It is a loop and once you can get into it, it becomes like an organic biological system that self-regenerates, unbounded and unconstrained by exogenous factors. Yes, the richest among us will remain super-rich because what made them rich compounds faster than they can spend their money. And because of technology, they do not have to use many factors of production to do those things which generate the money, making it easier for them to keep making money.
In the old era, you needed to employ villages across territories to be super-rich, today, that is not the case (Foxconn in China which couples devices for Apple employs close to 1.5 million workers for a market cap below $50 billion. Apple uses less than 164,000 people to generate about $2.4 trillion market cap, demonstrating a huge positioning in the utilization of labour).
So, Elon, Mark, etc will keep adding the digits. Congrats to Elon Musk as the World’s Richest Person.
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Tesla and Twitter CEO Elon Musk has reclaimed the title of the world’s richest man. The Tesla billionaire started the year with a net worth of $137 billion and is now currently worth $187 billion.
According to reports, Musk reclaimed his position after the stock price of his EV automotive company Tesla, increased by a whopping 100% after 8 hours of trading. This helped Musk amass $6.98 billion, adding a significant increase to his net worth.
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