₦airaland Forum

Gboss247:
Last time I checked, cash were the lowest class of money designed to depreciate in value per seconds.

Every asset class has volatility built in, even precious elements and stones. Cash is volatile, yes, but it's something that loses value slowly over time in stable economies.

Shares and stocks have the most volatility as a store of wealth, hence why underwriting is a whole class of business around the exchanges. How volatile is it? Consider this:

-Bill Hwang: The founder of Archegos Capital Management lost around $20 billion in just 48 hours when his heavily leveraged fund imploded in March 2021. The collapse ranks among the largest and fastest single-trader wealth wipeouts in financial history.

-Jeff Bezos: The Amazon founder saw his net worth drop by $20.5 billion in a single 24-hour period during a major April 2021 stock market session.

-Michael Saylor: The MicroStrategy founder famously lost roughly $6 billion in a day during the 2000 dot-com crash.

-Aliko Dangote: Africa's richest man experienced a $5.4 billion drop in his net worth on a single day in February 2024.

addictiv:
Who knew we would be seeing trillionaires in our lifetime. Before you know it, others will start crossing the 13 figure benchmark.


**UPDATE**

One thing people need to understand is this: wealth is not the same thing as cash. Some people say Elon Musk’s wealth is not real because it is not all sitting in a bank account. That is a poor understanding of how serious wealth works. The richest people in the world do not keep most of their wealth as cash. They keep it in ownership. Shares are wealth. Equity is wealth. Companies are wealth. Property is wealth. Assets are wealth.

If Musk wants to buy a $500 million private island, he does not need to have $500 million lying idle in his account. He can borrow against a small part of his equity, use that money to buy the island, and now he owns another asset. The same principle applies to houses, cars, private jets, yachts, companies, land, infrastructure or any major acquisition. He does not have to sell his shares unless he chooses to. His assets and net worth give him access to credit because lenders know there is real value behind the loan.
He can then service that loan from cash flow, business profits, salary, refinancing, or other income. And if his companies and investments continue growing faster than the cost of borrowing, he will still become richer overall while owning the asset.

That is the difference between cash thinking and asset thinking. Many people think buying something means money has disappeared. Wealthy people think differently. They look at assets, liabilities, collateral, cash flow, appreciation and control.

So no, Musk does not need billions sitting in a current account for his wealth to be real. His wealth is real enough for banks to lend against it. Real enough to buy assets. Real enough to attract investors. Real enough to create more financial power.
Paper wealth does not mean fake wealth. It means ownership. And ownership is one of the strongest forms of wealth in the world.

Exactly!
I applaud your logical and well articulated assertion.

1x2x3:
Mentality of average Nigerian. Paper money made by men for men's use has nothing to do with God.

You don't have education at all. Money is not paper. Goan read more about money ok. As a Nigeria like you said.. you can as well pray to your God to remove anything money or the one you called paper from your life.

frankblinkz:
I just want to remind the world that an African man is the richest man in the world.


Mansa Musa of Mali once did it

Musk isn't an African. His father isn't originally from SA

Goo0dHardDick:
Musk isn't an African. His father isn't originally from SA

Elon musk is Pure African.
Born in Pretoria city South Africa to a south African father and a Canadian mother.


Google is your friend

Geeflow:
Did it by stealing all the country's wealth

How did one man steal the world's riches, He must be a genius. Kudos to Him

Omoawoke:
When he’s done…

He should go and buy moon and also buy like 2 planets

There’s no quality of life that Elon musk cannot afford that Odetola cannot afford..


No quality of life that Odetola cannot afford that Segun Agbaje the Chairman of Gtbank cannot afford


The thing is, there’s a limit of money you get that you can no longer acquire any new luxury …
Or else if he wants to buy life and add more decades to his age

Poor people are good at analysis that add no value to the human chain.. 😂

frankblinkz:
Elon musk is Pure African.
Born in Pretoria city South Africa to a south African father and a Canadian mother.


Google is your friend

I just told you that his father isn't originally from SA. It's just like saying a Nigerian born in SA is of SA origin, Just because his father naturalized there? Lol. The joke is on you.

Goo0dHardDick:
I just told you that his father isn't originally from SA. It's just like saying a Nigerian born in SA is of SA origin, Just because his father naturalized there? Lol. The joke is on you.

his father is a white south, so yes he is an African.

ernieboy:
his father is a white south, so yes he is an African.

There's nothing like white SA. Besides Elon musk's father is a white man and not originally from SA, as it is with those so called white colour SA men. Majority of them are from Latino community, Americans etc. same way Donald Trump isn't from America.

Elon musk isn't an African.

Goo0dHardDick:
There's nothing like white SA. Besides Elon musk's father is a white man and not originally from SA, as it is with those so called white colour SA men. Majority of them are from Latino community, Americans etc. same way Donald Trump isn't from America.

Elon musk isn't an African.

if Americans or Britons claim that Nigerians who migrated to usa or uk many years ago and have given birth first and second generation black American are not really usa or uk citizens won't you be the first to shout racism.
As a matter of fact the current house leader in the UK's (kemi badenoch) parents were migrants from Nigerian, but today kemi is a citizen and has even risen to the very zenith of uk politics. Black man and backward mentality.

ernieboy:
if Americans or Britons claim that Nigerians who migrated to usa or uk many years ago and have given birth first and second generation black American are not really usa or uk citizens won't you be the first to shout racism.
As a matter of fact the current house leader in the UK's (kemi badenoch) parents were migrants from Nigerian, but today kemi is a citizen and has even risen to the very zenith of uk politics. Black man and backward mentality.

Those black Americans are all Africans. They're called African Americans! Their origin is Africa and everyone knows that.

Elon musk isn't a black man neither is he a SA. Na pure white man Elon musk be. You can say his parents were residing in SA as at the time they gave birth to him