Elon Musk, the high flying tech entrepreneur, is broke. Is he really? Musk, who is the man behind such cutting edge companies as PayPal, Tesla Motors and Space X, said he was out of cash and living on personel loans when his wife filed for divorce. After he ran off with an actress, Mrs. Musk wants to slice off a chunk of Mr. Musk’s empire.
Elon Musk – divorce won’t cramp his style
Elon Musk — Space X rocket scientist and also the Tesla Motors mogul, was used as a role model for Robert Downey Jr. in his portrayal of industrialist Tony Stark of the Iron Man movie franchise — has it all. But as outlined by the New York Times, Musk, finding himself in the middle of a divorce, says his account with your bank is empty. He says he invested every cent of his money in his companies and is living off loans which were given to him by his wealthy friends. He subsists, according to court filings, on a mere $200,000 a month. He nevertheless has a private jet though.
Elon Musk is the Iron Man of tech
Elon Musk, who graced “Iron Man 2″ in a role, may just be broke, but in the world of the super rich, the term is relative. On June 4 his business Space X conducted a successful launch of the Falcon 9, a rocket he actually helped to design, which brings the business closer to a $1.6 billion contract with NASA. Tesla Motors, the $100,000 electric sports car business he founded, just won a $50 million investment that came from Toyota and is scheduled to hold an first public offering of stock that is expected to value the company at about $1.4 billion.
Justine Musk wants a divorce
After Musk ran off with actress Talulah Riley, his wife, fantasy novelist Justine Musk, filed for divorce. Autoevolution reports that Mrs. Musk wants the house, alimony, child support and $6 million cash. She also wants a piece of Tesla Motors. In a post on her blog titled “Golddigging,” Justine Musk wrote:
“For those who want to know the extent of my golddigging, this is what I asked for, from my ex-husband and the father of my five children Elon Musk, who is a billionaire and likely to become one of the wealthiest men on the planet. Is that what I deserve? I do not know. Who exactly deserves that kind of wealth? But based on our life and history together, is that reasonable? I think so.”
Elon Musk with assets, not cash
He wasn’t always so strained in his finances. It was reported by VentureBeat that in documents filed in the divorce case, Musk made $9.6 million in 2008; he made an average of $17.2 million per year from 2005 to 2008. As of Dec. 31, 2008, he also had holdings in venture capital and private equity partnerships. The partnerships aren’t considered liquid assets. It might take months to get cash since buyers have to be willing to take the risk.
Discover a lot more information on this topic
New York Times
dealbook.blogs.nytimes.com/2010/06/22/sorkin-elon-musk-of-paypal-and-tesla-fame-is-broke/
Autoevolution
autoevolution.com/news/elon-musk-is-broke-21647.html
VentureBeat
venturebeat.com/2010/05/27/elon-musk-personal-finances/
