currently don masks to suppress COVID. It’s all enshrined in the Great Reset and Green New Deal.

Musk himself is the investment king of this missionary cause.

Amazon founder Jeff Bezos now lags behind Musk at a mere $184 billion. This is good news if it means that coronadoom politics will wane. Amazon has been a prime beneficiary of lockdown mania.

Based on experience with the pan-China supply chains for Tesla’s Shanghai Gigafactory, which remained untouched by the virus, Musk has been a corona-skeptic. He kept his factory going in Fremont, California, in the face of lockdown mandates from Governor Gavin Newsom. Then Musk moved his headquarters out of California anyway.

Musk’s doubts about coronadoom were not merely self-serving. Getting tested four times in a week, with two positives and two negatives and no symptoms, will also do that to you.

Musk and Bezos represent a titanic billionaire boom that is cited by the left as signaling the “obscene” excesses of capitalist wealth. Mrs. Laureen Powell Jobs, who is “worth” nearly $30 billion from Steve, recently declared her opposition to such private troves of capital.

“It’s not right for individuals to accumulate a massive amount of wealth that’s equivalent to millions and millions of other people combined,” she told The New York Times. “There’s nothing fair about that.”

But the wealth of entrepreneurs is entirely different from the wealth of ordinary people. Most people’s holdings are liquid. They impose little responsibility or challenge. They can be converted quickly to buying power and turned into vacations and fancy cars or mortgage payments.

If Musk began to sell his Tesla shares, they would lose their value faster than he could shed them. As Bill Gates put it in his earlier days, “I am bound to the mast of Microsoft.” Similarly, Musk’s wealth is based on projected miracles of growth for his companies, which depend on the continued engagement of their founders.

These expectations are a burden for their owners as much as a boon.

The economists around Biden give a further rationale for taxing away the wealth of billionaires.

More on this tomorrow…


George Gilder
Editor, Gilder's Daily Prophecy

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