6 Times World’s Richest Man Elon Musk Proved He Is a Business Genius Through Lucrative Deals and Investments

• The world’s richest man, Elon Musk has invented, created, and invested in many major technologies throughout the years
• From online banking to space technology, the Pretoria-born entrepreneur has an eye for lucrative deals
• Briefly News took look at some of his impressive business deals that have contributed to his wealthy status and success

The Pretoria-born entrepreneur and business magnate Elon Musk has invented and invested in many lucrative deals and businesses throughout the years.

The CEO of Tesla and SpaceX need only to snap his fingers for the stock market to soar or plummet as has now become lore.

Briefly News takes a look at 6 noteworthy business deals that have contributed to his wealthy status and prove he is a genius.

Twitter

Twitter accepted Elon Musk's $44 billion takeover deal, NDTV reported. Musk currently owns 9.1 percent stake in Twitter and is the social media company's second-biggest shareholder. Twitter had previously invited Elon Musk to join its board of directors, but the SpaceX head declined.

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Musk has raised $25.5 billion of fully committed debt and margin loan financing from a dozen banks to back the bid.

Tesla

Musk is the CEO of Tesla, an American automotive and clean energy company based in Austin, Texas. Tesla designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services.

While the COVID-19 pandemic shattered the global economy in 2020 and put millions of people out of work, Tesla’s stock price increased 700%, adding $140 billion to Musk’s net worth, Money Talks reported.

SolarCity

Tesla acquired SolarCity, a residential solar company, in 2016.

The company’s residential solar energy product is now known as Solar Roof — which combines premium glass roof tiles with energy generation.

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SpaceX

SpaceX is the billionaire’s start-up rocket company which has leapfrogged Boeing and others fancying their giant statuses to claim a huge stake in the world's spacefaring future.

SpaceX was founded in 2002 by Elon Musk, to reduce space transportation costs to enable the colonisation of Mars.

Starlink

Starlink is a satellite internet constellation operated by SpaceX, providing satellite Internet access coverage to 36 countries. It aims for global coverage. SpaceX started launching Starlink satellites in 2019.

It is reported that SpaceX’s goal is to have more than 40,000 Starlink satellites in orbit.

X.com

X.com was an online bank co-founded by Elon Musk, Harris Fricker, Christopher Payne, and Ed Ho in March 1999. In March 2000, X.com merged with competitor Confinity Inc. before becoming PayPal — which eBay bought in 2002 for $1.5 billion. Musk’s share: $180 million.

Elon Musk might have a net worth of R4 trillion but he doesn’t own residential property

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In a separate story, Briefly News reported that Elon Musk’s head isn’t in the clouds. No, his dreams reach far beyond that to the stars that shine above us, to the uninhabitable planets in our solar system. The 51-year-old surpassed Jeff Bezos as the richest man on the planet, but his aspirations were never financially motivated and the lack of luxury seen in his lifestyle proves it.

As of 24 April, Elon Musk is worth a staggering $269.7 billion according to Forbes’ real-time billionaire's rankings. This amounts to more than R4 trillion, which is enough money to sustain the whole of South Africa for two years while still being considered rich.

Yet, despite having all the money in the world, almost quite literally, Elon Musk doesn’t live a flashy, luxurious life. In fact, the man who tops the world’s richest people list doesn’t even own property.

Source: Briefly News