Elon Musk Is the World's First Trillionaire. Here's Where His Wealth Is Stored.
The bulk of his fortune is in the stocks of two companies.
Elon Musk Is the World's First Trillionaire. Here's Where His Wealth Is Stored.
Overview
In the wake of the record-setting initial public offering of Space Exploration Technologies (NASDAQ: SPCX), widely known as SpaceX, Elon Musk just officially became the world's first trillionaire. Forbes, which tracks these things, puts his current net worth at $1.3 trillion. So, where does he store all that money?
Little of it is in cash or cash equivalents such as money market funds, certificates of deposit, or short-term Treasury bills. Such liquid assets make up only about 0.1% of his wealth, Musk said recently. Still, that's at least $1 billion, more than enough cash on hand for everyday expenses for anyone. Even for Musk, presumably.
Details
The vast bulk of his enormous fortune is in the stocks of his two main companies, SpaceX and electric vehicle manufacturer Tesla (NASDAQ: TSLA).
Source
Originally published at www.fool.com.
