9.6 C
New York
Monday, October 18, 2021

This is how Tesla boss Elon Musk invested his money

Elon Musk has an estimated net worth of approximately $ 152 billion. His money is in various companies, but only one of them is listed.

• Investments in own companies predominate
• Tesla stake makes up around 90 percent of his assets
• He pays for his vehicles himself

“I don’t invest in anything – except in a single share” . With this statement, the billionaire manager Elon Musk surprised the markets in the spring of 2018. It is one of the biggest misunderstandings that he is an investor because there is only one publicly traded company in which he holds shares: Tesla . And nothing has changed to this day.

Tesla stake worth billions

In fact, Elon Musk is by far the largest shareholder in the electric car manufacturer: 21 percent of the company, which he also heads as CEO and since 2021 as “Technoking” , is in the hands of the 49-year-old. The boss managed the company’s fortunes early on, even if he was not one of the Tesla founders. Just one year after it was founded by Martin Eberhard and Marc Tarpenning, Musk joined the company as an investor and shortly afterwards took over the chairmanship of the supervisory board, which he had to give up in 2018 as a result of a dispute with the US Securities and Exchange Commission about his Twitter practices.
The stake in Tesla accounts for around 90 percent of Elon Musk’s total fortune, which is estimated at over $ 152.2 billion. Incidentally, Musk does not receive a salary for his senior position at Tesla, nor does he receive any bonuses for his work: Instead, he has agreed targets with the company for sales and operating profit, for which he will be paid with Tesla shares once they have been achieved. If he does not achieve the very ambitious goals – after all, a tenfold increase in the current market capitalisation is targeted for the stock market value – the Tesla boss goes away empty-handed .

Also worth mentioning in this context is Elon Musk’s 22 percent stake in SolarCity, the solar group that was fully acquired by Tesla in 2016. The company is now run as Tesla’s energy division.

SpaceX shares also in double digits

Even if Tesla is the only listed company in which Elon Musk claims to hold shares, he is still involved in other multibillion-dollar corporations. In May 2002, Musk invested 100 million US dollars from his private fortune in founding SpaceX – here, too, he holds the chief position. The space company is worth an estimated 74 billion US dollars. Musk himself holds 54 percent of the company via a trust and has 78 percent of the voting rights.
SpaceX is unlisted and if Musk goes it will not change in the foreseeable future. In his opinion, the time for an IPO would not have come until the space company could offer regular shuttles to Mars. Such a step could cause enthusiasm on the market – even if it is still in the future: “There are many more people who want to buy our shares than we are ready to sell,” said SpaceX COO Gwynne Shotwell .

Boring Company – The next star in Musk heaven?

The third major project Elon Musk is investing in is the Boring Company tunneling company. Founded on a whim – Musk was annoyed by the evening rush hour and decided to let cars go underground in the future – the company has already established itself in its field of business. Goodwill is estimated at $ 920 million, and in 2018 and 2019 the company raised $ 233 million from private investors and from Musk itself. One of the investors is already well acquainted with Musk firms: Venture capitalist Steve Jurvetson already has a seat on the boards of Tesla and SpaceX.

Neuralink – is an IPO coming up?

With Neuralink, a neuro technology company founded in 2016, Elon Musk has a company under his management that raised a total of 158 million US dollars in two financing rounds, 100 million of which came directly from Elon Musk. Overall, the company valuation according to PitchBook is over $ 500 million. Here, too, Elon Musk is not only an investor, but also the largest shareholder.

Also Read:

Real estate and vehicles

In the meantime, Elon Musk has recently liquidated his numerous real estate investments, the value of which, according to media reports, once totaled 100 million US dollars. The last remaining mansion is currently for sale for $ 37 million. Musk himself wants to live on rent from now on. Musk plans to use the money he made from the property sales to invest in his space travel activities, particularly in his ambitious plan to colonize Mars.
Even if Musk claims to want to part with most of his earthly possessions, he still owns vehicles. Unsurprisingly, he is focusing on electric cars from Tesla. When asked on Twitter which vehicles he drives privately, Musk replied that he drives his Model S P100D most often. His second car is the mass market Model 3, while his Model X is used when he is out and about with his children.

I mostly drive Model S Performance with dev version of FSD computer. Our new Raven powertain & adaptive damping suspension is great! Next is Model 3P & then X if driving with my kids. Acceleration is fun on tap!

– Elon Musk (@elonmusk) July 18, 2019

Musk also bought a Tesla Roadster, who, according to his own account, pays for his Tesla vehicles like every customer. However, he does not name the vehicle in his Twitter post – possibly because he had it shot into space in a SpaceX rocket three years ago .

 

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.