5 Ways Elon Musk Stays So Rich Even When Taking Big Risks
Written by
Yaël Bizouati-Kennedy
Edited by
Cory Dudak
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Elon Musk is the third-richest man on the planet, with a net worth standing at an eye-popping $202 billion as of May 28. Musk would maintain his ranking even if his net worth dropped by $26.6 billion year-to-date, according to Bloomberg Billionaires Index.
Musk has ownership or a stake in many different companies. He is the founder, chairman, CEO, and chief technology officer of SpaceX and the CEO of Tesla, Inc. He is also the owner, chairman and CTO of X Corp., founder of the Boring Company and xAI, and co-founder of Neuralink and OpenAI.
Additionally, Musk bought X — formerly Twitter — for a staggering $44 billion in 2022.
Musk is known for taking risks and making huge financial and personal bets, such as the acquisition of X.
Here’s how the billionaire is staying rich and where his money is.
Tesla
This is Musk’s largest asset, according to Bloomberg. And according to The Washington Post, he holds a 13% stake in the company, with a value of $77 billion in shares and $49.8 billion in options. This amounts to approximately $127 billion, which is a large chunk of his wealth.
SpaceX
Musk has a 42% stake in the company, with a value of $71.2 billion The Washington Post noted.
X
He holds a whopping 79% stake in the social media platform, valued at $8.4 billion, The Washington Post reported.
The Boring Company
The Boring Company “creates safe, fast-to-dig, and low-cost transportation, utility, and freight tunnels. The mission: solve traffic, enable rapid point-to-point transportation and transform cities,” according to its website.
Founder Musk owns a $3.3 billion stake in the company.
Musk’s Strengths
Musk is known for getting in early on trends, notably when it comes to technology shifts. For instance, most recently, he initiated his foray into artificial intelligence (AI), with the newest company, xAI, which is building artificial intelligence to speed up scientific discoveries, according to its website.
In addition, Musk is known for focusing on costs and cost-cutting.
Finally, Musk knows how to diversify: from rockets to EVs and from social media to AI, Musk has a hand in several sectors, which might be helping him protect against risk and potential losses.
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