Elon Musk, the tech billionaire behind Tesla and SpaceX, has refuted claims that he makes $142,690 every minute, clarifying that his wealth is primarily tied to the stocks of the companies he co-founded. Reports suggesting these earnings rely on "silly metrics," he added.
A report had previously stated that Musk's net worth increased by approximately $2,378 per second over a three-year period, equating to $142,680 per minute or $8,560,800 per hour. Musk, however, emphasized that his wealth is not a vast cash reserve but rather ownership of stocks in companies he played a significant role in creating.
From January to June 2023, Musk's net worth surged by an astounding $96.6 billion, making him the world's wealthiest individual with a net worth of $248.7 billion. The majority of his wealth, about two-thirds, is closely linked to the success of Tesla, in which he holds a 23 percent stake.
Musk's financial journey has been marked by significant fluctuations. In October 2022, he made headlines by acquiring Twitter for $44 billion. However, earlier this year, he became the first person to lose $200 billion in net worth over a 13-month period. His fortune peaked at $340 billion in November 2021 before experiencing a substantial decline, notably due to a nearly 65 percent drop in Tesla's stock.
.jpg)