Elon Musk Is the World's First Trillionaire. Here's Where His Wealth Is Stored.
Written by Matthew Benjamin for The Motley Fool -> Only about 0.1% of Musk's assets are held in cash and cash equivalents. His wealth will naturally fluctuate with the stock prices of his companies. In the wake of the record-setting initial public offering of Space Exploration
Only about 0.1% of Musk's assets are held in cash and cash equivalents.
His wealth will naturally fluctuate with the stock prices of his companies.
In the wake of the record-setting initial public offering of Space Exploration Technologies (NASDAQ: SPCX) , widely known as SpaceX , Elon Musk just officially became the world's first trillionaire. Forbes , which tracks these things, puts his current net worth at $1.3 trillion. So, where does he store all that money?
Little of it is in cash or cash equivalents such as money market funds, certificates of deposit, or short-term Treasury bills. Such liquid assets make up only about 0.1% of his wealth, Musk said recently. Still, that's at least $1 billion, more than enough cash on hand for everyday expenses for anyone. Even for Musk, presumably.
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The vast bulk of his enormous fortune is in the stocks of his two main companies, SpaceX and electric vehicle manufacturer Tesla (NASDAQ: TSLA) .
Musk reportedly owns at least 38% of SpaceX, including stock options. The company's market cap is currently about $2.6 trillion, so that stake is worth about $1 trillion, give or take a few tens of billions.
He owns about 10% of Tesla , which is currently valued at about $1.5 trillion, so his stake is worth about $150 billion.
