24/7 Wall St. Insights
- U.S. stocks have added more than $8 trillion in market value in 2024.
- Trading at 25 times earnings, the stock market is at its highest since the early 2000s tech bubble.
- Tesla Inc. (NASDAQ: TSLA) stock is way below the highs set in October 2021.
Elon Musk is a tech entrepreneur, engineer, and billionaire known for his influential roles in various industries, including space exploration, electric vehicles, and digital technology. Many consider him the modern-day Thomas Edison, arguably the most influential inventor and investor the world has ever known. He likely will go down in history as one of the greatest minds ever. His staggering $285 billion wealth makes him the world’s wealthiest man.
In 2004, Musk joined Tesla Motors, founded by Martin Eberhard and Marc Tarpenning, as one of the first investors and later took on the leading role of CEO. Under his leadership, Tesla popularized electric vehicles, producing cars like the Model S, Model X, Model 3, and Model Y. Tesla’s focus on high-performance, sustainable electric vehicles helped position it as one of the most valuable car manufacturers globally.
Tesla has maintained a massive lead over the competition in the complex world of electric vehicle production sales and marketing. This lead may grow even more significant when the company launches an affordable car that mainstream consumers can buy below or at $30,000. Tesla has also expanded into battery technology and solar energy with products like Powerwall and Solar Roof.
With a new worth of $285 billion, which soared after Donald Trump’s victory and his title of the richest man in the world, you would think he has a gigantic portfolio with a massive array of stocks, bonds, private equity, hedge funds, and much more. However, he has most of his wealth in Tesla Inc. (NASDAQ: TSLA) and the other companies he founded.
Here is the one stock and some other private companies that makeup Musk’s massive wealth and portfolio.
Tesla
With a total of 715,022 706 shares of the company, Musk owns a 20.5% stake in the stock. According to published reports, it has a $926 billion market cap and is the only publicly traded company in its portfolio. Headquartered in Austin, Texas, it designs, manufactures, and sells battery electric vehicles, stationary battery energy storage devices from home to grid-scale, solar panels and solar shingles, and related products and services.
SpaceX
Musk founded SpaceX in 2002, saying he wanted to enable humans to live on other planets. With Elon as CEO, the company has significantly reduced space travel costs and increased space missions’ reliability through its reusable rocket technology. Valued at an estimated $210 billion, SpaceX is at the top of the aerospace hierarchy, ahead of second-place GE Aerospace, valued at about $186 billion. Musk holds 42% equity in SpaceX.
Twitter, known now as X
Purchased and taken private by Musk in 2022, Twitter has become one of the world’s most-used social media platforms. Musk acquired the platform via a hostile takeover, and the deal was one of the most talked about in recent stock market history. While the company’s estimated market valuation is just below $15 billion, a drop of more than 70% since the purchase and reorganization, Musk owns 79% and seems more than content to hold the company and continue to build its value as he champions free speech and the ability for users to post and not be censored, as that was one of the significant issues that prompted his purchase.
And Others
- xAI is valued at $24 billion.
- The Boring Company is valued at $5 billion, of which Musk owns 90%.
- Neuralink has an estimated value of $5 billion. Musk invested $100 million in 2016.
Two of the Highest-Yielding Dividend Kings Are Our Top November Picks
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
