Elon is just $3 billion away from being the richest man in the world.https://www.celebritynetworth.com/articles/billionaire-news/elon-musk-is-just-3-billion-away-from-being-the-richest-person-in-the-world-could-surpass-jeff-bezos-any-moment/
Also, I think he only has about 30% of Tesla stock. He is the largest shareholder, thus the CEO.
Elon Musk is not the sole owner of SpaceX. AFAIK he has >50% of the voting stock, but there probably is also lots of non-voting stock owned by other people.
Currently now the richest person in the worldhttps://twitter.com/robtfrank/status/1347193416048902144
Forbes disagrees..Jeff Bezos: 186.1Bhttps://www.forbes.com/profile/jeff-bezos/?list=rtb/Elon Musk:$173.6Bhttps://www.forbes.com/real-time-billionaires/#703a1aea3d78And the Forbes list is kept more up to date with the Bloomberg list only updating daily.
Isn't most of that in stock? Ie not in available liquid cash? So what's the relevance? He's hardly about to sell off all of his shares.
Quote from: Welsh Dragon on 01/07/2021 03:56 pmIsn't most of that in stock? Ie not in available liquid cash? So what's the relevance? He's hardly about to sell off all of his shares.No one should have a lot of liquid cash on hand. Even middle class people generally have their money in assets of variable liquidity. Elon doesn't need to liquidate his shares to buy a yacht, though he could do that on a small scale occasionally if he wanted to. It's more like various investment funds, banks, and governments would be happy to provide him with a billions in capital if he wanted to start a new company knowing he has assets to underwrite the venture even if it fails. It's also a reflection of the success of his companies. Elon is the richest man in the world for now. The employees who were with him when he founded SpaceX and Tesla have a shot at being billionaires. Many employees are now millionaires, which in turn means he can keep direct compensation low and still recruit the absolute best talent in the world.
Quote from: ShaunML09 on 01/07/2021 02:24 pmCurrently now the richest person in the worldhttps://twitter.com/robtfrank/status/1347193416048902144Forbes disagrees..Jeff Bezos: 186.1Bhttps://www.forbes.com/profile/jeff-bezos/?list=rtb/Elon Musk:$173.6Bhttps://www.forbes.com/profile/elon-musk/?list=rtb/&sh=31abceeb7999And the Forbes list is kept more up to date with the Bloomberg list only updating daily.
Jeez dude. Relax. Does Elon’s successes bother you that much? And to correct your theory, it’s got nothing to do with the estimates updating daily vs hourly or whatever.Forbes and Bloomberg have had a roughly $15B difference in Musk’s wealth estimate for most of 2020. It is a case of using slightly different methodologies for the calculation. I suspect Forbes either discounts his non-publicly traded shares - i.e SpaceX - by a greater percentage, due to the perceived liquidity risk associated with selling private shares, or they apply a greater safety margin for shares used as security for his loans.Either way, both Bloomberg and Forbes still use the last official $46B valuation for SpaceX, which we know is significantly out of date. In fact, SpaceX was suggested to be worth closer to $100B today, but it is a valuation that will only be officially recognized once they do a capital raise at that value. So the reality is that Elon is actually significantly richer than even Bloomberg’s current estimate.
Quote from: M.E.T. on 01/07/2021 10:38 pmJeez dude. Relax. Does Elon’s successes bother you that much? And to correct your theory, it’s got nothing to do with the estimates updating daily vs hourly or whatever.Forbes and Bloomberg have had a roughly $15B difference in Musk’s wealth estimate for most of 2020. It is a case of using slightly different methodologies for the calculation. I suspect Forbes either discounts his non-publicly traded shares - i.e SpaceX - by a greater percentage, due to the perceived liquidity risk associated with selling private shares, or they apply a greater safety margin for shares used as security for his loans.Either way, both Bloomberg and Forbes still use the last official $46B valuation for SpaceX, which we know is significantly out of date. In fact, SpaceX was suggested to be worth closer to $100B today, but it is a valuation that will only be officially recognized once they do a capital raise at that value. So the reality is that Elon is actually significantly richer than even Bloomberg’s current estimate.Forbes explicitly states that they discount the shares that are pledged as collateral against loans.
Add in the fact that Tesla is on a tear right now, and within a year, it's not impossible that Elon would be the richest man in the world.
Quote from: novo2044 on 01/07/2021 05:13 pmQuote from: Welsh Dragon on 01/07/2021 03:56 pmIsn't most of that in stock? Ie not in available liquid cash? So what's the relevance? He's hardly about to sell off all of his shares.No one should have a lot of liquid cash on hand. Even middle class people generally have their money in assets of variable liquidity. Elon doesn't need to liquidate his shares to buy a yacht, though he could do that on a small scale occasionally if he wanted to. It's more like various investment funds, banks, and governments would be happy to provide him with a billions in capital if he wanted to start a new company knowing he has assets to underwrite the venture even if it fails. It's also a reflection of the success of his companies. Elon is the richest man in the world for now. The employees who were with him when he founded SpaceX and Tesla have a shot at being billionaires. Many employees are now millionaires, which in turn means he can keep direct compensation low and still recruit the absolute best talent in the world.Reminds me of Microsoft of the late 1990's early 2000's when most of the Microsoft employees (the actual ones that had stock options) that had become multi millionaires. One problem with that and it is many of these retired during the next decade and Microsoft started to stagnate and became less and less the goto company for business and server software.Hopefully Musk's companies have a decade or two before the exodus occurs. SpaceX is more a unique case where what they are doing is not something to be found elsewhere. Unlike with Tesla where every automaker and a few startups have gone all electric with AI self driving software projects. The Tesla skill set is in demand at the moment. But the SpaceX skill set demand is sparse. The prediction is that the demand will pick up. This is due to the impact of SpaceX on the space investment world and the effective obsoletting of the existing designs for more cost effective designs (reusable/fully reusable) that can compete in a new universe of SpaceX's own making once Starship starts a successful and much cheaper to space access price than current. But that has yet to happen but is likely less than a decade and maybe even likely less than 5 years.ADDED:NOTE: Even though Musk may not yet be classed as the richest person. He is very close. May even be the richest by end of week.But the true event that will keep him at that position is the upward significant advance of SpaceX. This will happen likely later this year after (hopefully) both Starlink and Starship success becomes more of a reality. Starlink success will have most of the impact but Starship success is an amplifying factor because ir can reduce Starlink operating costs significantly. Here operating costs include the replacement of Sats every 5 years because they are seem as a consumable due to their short life span vs a sat with a long life as seen as a infrastructure capital equipment.And then the final item. Riches are about what ones does with it not because one has it. Fortunately for Space. Both the #1 and #2 have space expansion investment even if they make nothing from it in their sights. The combined wealth of the 2 of nearly $400B should be able to make a big splash for once in the advancement of humans into space. Just 10% of that wealth wisely and economically on space of $40B could rapidly propel humans out into space to stay.
*snip*Forbes and Bloomberg have had a roughly $15B difference in Musk’s wealth estimate for most of 2020. It is a case of using slightly different methodologies for the calculation. I suspect Forbes either discounts his non-publicly traded shares - i.e SpaceX - by a greater percentage, due to the perceived liquidity risk associated with selling private shares, or they apply a greater safety margin for shares used as security for his loans.Either way, both Bloomberg and Forbes still use the last official $46B valuation for SpaceX, which we know is significantly out of date. In fact, SpaceX was suggested to be worth closer to $100B today, but it is a valuation that will only be officially recognized once they do a capital raise at that value. So the reality is that Elon is actually significantly richer than even Bloomberg’s current estimate.
Reminds me of Microsoft of the late 1990's early 2000's when most of the Microsoft employees (the actual ones that had stock options) that had become multi millionaires. One problem with that and it is many of these retired during the next decade and Microsoft started to stagnate and became less and less the goto company for business and server software.Hopefully Musk's companies have a decade or two before the exodus occurs. SpaceX is more a unique case where what they are doing is not something to be found elsewhere. Unlike with Tesla where every automaker and a few startups have gone all electric with AI self driving software projects. The Tesla skill set is in demand at the moment. But the SpaceX skill set demand is sparse. The prediction is that the demand will pick up. This is due to the impact of SpaceX on the space investment world and the effective obsoletting of the existing designs for more cost effective designs (reusable/fully reusable) that can compete in a new universe of SpaceX's own making once Starship starts a successful and much cheaper to space access price than current. But that has yet to happen but is likely less than a decade and maybe even likely less than 5 years.snip
SpaceX can't go to Mars alone. There has to be an ecosystem of customers for its space truck business. If SpaceX starts spinning out SpaceX millionaires, there is a very good chance they will turn around to start space companies. That is what SpaceX will need more than anything else to succeed.With a whole lot of simplification, SpaceX seems to be following the same path as MS. Develop radical new way to make (computing/space) cheap for the masses. Be forced to develop a product that uses the new capabilities(Word/Excel/Starlink) which make the mothership profitable. Spin out a few hundred millionaires to create companies exploiting the core tech. Refocus back to providing large scale OS/space trucking services to service all the new companies.
