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Elon Musk Just Became The First Person Ever Worth $500 Billion

LectureMaster

LectureMaster

Or is it just one of Adam's balls in my throat?


www.foxbusiness.com

Elon Musk makes history as first person ever to hit $500B net worth milestone: report

Elon Musk achieves historic $500 billion net worth as Tesla stock rises after his wealth grew from $24.6 billion in March 2020 to the unprecedented milestone.
www.foxbusiness.com www.foxbusiness.com
The Tesla and SpaceX CEO's fortune crossed the half-trillion mark around 3:30 p.m. ET, putting him about $150 billion ahead of Oracle co-founder Larry Ellison, the world's second-richest person, Forbes reported.

Musk's wealth has skyrocketed from $24.6 billion in March 2020 to a series of milestones: $100 billion by late 2020, $200 billion in 2021 and $400 billion in 2024, before reaching $500 billion this week.

At his current pace, Musk could become the world's first trillionaire by 2033, when Tesla's proposed $1 trillion compensation package begins vesting, Forbes reported.

ELON MUSK PLEDGES RETURN TO '24/7' WORK AT HIS FIRMS AFTER WIDESPREAD X OUTAGE

"It's not about 'compensation', but about me having enough influence over Tesla to ensure safety if we build millions of robots," Musk said in an X post in September. "If I can just get kicked out in the future by activist shareholder advisory firms who don't even own Tesla shares themselves, I'm not comfortable with that future."

THESE ARE THE BIGGEST MOVES ELON MUSK MADE WHILE RUNNING DOGE

Tesla stock rose nearly 4% Wednesday, adding about $9.3 billion to Musk's fortune. The stock has nearly doubled since April, when Musk announced he would step back from his role leading President Trump's Department of Government Efficiency (DOGE) to refocus on the EV maker, Forbes reported.
 
Here is the thread we made last December when he cracked 400 billion.

LectureMaster

Thread 'Elon Musk becomes the first person to reach a net worth of $400 billion'

www.bloomberg.com

Elon Musk’s Net Worth Tops $400 Billion, a Historic First

Elon Musk, whose wealth has been turbocharged since President-elect Donald Trump’s win last month, became the first person to reach $400 billion in net worth, the latest milestone for the world’s richest individual.
www.bloomberg.com www.bloomberg.com
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Kacho Kacho My man Musk is on fire.
 
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i think i already posted this in a previous thread some time ago but if Bill Gates had kept all of his Microsoft shares, today he would have +1500 billions in stock and 100 billions in cash from dividends which would have been crazy.
 
Sophist said:
i think i already posted this in a previous thread some time ago but if Bill Gates had kept all of his Microsoft shares, today he would have +1500 billions in stock and 100 billions in cash from dividends which would have been crazy.
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Crazy how much money these people have, yet nobody can buy a home ¯⁠\⁠_⁠(⁠ツ⁠)⁠_⁠/⁠¯
 
12Goblins said:
Crazy how much money these people have, yet nobody can buy a home ¯⁠\⁠_⁠(⁠ツ⁠)⁠_⁠/⁠¯
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It's good to remember that they dont actually have that much money. It's all tied up in businesses and the like.

If they tried to fold it all into cash it would plummet in value. It would still be an incredible amount of money of course but significantly less.
 
LectureMaster said:
Here is the thread we made last December when he cracked 400 billion.

LectureMaster

Thread 'Elon Musk becomes the first person to reach a net worth of $400 billion'

www.bloomberg.com

Elon Musk’s Net Worth Tops $400 Billion, a Historic First

Elon Musk, whose wealth has been turbocharged since President-elect Donald Trump’s win last month, became the first person to reach $400 billion in net worth, the latest milestone for the world’s richest individual.
www.bloomberg.com www.bloomberg.com
  • Fire
  • Triggered
  • Like
  • Thoughtful
  • Praise the Sun
  • Empathy

Kacho Kacho My man Musk is on fire.
Click to expand...
Dude is worth $500 bajillion and he's trying to cancel Netflix on Twitter. I wish I could reach that power level.

We need XXL XXL back. I bet he's through the roof with this news.
 
Kacho said:
Dude is worth $500 bajillion and he's trying to cancel Netflix on Twitter. I wish I could reach that power level.

We need XXL XXL back. I bet he's through the roof with this news.
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Did you know what happened to James and XXL? Honestly a bit surprised when I found out today.
 
LectureMaster said:
Did you know what happened to James and XXL? Honestly a bit surprised when I found out today.
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James got obliterated for his endless Sony shilling. Completely harmless content but mods got tired of it.

XXL I can't remember exactly. Something politics related iirc.
 
America is the perfect hot bed for people like him to get rich. Surrounded by Yes Men, virtual money being thrown around at everything. You can lie about everything.
 
I really don't understand what's happening with Tesla stock. It dropped significantly due to poor sales, but somehow poor sales resulted in people having more faith than ever in the company, and now it's higher than ever. And then he gets an even bigger paycheck and everyone is happy.
 
The pet terrorists and smear campaigns were unleashed on Tesla/Musk as punishment for his involvement with the Trump administration, and called off when he left.

His work with SpaceX is too vital to US national interests (ie. deep state interests) to cancel him outright, but he still had to be brought to heel.
 
That is less than two months of US Government budget deficit. If you want to play victim, at least name-call the real perpetrators.
 
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👀

73834529-12360017-image-a-2_1690881438563.jpg
 
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nkarafo said:
He could completely change the lives of hundreds of people by giving them (relatively) his pocket change.
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Or he could start NUMEROUS companies to achieve once thought impossible tasks, employing TENS OF THOUSANDS (hundreds of thousands probably with feeder companies?) and advancing the human race. The guy is catching rockets, bringing the internet to the ENTIRE planet, breaking the dependence on fossil fuels, toppled fascist control of media, and then has that Boring project which doesn't seem to be panning out due to Reptilian protests.
 
At one point it's only a number going up. Not surprising Elon likes Diablo 4 so much.
But yea, I think he does some really cool things with his money.
 
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Think about what you could do with 500Bn.

Look at anything and ask "why is that happening?" And the answer is 99.999% of the time "because Elon Musk is happy for it to happen."
 
Mr Reasonable said:
Think about what you could do with 500Bn.

Look at anything and ask "why is that happening?" And the answer is 99.999% of the time "because Elon Musk is happy for it to happen."
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I mean I don't expect anyone on GAF to understand that Elon Musk isn't sleeping on a bed made of $500B in $100 bills

His net worth is tied up in the equity he holds in the companies he founded and run. You might remember the last time he got the bright idea of selling a bunch of his Tesla stock in order to buy Twitter - it crashed by 75% because of the sheer volume of his sales in just half a year of time. And that was "only" $44B worth of his Tesla holdings

What I'm saying is he doesn't have $500B laying around and he can't suddenly raise $500B because the moment he starts selling stock he'll flood the market and drive the value of his shares down. His wealth is extremely illiquid, and you'll be shocked to realize that the majority of rich people's wealth is like this. Larry Ellison, Mark Zuckerberg, Jeff Bezos, Larry Page and Sergey Brin, Jensen Huang, Bill Gates and Steve Ballmer, etc. all have their wealth tied up in the companies they founded in much the same way
 
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Unknown Soldier said:
I mean I don't expect anyone on GAF to understand that Elon Musk isn't sleeping on a bed made of $500B in $100 bills

His net worth is tied up in the equity he holds in the companies he founded and run. You might remember the last time he got the bright idea of selling a bunch of his Tesla stock in order to buy Twitter - it crashed by 75% because of the sheer volume of his sales in just half a year of time. And that was "only" $44B worth of his Tesla holdings

What I'm saying is he doesn't have $500B laying around and he can't suddenly raise $500B because the moment he starts selling stock he'll flood the market and drive the value of his shares down. His wealth is extremely illiquid, and you'll be shocked to realize that the majority of rich people's wealth is like this. Larry Ellison, Mark Zuckerberg, Jeff Bezos, Larry Page and Sergey Brin, Jensen Huang, Bill Gates and Steve Ballmer, etc. all have their wealth tied up in the companies they founded in much the same way
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Totally, the wealthiest people in the world are actually penniless slaves to the stock market who are incapable of doing anything ever.
 
Mr Reasonable said:
Totally, the wealthiest people in the world are actually penniless slaves to the stock market who are incapable of doing anything ever.
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He has all the money he could ever need but yeah, he doesn't have 500 billion on his bank account. Why would anyone even want that? Smart people (so not me) let their money work.
 
JimmyRustler said:
He has all the money he could ever need but yeah, he doesn't have 500 billion on his bank account
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Even I don't have all my money in a bank account, I didn't think that Musk would keep his in cash either.

Knowing that he has an extreme amount of wealth currently tied up in various different schemes, properties, investments and businesses doesn't diminish the point I made earlier.
 
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Mr Reasonable said:
Even I don't have all my money in a bank account, I didn't think that Musk would keep his in cash either.

Knowing that he has an extreme amount of wealth currently tied up in various different schemes, properties, investments and businesses doesn't diminish the point I made earlier.
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No one has their money in a bank. When you deposit cash, you are in actuality loaning it to the bank. Holders of cash in banks are unsecured creditors with a credit claim against the bank, but have no enforceable claim to their loaned money.

12Goblins said:
Crazy how much money these people have, yet nobody can buy a home ¯⁠\⁠_⁠(⁠ツ⁠)⁠_⁠/⁠¯
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He's much closer to the money creation process than most. Whoever is closer to that benefits more before everyone else is burdened by the inflation. Notice how his wealth shot up after 2020? 2020 had trillions upon trillions of new dollars, 20% of all dollars ever created were created in 2020 which inflates everything including the stock market.
 
Unknown Soldier said:
I mean I don't expect anyone on GAF to understand that Elon Musk isn't sleeping on a bed made of $500B in $100 bills

His net worth is tied up in the equity he holds in the companies he founded and run. You might remember the last time he got the bright idea of selling a bunch of his Tesla stock in order to buy Twitter - it crashed by 75% because of the sheer volume of his sales in just half a year of time. And that was "only" $44B worth of his Tesla holdings

What I'm saying is he doesn't have $500B laying around and he can't suddenly raise $500B because the moment he starts selling stock he'll flood the market and drive the value of his shares down. His wealth is extremely illiquid, and you'll be shocked to realize that the majority of rich people's wealth is like this. Larry Ellison, Mark Zuckerberg, Jeff Bezos, Larry Page and Sergey Brin, Jensen Huang, Bill Gates and Steve Ballmer, etc. all have their wealth tied up in the companies they founded in much the same way
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Don't these guys get loans using their stock as collateral for this reason? That way they can avoid selling stock but still cash in on their value.
 
$500b dollars and he still desperate for attention and praise.

Turns out there are things money can't buy.
 
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Unknown? said:
No one has their money in a bank. When you deposit cash, you are in actuality loaning it to the bank. Holders of cash in banks are unsecured creditors with a credit claim against the bank, but have no enforceable claim to their loaned money.
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I hope that this doesn't seem rude, but I fail to see how this point advances the conversation in any meaningful way.
 
Mr Reasonable said:
I hope that this doesn't seem rude, but I fail to see how this point advances the conversation in any meaningful way.
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No, you are right. I was just making the comment to inform.

On topic, though, I guess you could say that's why rich people are smart enough to have huge accounts at banks
 
Grildon Tundy said:
Don't these guys get loans using their stock as collateral for this reason? That way they can avoid selling stock but still cash in on their value.
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Yes that is one way to do it. But no bank exists on Earth which can guarantee a $500B loan or something like that. The reality is these centibillionaires cannot tap most of their wealth. The other reality is that they simply don't need to. There's nothing that they could buy for $500B anyways. Larry Ellison famously bought a entire Hawaiian island for a tiny fraction of his net worth
 
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