15 ms·

Where does elon find money for all his ideas? He seems to innovate at breathtaking pace.

by newsat13 9y ago

donatj 9y ago
Well he's worth an estimated 15 billion, a lot of which if I understand is from his involvement with PayPal
- JackFr 9y ago
  Which of course makes the line from TFA 'Elon Musk, a man of means by no means,...' make no sense. I get that it was presumably a reference to the song 'King of the Road', but since the rest of the story had nothing to do with being a hobo, I'm unsure of the author's intent.
- Robotbeat 9y ago
  Almost none of it is from Paypal any longer (except as seed money for other ventures). He got about half a (EDIT: significantly less than a quarter) billion from Paypal and invested it split into Tesla and SpaceX. I think he owns most of (or close to most of) SpaceX, which is worth at least $10B, plus a bunch of shares of Tesla (but definitely not near half), which is worth over $50B. So I'd say his networth now comes from (very) roughly 50:50 Tesla and SpaceX. Paypal money is long gone. He borrows money against his shares to fund projects like this without diluting control.
  - acover 9y ago
    He got about a quarter of a billion. He almost went bankrupt in ~2008. Edit: my correction of a correction needs to be corrected > In October 2002, PayPal was acquired by eBay for US$1.5 billion in stock, of which Musk received US$165 million. https://en.m.wikipedia.org/wiki/Elon_Musk https://en.m.wikipedia.org/wiki/Elon_Musk
- deleted 9y ago
  [deleted]
- danderino 9y ago
  No barely any of it is from Paypal. Paypal was sold in 2002 for like 1.5 billion to Ebay, and Musk had like 10% of the shares. He does however own something like 25% of Tesla. Thats about 12.5 billion.
deleted 9y ago
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clydethefrog 9y ago
If you do not pay your workers you keep more money. https://www.inverse.com/article/31478-spacex-settles-underpaid-workers-lawsuit-for-4-million https://www.inverse.com/article/31478-spacex-settles-underpa...

Where does elon find money for all his ideas? He seems to innovate at breathtaking pace.

donatj 9y ago

Well he's worth an estimated 15 billion, a lot of which if I understand is from his involvement with PayPal

JackFr 9y ago
Which of course makes the line from TFA 'Elon Musk, a man of means by no means,...' make no sense. I get that it was presumably a reference to the song 'King of the Road', but since the rest of the story had nothing to do with being a hobo, I'm unsure of the author's intent.
Robotbeat 9y ago
Almost none of it is from Paypal any longer (except as seed money for other ventures). He got about half a (EDIT: significantly less than a quarter) billion from Paypal and invested it split into Tesla and SpaceX. I think he owns most of (or close to most of) SpaceX, which is worth at least $10B, plus a bunch of shares of Tesla (but definitely not near half), which is worth over $50B. So I'd say his networth now comes from (very) roughly 50:50 Tesla and SpaceX. Paypal money is long gone. He borrows money against his shares to fund projects like this without diluting control.
- acover 9y ago
  He got about a quarter of a billion. He almost went bankrupt in ~2008. Edit: my correction of a correction needs to be corrected > In October 2002, PayPal was acquired by eBay for US$1.5 billion in stock, of which Musk received US$165 million. https://en.m.wikipedia.org/wiki/Elon_Musk https://en.m.wikipedia.org/wiki/Elon_Musk
deleted 9y ago
[deleted]
danderino 9y ago
No barely any of it is from Paypal. Paypal was sold in 2002 for like 1.5 billion to Ebay, and Musk had like 10% of the shares. He does however own something like 25% of Tesla. Thats about 12.5 billion.

deleted 9y ago

[deleted]

clydethefrog 9y ago

If you do not pay your workers you keep more money. https://www.inverse.com/article/31478-spacex-settles-underpaid-workers-lawsuit-for-4-million https://www.inverse.com/article/31478-spacex-settles-underpa...