Home News The fixation on Elon Musk’s billionaire-ness overlooks the fact that he doesn’t...

The fixation on Elon Musk’s billionaire-ness overlooks the fact that he doesn’t care about money (TSLA)


Elon MuskHannibal Hanschke/Reuters

Elon Musk has stated he’s ridding himself of possessions.
But he owns California real estate — millions of dollars’ worth, an illiquid asset that is difficult to sell.
His Tesla shares, after a enormous run-up, are worth close to $40 billion, but that he never sells inventory. He resides off loans from banks, using his Tesla bet as collateral.
Musk appears to be selling a few of the multimillion-dollar homes, but his latest moves aren’t all that bizarre; he’s never cared about money, watching it as a means to an end.
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Tesla along with SpaceX CEO Elon Musk is accused of fond of cash that was just, but the truth is that cash is meaningless to him.

That’s because he’s a multibillionaire, to a degree. As Tim Higgins pointed out at The Wall Street Journal, Musk’s 20% stake Tesla leaves him worth about $40 billion — but he can’t sell some of those shares without devoting any control within the company or provoking a sell-off that may damage investors. See the rest of the story at Business Insider

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