Featured Image Credit: Liesa Johannssen-Koppitz/Bloomberg via Getty Images
Elon Musk has revealed just how much of his whopping $850 billion net worth he actually has in cash and it’s not what you might expect.
The tech mogul is the richest man in the world and is well on his way to becoming the first trillionaire in history, but how much cash does he actually have in the bank?
A lot of Musk’s money comes from the value of his businesses including the likes of Tesla and SpaceX.
Surprisingly, the billionaire lives a fairly modest life - considering his vast wealth - as he is reported to reside in a small home worth just $50,000 in Texas.
Advert
So, is Musk actually strapped for cash or is he just frugal with his funds? Well, the entrepreneur has revealed how much money he really has at his disposal.
Taking to his own social media platform X, formerly Twitter, Musk wrote a post claiming that he is actually quite cash poor.
He said: “Already have thousands of times over. My ‘net worth’ is almost entirely due to my ownership stakes in Tesla and SpaceX. I have <0.1% that is cash.
“Tesla and SpaceX employees all receive stock/options and Tesla is >80% owned by retail investors and index/pension funds, so value increases apply >80% to them.”
Musk previously posted about his house after he sold his entire property portfolio.
He said: “My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX.
“It’s kinda awesome though. Only house I own is the events house in the Bay Area.
“If I sold it, the house would see less use, unless bought by a big family, which might happen some day.”
In a 2022 podcast interview with Full Send, he added that his smaller home is ‘right next to the rocket factory’, so he could just ‘literally walk’ to the factory whenever he needed.
“When friends come to stay in it, they can’t believe I live in this house... I find if I am by myself, it is fine,” Musk continued.
He also told Joe Rogen that building a house, even a ‘really great house’, is not a good allocation of his time in comparison to ‘getting us to Mars and helping solve sustainable energy’.
Musk decided to move into a 375-square-foot prefabricated home made by startup Boxabl, which cost around $50,000.
This compact ‘Casita’ model is supposedly designed for portability and affordability, with a living area, kitchen, bathroom, and bedroom.
