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Here’s a good comparison I’ve found: let’s say you have a company and issue one million shares. You sell just a single one for $1. Now “technically” you own $999,999 worth of shares, even though you actually have one dollar.
His Tesla and SpaceX shares are worth a lot, but they’re not cash. If he started selling huge amounts, then the value would drop rapidly.
He doesn’t have money.
Here’s a good comparison I’ve found: let’s say you have a company and issue one million shares. You sell just a single one for $1. Now “technically” you own $999,999 worth of shares, even though you actually have one dollar.
His Tesla and SpaceX shares are worth a lot, but they’re not cash. If he started selling huge amounts, then the value would drop rapidly.