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This is why losing 200 billion USD but – wild guy – Elon Musk is still as calm as ever
At the end of 2022, the famously extravagant billionaire Elon Musk became the first person in history to lose $200 billion. However, with the remaining $ 137 billion, the second richest man in the world does not need to be sad because it is a huge amount of money, beyond the imagination of most of humanity.
What did Elon Musk do to be so rich?
Have you ever wondered where billionaire Elon Musk’s fortune comes from? Let us answer it for you.
Born in 1971 in South Africa, Elon Musk is currently the CEO of Tesla – the world’s largest electric vehicle company, the founder of SpaceX, the first private aerospace company to send people into space and the CEO of the social network Twitter. after the massive acquisition. In addition, he also founded and co-founded the companies Boring Company, Neuralink and OpenAI.
Currently, Musk’s fortune comes mainly from Tesla, SpaceX and Twitter.
Ambitious, unprecedented projects lead Elon Musk to be described as the real-life Iron Man. However, his dream of being buried on Mars also makes him known as the most “extravagant” billionaire on the planet.
In fact, Elon Musk’s first success came from Zip2, the software company he and his brother founded in 1995. Four years later, Compaq bought Zip2 for $307 million in cash and $34 million in stock. promissory note.
Immediately after selling Zip 2, Elon Musk founded X.com, an online financial services and email payment company. This company acquired Confinity and PayPal was born. In 2002, Ebay acquired Paypal for 1.5 billion USD and Elon Musk had many more millions of dollars when he held 11.7% of the company’s shares.
The same year, SpaceX was born. Two years later, he became the chairman of Tesla Motors. By now, both SpaceX and Tesla have become companies with a market capitalization of over $100 billion. Tesla alone is sometimes worth more than 1 trillion USD.
What is the experience of losing 200 billion USD?
Although many people struggled because of the Covid-19 pandemic, the era of cheap money helped Tesla stock explode. In November 2021, this business peaked at $ 1 trillion in market capitalization and Elon Musk’s fortune also increased to 340 billion.
However, the wind changed direction. High inflation prompted the US Federal Reserve (FED) to sharply raise interest rates at an unprecedented rate after decades leading to a sell-off in technology stocks. Tesla is not immune to the impact.
In less than 13 months, $200 billion has been blown out of Elon Musk’s net worth. No one in human history has lost so much money. And worse yet, that money was blown away in record time.
Win is king, lose is cursed and Elon Musk is no exception. The collapse of Tesla stock put Musk in the center of public opinion. Articles criticizing him regularly appear in newspapers around the world.
So, is Elon Musk sad to lose the most money in history?
The answer is probably not. At its peak, Elon Musk’s total net worth was $340 billion, but much of it was in stocks and shares. In other words, it is an asset that remains on… paper.
Although he has lost his position as the richest person on the planet, as of the last day of 2022, Elon Musk’s fortune is still up to 137 billion USD. Have you ever thought what Musk can buy with this money? Let’s “Vietnamize” this money together!
According to Bloomberg, this amount can buy 74.1 million ounces of gold (1.34g), approximately 2,100 tons.
If converted into crude oil, which is very interested at the moment, the quantity is 1.59 billion barrels.
$137 billion is equivalent to 0.588% of the GDP of the United States, the largest economy in the world.
Equivalent to 1.96% of the total assets of the 500 richest people on the planet.
It is equal to 34.6% of the total undergraduate scholarships of the top 100 universities in the United States.
America’s 200 largest paid business leaders worked for about 20 years to get that money.
On average, a household in the US has to work about 2 million years to have the same fortune as Elon Musk.
This amount is enough to buy 8.43% of the total number of homes for sale in the US.
With his huge fortune, perhaps Elon Musk will not need to worry about being sad when $ 200 billion is blown away.
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