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Nadav, good discussion. It is a significant problem that very few understand finances, accounting, the tax code, etc. Elon Musk was not born rich, he created wealth through opportunities available to everyone in the US (and he is an immigrant, no less). Tesla employs over 70,000 people and is doing incredible things. I'm happy for Musk that he has made so much money (although I do believe speculators have pushed up Tesla share prices way too high, giving him more wealth on paper than his company fundamentals can justify).

Around 70% of the Fortune 400 are mostly sel-made (https://www.forbes.com/sites/rachelsandler/2021/10/05/the-forbes-400-self-made-score-2021-from-silver-spooners-to-bootstrappers/?sh=6821d45330c2), but too many people think you can only be rich if you are born rich. That's just not true. Everyone can improve their financial standing by studying investing and the tax code, but few do. Our system is far from perfect, and there is always room for improvement, but ask yourself why Elon Musk immigrated to the US to do great things instead of staying in South Africa or going to Europe. Incentives matter.

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Building Arks with Jason Clendenen
Building Arks with Jason Clendenen

Written by Building Arks with Jason Clendenen

Self-taught investor helping busy professionals learn how to ignore mainstream advice and build real wealth. https://buildingarks.gumroad.com

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