Elon Musk has become the first person to reach a net worth of $500bn, bringing the Tesla chief executive halfway to trillionaire status.
Musk’s wealth temporarily crossed the half-trillion mark on Wednesday before retreating to $499bn, according to the Forbes billionaires list.
Musk owns 12% of Tesla, which is worth more than $1.5tn, and his wealth has been boosted this year by surge in the electric carmaker’s share price.
He’s not. This article is bullshit by a poor person. Elon, unlike someone like Bill Gates, still has most of his “worth” in TSLA. TSLA is held up purely by hype and the sunken cost fallacy. The hype is gone and now investor with brains are liquidating but Elon can’t, he’d crash the stock selling more than a couple billion. So we get to watch the market desperately try to keep TSLA( that people put pension money in) afloat as the market burns around them and Elon’s imaginary money dwindles. In reality he has something like 10B liquid and probably something similar in assets that aren’t a dead car company.
Thank you! Someone around here gets it. Look at these comments. People seem to think he’s actually holding that much cash.
People are only buying Tesla stock because it keeps going up, nothing to do with their perceived value of future earnings. It’s fucking insane, reminds me of Wall Street, 1929. Fittingly enough, the world is making the same mistakes of 100 years ago because all the people who learned from those mistakes are dead.