Online Reporter
SAN FRANSISCO. – In January 2020, he was only the 35th richest person in the world, with a fortune of around US$28bn.
But his wealth took off that year as the value of his two biggest companies – electric carmaker Tesla and space exploration and AI firm SpaceX – began to grow sharply.
Musk holds large stakes in both businesses.
The long-scroll chart below traces this volatile journey over the last six years.
His wealth trajectory mimics a jagged mountain range, with dramatic surges and steep declines driven by swings in Tesla’s share price, the rising value of SpaceX, and shifts in political and investor sentiment during his time in the Trump administration.
By January 2021, the tech mogul had risen to become the world’s richest person, briefly overtaking Jeff Bezos.Back in 2015, only two of the world’s top 10 richest people were from the tech world.
Now that number is seven, including the entire top six.
It’s important to remember that Musk’s wealth is mainly made up of stock holdings that can rise or fall depending on investor sentiment.
Indeed in February, the tech mogul said on X that less than “0.1%” of his net worth was held in cash.
Musk currently owns a 12% stake in Tesla, a company with a market valuation of around US$1.5tn, and a 42% stake in SpaceX, which is now worth more than US$2tn.
Many of his shares have been pledged as collateral against personal loans.
The tech boss also owns stakes in smaller businesses, including The Boring Company, a tunnel construction firm, and Neuralink, which develops implantable brain-computer interfaces.
This extreme reliance on paper assets rather than liquid cash creates a striking imbalance.
The horizontal block of his wealth is almost entirely consumed by two massive corporate holdings, leaving virtually no room for actual cash.
Historically, the world’s wealthiest individuals earned fortunes in sectors like finance and manufacturing.
Today, the global rich list tells a completely different story.
The tech titans have monopolised the top spots over the last decade. – BBC
