Profile photo for Muktabh Mayank

Chill ! Don’t be so hard on a person who has actually done something about humanity’s future. Elon Musk’s businesses and ideas {Mainstream EVs, Hyperloops, Private Space Exploration, Satellite internet services, brain implants for human hivemind, OpenAI, Affordable Solar} are almost all going to change humanity for future directly or indirectly. I personally think he deserves being the richest man alive just for his effort.

I am pretty sure that the person who asked this question will need to understand how precarious situations for entrepreneurs are. Elon is very rich in invisible dollars, like you having a deposit in a bank you cannot cash for years, except that the deposit can crash & burn anytime. A lot of his wealth is just people speculating about how good a company can he build and he cannot even spend it, or even be safe in the fact that the wealth would stay with him forever. As a rich [or even small] tech entrepreneur, one’s wealth is just the valuation of their company which is determined by others who can someday stop giving the same value to company. Unlike say old-money people [royalty, politicians, celebrities], entrepreneurs have all eggs in one high risk basket. Having 1 Million US Dollars in a safe mutual fund is much more sure money than having 10 M US Dollars in equity valuation. Unlike old money, who have lot of money invested in safe places, almost all of a tech [or even other] entrepreneur’s worth is locked in their venture that can go up and down like crazy. Its much more validation than wealth. Not a bad thing to have wealth in the way entrepreneurs have [that basically means you are a leader and people believe in you], but seldom means you are super “rich” in sense common people think.

Having shares in a high valuation company is not at all like founders have been rewarded with hordes of cash before they have achieved anything. All that means is people like them as leaders. If these entrepreneurs do well in future, they might eventually cash all their validation out. [That seemed like the central premise of question, how can they get rich if company doesn’t churn profit ?] So unlike some oil barons, a somewhat successful startup founder cannot spend like there is no tomorrow, despite of being much worth than oil money they make.

Elon Musk has been trusted to become the best business leader of the world and thus he is the most valued man, but he is not really the “richest” IMO. He might eventually become the richest if he delivers.

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