With IDR 2,600 Trillion, Tesla CEO Elon Musk Still Has Debt

Elon Musk (Photo taken from Instagram @elonmusk)

JAKARTA - The total wealth of Elon Musk, CEO of Tesla, is now the most on earth. Elon Musk is the richest CEO ever, beating Amazone boss Jeff Bezos.

Elon Musk is a founder of SpaceX, the private space company, Tesla Motors and is involved in creating PayPal.

Not surprisingly, in charge of the two big companies in the world, Elon is known to have working hours of up to 80-100 hours per week. But, no doubt, the extra work paid off commensurate with what he did. Until 2021, he is estimated to have a wealth of up to 195 billion US dollars, equivalent to Rp2,730 trillion (based on an exchange rate of Rp.14,000 per US dollar).

Fastest Wealth Increase compared to others

Musk's increase in wealth has indeed set the fastest record in the list of the richest people in the world. In addition, the increase in his wealth was very fast because 18 months ago, Tesla made headlines due to capital problems.

For information, Tesla's shares have experienced rapid growth in the past year, even though the world automotive industry has been stagnating due to the COVID-19 pandemic.

Elon Musk's debt

Who would have thought that in the midst of the wealth of an Elon Musk, he had a lot of debt, as reported by The Verge.

Elon Musk had stated on Twitter that he would sell almost all of his assets. He explained that he did not have a home.

The Wall Street Journal (WSJ) confirmed the financial problems experienced by Elon Musk regarding his debt problems.

"Sometimes he has to borrow heavily, to pay for his lifestyle and business investments without liquidating shares which help him retain control of the company he runs. About half of his Tesla shares are pledged for personal loans (an April 28 financial statement). Maintaining his stake (about 20 percent or 29 billion US dollars at current valuations) is very important for him to take full control in Silicon Valley, "wrote the Wall Street Journal.

Reportedly also, Elon Musk did not receive a dime from Tesla. Last year, Elon was also known to have personal debt of US $ 507 million or equivalent to Rp7.5 trillion to a number of banks in the United States.