Re:Elon Musk now lives in a $50K house at Starbase, Texa
by anthonygd on Thursday June 24, 2021 @11:04AM
(#27618646)
It sounds like you don't understand how wealth works and you're having some sort of emotional reaction towards "rich people".
I just did a quick search for the breakdown, but essential 81% of Elon's wealth is Tesla stock and 14% is SpaceX. The remaining 5% is a combination of assets. The important point is that 95%+ of his wealth is being actively used by other people for things like salaries, research and manufacturing. That's how investing works: you give your money to other people in exchange for some well defined privileges. We talk about those privileges as being worth a certain $x but that's not at all the same as having $x.
There is no Uncle Scrooge style vault with cash. Other people are using that money.
I just did a quick search for the breakdown, but essential 81% of Elon's wealth is Tesla stock and 14% is SpaceX. The remaining 5% is a combination of assets. The important point is that 95%+ of his wealth is being actively used by other people for things like salaries, research and manufacturing. That's how investing works: you give your money to other people in exchange for some well defined privileges. We talk about those privileges as being worth a certain $x but that's not at all the same as having $x.
There is no Uncle Scrooge style vault with cash. Other people are using that money.
https://www.businessinsider.com/elon-musk-net-worth-quintupl...