This Is How Much Tech Billionaire Elon Musk Makes In An Hour
Tesla reported a profit of $17.66 billion for the fiscal year 2023 in its Form 10-K filing with the US SEC, citing its two operational segments: automotive and energy generation and storage.
EV maker Tesla and SpaceX owner and tech billionaire Elon Musk earns approximately $6,887 per minute, $413,220 per hour, $9,917,280 per day, and $69,420,960 per week, the media has report. While Musk is currently not the wealthiest person globally, he holds the second position with a net worth of $198.9 billion, trailing behind LVMH founder Bernard Arnault, says a report by Finbold.
"Calculating earnings per second involved dividing this total by the number of seconds in a year (31,536,000), resulting in an approximate figure of $114.80 per second; this translates to $6,887 per minute, $413,220 per hour, $9,917,280 per day, and $69,420,960 per week," the report noted.
Musk-owned Tesla reported a profit of $17.66 billion for the fiscal year 2023 in its Form 10-K filing with the US Securities and Exchange Commission (SEC), citing its two operational segments: automotive and energy generation and storage, the report by Finbold added. However, unlike EV maker Tesla, Musk's other ventures, including SpaceX, Starlink, X (formerly Twitter), The Boring Company, xAI, and Neuralink, are all private companies, exempt from the obligation to disclose their financial details to the public.
Musk's net worth is determined by his ownership stakes in various ventures, comprising 20.5 per cent in Tesla, 54 per cent in Starlink, 42 per cent in SpaceX, approximately 74 per cent in X (formerly Twitter), over 90 per cent in The Boring Company, 25 per cent in xAI, and exceeding 50 per cent in Neuralink.
Meanwhile, recently, a report said that Musk may also be considering layoffs, although this time it's not related to X (formerly Twitter), but to Tesla.
Musk, who previously reduced nearly half of Twitter's global workforce, is now considering layoffs for another one of his companies -- EV maker Tesla. News agcney Bloomberg reports that Musk has instructed Tesla managers to assess their employees' work and determine which roles are essential. The company has scrapped its usual semiannual performance review meeting and instead tasked managers with completing assessments, which consist of a single-line query for each employee. This unconventional evaluation process has raised concerns about potential layoffs.
The employee evaluation appears to be influenced by Musk's cost-cutting approach in reaction to Tesla's declining sales growth, the report further noted. Musk, known for his rigorous approach, previously cautioned X employees to adhere to his "hardcore" philosophy.
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