Elon Musk who was the high flying tech entrepreneur is broke. Or is he? Musk, the man behind companies as PayPal, Tesla Motors and Space X, said he was out of cash and living on personal cash loans when his wife filed for divorce. After he ran off with an actress and left her with all of of the kids, Mrs. Musk wants to get her slice off a chunk of Mr. Musk’s empire.
Source for this article: Elon Musk of Tesla, Space X and Iron Man – no cash in divorce case
Divorce won't cramp Elon Musk's style
Elon Musk – who’s the Space X rocket scientist and 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 the New York Times reports that Musk, finding himself within 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 from his wealthy friends. He owes, according to court filings, $200,000 a month. Nevertheless, he nevertheless has his private jet.
Elon Musk – 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 company Space X conducted a successful launch of the Falcon 9, which is a rocket he helped 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 from Toyota and is scheduled to hold an initial public offering of stock that is expected to value the business at about $1.4 billion.
Justine Musk wants a divorce
After Musk ran off with actress Talulah Riley, fantasy novelist Justine Musk, also his wife, filed for divorce. It was reported by Autoevolution 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 also the father of my five children Elon Musk, who’s a billionaire and likely to become one of the wealthiest men on the planet. Is that what I deserve? I don’t know. Who exactly deserves that kind of wealth? But based on our life and history together, is that reasonable? I think so."
Elon Musk has assets, not cash
His finances were not always so strained. VentureBeat reports 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 extensive holdings in venture capital and private equity partnerships. These partnerships can't possibly be considered liquid assets. It might take months to get cash given that buyers have to be willing to take the risk.
Citations
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/
No comments:
Post a Comment