AUSTIN | Economic Development

[ROCrot]

Originally Posted by Jdawgboy

He might live here, some of the time I wager, but he is not nor will ever be an Austinite. Why anyone needs to have that much wealth for himself is beyond any moral and ethical reasoning. Disgusting IMO.

Apparently you don't realize (or care) that almost all of that wealth is just paper wealth, tied up in the stocks of a very small number of companies, and not actually available for him to spend or give away.

Meanwhile, there are other multi-multibillionaires who spend their time and money having the biggest yachts mankind has ever seen built for them, along with establishing palaces all over the world, with some even buying themselves private islands to house their compounds.

There's a very good chance that he has far less cash money available, and far fewer toys to his name, than 95% of the 100 wealthiest people in the world.

[austlar1]

Originally Posted by ROCrot

Apparently you don't realize (or care) that almost all of that wealth is just paper wealth, tied up in the stocks of a very small number of companies, and not actually available for him to spend or give away.

Meanwhile, there are other multi-multibillionaires who spend their time and money having the biggest yachts mankind has ever seen built for them, along with establishing palaces all over the world, with some even buying themselves private islands to house their compounds.

There's a very good chance that he has far less cash money available, and far fewer toys to his name, than 95% of the 100 wealthiest people in the world.

According to Gemini, Musk has repeatedly stated that less than 0.1% of his total net worth is held in liquid cash or bank accounts. Because his vast wealth fluctuates based on market performance, his actual "walking around money" changes dynamically but follows a strict structural breakdown:Estimated Cash Balance: Based on his net worth, his liquid cash reserves generally hover under $850 million.The "Paper Billionaire" Reality: While $850 million is an astronomical sum for an ordinary person, it is a microscopic fraction of his overall wealth. It means over 99.9% of his fortune is completely locked up in his companies.Early Divestments: He did secure early liquid payouts from the sales of Zip2 and PayPal in the late 1990s and early 2000s, but he famously rolled almost all of that cash directly into founding Tesla and SpaceX.Why He Doesn't Keep a Cash StockpileInstead of maintaining a massive pool of cash, Musk relies on standard ultra-wealthy financial strategies to fund his life and new business ventures:Collateralized Loans: When Musk needs significant capital, he frequently borrows money from banks against his shares rather than selling them. This allows him to avoid heavy capital gains taxes and maintain absolute control over his companies.Forced Liquidations: When he has sold massive chunks of stock in the past—most notably liquidating billions in Tesla stock to fund his $44 billion acquisition of Twitter (now X)—the money did not go into a bank account. It was immediately transferred to finalize the purchase, leaving his personal liquidity virtually unchanged.