Elon Musk has said he’s ridding himself of earthly possessions.
But he mostly owns California real estate — millions of dollars’ worth, an illiquid asset that’s hard to sell.
His Tesla shares, after a massive run-up, are worth close to $40 billion, but he almost never sells stock. He lives off loans from major banks, using his Tesla stake as collateral.
Musk appears to be selling several of his multimillion-dollar homes, but his latest moves aren’t really all that weird; he’s never cared much about money, seeing it as a means to an end.
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Tesla and SpaceX CEO Elon Musk is sometimes accused of caring about only money, but the truth is that money is almost meaningless to him.
That’s because he’s a multibillionaire, to a degree. As Tim Higgins pointed out in The Wall Street Journal, Musk’s 20% stake in Tesla makes him worth about $40 billion — but he can’t sell any of those shares without relinquishing some control over the company or provoking a sell-off that could damage investors.See the rest of the story at Business Insider
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