Elon Musk reveals the 5 big investments that fuel his more than $160 billion net worth

163

Elon Musk’s net worth of more than $160 billion makes the Tesla CEO the second richest person on Earth, just behind Amazon founder Jeff Bezos.

At a bitcoin-focused conference on Wednesday, Musk revealed the 5 big investments that fuel his massive wealth.

Unsurprisingly, his wealth, like most billionaires, is highly concentrated in a handful of names, and Musk is only invested in one public company.

These are the 5 big investments driving Elon Musk’s more than $160 billion net worth.

5. Dogecoin

Dogecoin and other gold coins on black background

Musk’s Stake: Unknown.

Coined “the dogefather,” Musk has been a long-time proponent of dogecoin and often tweets jokes about the meme-inspired cryptocurrency. In May, Dogecoin peaked at about $0.75 in anticipation of Musk’s hosting of Saturday Night Live. Since its peak, dogecoin is down more than 70%.

4. Ethereum

GettyImages 1228507184

Musk’s Stake: Unknown.

3. Bitcoin

Bitcoin symbol at Bitcoin conference people

Musk’s Stake: Unknown.

“The bitcoin I own is worth much more than the ethereum or doge [that I own],” Musk said at Wednesday’s conference. Musk added that both SpaceX and Tesla own bitcoin, and that he is open to Tesla accepting bitcoin as a form of payment again once bitcoin mining is more reliant on clean energy.

2. SpaceX

SpaceX Falcon Rocket Florida

Stake: Estimated at 48%, but could be lower if Musk’s stake was diluted during the last funding round.

Value: $35 billion, based on SpaceX’s last funding round valuation of $74 billion, and assuming Musks till owns 48% of the space exploration company.

1. Tesla

Tesla Shanghai China Factory

Stake: 22.4%, as of December 31. Musk can still receive billions more in Tesla stock based on his pay agreement.

Value: $141 billion, based on Tesla’s market valuation of $631 billion as of July 21.

Aside from the investments listed above, Musk added that he owns a stake in two of his early-stage private companies, Neuralink and Boring Company, but that those investments are of little significance in value relative to the others.

Source: https://markets.businessinsider.com/

Previous articleWarren Buffett’s Berkshire Hathaway sold Kirby after 35 years. The vacuum-cleaner company generated 5% of Berkshire’s profits at one point.
Next articleGIC’s annualised real return at highest since 2015; remains cautious amid uncertain environment