It\u2019s a watershed moment for Musk, 54, whose wealth has already made him one of the globe\u2019s most powerful and divisive individuals. And he hasn\u2019t hesitated to deploy his fortune in pursuit of his vision: Buying social-media company Twitter in 2022 to defend against \u201cthe woke mind virus,\u201d funding an AI chatbot that embraces much of his worldview and helping propel Donald Trump to a second term in the White House through donations.<\/p>\n
\nThe more than $291 million he spent on the 2024 federal election represents less than 0.03% of his current net worth \u2014 the equivalent of a $291 donation for a millionaire.<\/p>\n<\/blockquote>\n
Still, Musk\u2019s journey from billionaire to trillionaire has had its share of hiccups.<\/p>\n
His purchase of Twitter in 2022 led him to sell more than $15 billion in Tesla shares, helping sink the car company\u2019s stock for what quickly looked like an overpay. The $56 billion Tesla \u201cmoonshot\u201d compensation deal he negotiated in 2018 was struck down by a Delaware judge after some investors filed a lawsuit.<\/p>\n
DOGE\u00a0<\/strong><\/p>\nAnd his decision to join Trump\u2019s Department of Government Efficiency and support for fringe political movements turned off millions of potential customers, shrinking Tesla\u2019s car sales.<\/p>\n\n
Somehow, though, Musk skated through. Twitter, later renamed X, saw the value of its data soar from AI demand, and he eventually merged it with xAI, his own artificial intelligence startup.<\/p>\n
Tesla\u00a0relocated to Texas\u00a0from California and last year\u00a0won an appeal\u00a0allowing Musk to keep his original pay package, while also awarding him\u00a0a new deal\u00a0worth as much as $1 trillion if the company meets certain targets. And Tesla\u2019s investors have looked past declining car sales to focus on future offerings like robotaxis and Optimus robots.<\/p>\n
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\nWhile Musk\u2019s rise to trillionaire is largely due to SpaceX, the Starbase, Texas-headquartered company he founded in 2002, it was Tesla that initially powered his rise up the ranks of the world\u2019s richest.<\/p>\n<\/blockquote>\n
Shares of the Austin-based electric-car maker \u2014 where Musk remains the largest owner \u2014 have gained about 35 000% since the company went public in 2010.<\/p>\n
But SpaceX\u2019s dominance in the orbital launch market, along with the satellite broadband service Starlink it began offering in 2019, attracted growing attention from investors. Valued at about $100 billion in a 2021 investment round, that number\u00a0had jumped\u00a0to $1 trillion by February after Musk merged it with xAI and social media network X.<\/p>\n
The combined business \u2014 which now holds the record for largest ever initial public offering after raising $75 billion \u2014 makes up more than 70% of his net worth.<\/p>\n
Paper fortune\u00a0<\/strong><\/p>\n\nMusk\u2019s fortune remains largely on paper with few assets outside of holdings in his own companies, according to Bloomberg\u2019s wealth index. If he were to liquidate a stake in any of his businesses it could sink their value with his investors.<\/p>\n
Still, Tesla and SpaceX have compensation deals to pay Musk, the CEO at both firms, additional equity awards should the companies make a series of ambitious financial and operational milestones.<\/p>\n
If all the targets are hit the value of both deals combined would be\u00a0worth\u00a0roughly $1.8 trillion.<\/p>\n<\/p><\/div>\n
#Elon #Musk #Worlds #trillionaire<\/p>\n","protected":false},"excerpt":{"rendered":"
In a post on the social media platform he owns, Elon Musk recently lamented: \u201cWhoever said \u2018money can\u2019t buy happiness\u2019 really knew what they were talking about.\u201d Now the world\u2019s… <\/p>\n","protected":false},"author":1,"featured_media":7086,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[749,750,9354,1041],"class_list":["post-7085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-elon","tag-musk","tag-trillionaire","tag-worlds"],"_links":{"self":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/7085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7085"}],"version-history":[{"count":0,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/7085\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/media\/7086"}],"wp:attachment":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}