YouTube is a great option for keeping up with the latest crypto news, including: Its board eventually agreed to recommend Musk's offer to purchase the remainder of the company.No matter your experience level with cryptocurrency, there's always more to know. In April 2022 Musk revealed he had purchased a stake in social-media company Twitter Inc.
He announced in October 2021 that Tesla would move its headquarters from Palo Alto, California to Austin, Texas. Tesla became the world's most valuable carmaker in July 2020 and further gains led to Musk becoming the world's richest person in January 2021. Musk, who has said he intends to retire on planet Mars, joined Warren Buffett's Giving Pledge in April 2012. SolarCity sold shares in a public offering in 2012 and was bought by Tesla on Nov. His third company, SolarCity, was a provider of solar power systems.
In the same year the company sold shares in a public offering. A year later, he co-founded Tesla, the company that produced the world's first all-electric, zero-emission sports car in 2010. His next project: SpaceX, a closely held rocket company that was tapped by NASA to take over space shuttle's role of resupplying the International Space Station. He would merge that with what eventually became PayPal, the e-commerce site that was ultimately sold to eBay for $1.5 billion in 2002. He reinvested some of the proceeds to start X.com, an online payment system. He created an online publishing platform called Zip2 in 1995 and sold it four years later for more than $300 million. He dropped out after his first few days to pursue his three main areas of interest: the Internet, clean energy and space. After graduating from the University of Pennsylvania with degrees in physics and economics, he enrolled at Stanford University. is valued based on an April 2022 funding round.īorn in South Africa to an engineer father and nutritionist mother, Musk left home as a 17-year-old for college in Canada, in part to avoid serving in the apartheid-era South African army. His investment in tunneling venture The Boring Co. A liability of $6.4 billion is included in the analysis to reflect calculated pledges of SpaceX shares. Musk said in 2019 that some of his SpaceX shares were also pledged, without providing further details.
The maximum loan allowable under this arrangement could be no more than 25% of the value of those shares, according to the filing, and 25% of the pledged shares have been deducted from his holding to account for the credit line. The value of his cash holdings includes proceeds from his insider transactions and is adjusted to reflect taxes, market performance, and charitable giving.Ībout half of Musk's Tesla shares were pledged as collateral to secure personal indebtedness, according to the company's 2022 proxy statement. In July 2022, he sought to back out of the agreement. In April 2022, Twitter's board agreed to support an offer from Musk for the remainder of the company, which needs to be approved by shareholders. He also owns about 9% of Twitter, a stake he began to acquire in February 2022. Bloomberg's analysis assumes that his stake has been diluted to about 44% in subsequent rounds. The value is reduced by 15% to account for typical discounts that shares in unicorns attract on the secondary market. A 2020 filing showed Musk owned 47% of the closely held company through a trust. SpaceX is valued using a June 2022 funding round that valued the company at about $125 billion. He also holds about 92.9 million exercisable options to buy Tesla shares, according to a Bloomberg analysis, which are included at their net value. Musk owns about 16% of Tesla, according to an April 2022 regulatory filing. Musk is CEO of publicly traded Tesla, which is the world's most valuable carmaker, and closely held rocket business SpaceX, which counts the US National Aeronautics and Space Administration as a client.