Elon Musk says he has less than 0.1% of his net worth as cash; that’s still nearly $850 million!

Tesla CEO Elon Musk once again hinted that he is ‘cash poor’ as the world’s richest person is on his way to becoming the first trillionaire in history in terms of net worth.

Addressing speculation about his growing wealth, Musk explained that the majority of his net worth is tied to his stakes in Tesla and SpaceX, largely in the form of stocks and not actual cash.

“I already have thousands of times that. My ‘net worth’ comes almost entirely from my shares in Tesla and SpaceX. I have less than 0.1% in cash,” he said.

Musk was responding to a post shared by the X account of Kalshi, a web-based prediction market platform, predicting that the Tesla CEO has a 75% chance of becoming a trillionaire this year.

In his response, Elon Musk explained that many Tesla and SpaceX employees received stock or options, and that more than 80% of Tesla is owned by retail investors. This means that any value creation will benefit Musk as well as other investors.

“Tesla and SpaceX employees all receive stock/options, and Tesla is 80% owned by retail investors and index/pension funds, so more than 80% of the appreciation is applied to them,” he said.

Elon Musk’s wealth: Will he become a trillionaire?

This isn’t the first time Elon Musk has stated that he’s strapped for cash. “Some people think I have a lot of money,” he said in 2019. “Actually there isn’t.”

The South African native founded SpaceX in 2002 and joined Tesla in 2004. Last year, a $1 trillion pay package was approved for Musk under certain conditions.

Amidst all this, speculations have ripened that Elon Musk will become the world’s first trillionaire this year. According to Kalshi’s estimates, Musk has a 78% chance of becoming a trillionaire by 2027, especially after SpaceX merges with xAI, bringing the organization’s total value to $1.25 trillion. Musk has a 43% stake in the company, making it worth more than $530 billion.

He also owns about 12% of Tesla, worth $178 billion, as well as $124 billion in stock options. This doesn’t include the record-breaking pay package at Tesla; will receive this package only after the company achieves its goals over the next decade.

How much money does Elon Musk have?

According to the Forbes Real Time Billionaires list, Elon Musk currently has a net worth of $849.3 billion. This reflects all of his assets and cash, including stocks, options, real estate, and other things he owns.

Musk claimed that much of this money was tied to the valuation of SpaceX and Tesla, and that it wasn’t exactly real money.

But he said he had less than 0.1% cash with him. This means approximately 850 million dollars.

While this amount is nothing compared to Musk’s empire, taken on its own it represents a sizeable amount of liquid assets. His wealth soared last year due to rising Tesla valuations and stakes in companies such as SpaceX and xAI.