How Will Musk’s Twitter Acquisition Affect His Status as World’s Richest Person?
It’s a questionable investment, as his stake in Tesla has already taken a big hit
It’s not every day that an investor files a Schedule 13D with the Securities and Exchange Commission (SEC), indicating they’ve crossed a threshold and now own more than 5 percent of a company, and within three weeks has its bid for the entire company approved by the board of directors. But of course, Elon Musk is no ordinary investor — he’s the richest man in the world. How was he able to pull off his super-fast acquisition of Twitter, Inc? Is it a good investment? And what impact will it have on his overall wealth?
How Much is Musk Worth?
According to Forbes, the day after Musk’s April 25, 2022 bid for Twitter was accepted, Musk’s net worth was $239.2 billion, comfortably number one as the richest person in the world (Jeff Bezos was number two, with a net worth of $165.2 billion). Net worth is the difference between what you own and what you owe.
Musk owns 21 percent of Tesla but has pledged half his stake as collateral for loans (which Forbes discounts in its calculation). Tesla’s market cap is around $906 billion, putting Musk’s share at around $190 billion.
