But he mostly owns California real estate — millions of dollars worth, an illiquid asset that's hard to sell.shares, after a massive run-up, are worth close to $40 billion, but he almost never sells stock. He lives off loans from major banks, using his Tesla stake as collateral.
So Musk lives off credit: around $550 million is his current burden, owed to a trio of banks, and backed by his Tesla shares. Even if Musk is trying to deleverage his personal balance sheet a bit, he's not exactly marketing liquid assets; multimillion-dollar mansions in California can take years to sell, if they sell at all.What Musk embodies is actually a walking, talking wealth paradox: so rich on paper, but kinda not rich in reality.
Skeptical? Fine. But space exploration had previously required the resources of large nations, while the received wisdom in the auto industry, pre-Tesla, was that starting a new car company was impossible. Musk couldn't have picked two better ways to lose all his money. He has some cool clothes, but that's hardly an extravagant outlay. He drives Tesla vehicles. He sent his personal original Roadster into orbit, so goodbye to that museum piece! He tweets a lot, so he probably owns the latest iPhone. I think he plays video games, so ... an Xbox and a flat-screen or two? And he travels quite a bit, using a business jet, but so do mere millionaires.
Maybe it's not about money itself but the appreciation that the money implies. He does care a lot about his public image.
He doesn't care about his workers either. How else could you explain the pay gap between him (50 billion fuckin dollars over the next years) and a Tesla employee? He could have demanded from Tesla to pay their employees more in return for himself reducing his pay.
techinsider yep just like Tom Bernard rails on people will do anything for money. so many people are focused on money while yeah when you have tons and tons of money you don't care about money.
Strange gay
Why is he living off of loans? Probably the 'interest?' He wouldn't do this if he didn't care about money. Is this 'colleterial' his? Or his investors? There has to be some kind of investment going on here.
And I don’t care about Elon
Pretty easy to not care about money if you have essentially an unlimited amount of it.
Right
Whether he does or doesn’t, he certainly cares about freedom and liberties. So, I’m all for Elon Musk.
must be nice
Make me a billionaire and I won't care about money either.
He is crony capitalism for the left.
Take away his assets: I’m sure he’ll suddenly form an opinion
or the environment!
I bet this guy comes from the space
uh huh sure
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