Re:Elon Musk unveils first tourist for SpaceX 'Moon loop'
by Expez on Tuesday September 18, 2018 @06:48AM
(#18014093)
> To be honest though, I don't really understand how normal money-you-buy-stuff-with works for people who are billionaires when most of their wealth is in stock and options.
He takes out loans with his shares as collateral to get spending money.
Why not just sell? Because he expects the shares to appreciate more than what he'd pay in interest and/or to retain the shareholder vote.
Can he? He definitely has the potential to be massively wealthy. If Tesla/SpaceX/BoringCo/etc exit at some point he'll walk away with '*&^@ you money', but until then he doesn't seem to have that much. According to Bloomberg he's in debt with personal loans to the tune of hundreds of millions of dollars[1].
To be honest though, I don't really understand how normal money-you-buy-stuff-with works for people who are billionaires when most of their wealth is in stock and options.
[1] https://www.bloomberg.com/news/articles/2018-08-16/musk-pick...