Tesla CEO Elon Musk's exorbitant wealth, explained in 2 simple charts - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 73 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 51%

Ireland News News

Elon Musk's net worth quintupled in 2020 during the pandemic. We broke his complicated $160 billion wealth down into two simple charts.

Musk — who was already a multi-billionaire going into 2020 — has seen his net worth more than quintuple over the course of the year. The Tesla CEO's net worth grew by $129 billion, as of Monday — an increase of 469.9%, according toBusiness Insider charted Musk's net worth on the 1st and the 15th of every month, through December 1.

Tesla's stock price, the biggest source of 2020 gains for Musk, soared to new heights this year. Already the world's most valuable automaker, Tesla was worth nearly $645 billion with only one trading day left in the year. That's a 689% increase since January 1, and a massive tailwind for Musk, who, with an 18% stake, is easily its largest shareholder.

But his small salary, at least on paper, left Musk, in his own words, "cash poor." Like plenty of other well-to-do C-suiters, he still relies on mortgages and credit for daily life. "Some people think I have a lot of cash," Musk told a major investor, Cathie Wood, on a podcast last year. "I actually don't.

Tesla did not respond to a request for comment about Musk's compensation. Regulatory filings show shareholders overwhelmingly approved the performance awards in 2018, and, as of August, Musk had unlocked two of the total tranches Much of that equity in Tesla — and his stake in SpaceX, a private company — is also pledged as collateral for mortgages and other loans. That leaves his final stakes in the respective companies valued at slightly less than their face value. This discounting is used by Forbes' famous wealth estimates as well as Bloomberg's billionaires index.with about $110 billion, or roughly 70% of that sum, from Tesla stock and options, with another $18.7 billion from equity in SpaceX.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

People wanted to leave 2020 behind and live on Mars?

thank you very much for your work

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines