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Elon Musk reveals the 5 big investments that fuel his more than $160 billion net worth


Elon Musk

Elon Musk’s net worth topped more than $160 billion this year, making him the second richest person on Earth.
Musk’s net worth is driven by five investments, which he revealed at a conference on Wednesday.
These are the five holdings behind Musk’s net worth.

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Elon Musk’s net worth of more than $160 billion makes the Tesla CEO the second richest person on Earth, just behind Amazon founder Jeff Bezos.

At a bitcoin-focused conference on Wednesday, Musk revealed the 5 big investments that fuel his massive wealth.

Unsurprisingly, his wealth, like most billionaires, is highly concentrated in a handful of names, and Musk is only invested in one public company.

These are the 5 big investments driving Elon Musk’s more than $160 billion net worth.

5. Dogecoin

Cryptocurrencies that are set to see the most growth are backed by strong fundamentals

Musk’s Stake: Unknown.

Coined “the dogefather,” Musk has been a long-time proponent of dogecoin and often tweets jokes about the meme-inspired cryptocurrency. In May, Dogecoin peaked at about $0.75 in anticipation of Musk’s hosting of Saturday Night Live. Since its peak, dogecoin is down more than 70%.

4. Ethereum

Ether is the cryptocurrency of the Ethereum network

Musk’s Stake: Unknown.

3. Bitcoin

Bitcoin has fallen more than 40% from its April record high.

Musk’s Stake: Unknown.

“The bitcoin I own is worth much more than the ethereum or doge [that I own],” Musk said at Wednesday’s conference. Musk added that both SpaceX and Tesla own bitcoin, and that he is open to Tesla accepting bitcoin as a form of payment again once bitcoin mining is more reliant on clean energy.

2. SpaceX

A SpaceX Falcon 9 rocket lifting off on a resupply mission to the International Space Station.

Stake: Estimated at 48%, but could be lower if Musk’s stake was diluted during the last funding round.

Value: $35 billion, based on SpaceX’s last funding round valuation of $74 billion, and assuming Musks till owns 48% of the space exploration company.

1. Tesla

Tesla TKed Wall Street’s expectations.

Stake: 22.4%, as of December 31. Musk can still receive billions more in Tesla stock based on his pay agreement.

Value: $141 billion, based on Tesla’s market valuation of $631 billion as of July 21.

Aside from the investments listed above, Musk added that he owns a stake in two of his early-stage private companies, Neuralink and Boring Company, but that those investments are of little significance in value relative to the others.

Read the original article on Business Insider

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Source:: Business Insider

      

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