5 ms·

Everyone knows Elon Musk’s father owned a emerald mine in Zambia. The only person who denies it is Elon.

inemesitaffia 3y ago
There's no evidence of actual ownership
friend_and_foe 3y ago
Musk has a million dogecoin bounty for anyone who can prove that claim. There are interviews with his dad where his dad says basically he bought some emeralds from an Italian guy who was chiseling them from a rock in the ground. That's a far cry away from an emerald mine fortune, when I think "emerald mine" I think John of God level fortunes, and they used what money they made to move out of South Africa. From my understanding they were middle class at best.
- rr2841 3y ago
  I find entertaining the show of cynicism when Musk himself started the rumour about the emerald mine [0]: > Elon Musk: "... In South Africa, my father had a private plane we’d fly in incredibly dangerous weather and barely make it back. This is going to sound slightly crazy, but my father also had a share in an Emerald mine in Zambia." Musk's father gave an interview [1] where he explains what the mine business was about. He also shares that he had to sell his "ocean going yatch" to send his family money overseas. Musk is not a trust fund baby, but he wasn't coming from middle class either. [0] https://web.archive.org/web/20140729222547/http://www.forbes.com/sites/jimclash/2014/07/28/elon-musk-tells-me-his-secret-of-success-hint-it-aint-about-the-money/ https://web.archive.org/web/20140729222547/http://www.forbes... [1] https://www.the-sun.com/news/7911051/elon-musks-dad-errol-emerald-business/ https://www.the-sun.com/news/7911051/elon-musks-dad-errol-em...
  - friend_and_foe 3y ago
    A private plane is not a private jet, and a sailboat is not the Fulk al Salama. I'd bet the private plane was a little cesna and the "ocean going yacht" was probably a medium sized sailboat or catamaran. Rich? I suppose, but not wealthy. Upper middle class maybe.
    - rewmie 3y ago
      > A private plane is not a private jet (...) https://www.the-sun.com/news/8014711/elon-musk-dad-errol-chance-meeting-disputed-emerald-mine/ https://www.the-sun.com/news/8014711/elon-musk-dad-errol-cha... Elon Musk stans are something else. The loops they jump through to convince themselves that the teenager who was walking around with emerald from his family's mine in his pockets was not a rich privileged kid are out of this world. https://www.news24.com/news24/bi-archive/elon-musk-sells-the-family-emeralds-in-new-york-2018-2 https://www.news24.com/news24/bi-archive/elon-musk-sells-the... It's perfectly fine if you want to idolize a rich kid who multiplied his family's fortune, but let's keep it grounded.
      - Turing_Machine 3y ago
        > convince themselves that the teenager who was walking around with emerald from his family's mine in his pockets was not a rich privileged kid Most emeralds (and other precious stones, too, but especially emeralds) that come out of the ground are essentially worthless. https://www.amazon.com/Gemhub-Quality-Emerald-Natural-Wrapped/dp/B07NPQ2CR7 https://www.amazon.com/Gemhub-Quality-Emerald-Natural-Wrappe... There you go. Now you, too, can "walk around with emeralds in your pocket". 12 bucks.
        rewmie 3y ago
        > Most emeralds (and other precious stones, too, but especially emeralds) that come out of the ground are essentially worthless. As the legend goes, a 16 year old Elon walked into Tiffany's with two emeralds in his pocket which he sold for around $2k only to learn that they were worth 30 times that value. You can Google for the references if you'd like.
- whatscooking 3y ago
  Middle class does not exist in South Africa. Look up their Gini index. If you think wealth inequality in the U.S. is bad, it’s 10 times worse in South Africa
Turing_Machine 3y ago
Everyone who knows anything at all about mining knows that "owning a mine" (any kind) says nothing whatsoever about the wealth of the owner. It's quite common to put more money into the ground than you ever get back out. I've known several gold mine owners over the years. To be blunt: none of them had a pot to piss in. Some of them made enough to get by, but that's it. Others had to subsidize their mines by working in town part of the year.
- sharts 3y ago
  Takes money to buy mines. Whether that was a good/bad investment isn’t the point.
  - Turing_Machine 3y ago
    Not much. In the U.S. you can just file a claim. There are processing fees, etc., but those aren't that much. Or you can buy one that someone else has claimed and not have to do all the paperwork. Ten gold mining claims for sale, right here. All filed and proved up. US$12k each. https://hopemining.com/claims/six-mile-claims/ https://hopemining.com/claims/six-mile-claims/ There are hundreds of others. Perhaps things are different in South Africa, but I seriously doubt it.

There's no evidence of actual ownership

Musk has a million dogecoin bounty for anyone who can prove that claim. There are interviews with his dad where his dad says basically he bought some emeralds from an Italian guy who was chiseling them from a rock in the ground. That's a far cry away from an emerald mine fortune, when I think "emerald mine" I think John of God level fortunes, and they used what money they made to move out of South Africa. From my understanding they were middle class at best.

rr2841 3y ago
I find entertaining the show of cynicism when Musk himself started the rumour about the emerald mine [0]: > Elon Musk: "... In South Africa, my father had a private plane we’d fly in incredibly dangerous weather and barely make it back. This is going to sound slightly crazy, but my father also had a share in an Emerald mine in Zambia." Musk's father gave an interview [1] where he explains what the mine business was about. He also shares that he had to sell his "ocean going yatch" to send his family money overseas. Musk is not a trust fund baby, but he wasn't coming from middle class either. [0] https://web.archive.org/web/20140729222547/http://www.forbes.com/sites/jimclash/2014/07/28/elon-musk-tells-me-his-secret-of-success-hint-it-aint-about-the-money/ https://web.archive.org/web/20140729222547/http://www.forbes... [1] https://www.the-sun.com/news/7911051/elon-musks-dad-errol-emerald-business/ https://www.the-sun.com/news/7911051/elon-musks-dad-errol-em...
- friend_and_foe 3y ago
  A private plane is not a private jet, and a sailboat is not the Fulk al Salama. I'd bet the private plane was a little cesna and the "ocean going yacht" was probably a medium sized sailboat or catamaran. Rich? I suppose, but not wealthy. Upper middle class maybe.
  - rewmie 3y ago
    > A private plane is not a private jet (...) https://www.the-sun.com/news/8014711/elon-musk-dad-errol-chance-meeting-disputed-emerald-mine/ https://www.the-sun.com/news/8014711/elon-musk-dad-errol-cha... Elon Musk stans are something else. The loops they jump through to convince themselves that the teenager who was walking around with emerald from his family's mine in his pockets was not a rich privileged kid are out of this world. https://www.news24.com/news24/bi-archive/elon-musk-sells-the-family-emeralds-in-new-york-2018-2 https://www.news24.com/news24/bi-archive/elon-musk-sells-the... It's perfectly fine if you want to idolize a rich kid who multiplied his family's fortune, but let's keep it grounded.
    - Turing_Machine 3y ago
      > convince themselves that the teenager who was walking around with emerald from his family's mine in his pockets was not a rich privileged kid Most emeralds (and other precious stones, too, but especially emeralds) that come out of the ground are essentially worthless. https://www.amazon.com/Gemhub-Quality-Emerald-Natural-Wrapped/dp/B07NPQ2CR7 https://www.amazon.com/Gemhub-Quality-Emerald-Natural-Wrappe... There you go. Now you, too, can "walk around with emeralds in your pocket". 12 bucks.
      - rewmie 3y ago
        > Most emeralds (and other precious stones, too, but especially emeralds) that come out of the ground are essentially worthless. As the legend goes, a 16 year old Elon walked into Tiffany's with two emeralds in his pocket which he sold for around $2k only to learn that they were worth 30 times that value. You can Google for the references if you'd like.
whatscooking 3y ago
Middle class does not exist in South Africa. Look up their Gini index. If you think wealth inequality in the U.S. is bad, it’s 10 times worse in South Africa

Turing_Machine 3y ago

Everyone who knows anything at all about mining knows that "owning a mine" (any kind) says nothing whatsoever about the wealth of the owner. It's quite common to put more money into the ground than you ever get back out. I've known several gold mine owners over the years. To be blunt: none of them had a pot to piss in. Some of them made enough to get by, but that's it. Others had to subsidize their mines by working in town part of the year.

sharts 3y ago
Takes money to buy mines. Whether that was a good/bad investment isn’t the point.
- Turing_Machine 3y ago
  Not much. In the U.S. you can just file a claim. There are processing fees, etc., but those aren't that much. Or you can buy one that someone else has claimed and not have to do all the paperwork. Ten gold mining claims for sale, right here. All filed and proved up. US$12k each. https://hopemining.com/claims/six-mile-claims/ https://hopemining.com/claims/six-mile-claims/ There are hundreds of others. Perhaps things are different in South Africa, but I seriously doubt it.