Elon Musk, who completed the $44 billion acquisition of Twitter on Thursday, is the richest person in the world with a current net worth of $204 billion. So how much is Elon Musk worth and why does he so rich? Let’s find out by reading the article below.
How much is Elon Musk worth?
Musk's fortune surpasses that of Bernard Arnault, chairman of French luxury goods group LVMH and the world's second-richest man with a net worth of $140 billion, at $64 billion. The 50-year-old founder and CEO of electric car maker Tesla and rocket company SpaceX was crowned the world's richest man in January when his net worth was valued at $273.5 billion by Bloomberg, putting his fortune on the line On a par with John D Rockefeller. .
"Mr. Musk has achieved the level of wealth that the richest person in modern history has achieved, adjusted for inflation," Bloomberg said at the time. 14, April 3 acquisition of 900 million shares on April 9 for 300 million shares (ie 30,000 shares, worth about 3 shares)
He traded at a 4.20% price, which was a 38-day premium on the April 1 Twitter's public offer over the April 1 Twitter's 38, where he publicly accepted the trade at a 38-day premium. He bought Twitter for $46.5 bn, but stock market turmoil, the Russia-Ukraine crisis, and the Covid-19 pandemic took a toll on the business's net worth.
Why does he so Rich?
Musk's fortune is put at $240 billion by Bloomberg, but he doesn't always come out on top. At the start of 2020, his wealth at $25.6 billion was only one-tenth of today's, less than the likes of Amazon CEO Jeff Bezos and Facebook CEO Mark Zuckerberg.
The significant growth in Musk's fortune has been linked to his ownership in electric car maker Tesla and, to a lesser extent, his holdings in businesses such as SpaceX and the Boring Company. Still, Tesla has been his main vehicle for wealth creation, with the company's stock surging more than 1,100% over the past five years as investors rewarded the company's massive growth in car sales. Tesla's revenue jumped from $12 billion in 2017 to $54 billion in 2021.
“I built these two companies and it was very difficult to build them,” Musk told conservative satirical website Babylon Bee in December 2021, referring to Tesla and SpaceX. "There are also returns, but very difficult...I don't" don't sell the company's stock. "
He added, "My impression is that you shouldn't take money off the table - or stock off the table - and captains should get off the boat with their boat."
Musk's fortune has risen and fallen over the past few years. At his peak, Musk was worth $340 billion, according to the Bloomberg Billionaires Index. That happened in November 2021, when Tesla's stock hit an all-time high of $414.50 per share, according to FactSet. Since then, the automaker's stock has lost about a third of its value.
Hopefully, this article will help you to learn how much is Elon Musk Worth and why does he so rich. Musk made his first multimillion-dollar sale in the 1990s by selling his first company, Zip2, for more than $300 million. He then launched X com, an online payment system that eventually became PayPal, which he sold to eBay in 2002 for $1.5 billion.
