Well for one thing you're downplaying several massive, global businesses.
PayPal is a $25b sales, $4b operating income giant in the financial sector (payments / payment processing specifically). They have an $83b market cap and have sales equivalent to Germany's largest bank. Musk doesn't own a meaningful part of PayPal, it plays no role in his present wealth (other than he sold his ownership stake in PayPal to fund the early days of Tesla & SpaceX).
Tesla is very obviously overvalued by a lot (by $400b-$600b at least), there's no rational argument against that. However being a major owner of BMW, which is perhaps what Tesla is best compared to in size and profitability now, is still a rather dramatic financial position to have (obviously). If we (when the market does) adjust Tesla to a more rational valuation, Musk would be a lot less rich, but still among the ~20-30 richest on the planet. Owning 16% of a segment-leading, tech-leading, growing car company that generates $12-$14b in operating income, is a very good business to be sitting on.
SpaceX is a lot more than a very good rocket company. Their connectivity business will likely be worth tens of billions of dollars in the future. No other entity on Earth can presently match what they've accomplished in rocketry and satellites, that includes China, the US Government, Russia, or their corporate peers. The connectivity network they're building is exceptional and very, very difficult (and expensive) for others to compete with. The value of their ability to deploy zillions of satellites rapidly, will increase dramatically as more uses are figured out for such constellations (the US Government in particular).
> Owning 16% of a segment-leading, tech-leading, growing car company that generates $12-$14b in operating income, is a very good business to be sitting on.
Every rational thinking person sees Musk and his behavior and throws any financial statement produced by Tesla straight into the bin.
They are cooking the books 100%. Musk believes in manifestation, self-fulfilling prophecy and faking it till you make it.
In the early days of PayPal he'd order to get parts of old fridges, paint them black in order to convince investors that PayPal had "supercomputers"
PayPal is a $25b sales, $4b operating income giant in the financial sector (payments / payment processing specifically). They have an $83b market cap and have sales equivalent to Germany's largest bank. Musk doesn't own a meaningful part of PayPal, it plays no role in his present wealth (other than he sold his ownership stake in PayPal to fund the early days of Tesla & SpaceX).
Tesla is very obviously overvalued by a lot (by $400b-$600b at least), there's no rational argument against that. However being a major owner of BMW, which is perhaps what Tesla is best compared to in size and profitability now, is still a rather dramatic financial position to have (obviously). If we (when the market does) adjust Tesla to a more rational valuation, Musk would be a lot less rich, but still among the ~20-30 richest on the planet. Owning 16% of a segment-leading, tech-leading, growing car company that generates $12-$14b in operating income, is a very good business to be sitting on.
SpaceX is a lot more than a very good rocket company. Their connectivity business will likely be worth tens of billions of dollars in the future. No other entity on Earth can presently match what they've accomplished in rocketry and satellites, that includes China, the US Government, Russia, or their corporate peers. The connectivity network they're building is exceptional and very, very difficult (and expensive) for others to compete with. The value of their ability to deploy zillions of satellites rapidly, will increase dramatically as more uses are figured out for such constellations (the US Government in particular).