Tech

Elon Musk blasts ‘idiot and liar’ ex-Clinton labor secretary Robert Reich

Elon Musk hit out at Robert Reich as an “fool and a liar” on Wednesday after the previous Clinton labor secretary mentioned that “self-made billionaires are a fantasy” and that the Tesla mogul received wealthy due to his household’s wealth from having “owned an emerald mine.”

“Self-made billionaires are a fantasy — similar to unicorns,” declared Reich in a four-and-a-half minute video.

Reich, who teaches on the College of California, Berkeley, mentioned that “being ‘self-made’ is a pleasant thought” since “it means that anyone can claw their strategy to the highest in the event that they’re prepared to work onerous sufficient.”

“It’s what the American dream is all about,” he mentioned.

Reich then listed a number of billionaires together with actuality tv star and cosmetics magnate Kylie Jenner; Amazon founder Jeff Bezos; Microsoft co-founder Invoice Gates; and Musk.

He famous that Bezos, Gates, and Jenner have been all helped by their households in establishing what would ultimately change into their billion-dollar enterprise empires.

“The origins of self-made billionaires are sometimes depicted as a ‘rags-to-riches’ rise to the highest fueled by nothing however private grit and the braveness to take dangers — like dropping out of faculty or beginning a enterprise in a storage,” Reich mentioned.

The video then depicted photographs of Fb founder Mark Zuckerberg, who left Harvard to construct his social community, and Apple co-founders Steve Jobs and Steve Wozniak, who began their firm in a storage.

Reich, a professor on the College of California, Berkeley, mentioned that the “self-made billionaire” idea is a “fantasy.”
Bloomberg through Getty Pictures

“However in actuality, the origins of many billionaires aren’t so humble,” in response to Reich, who described the aforementioned moguls as those that went from “riches-to-even-more-riches” as a result of they have been “rooted in upper-middle class upbringings.”

Reich famous within the video that Musk, the Tesla CEO and world’s wealthiest particular person, “got here from a rich household that owned an emerald mine in apartheid South Africa.”

“You each an fool and a liar,” Musk tweeted in response to the video.

Musk then approvingly tweeted a hyperlink to a Substack blog post by Jeremy Arnold, who debunks the declare that Musk’s household was rich.

In 2018, Insider ran a narrative claiming that Errol Musk, Elon’s father, owned an emerald mine in Zambia.

Final 12 months, Musk took to Twitter to disclaim Insider’s claims. He wrote that he emigrated from his native South Africa to Canada in 1989 “on my own” with simply $2,500 Canadian {dollars}.

Musk tweeted that he “paid my very own method by faculty, ending with ~100k scholar debt” and that he began his first firm “with no funding & only one pc I constructed.”

“There’s no proof in any way of an ’emerald mine’,” Musk tweeted.

Musk left South Africa on the age of 17 and relocated to Canada. He then attended the College of Pennsylvania, the place he obtained a bachelor in physics and economics in 1995.

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

The subsequent 12 months, Musk used cash from the sale of Zip2 to co-found X.com, a web-based financial institution that ultimately merged with Confinity. The newly created entity was renamed PayPal, which was purchased by eBay for $1.5 billion in 2002.

That very same 12 months, Musk based SpaceX, the area exploration firm.

In 2004, Musk joined Tesla as chairman of the board earlier than ultimately changing into CEO in 2008.

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