Originally posted by Hot Pepsi
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Timeline of how Elon made his billions here. Summary Zip2, PayPal, SpaceX, Tesla:
https://www.news18.com/amp/photogall...s-5063911.html
BUT, the main bulk of his wealth relates to the aforementioned hype and the fact that Tesla is absolutely insanely overvalued.
Some details on Elon's family background prior to the 1990s here too. He didn't start with nothing. His father, Errol Musk, made his fortune from consulting and property development, and had a stake in an emerald mine. Elon went to a prestigious private school and Errol "owned thoroughbred horses, a yacht, several houses and a Cessna."
https://buffalonews.com/business/loc...b48a4f4f3.html
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It is a very good bet that Musk will no longer be the "richest* come year end.
This measure of "rich" isn't as dumb as that of football clubs being measured solely by turnover, but it is still very flawed given how much of the individuals' wealth is tied up in single stocks they can't liquidate at once.
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Originally posted by Balderdasha View PostBUT, the main bulk of his wealth relates to the aforementioned hype and the fact that Tesla is absolutely insanely overvalued.
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Making a multi billion dollar bid for a public company is an effective screen that allow one to sell over valued stock without triggering alarms or causing a precipitous drop in the share price, but entering into a binding contract to complete the purchase is the last thing one would want to do if that was one's primary intent.
He is going to lose in Delaware and throw more epic tantrums about how unfair the jealous world is to his unique genius.
And his playing footsie with GOP is not going to be terribly effective in the Court of Chancery.
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Yeah - $1bn is the best case outcome he is looking for. Also this whole nonsense and the increased leverage on his Tesla stake is continuing to place massive downward pressure on his dollar wealth. There is very little light in which this doesn't appear like an awful self mutilation.
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