Elon is a Trillionaire, Capitalism is Extraordinary & Leftists Lose their Minds
Episode Stats
Harmful content
Misogyny
9
sentences flagged
Toxicity
7
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Hate speech
4
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Summary
Ted Cruz and Ben Fergusons talk about the UFC Cardi B vs Conor McGregor fight, Elon Musk becoming the first trillionaire, and why you should be jealous of Jeff Bezos. Plus, we talk about how much Jeff Bezos is really worth.
Transcript
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Why should you listen to Armstrong and Getty On Demand?
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And help you figure out this crazy modern world.
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Listen to Armstrong and Getty on demand on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
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Welcome. It is Verdict with Senator Ted Cruz, Ben Ferguson with you.
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We are recording early on Sunday because I got the best phone call this morning.
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Senator Cruz called me and said, Ben, you're my number one.
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I got you a ticket. We're going to go to the UFC, and we got to get on the road to make this happen.
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So I got to say a big shout out, Senator, for you pulling that off.
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That was amazing. I don't know how you did this.
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I don't know how you got that ticket, but you know, I feel very, you're plus one.
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It means more to me than I could have ever imagined.
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You know, Benjamin, I've just got to say day drinking is a really bad habit and you're
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And so if you're 10 AM already drunk as a skunk, um, confused, delusional, imagining
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things, I really worry how the rest of the afternoon is going to go.
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It's going to be, I'm groveling in my own knowing that you got the ticket.
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I'm just going to, you know, I just want America to know that you will be there.
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I just want everyone to understand just the pure sadness I have in my heart.
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But with that being said, we will power through in life.
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You can take some comfort in the fact that rain is predicted in D.C. later this afternoon.
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So I will be on the South Lawn of the White House for the UFC fight.
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But there's a very good chance that I and everyone else will be able to lead to wrench.
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I'm doing my violin for people not watching on video, okay?
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So apparently Ben is now doing visuals in what's primarily a radio and audio show.
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That tells you where we are right now, my mental state.
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So I will say, Ben, this intro is actually quite apropos of the lead story we're going to talk about,
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which is bitter and envy from small petty people.
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and also extraordinary freedom and success now thankfully i'm not talking about myself but i am
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talking about the historic ipo this week uh of spacex and and elon musk and and you and i both
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know elon well we have had elon as a guest on this podcast by the way if you didn't listen
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to our interview with elon musk it may be my favorite podcast that we've ever done we did
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two episodes if you want to go back in the archives and listen to any show that's the
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one I'd put at the top of the list, Elon and SpaceX this week did their IPO, and it IPO'd at
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more than $2 trillion. Massive IPO. Incredible. And the immediate result of it is it made Elon Musk
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the world's first trillionaire. Yep. Now, that is an extraordinary threshold.
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To give you a sense of just how massive it is, I saw something on Twitter that is actually accurate,
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which is today Elon Musk is worth more than the nation of Canada. Yes. And it is true that
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I'm sorry. Trudeau would be very upset about that. No, no, no. I'm sorry. That is a misstatement.
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Elon is not worth more. SpaceX is worth more than the nation of Canada. So Canada's GDP is just over
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two trillion. SpaceX's valuation is just over two trillion. But a second tweet I saw that
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that illustrates the magnitude of just how much Elon has accomplished
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Ben, today, you and I are closer in net worth to Jeff Bezos
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Like for, this is you pumping me back up, right?
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You and I, if you add our net worths together, are worth $0 billion.
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So there's $900 billion between Bezos and Elon.
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And listen, there's a reason about that, a reason we're going to talk about at greater length.
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But I think equally important is the reaction of the left.
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which is seething rage, hatred, envy, and avarice.
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but I really do think it is a testament of why America is the most extraordinary country on the face of the planet
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and why today's Marxist left is a party fundamentally built on envy and built on hate.
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Also, for a moment, I want to talk to you about our really incredible friends at the IFCJ
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working right now on the ground for all those in need.
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From America's Revolutionary War to Israel's fight for survival in 1948,
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both nations have faced moments that tested their courage,
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yet freedom endured. In October of 1985, President Ronald Reagan delivered these remarks
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about America's commitment to stand with Israel. In our talks, we paid special attention to two
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issues, our commitment to Israel's security and well-being and our shared desire to move forward
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together toward a just and lasting peace between Israel and all its Arab neighbors. A strong,
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secure Israel is a shared interest. As America celebrates its 250th anniversary, the International
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Fellowship of Christians and Jews, reflects on the friendship between the United States
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and Israel, two democracies built on faith, liberty, and hope.
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Sign up to receive a free USA-Israel flag pin when you go online to flagpinifcj.org.
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All right, so Senator, you look at this story, it breaks, and immediately you could see the
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left, they knew when the moment happened, they were going to go all in to not celebrate
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that the first trillionaire lives in the United States of America, that the first trillionaire
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employs an incredible number of Americans in this country, and also just created a whole
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lot of millionaires for the first time for people that started SpaceX.
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We're talking about people that were on the waitstaff.
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We're talking about people that were janitors at SpaceX.
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they were able to get a piece of the pie and there were some interviews that came out of
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actually talking to these people. There was a welder, for example, there was an interview with
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him and he was talking about he instantly was worth about $880,000 for what he did 10 years ago
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when he was a welder, just a welder. He's like, I didn't know what SpaceX was. I got a job.
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I started welding for them and they said, hey, you're going to get some of these options in
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the company. We're going to give you some stock and now he's a millionaire. That is an amazing
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story. There was a janitor, same thing, that was literally house cleaning of SpaceX. And they
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didn't celebrate that. No, no, no. It was an orchestrated effort. Elizabeth Warren was one
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of those. And I want to play what she said from the back of her car. By the way, she's worth
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millions and millions of dollars. And this is her excitement for all those that were brought up
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because of SpaceX and Elon Musk. Take a listen. Elon Musk is officially the world's first
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trillionaire. Think about that. We're living in a time when more and more people are just hanging
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on by their fingernails to survive in this economy. And Elon Musk has more money and more
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wealth than anyone in human history. I want to be clear, this is not just some fluke. It is a feature
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of a rigged economy. Donald Trump's big, beautiful bill cut health care for millions of Americans
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The tax code rewards CEOs for firing workers and replacing them with AI.
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Loopholes have allowed Jeff Bezos to pay an effective tax rate
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And we are left with a country where a handful of billionaires at the top
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while working people take on even more shifts to try to pay off their student loan debt.
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The top 1% of U.S. earners now have more wealth than the entire middle class.
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And it's about time that corporations paid their fair share.
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Today's marker should be a wake-up call that enough is enough.
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Forbes magazine back in 2019 estimated her fortune while serving her country was upwards of $12 million.
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Her office tried to downplay it and say it's more around $7 million.
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I just wonder, is she a part of the wealth tax now?
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Marxists want to control you and confiscate everything you own.
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she is angry that elon musk did not make her his money by using government power to confiscate the
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assets of others rather he built companies not one company not two company not even three company
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company after company after company um let's just take spacex which is the the huge driver of of of
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uh the biggest chunk of that success do you know how many millionaires became millionaires
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overnight this week because of spacex how many i saw this article it's amazing tell it more than
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4 400 4 400 millionaires and you know what elizabeth warren wants to do she wants to take
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a bunch of the money of all of those millionaires by the way and let me let me ask how many
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millionaires has elizabeth warren made and actually there's an answer to it it's not zero
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she has made millionaires and they are leftists and progressives who suckle off the teat of
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government who steal from you and and and and the the the left-wing ngos that she has shoveled
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millions and millions of the policies she supports has shoveled they get rich off of exploiting the
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system what has elon musk done i'll tell you spacex and i've been to spacex multiple times
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it's based here in texas it is the most extraordinary technology company i've ever seen
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They took Starbase, Boca Chica, which is the southern tip of Texas, six, seven years ago.
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That was an empty beach. It was sand dunes. There were some crabs, maybe a few lizards.
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There was nothing there. Elon came down and built an entire city. He built a city. He built a
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factory. The factory is producing spaceships, one spaceship a month. The precisions are down to less
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than 10th of a millimeter. It is extraordinary what they're doing. By the way, that city,
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he also built housing for all of his workers. He brought in engineers. One of the amazing things
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I met this week with a lot of civic leaders, government leaders, community leaders, business
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leaders from South Texas, the Rio Grande Valley, Elon's transformed the valley. You know, it used
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to be 20, 30 years ago, if you're a young person in the Rio Grande Valley, most young people felt
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they had to leave. They had to go to Houston or Dallas or somewhere else. There was no lack of
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opportunities there. There was really lack of opportunity there. And that's why people left.
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And then he brought opportunity, a place that had none of it. I mean, that's the real story here.
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Massive investment, billions of dollars of investment. And by the way, that billions of
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of investment. It's not just the employees of SpaceX. It's construction jobs. It's all of the
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jobs. It's the tax revenue, everything. It's the kids or the employees are going to schools.
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They're going to churches. They're contributing to charities. They're doing Little League. The
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impact on the community is massive. Now, one of the things Elon told me is he said initially when
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they were just building it, he said it was hard to get world-class engineers, many from all over
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the country to come to South Texas, which was not super well developed. One of the things he did,
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he built a little city for his employees, and he said their spouses, primarily their wives,
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didn't like being down there initially. So he built a tiki bar, and it's like a tiki bar out
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of the South Pacific, and they serve these fruity drinks with umbrellas. And he said the spouses
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like it and hang out at the tiki bar the impact of what he built was extraordinary and i'll tell
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you something interesting do you know that a decade ago i predicted this i'm gonna tee this
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up hold on hold on i gotta tee this up for you so i about a decade ago you were at one of those uh
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atlantic events where you sit on stage someone interviews you i want to be clear just to put a
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timestamp on how long a decade ago Ted Cruz did not have a beard then and his hair was just straight
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black I didn't see any gray in it and you even had an old school tie with the with the cross
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the cross stripes on it that is how old this this how long ago a decade is ago I just there was no
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Ben you're yet again showing the envy I'm wondering if you're like a closet Elizabeth
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warren you know but go ahead go ahead don't let me get it so so so i will play for you a decade
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old no beard facial hair pure dark hair no gray in it ted cruz saying this an event this is in hd
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or in sd i should say standard definition television that's how long ago it was
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take a listen to this i'll make a prediction right now the first trillionaire will be made in space
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will be the entrepreneur who invests and makes discoveries in space
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The prediction I'm making, the first trillionaire,
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and that is a wonderful incentive for a whole bunch of folks to invest
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and help us develop this new and great frontier.
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I mean, a decade ago, that's a pretty strong, bold prediction.
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it became true. I'm just mad you didn't tell me that prediction back then because I would have
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put a lot of money into SpaceX. I would have found a way to invest, Senator, but I, you know,
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I guess insider trading is only for the left. I will say something. A decade ago,
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Elon Musk was not a household name. He was already having significant success,
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but I actually first met Elon 14 years ago. So it was when I was newly elected to the Senate
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And baby senators, they stick you in a basement office.
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For the first four or five months, you're in a tiny little office in the basement before you move into a real Senate office.
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And when I was there, Elon came to meet me, and he just started SpaceX.
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And at the time, SpaceX was not allowed to bid and compete to launch Air Force rockets and Air Force satellites.
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And so Boeing and Lockheed had it completely locked down.
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They were the only two contractors, and they launched all of the government satellites.
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He wasn't saying, hey, I want to get these contracts.
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I think I can produce a better product at a lower price.
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I can launch the Air Force's satellites cheaper than they're paying right now, and I can do it more reliably.
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And I actually spoke out in favor of it, not because I wanted them to get the contract, but because I believe in competition.
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And that's been my approach to space and everything else.
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And the innovation, like when I was saying the first trillionaire would be made in space, I wasn't necessarily thinking Elon Musk.
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Actually, the comment I made, which is the incentive to become a trillionaire is going to cause people to invest a lot and innovate. That's exactly what happened over the last decade. You've had multiple, the two biggest have been Musk and Bezos, but you've also got Robert Bigelow. You've got others who've invested and innovated in space because, look, the upsides, if you look at SpaceX, you've got a couple of drivers of it.
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One is Starlink, and more than 90% of the satellites that are in orbit right now, SpaceX put up there.
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I mean, that's a staggering statistic, and Starlink is now giving internet connectivity all over the world.
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And like the most remote wilderness in Africa, you can get Starlink.
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That's an innovation that has improved the lives of millions.
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Listen, at the time I said that, the concept of a reusable rocket, no one had really thought of that.
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At the time, everyone accepted you fire a rocket to the air.
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you launch your payload the rocket falls into the ocean and and and you dispose of the rocket and
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and elon said well why do we need to do that how about if we have the rocket come back and land
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and everyone laughed at him and said okay that's crazy it doesn't work that way and he said well
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what if we have giant arms chopsticks that grab the rocket out of the air pull it down and set it
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on the landing pad and people said okay you're nuts you don't know what you're talking about
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and so he just went out and did it and he's done that over and over and over again that's how you
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build a two trillion dollar company uh and and you you know what bernie sanders says
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he says today elon musk a trillionaire pays the same amount into social security as someone making
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184 500 if we end that absurdity and lift the cap on taxable income we can make social security
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solvent for 75 years so what does he want to do he wants to jack up taxes yeah his reaction is
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anger anger um bernie sanders also uh if if you look at what he tweeted here here's what he
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tweeted another 900 billion dollar paycheck i can't do his accent sorry uh for elon musk
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while 60 percent live paycheck to paycheck really this is not only grossly immoral it is insane
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economics. No society can survive when one man becomes a trillionaire while the working class
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struggles to survive. This cannot stand. I want you to hear those words again because they are
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ominous and you should hear them. This cannot stand. Bernie Sanders is saying that he intends
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to destroy Elon Musk, when he says, I will not allow you to be a trillionaire.
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And by the way, if you think communist is too strong for Bernie Sanders,
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Ben, do you know where Bernie Sanders honeymooned?
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Because that's what everybody has on their honeymoon list
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when you're sitting there looking at your future bride
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and you're going, honey, where do you want to go?
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Look, on our honeymoon, we wanted to walk around barefoot
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It was the USSR was the country that he honeymooned in.
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I don't even think Soviets honeymooned in the Soviet Union.
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Even if they can't take it, they just want to burn it down.
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00:22:14.400
Tesla should be the icon or a god of the green religion.
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Like if the Green New Deal, the Green Religion, if you said, who is your idol?
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Look, for more than a decade, they've been saying that that first global warming, now
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climate change is going to destroy all humanity.
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By the way, that's been their mantra for 50 years is we're going to die in 12 years.
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So this year, they'll tell you we're going to die in 12 years.
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Next year, they're going to tell you we're going to die in 12 years.
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In 12 years, they'll tell you we're going to die in 12 years.
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but under their basis, what they were saying is we need to all move to electric vehicles. Now,
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Elon didn't say, like a good comrade, I will just mandate you must all buy electric cars. I don't
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know where you can find them. He said, no, I'm going to go build a business and make a whole
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bunch of electric cars. And here's an idea. I'm going to make electric cars that are really damn
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cool that people actually want to buy. Listen, Tesla's are cool vehicles. Like drive for you
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kind of cars. Yes. Innovation, not green alternative energy obsession. Look, the self-driving, the
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technology, the clean, elegant lines. You know, I just just watched the new movie about Steve Jobs
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and you look at sort of brilliant revolutionary entrepreneurs and Jobs was was one. And you look
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at Apple, his appreciation for the aesthetics and simplicity. And Elon has very much the same
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appreciation for, you know, you look at a Tesla where they've removed almost everything unnecessary
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from the interior, and the interior is very sleek. You look at SpaceX, their dragon capsule that goes
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to space. The inside almost looks like a Tesla. It's very simple. It's very clean. It's not
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old, hard, industrial. There's an elegance to it. But if you believed, if Bernie Sanders or AOC or
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any one of the other Marxist left believed what they had been saying for years. These are the
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authors of the Green New Deal. They should be carving Elon Musk into Mount Rushmore because
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there is no human being on planet Earth in the history of mankind. By the way, that's the liberals
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are all they're going to hear from this show. I want to be very clear 20 minutes in is you said
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that Elon Musk should be carved into Mount Rushmore. That will be the headline. I just want
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to predict that right now, but keep going. It may well be. Although what I said is if the leftists
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believed what they said they should carve a they should be doing it because there is literally no
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human being who has existed in the history of humanity who has done more for electric vehicles
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than elon musk but you know what they hate him now you know how he could change that
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do you know whose wealth they're not calling to confiscate george soros oh of course not
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no no if you're a leftist if you pay he's a massive billionaire by the way he made his money
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on arbitraging currency, on essentially betting and bankrupting lots of people.
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He made his money in a very, very cynical way, shorting the British pound and causing
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enormous devastation. That's quite different from how Elon made his money building companies
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that employ thousands of thousands of people, innovating and transforming the world.
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But you know what? The left loves George Soros because he funds their Marxist ideology.
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Plattner's biggest donors are four different multi-billionaires.
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And they'll sit up there saying the oligarchs, no oligarchs is on their sign.
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And those signs are literally being paid for by billionaires.
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And by the way, Bernie Sanders and AOC's no oligarch tour, they flew in private jets from stop to stop to stop.
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So you get off your private jet and say, oligarchs are terrible.
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And I don't know if you saw, it was very funny,
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well, Bernie, how did you become a millionaire?
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And he said, oh, by writing anti-capitalist books.
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Yeah, so capitalism caused him to become a millionaire,
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Look, there's a principle here that I think is really important
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The beauty of free enterprise is the way you succeed
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is by making others succeed let's take tesla as an example if elon made crappy cars they didn't work
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they were ugly if they were slow they broke down a lot uh nobody would buy them and you know what
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if nobody buys his cars he doesn't make any money he goes broke like like free enterprises is is
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ruthlessly efficient if you can't solve a problem and improve people's lives not only do you not
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make money, you go out of business. How do you make a ton of money? You make a product people
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like that is better than the alternatives on the market that people are willing to pay for and
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they're happy for. If you look at whether it is SpaceX, whether it is XAI, whether it is Starlink,
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whether it is Tesla, whether it is the boring company, and the boring company is just getting
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started, but the ability to build tunnels, I think that's another one that he's filling a need that
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doesn't exist in the market. And I think for those who, in terms of connecting, say, a busy
00:27:30.020
downtown where there's a ton of traffic, the ability to tunnel down and suddenly double your
00:27:35.500
usable space, that is a transformational technology. Now, Ben, do you remember why he
00:27:40.440
created the Boring Company? Why was that? Because Elon has a unifying theme with all of his
00:27:48.060
companies. And it is going to Mars. He's filling a need that doesn't exist in the market. And I
00:27:56.940
think for those who, in terms of connecting, say, a busy downtown where there's a ton of traffic,
00:28:03.080
the ability to tunnel down and suddenly double your usable space, that is a transformational
00:28:09.320
technology. Now, Ben, do you remember why he created the Boring Company? Why was that?
00:28:14.460
because Elon has a unifying theme with all of his companies and it is going to Mars
00:28:22.940
and he is focused when we interviewed him we talked about this him saying getting a person
00:28:30.060
to Mars was like a life dream goal of his look not just getting a person to Mars building a
00:28:36.620
civilization on Mars because unlike the Marxist who have all of these uh apocalyptic language
00:28:43.200
about how climate change is going to destroy us.
00:29:12.580
that we could build a civilization. Tesla electric vehicles are designed to power
00:29:16.960
transport on Mars. The Boring Company is designed because to build a civilization,
00:29:22.600
to build a city on Mars, you need to dig tunnels. And so he, there wasn't, nobody was doing that.
00:29:27.660
And so he built a whole company to do that. XAI, the AI will be needed to build the Mars
00:29:33.080
civilization. We asked him in the interview, said, what do you want to be remembered for?
00:29:38.260
And he said, and he said, getting mankind to Mars.
00:29:41.260
And I asked him, I said, I said, do you want to die on Mars?
00:29:49.300
And there was a long pause, by the way, which was really funny.
00:29:53.660
There was, he wanted to distinguish that very clearly, if I remember right.
00:29:56.340
Well, what he said, he, what he said is yes, hopefully not on impact.
00:30:03.720
And that, look, that's how you innovate with capitalism. You create a solution. And what is the reaction of the left? It is envy. And we've heard Bernie Sanders, we've heard Elizabeth Warren. I want you to listen to Jimmy Kimmel to really embody the leftist envy and contempt. Give a listen.
00:30:24.520
first ever trillionaire in the history of the world. This man, our first trillionaire,
00:30:29.140
the richest man in the world, is also one of the weirdest people we've ever seen on this planet.
0.90
00:30:33.740
This obscenely wealthy weirdo has the ability and means to blow up the moon if he chooses,
00:30:38.620
and also to put a lot of other people's money in his pockets.
0.71
00:30:41.840
You listen to that, just the disdain there. It is a coordinated effort, which goes back to my
00:30:48.500
final question, Senator, and I'll make a prediction here. I believe that the Democratic
00:30:53.460
Party, if they gain power again in the House, Senate, certainly the White House, they will
00:30:59.560
go after Elon Musk and every one of his companies and every one of his government contracts
00:31:05.100
because of what he did with Doge and the fact that he was an ally of President Trump, even
00:31:10.000
though they've had their own little fights, they will move to destroy him and make sure
00:31:16.540
that there's no part of our U.S. government that uses anything that he touches.
00:31:20.280
You are absolutely right. And understand, these are not the Marxists of the sit-in-a-faculty-lounge-and-muse abstract theories. These are the Marxists of the Stalinist kind, of the kind that go and crush their enemies.
00:31:34.520
If the left takes over, if AOC or Gavin Newsom or some other leftist becomes president, you will see every single federal government agency weaponized and targeting Elon Musk.
00:31:48.660
You will see them denying him licenses to launch satellites, denying him canceling his contracts, the EPA shutting down his launches, Tesla being investigated by OSHA, by the IRS.
00:32:00.580
Elon personally, they will make it their mission. This cannot stand is what Bernie said. They want
00:32:08.320
to destroy him for daring to demonstrate that free enterprise works. And I want you to think
00:32:15.640
back again to what Jimmy Kimmel said, which is he makes obscene amounts of money by getting other
00:32:23.700
people's money. And let me just ask a very simple question, Jimmy. How? How does he get other
00:32:30.740
people's money? And he does it one of two ways. One, he does it by running a business that's very
00:32:35.620
profitable. So he builds a car people really like, and they decide, I like this car better than all
00:32:41.540
the other cars, and it's really good, and it's fast, and it's super environmentally clean,
00:32:46.320
and it looks cool, and it's self-driving, so I want to buy it. So he produces a product people
00:32:53.360
really like and want, which, by the way, is also much, much better for the environment which you
0.97
00:32:58.660
hypocrites claim to care about. But there's a second way. How did he make so much money this
0.97
00:33:03.260
week? Well, he sold 550 million shares of stock. And you know what unified every single person
00:33:10.380
who bought that stock? They all wanted to make money. They did so voluntarily. Nobody forced
00:33:16.540
them. 550 million decisions of people who said, I would like to purchase at least a share of
00:33:24.560
SpaceX. I want to buy that. And by the way, it's not just gazillionaires. It's lots of moms and
00:33:32.060
pops, lots of ordinary people. And you know what? You and I, we probably don't know this, but you
00:33:37.920
and I are both probably, and most of our listeners are probably SpaceX stockholders too, because
00:33:43.200
many of the purchasers were pension funds 401k so if you're in a widely diversified mutual fund
00:33:50.120
which most of my retirement savings are in mutual funds yeah many of them bought spacex as part of
00:33:55.800
their portfolio so so the people who purchased he is literally making americans rich all across the
00:34:03.320
country and if you're really good at that you make a bunch of money too leftists hate that they want
00:34:09.580
to destroy you. And they also want to take the money. They want government in charge of it. And
00:34:13.840
they want the only way you can make money is for government to give you a check every month.
00:34:17.400
So you got to go vote to reelect the Marxists and keep them in power. I want to say to Elon Musk,
00:34:22.720
Gwen Shotwell, to everyone at SpaceX, congratulations. This was an historic week.
00:34:29.120
God bless capitalism. God bless liberty. No doubt about it. Don't forget, we do a show
00:34:35.580
Monday, Wednesday, Friday. Go back and download
00:34:39.440
It's two parts, so you grab both. You're going to like
00:34:43.520
and easily it'll come up there. And The Center and I
00:34:59.500
Joe Getty. We're Armstrong and Getty. We try to
00:35:01.440
bring you the truth. And help you figure out this crazy
00:35:05.480
comedic tone we have a winner yes listen to armstrong and getty on demand on the
00:35:13.660
iheart radio app apple podcasts or wherever you get your podcasts