Category Archives: Elon Musk

Elon Musk got a post-breakup glow-up.

The newly single Tesla and SpaceX founder is Time Magazines pick for their 2021 Person of the Year.

Person of the Year is a marker of influence, and few individuals have had more influence than Musk on life on Earth, and potentially life off Earth too, Times editor-in-chief and CEO Edward Felsenthal said in a statement on Monday.

Earlier this year, Musk, 50, caused a seismic wave on Earth when he announced his split from musician Grimes, his girlfriend of three years. In May 2020, the ex-couple welcomed son X A-Xii a name that dominated headlines and even became a meme.

Musk told Page Six in September that he and the Canadian singer, 33, are semi-separated but will remain on good terms to co-parenttheir son.

We are semi-separated but still love each other, see each other frequently and are on great terms, Musk said at the time. Its mostly that my work at SpaceX and Tesla requires me to be primarily in Texas or traveling overseas and her work is primarily in LA.Shes staying with me now and Baby X is in the adjacent room.

But 2021 was all about Musk. This year saw the South African-born entrepreneur be deemed the richest man in the world, with a value estimated to be some $266 billion.

In 2021, Musk emerged not just as the worlds richest person but also as perhaps the richest example of a massive shift in our society, Felsenthal added.

In fact, his big year saw him add more than $100 billion to that fortune and steal the title of worlds wealthiest person from rival Jeff Bezos. When Musk passed Bezos in net worth, the father of seven said hed send the Amazon founder a silver medal.

Amid his breakup, though, Musk has also sworn off many of his possessions and sold most of his mansions. He now lives in Texas where hell save billions on the Lone Star States lack of a personal income tax. Hes also moved Teslas corporate headquarters to the state.

The richest man in the worlddoes not own a house and has recently beenselling off his fortune,the magazinewrote in the profile of the businessman. He tosses satellites into orbit and harnesses the sun; he drives a car he created that uses no gas and barely needs a driver. With a flick of his finger, the stock market soars or swoons. An army of devotees hangs on his every utterance.

In April, SpaceXwon NASAsexclusive contractto return US astronauts to the moonfor the first time since 1972. Just a month later, the companys massive Starship rocket, which the billionaire intends to use to send people and cargo to Mars one day,launched and successfully landed for the first time. This marked a major achievement for SpaceX, which wants to make its rockets reusable to lower the cost of space exploration.

In May, while hosting Saturday Night Live, Musk announced he was making history as he revealed that he has the neurodevelopmental disorder Aspergers.

Im actually making history tonight as the first person with Aspergers to host SNL, or at least the first to admit it. So I wont make a lot of eye contact with the cast tonight. But dont worry, Im pretty good at running human in emulation mode, Musk said.

Musk found himself at the center of another pop culture moment after last month, when his ex released a song subtly shading him. The lyrics of Grimes latest track, titled Player of Games, mention being in love with the greatest gamer seemingly a nod to Musk, who is an avid PC gamer.

Im in love with the greatest gamer, Grimes sings. But hell always love the game more than he loves me.

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Elon Musk named Time Magazine's 2021 Person of the Year

SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the Axel Springer Award 2020 on December 01, 2020 in Berlin, Germany.

Britta Pedersen | Getty Images

Elon Musk's sale of $906 million in Tesla stock Monday brings him one step closer to his ultimate sales goal. The big question: what is the goal?

Based on his November Twitter poll, Musk plans to sell 10% of his total Tesla shares. At the time, he owned just over 170 million shares, so theoretically he plans to sell about 17 million shares to fulfill his Twitter pledge.

As of Tuesday morning, he has sold a total of 11.9 million shares, according to InsiderScore/Verity. The sales have been spread over a dizzying 680 sales for a total of about $12.7 billion. Based on his 10% target, he would likely sell another 5 million shares which at Monday's closing price of around $966 would be more than $4.8 billion.

It could end up being more, however. Musk is making two kinds of stock sales one to pay taxes on his compensation package and the other for straight cash-outs, or "to-pocket" sales.

The main reason Musk is selling is to pay the taxes on the exercise of options that expire next summer. As part of a 2012 compensation package, the Tesla CEO was given options on 22.8 million shares that expire next August. The options were valued at more than $28 billion when Musk started selling shares, which means his tax bill would have been as high as $15 billion.

The stock has since fallen more than 20%, along with his tax bill. According to InsiderScore/Verity, Musk has sold 6.5 million shares to cover the taxes on about 15 million options. To exercise all his options which is likely, since letting them expire leaves billions on the table Musk will likely exercise another 7.8 million options and sell a corresponding $4 billion or more to pay the taxes.

From a tax perspective, he likely has another four or five block sales of 934,000 shares (the amount sold in each of the last tax-related sales) before he's done for the year.

The big unknown is how many additional shares he might sell for cash or "to-pocket" proceeds. So far, he has sold about 5.4 million shares for straight cash, not connected to his options exercises or taxes. If all his sales from here on out are tax related, he only has another $4 billion to sell. Yet if he continues to also sell for cash to help fund SpaceX or other ventures the number could go higher.

Based on his 10% target, Musk will likely only sell another $5 billion before the year is out. Yet if he has other cash plans or needs, the sales could rocket even higher.

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Elon Musk's stock sales could total $18 billion by the end of year - CNBC

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The CEO of rocket producer SpaceX and electric car maker Tesla, Elon Musk is changing the way the world moves. So much so that Time magazine has named him its Person of the Year for 2021.

He is reshaping life on Earth and possibly life off Earth, as well, Edward Felsenthal, Times editor-in-chief, said Monday on NBCs TODAY show.

Musk wears many hats, including inventor, executive and futurist roles that have paid him well. Elon Musks net worth is currently worth $297 billion, according to Forbes.

His worth shifted throughout of 2021. The entrepreneurs worth had increased by $25.6 billion overnight after Hertz announced they would be placing an order for 100,000 Telsa EVs for its fleet on Oct. 25.

Then, over the course of the week of Nov. 8, Musk lost $1 billion. The drop began after a tweet on Saturday, Nov. 6, in which he asked his followers if he should sell 10% of his Telsa stock. Once his fans said yes, he lost $50 billion when stock prices dropped. The subsequent loss came after he sold $5 billion in Telsa stock on Wednesday, Nov. 10.

Despite the ups and downs, Musk is still the richest man on and off the planet.

See: The Worlds 2,000 Billionaires Have More Wealth Than Almost 5 Billion People Combined

Elon Musk built his fortune by turning his vision into reality. Before he graduated from high school, Musk earned $500 for a computer game he created. He then went on to found a series of successful tech companies and sell them for a hefty profit. His early interest in technology evolved into a career that made him the wealthiest person in the world as of 2021.

Net Worth: $297 billion (as of Dec. 15, 2021)

Date of Birth: June 28, 1971

Primary Sources of Wealth: Entrepreneur, inventor, investor

Career Highlights: CEO of SpaceX and Tesla Motors

See the List: These 47 Billionaires Got Richer During The Pandemic

Elon Musk taught himself to program when he was a teenager living in his native South Africa. At the age of 17, he moved to Canada to attend Queens University, but he left after three years to attend the University of Pennsylvania. There, he earned a bachelors degree in economics. He later dropped out of a doctorate program and created his first company, Zip2 Corporation.

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Read More: Elon Musks Biggest Bets That Paid Off

In 1999, Musk sold Zip2 for $307 million in cash and $34 million in stock options. He went on to found the company X.com, which was later acquired by eBay for $1.5 billion in stock in 2002. That same year, Musk created SpaceX. The following year, he joined Tesla. Today, he owns 48% of SpaceX and 20% of Tesla.

Curious? Weird Things Top Billionaires Have in Common

Since 2002, the Elon Musk Foundation has given away $25 million, with the bulk of this amount going to nonprofit science and education programs. The foundation also has funded $75 million in grants. In addition to donations from his foundation, Musk has given money to groups like Wikimedia Foundation, Big Green and Future of Life Institute.

Musk, who is not known to be philanthropic, gave away $150 million directly to charities between January and April of 2021. According to Recode, that doubled all his previous outlays combined.

Giving Back: Jeff Bezos and 14 Other Wealthy People & Families Chipping In To Fund Education

As of July 2021, Musk sold off all his property. He resides in a $50,000 tiny house he rents from SpaceX.

Musk previously owned a 100-year-old house in northern California that he bought it for $23.364 million in 2017. His portfolio once showed six other homes in California. Those properties included a 20,000-square-foot house in Bel-Air that he bought for $17 million in 2012 and a 9,300-square-foot house that he paid $24.25 million for in 2016. After announcing that he would sell half his worldly possessions, Musk sold his six Southern California properties.

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This article originally appeared on GOBankingRates.com: How Much Is Elon Musk Worth After Being Named Times Person of the Year?

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How Much Is Elon Musk Worth After Being Named Times Person of the Year? - Yahoo Finance

Remember dogecoin?

The meme-inspired cryptocurrency skyrocketed as much as 23% on Tuesday after Elon Musk said Tesla would accept dogecoin as payment for some of its merchandise. It last traded 18.9% higher.

"Tesla will make some merch buyable with Doge & see how it goes," the electric auto maker's CEO said in a tweet.

Musk has frequently talked up dogecoin, calling it his favorite digital coin and mentioning it in an appearance on NBC's "Saturday Night Live."

Dogecoin was initially started as a joke by its creators Billy Markus and Jackson Palmer in 2013. It takes its branding from the Japanese shiba inu dog, which inspired the original "doge" meme.

Tweets from Musk and surging interest from a wave of amateur investors fueled a speculative frenzy in the cryptocurrency earlier this year, driving its price higher.

Dogecoin went from being worth just a fraction of a penny at the start of the year to notching a record-high price above 74 cents in May. It has since plummeted sharply at just 20 cents a coin, the token is down more than 70% from its all-time high.

Some crypto investors say dogecoin is a phenomenon similar to "meme stocks" like GameStop and AMC and shouldn't be taken seriously.

"I'm actually not convinced ... that dogecoin is good for the crypto market," Brad Garlinghouse, CEO of crypto firm Ripple, told CNBC last month.

Dogecoin recently found a rival in shiba inu, a so-called meme token that bills itself as a "dogecoin killer." Shiba inu is currently the 13th-biggest coin by market value, having briefly surpassed dogecoin at one point.

Disclosure: NBCUniversal is the parent company of CNBC and NBC, which broadcasts "Saturday Night Live."

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Dogecoin spikes more than 20% after Elon Musk says Tesla will accept it as payment for merch - CNBC

Elon Musk has long dreamed of taking people to Mars and leaving them there (he says he'll build a habitat) and has hinted on and off about these plans for years. A recent Tweet from Musk, in passing, referred again to his Mars plan, setting off yet another flurry of people interested in the Red Planet. Can we, or can't we? When should we pack our bags for otherworldly habitation?

According to the man himself, SpaceX should be capable of taking a crew to Mars in 2026. And that's the first step, isn't it? Although NASA's plans for Mars are less solid, the space agency has been increasingly looking for outside partners to help speed up the development of space tech. So, innovations by these private firms could easily change timelines in unpredictable ways, opening up opportunities for all sorts of people, including real estate investors.

Image source: Getty Images.

It's not enough to simply wish a thing to be so. We have to have the paperwork to prove we own our own little Martian cabanas; otherwise, it's just chaos. So, does Elon own Mars...or what's the deal there?

A company called Lunar Embassy claims to be the legitimate owner of everything in the solar system. In the early 1980s, Dennis Hope filed a claim for ownership of all the moons and planets (besides Earth) in our solar system. Invoking the 1967 International Space Treaty and the Homestead Act of 1862, he convinced the recorder's office in San Francisco to formally record his claim.

He wrote several formal letters to the United Nations, with no response, explaining his intent to subdivide and sell these pieces of real estate. In 2004, he formed a government body of sorts, called the Galactic Government, and ratified all the documents necessary through the United States Government to provide the Galactic Government with a formal constitution, a Congress, currency, and a patent office.

The Lunar Embassy has been selling pieces of the Moon and other heavenly bodies for close to 40 years now, with NASA and the UN's knowledge, and over six million people have bought claims in space. Until recently, this ownership conundrum hasn't really been a problem since no one was going to planets or moons anyway.

But with the new commercial incentives to go to space, well, we're going to need to figure this out quickly because NASA absolutely has plans to build habitable bases on the Moon and Mars. Although plans for Mars are less solid, building basic habitats on the Moon could happen as soon as 2030, according to NASA's own assessment.

Let me first say that there are zero guarantees that you'll actually be able to access your space real estate in your lifetime, so realize that investing in space is a very long game. If you want to take a chance and buy some real estate from Lunar Embassy, well, you can go and register the random parcels you think might hit at any time, assuming their ownership stake holds as people actually make it to Mars and the Moon.

I personally don't believe their stakeholders will end up having legitimate claims because of the very method they used to claim all this land. The Homestead Act of 1862 required that an owner claiming a homestead actually use the land within five years. Also, it was repealed in 1976.

Now, on the other hand, if Elon Musk takes humanity to Mars, he or someone in his organization will find a way to make a bunch of money off of it. Condos within a Martian habitat feel like something that would be his style and easy to deed to a prospective buyer. There's literally no one there on the planet to contest the property claim.

If you're interested in buying space real estate, simply wait for one of the dozen or so companies heading out to commercialize space to get their Moon or Martian developments planned, and then buy in as soon as an offering appears. Another option would be to invest in the companies going to space, a few of which are publicly traded.

That's the real question. For a variety of reasons, I firmly believe that an investment in space is a far more solid investment than one in the metaverse.

First, space is cool. There's no one contesting that.

Second, space is full of natural resources, like gold and other useful and rare metals and minerals.

Third, a lot of commercial operations are eyeing space pretty hard right now, and their next logical step from a floating space business park is a business park secured to a surface. After all, you must have somewhere from which to direct all the mining and whatnot that will be happening.

Space real estate is definitely going to be more office and industrial than residential, at least for now, but both property types have long, solid track records here on Earth. We tend to export what we understand, and a way of making money has to go before a substantial population can appear.

I don't know whether we'll be living on other planets, but I do know that NASA is partnering with lots of capitalists right now. That's often a springboard to innovation due to the sheer amount of capital that suddenly gets freed up for STEM (science, technology, engineering, and mathematics) in these kinds of situations, as well as the spark of real estate booms as heavy industrial activity is initiated.

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Elon Musk Is Headed for Mars: Will Space Real Estate Be a Good Investment? - The Motley Fool

Some of the Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) knockoffs are seeing strong gains as of Monday night even as Dogecoin and Shiba Inu fell.

What Happened: 2030 Floki (CRYPTO: 2030FLOKI), named after Tesla Inc. (NASDAQ:TSLA) CEO Elon Musks pet dog Floki, is up 493.8% during the past 24 hours, trading at $0.00000005429 at press time. The coin has surged 520.1% against Bitcoin and also gained 527.49% against Ethereum.

Among the other knockoff coins, King Shiba (CRYPTO: KINGSHIB) has surged 80.1% during the past 24 hours to $0.03793 and Saint Inu (CRYPTO: SAINT) has gained 63.0% during the period to $0.000007855.

MetaDoge (CRYPTO: METADOGE) is up 32.4% over the 24-hour period to $0.00008879 and is trending in the top spot among all cryptocurrencies on CoinMarketCap.

For comparison, Dogecoin is down 5.3% during the past 24 hours, trading at $0.1567 at press time. Shiba Inu, the self-described Dogecoin killer, has lost 7.7% over the past 24 hours to $0.0000329.

See Also: How To Buy Dogecoin (DOGE)

Why It Matters: 2030 Floki describes itself as a smart AI rebase and reward token on the Binance Smart Chain (BSC) that passively awards holders Dogecoin.

The coin, which touched an all-time high of $0.00000006972 earlier on Monday, noted on Twitter that more people are buying the token.

King Shiba is a token on the BSC that describes itself as the true king of all Shiba tokens.

The coin noted on Twitter that it is the top gainer on the Gate cryptocurrency exchange.

Saint Inu says it building a charity crypto platform. The project behind the platform plans to launch a gaming platform that will utilize P2D (Play to Donate) and P2E (Play to Earn) games.

MetaDoge describes itself as a memecoin plus utility in the crypto sphere. The coin, which touched an all-time high of $0.00009524 on Monday, noted on Twitter that it broke a new all-time high despite the cryptocurrency market being in the red.

Read Next: Why Elon Musk Thinks Dogecoin Is Better For Transactions Than Bitcoin

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This Coin Named After Elon Musk's Pet Floki Is Up 493% Today Even as Dogecoin and Shiba Inu Slump - Benzi - Benzinga

The worlds richest man said he might be ready for a pivot. Tesla CEO Elon Musk tweeted on Thursday that he is in his words - thinking of leaving his jobs.

Instead, he said he would like to become an influencer, which the Twitter-happy CEO is already sort of doing with his flock of nearly 66 million followers.

Of course, it's not immediately clear whether he was being serious. After all, back in January, he said over a conference call that he expects to be in the drivers seat at Tesla for quote - several years. But in addition to helming the electric vehicle maker, Musk also heads the infrastructure firm The Boring Company, the rocket launch service company SpaceX, and brain-chip startup Neuralink.

He has run afoul of regulators in the past with his erratic behavior on social media. Three years ago, he tweeted that he was considering taking Tesla private and had secured funding, sending the stock sharply higher. But no deal emerged. The Securities and Exchange Commission then sued him. In a settlement, Tesla agreed to have its lawyers vet Musks tweets that are financially sensitive.

Most recently, he polled his followers to see if he should sell 10% of his Tesla stake. A majority agreed. Securities filings showed on Thursday he sold another batch of shares worth just under $1 billion. He has been selling shares to pay for taxes on the exercise of stock options.

Tesla investors sent shares south in early Friday trading.

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Elon Musk says he is thinking of quitting his job

Elon Musk could become a trillionaire. Here's what that means.

Elon Musk could become the world's first trillionaire. Here's what that means.

Staff video, USA TODAY

Business mogul Elon Musk is more concerned with under-population than over-population. The Tesla CEO said Monday that there are "not enough people" in the world and it could threaten human civilization.

"I think one of the biggest risks to civilization is the low birth rate and the rapidly declining birthrate," Musk said attheWall Street Journal'sannualCEO Council. The 50-year-old was answering a question about how the proposed Tesla Bot could solve some of the world's labor issues. Musk had previously called the bot a "generalized substitute for human labor over time."

"And yet, so many people, including smart people, think that there are too many people in the world and think that the population is growing out of control. It's completely the opposite. Please look at the numbers if people don't have more children, civilization is going to crumble, mark my words."

Birthrate:Americans want more babies in their lives. Biden's subsidized child care won't help that.

Was he playing the market?:Elon Musk follows through on Twitter promise, sells $1.1B in Tesla stock.

The Tesla Bot is Musk's"humanoid robot" that he plans to have built by using Tesla's self-driving car artificial intelligence. The bot could have the capability of deadlifting up to 150 pounds and traveling at around 5 m.p.h.

The global birthrate has been on a steady decline since 1960, according to World Bank.TheU.S.birthrate fell by 4% in 2020a record lowaccording to the Centers for Disease Control.

Musk, a father of six, added in the same interview that while he believes population growth is ideal, how long people live is a different story. He said in regards to aging that people shouldn't "try to live for a super long time."

"I think it is important for us to die because most of the times, people don't change their mind, they just die," he said."If they live forever, then we might become a very ossified society where new ideas cannot succeed."

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Elon Musk says there aren't 'enough people,' birthrate could threaten human civilization - USA TODAY

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Elon Musk, the richest person on the planet, who just tweeted he was thinking about quitting his job, made headlines this week when he criticized the governments effort to encourage electric-vehicle adoption, including clauses in the Build Back Better Act. The criticism was viewed by many as a way to signal Teslas maturity and success.

See: Tesla Tops Delivery Expectations Despite Global Supply Chain IssuesFind: Experts Say SpaceX Might Make Musk a Trillionaire, But Tesla Just Boosted His Worth $25 Billion

Thinking of quitting my jobs & becoming an influencer full-time wdyt, Musk tweeted on Dec. 9.

However, its his other company, SpaceX, that seems to be giving him more trouble. Speaking remotely at the Wall Street Journals CEO Conference, Musks remarks on how difficult a task its been to develop Starship the next-generation vehicle the company plans to use to take humans to the Moon and Mars sounded a lot like Teslas early difficulties with the Model 3, Bloomberg reported.

Starship absorbs more of my mental energy than probably any other single thing, Musk said Monday, according to Bloomberg. It is so preposterously difficult, there are times where I wonder whether we can actually do this.

In November, Space Explored reported an email Musk sent to employees in which he said that what it comes down to, is that we face a genuine risk of bankruptcy if we cant achieve a Starship flight rate of at least once every two weeks next year.

See: Elon Musks SpaceX Valuation Hits $100 Billion, Becomes Second Most-Valuable Private Company WorldwideFind: 10 Productivity Tips From Elon Musk That Can Put You on the Road to Success

Space Explored reported that Musk had planned to take a break over Thanksgiving weekend, but Raptor production issues changed that:

Unfortunately, the Raptor production crisis is much worse than it had seemed a few weeks ago. As we have dug into the issues following the exiting of prior senior management, they have unfortunately turned out to be far more severe than was reported. There is no way to sugarcoat this, he said in the email. I was going to take this weekend off, as my first weekend off in a long time, but instead, I will be on the Raptor line all night and through the weekend.

In contrast, Tesla has been on a tear this year, from exceeding deliveries despite chip shortages and supply chain disruptions, to its stock soaring, bringing the company to a $1 trillion market cap. In turn, Musk said earlier this month that he would participate in Teslas fourth-quarter earnings call to take place in January 2022 following his statement, made in July, that he would not be on the calls anymore unless theres something really important that I need to say.

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Yal Bizouati-Kennedy is a former full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She also worked as a vice president/senior content writer for major NYC-based financial companies, including New York Life and MSCI. Yal is now freelancing and most recently, she co-authored the book Blockchain for Medical Research: Accelerating Trust in Healthcare, with Dr. Sean Manion. (CRC Press, April 2020) She holds two masters degrees, including one in Journalism from New York University and one in Russian Studies from Universit Toulouse-Jean Jaurs, France.

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Elon Musk, Happy With Tesla, Says SpaceX So Difficult, 'I Wonder Whether We Can Do This' - GOBankingRates

Elon Musk is the CEO of two companies, Tesla and SpaceX but if you ask him, his role as chief executive is essentially just "a made-up title."

That's the somewhat philosophical reply Musk offered at The Wall Street Journal's CEO Council Summit on Monday, when asked whether he'd consider stepping into another role at Tesla in the coming years. The only consequential titles at a large company, Musk responded, are "president, secretary and treasurer," because those positions are required for Internal Revenue Service paperwork.

"All of these other titles are just basically made up," Musk mused, ultimately avoiding the question. "So CEO is a made-up title, CFO is a made-up title, general counsel...They don't mean anything."

As a further example of how little stock he puts in the "CEO" title, Musk noted that he changed his title to "Technoking of Tesla" in a March regulatory filing. "I'm legally 'Technoking,'" he said. "I just did that as kind of, like, a joke just to show that these titles don't mean a lot."

Musk became Tesla's chairman in 2004, a year after the company was founded, and assumed the role of CEO in 2008. He held both titles for a decade before stepping down as chairman in 2018 for a three-year period, to settle fraud charges with the U.S. Securities & Exchange Commission. Those terms will expire this year.

In a January quarterly earnings call, Musk complained about the rigors of his Tesla CEO role.

"The sheer amount of work required to be CEO of Tesla is insane," he said. "It would be nice to have a bit more free time on my hands as opposed to just working day and night from when I wake up to go to sleep seven days a week. It's pretty intense."

That wasn't his first time complaining. Last year, Musk noted that he "really didn't want to be CEO" of Tesla from the beginning. In 2018, he said the job's "insane stress" made him "somewhat impulsive," causing him to work 120-hour weeks and sleep on a factory floor to help Tesla meet production deadlines.

Still, his current status as the world's richest person with a net worth of $267 billion, according to Bloomberg is partially due to Tesla's market valuation of $1.05 trillion.

In the January earnings call, Musk stated his belief that "nobody is or should be CEO forever." But, he said, he expected to keep running Tesla "for several years" to come.

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Elon Musk: CEO is a 'made-up title,' so he's Tesla's 'Technoking' instead - CNBC