in a single of a series of untamed tweets published final week, Elon Musk said he could be “selling just about all bodily possessions” and that he would “personal no space.” He appears to be in fact following thru with that promise, as chronicled in an ideal tale in the Wall Boulevard Magazine about Musk’s private budget that you just must move read.
according to the WSJ, in spite of being value an envisioned $39 billion on paper:
…he has to borrow, every now and then so much, to pay for his way of life and industry investments with out liquidating shares that assist him handle keep watch over of the corporations he runs. Approximately half his Tesla stock is pledged as collateral for personal loans, an April 28 financial filing displays. Maintaining his equity stake—approximately 20%, or round $29 billion at its current valuation—is important for him to keep control over the Silicon Valley automobile maker.
Musk also doesn’t take a earnings at Tesla, however he it appears turned into eligible for stock options value more than $1 billion this week. To get that cash, he’s going to want an eye-watering $592 million to exercise the option, according to the WSJ. It’s now not transparent if Musk has the money available to workout that possibility or if the money raised from the home sales will likely be used to assist pay for the sum. “Mr. Musk mentioned he wasn’t promoting his possessions as a result of he wishes the cash,” the WSJ said.
the object additionally lists a few occasions Musk has mentioned he’s cash bad. Right Here’s one instance:
Ahead Of Tesla went public, Mr. Musk advised a judge all over a contentious divorce along with his first wife that he had run out of cash and had taken on emergency loans from pals to give a boost to his circle of relatives and pay residing expenses.
Here’s some other:
Last year, Mr. Musk’s ability to get entry to money came up once more during a defamation lawsuit over feedback he made a couple of guy fascinated about the rescue of a Thai football crew from a flooded collapse 2018. A lawyer in the case mentioned in a submitting that Mr. Musk had defined himself as “financially illiquid.”
the whole article has so much of historical past approximately Musk, interesting details about his price range sponsored up by regulatory filings, and numerous prices from Musk himself, and that i surely counsel taking 10 mins to read it in complete.
Oh, and for those who have been wondering the status of Musk’s homes: he has listed 3 California mansions for sale and plans to promote 4 other homes in Bel-Air, in keeping with the WSJ. Once the homes are offered, Musk doesn’t know “the place i can stay yet, but will more than likely rent a small area someplace,” he said in an electronic mail to the WSJ.