Billionaire Elon Musk named Time's Person of the Year for 2024.

Tech Billionaires: Elon Musk

"Our generation has seen incredible advancements in technology. For that, we can thank one of the most successful, influential and notorious entrepreneur of the 21st century. Elon Musk, the mind behind PayPal, founder of Tesla, and SpaceX. The 2nd richest man in the world after Amazon founder Jeff Bezos, with an estimated net worth of $260.5B billion USD. He is the ambitious genius, intellectual and eccentric tech billionaire who shook the entire world with groundbreaking inventions. After creating space rockets, electric cars, solar batteries, and robots, his astounding success puts him on top of the rank of the world's wealthiest men."

• Elon Musk cofounded six companies, including electric car maker Tesla, rocket producer SpaceX and tunneling startup Boring Company.
• He owns about 12% of Tesla excluding options, but has pledged more than half his shares as collateral for personal loans of up to $3.5 billion.
• In early 2024, a Delaware judge voided Musk's 2018 deal to receive options equaling an additional 9% of Tesla. Forbes has discounted the options by 50% pending Musk's appeal.
• SpaceX, founded in 2002, is worth nearly $180 billion after a December 2023 tender offer of up to $750 million; SpaceX stock has quintupled its value in four years.
• Musk bought Twitter in 2022 for $44 billion, after later trying to back out of the deal. He owns an estimated 74% of the company, now called X.
• Forbes estimates that Musk's stake in X is now worth nearly 70% less than he paid for it based on investor Fidelity's valuation of the company as of December 2023.

Summarized Elon Musk’s ventures and financial moves quite well! Here’s a concise breakdown:

1. Tesla:

• Cofounded by Musk.
• Owns about 12% of Tesla (excluding options).
• Pledged over half his shares as collateral for personal loans up to $3.5 billion.
• 2018 options deal voided by a Delaware judge in early 2024; Forbes discounted these options by 50% pending appeal.

2. SpaceX:

• Founded in 2002.
• Valued at nearly $180 billion after a December 2023 tender offer.
• Stock value has quintupled in four years.

3. Boring Company:

• Another of Musk’s ventures focusing on tunneling.

4. Twitter (now X):

• Acquired in 2022 for $44 billion.
• Owns an estimated 74% of the company.
• Stake value estimated to have dropped nearly 70% based on Fidelity’s December 2023 valuation.

Musk’s diverse portfolio showcases his significant impact across various industries. Is there a particular aspect of his ventures that interests you more?