Elon Musk slams former Clinton Labor secretary Robert Reich

Elon Musk denounced Robert Reich as an ‘idiot and a liar’ on Wednesday after the former Clinton labor secretary said ‘self-made billionaires are a myth’ and the Tesla tycoon grew rich on wealth of his family for having “possessed an emerald mine.

“Self-made billionaires are a myth, just like unicorns,” Reich said in a four-and-a-half-minute video.

Reich, who teaches at the University of California, Berkeley, said “being ‘self-made’ is a good idea” because “it suggests that anyone can make their way to the top if they is willing to work hard enough.”

“That’s what the American dream is,” he said.

Reich went on to list several billionaires, including reality TV star and cosmetics mogul Kylie Jenner; Amazon founder Jeff Bezos; Microsoft co-founder Bill Gates; and musk.

He noted that Bezos, Gates and Jenner had all been helped by their families to establish what would become their billion-dollar business empires.

“The origins of self-made billionaires are often described as a ‘rags-to-riches’ ascent fueled by nothing but personal courage and the courage to take risks – like dropping out of college or starting a business in a garage. ,” Reich said.

The video then showed footage of Facebook founder Mark Zuckerberg, who left Harvard to start his social network, and Apple co-founders Steve Jobs and Steve Wozniak, who started their company in a garage.

Reich, a professor at the University of California, Berkeley, said the concept of a “self-made billionaire” is a “myth”.
Bloomberg via Getty Images

“But in reality, the origins of many billionaires are not so humble,” according to Reich, who described the aforementioned tycoons as those who went from “rich to even richer” because they were “rooted in the high – middle class education.

Reich noted in the video that Musk, the CEO of Tesla and the richest person in the world, “comes from a wealthy family that owned an emerald mine in apartheid South Africa.”

“You are both an idiot and a liar,” Musk tweeted in response to the video.

Musk then approvingly tweeted a link to a Substack blog post by Jeremy Arnold, which refutes the claim that Musk’s family was wealthy.

In 2018, Insider published an article claiming that Errol Musk, Elon’s father, owned an emerald mine in Zambia.

Last year, Musk took to Twitter to deny Insider’s claims. He wrote that he had emigrated from his native South Africa to Canada in 1989 “by myself” with just C$2,500.

Musk tweeted that he “paid for college, ending up with student debt of around 100,000” and started his first business “with no funding and just one computer I built.”

“There is no evidence of an ’emerald mine,'” Musk tweeted.

Musk left South Africa when he was 17 and moved to Canada. He then attended the University of Pennsylvania, where he earned a bachelor’s degree in physics and economics in 1995.

In 1999, his software company, Zip2, was acquired by Compaq. Musk received 7% of the proceeds, which translated to $22 million.

The following year, Musk used the money from the sale of Zip2 to co-found X.com, an online bank that eventually merged with Confinity. The newly created entity was renamed PayPal, which was acquired by eBay for $1.5 billion in 2002.

That same year, Musk founded SpaceX, the space exploration company.

In 2004, Musk joined Tesla as chairman of the board before eventually becoming CEO in 2008.

New York Post

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