Elon Musk is the richest person in the world, with a current net worth of around $436 billion. But he doesn’t just have that kind of money in his wallet, so what does that really mean? Veuer’s Tony Spitz has the details.
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00:00Elon Musk is the richest person in the world, with a current net worth of around 436 billion
00:05dollars. But he doesn't just have that kind of money in his wallet. So what does that really
00:09mean? Well, most of Musk's wealth comes from Tesla, where he currently owns a 13% stake in
00:14the car manufacturer. However, he also has stakes in other companies like SpaceX, Neuralink, X,
00:20and his tunneling business, The Boring Company. Still, a lot of his presumed wealth is based on
00:25valuations. For instance, SpaceX has often had a valuation of more than 100 billion dollars.
00:30Musk's wealth is also directly tied to the stocks he holds, meaning it fluctuates up and down just
00:35like the markets. His purchase of Twitter for 44 billion dollars in 2022 was a substantial hit to
00:41his liquid assets, forcing the businessman to sell off other stocks to pay for it. He has since
00:46rebounded, no doubt due largely in part to his controversial wealth management strategies. Those
00:51have seen the now Trump administration special government employee pay zero dollars in federal
00:56income tax some years.