According to a filing made with the SEC yesterday (Wednesday 21 February, 2024), Elon Musk owns a 20.5 percent stake in Tesla.
Apparently, that stake is worth in excess of $120 billion.
Interestingly, though, it’s slightly below the 22 percent stake the Tesla CEO held before he started offloading stock to fund his $44 billion purchase of Twitter (now X).
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The filling says that the stake Elon Musk has in Tesla compromises of 411.06 million shares of Tesla common stock, as well as options to purchase 303.96 million shares that are exercisable with 60 days of December 31.
Musk has stated publicly that he hopes to gain a 25 percent stake in the EV company, as he wishes to have more influence over the company.
Not only that, but this would keep him incentivized to work on various projects underneath the Tesla brand, such as robotics and artificial intelligence.
“I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned,” Musk posted to X last month.
“Unless that is the case, I would prefer to build products outside of Tesla,” he added.
It’s worth noting, though, Musk’s huge ownership stake in Tesla had largely in part been driven by his 2018 compensation package, for which he has faced challenges in court.
The $55 billion pay package saw Elon Musk awarded tranches of company stock if he hit certain milestones in growing Tesla’s market capitalization.
The massive stake Elon Musk has in Tesla, combined with his ownership stakes in SpaceX and X, makes him the second richest person in the world behind Bernard Arnault.
Arnault is the CEO of LVMH, a conglomerate that controls a variety of luxury brands including Louis Vuitton, Tag Heuer, and Tiffany & Co.
Much like Musk’s with Tesla stock, Arnault’s net worth is tied to the performance of LVMH’s stock.
Arnault overtook Musk in January to become the world’s richest man – and it’s not the first time it’s happened.
Arnault has overtaken Musk twice before – the first time in the summer of 2023, and then a second time, in January.
What’s different now is that the other two times it was just by around a billion, whereas this time the margin is over $18 billion.
At the time of writing, Arnault has a net worth of $224.4 billion, while Musk has a net worth of $206 billion.
Some of the images for this article were created using AI.
