De-li-rant. Elon Musk’s fortune, almost entirely made up of shares in his companies Tesla and SpaceX, jumped 31 billion euros on Monday, October 25. An unreal sum. Transposed into one-euro coins, Musk’s capital gain weighs 234,000 tons, or 23 times the weight of the Eiffel Tower. Why this jackpot? Car rental company Hertz has just ordered 100,000 Tesla electric cars, which has boosted its share price, which at the same time exceeded 1,000 billion in market capitalization.
Musk’s $31 billion is the biggest single-day gain since Bloomberg began tallying billionaires’ gains and losses daily. His fortune seems to suffer from no limit, so that some bet on the fact that it could one day exceed 1,000 billion dollars (it is close to 288 billion for the time being). It will be recalled that the boss of Tesla does not accept any salary from his company, which allows him to largely escape the American tax system. To remedy this, the United States Congress is preparing to study a tax project on so-called “latent” capital gains, in other words, gains not yet collected like that of the boss of Tesla.
And during that time who won what?
A Smicard earned 51 euros
Far, very far from the madness of the Stock Exchange, a French employee paid at minimum wage earns 51 euros per day, if we relate his annual salary to 365 days of the year. Revalued by 2.2% on October 1 to support inflation, the minimum wage is obviously a gray mine.
A beneficiary of the RSA received 18.50 euros
The active solidarity income, which makes it possible to pay a minimum benefit to the most modest French people, seems infinitesimal compared to Elon Musk’s gain. A thousand leagues from misery, the entrepreneur blithely pulverized the record for the biggest capital gain on the stock market, held by the Chinese Zhong Shanshan, who had enriched himself by 28 billion euros in one day of the year. 2020, when his mineral water company Nongfu Spring went public.
Bernard Arnault lost 2 billion euros
Elon Musk has probably closed the contest of who will be the richest man in the world in 2021. Bernard Arnault (LVMH) is left behind. Monday, because of stock market fluctuations, the CEO of LVMH lost two billion euros. But no worries for our national Bernard Arnault who, in one year, has earned an average of 172 million euros per day.
Messi won (only) 82,000 euros
The football stars, however emblems of wealth, do not compete with these businessmen. Despite a pharaonic salary at PSG, Lionel Messi receives “only” 82,000 euros per day.
The United States produced 53.6 billion euros of wealth in one day
Unprecedented for an individual, the fortune of Elon Musk approaches in all respects that of a State, so much so that the billionaire has even embarked on the space adventure, once the privilege of the great powers. Amassed in one day, its jackpot approaches the total wealth produced in a single day in the United States: 53.6 billion euros.
The daily GDP of France is 7 billion
The profit of the Tesla boss even pulverizes the French daily GDP, which is around 7 billion euros per day. Musk therefore won in 24 hours, which France produces in almost a week. And this is out of all proportion to what the Estonians must feel, who by putting all their efforts together take a year to produce 31 billion euros.
Social Security spent 1.3 billion euros
We know that Elon Musk is not fond of taxes. It’s a shame when you imagine what its added value, if it were imposed, could finance as health care. A quick comparison with the daily expenditure of the French Social Security illustrates this.
There were 830 million euros in real estate transactions in France
Suffice to say that with its added value Elon Musk could afford the equivalent of 37 days of real estate transactions in France.
The budget deficit widened by 602 million
Not having the financial wealth of Elon Musk, the French government is trying as much as possible to contain the public deficit, which should increase this year by at least 220 billion euros this year, or 602 million per day. A trifle for the boss of Tesla who will be able to buy a new rocket with his jackpot.
READ ALSO :Louis Maurin (Observatory of Inequalities): “There are no more political projects promoting equality”