71Trust
Likely Accurate
🔍 Web Verified
Cory DoctorowonMastodon4d ago
Here's a fun fact about Elon Musk: in 2020, his (nominal) net worth was $20b, and today it's $1t (nominally). But *that's* not the fun fact; *this* is: everything he's done since 2020 was a flop.
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If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
https://pluralistic.net/2026/06/17/its-the-stupid-economy-stupid/#trillionairitis
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Trust Metrics
80
55
70
65
Accuracy80%
Framing55%
Context70%
Tone65%
Analysis Summary
Doctorow's core claim — that everything Musk has done since 2020 was a flop — directly contradicts the wealth growth he just described. Tesla and SpaceX have been his major value drivers over this period, with SpaceX's recent IPO pushing him past $1 trillion, which is the opposite of failure. The framing treats business success as irrelevant because Musk is wealthy, but it inverts the causal relationship: he's wealthy *because* his companies succeeded, not despite them flopping. The post's rhetorical hook depends on the reader not connecting the two claims together.
Claims Analysis (3)
“In 2020, Elon Musk's nominal net worth was $20b”
This is historically accurate. Musk's net worth in late 2020 was approximately $20B before the 2021 Tesla rally.
“Today his net worth is $1 trillion nominally”
Multiple credible sources confirm Musk surpassed $1 trillion net worth in June 2026 following SpaceX IPO.
“Everything he's done since 2020 was a flop”
This is the core rhetorical claim and it's factually wrong. Since 2020, Musk's companies (Tesla, SpaceX) have achieved major successes: Tesla maintained market dominance, SpaceX completed numerous Starship tests and just completed a major IPO that boosted his wealth. The wealth increase itself disproves the claim.
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