From selling off PayPal to owning Tesla, SpaceX, the Boring Company, Starlink network, and
a solar farm – How will Elon Musk, a world-known ambitious Billionaire, who has worked for
more than one hundred hours every week to build his companies within a few years, suddenly
park his bag and leave the top of the market in the world's economy, and go broke?
Or file for bankruptcy and finally lands himself in the trenches – could this ever be realistic?
Suppose all hands are not put on deck, and SpaceX finally files for bankruptcy in the
next few months.
In that case, it will surely affect the world's economy, especially that of the United States.
Now think about this for a moment; the materials and workforce that have been initiated in
running SpaceX and Tesla production operations have uplifted the economy of the United States.
Stick around to find out what exactly could make SpaceX and Elon Musk forget about the
Starship project and finally file for bankruptcy in the next five years.
According to 2022 statistics, SpaceX has a total number of 12,000 employees currently
working in the company, not to mention that Tesla has lifted over 50,000 jobless US citizens
from the labor market.
Hence, SpaceX, Tesla, and The Boring Company have employed more than 80,000 people in the
United States.
This alone contributes to over 23% of the US's economic strength.
So, you won't be wrong to say that the survival of thousands of people relies on the shoulder
of Billionaire Elon Musk.
No matter what happens to Tesla and SpaceX, we shouldn't pray that Elon Musk or his company
SpaceX files for bankruptcy; else, much professional personnel will go back to the street and hustle
to beat the current inflation hovering around in the United States.
Let’s take a look, Elon Musk is a visionary entrepreneur that has changed the world, many
people who are ambitious about what the future holds are trying to be like him.
If you go on social media handles like Quora, Twitter, Facebook, and others, You'll see
someone asking very serious questions like; "How can I be like Elon Musk?"
or "what discipline should I study in school, so I could be like Elon Musk?"
This means many people love Elon's success and want to copy his steps to be like him.
But that will be referenced to only the most ambitious people on earth.
Elon Musk on planet earth has literally changed the way many people think; let's put it; his
success fired up the ambition of many creative minds to change the world positively.
Every human wasn't just born into the world to live a simple life, like animals would
do, without dreams, without creating anything, or without anyone talking about you to reconstruct
and solve persisting problems around major challenges faced by the world.
Someone somewhere has to change the world, which has to do with will, and purpose, just
like Elon Musk did.
Elon Musk is a billionaire who revolutionized the system and proved that there is a world
up there in the sky where humans can live a normal life.
And would it be possible that a man like this could lose all his fortunes, fold some of
his companies, file for bankruptcy and finally fall on his knees?
Before this question is answered, let's flashback to the net worth of Elon Musk.
As of 2022 this year, Forbes listed Elon Musk as the richest man on earth, with a net worth
of 209 billion dollars.
But how is someone's net worth actually calculated?
Assets minus liabilities make up a person's net worth.
You may also consider your net worth as the difference between everything you possess
and what you owe.
To determine your net worth, you will need to list everything you possess in addition
to the liabilities you already have.
When we talk about owning anything, we're including things like a vehicle or a house
on which you could still be making payments.
For instance, If you have a mortgage on a property with a market value of $200,000 and
the balance on your loan is $150,000, then you can add $50,000 to your net worth.
This is because the house's market value is greater than the balance on the loan.
And just so you know, a calculation of your net worth does not consider the money you
bring in each month.
If a person spends most of their income, even if they bring home a huge paycheck, their
net worth will still be much lower.
On the other hand, people with lower salaries can nevertheless amass a considerable amount
of wealth and a high net worth; if they invest in assets that are expected to increase in
value, and save money consistently.
Now you understand how the net worth thing is calculated;
But since Elon Musk is worth these billions, what exactly could make SpaceX and Elon Musk
file for bankruptcy, is it buying Twitter?
After purchasing Twitter, does it seem likely that Elon Musk would go bankrupt or lose his
position as the richest man on earth?
Let's make sure we're on the same page here;
Elon has been on twitter for a long time, and current have reach 93 million followers,
but he made his first investment on April 4th 2022, purchasing a 9.1 percent share in
the company.
A few days later, Musk declared his intention to acquire Twitter.
On April 25th, the board of directors of the social media platform agreed to sell it to
Musk for a price of $44 billion, equivalent to £35.3 billion.
Initially, the board had tried to block the deal.
After information surfaced regarding how Elon Musk would finance his proposal, shareholders
put pressure on Twitter management to accept the transaction.
Twitter officials were reportedly under pressure to accept the deal.
Completing Mr. Musk's acquisition of Twitter is expected to take at least half a year.
After Elon Musk indicated on May 13th that he had put the acquisition on hold because
of concerns that there are more spam or fake Twitter accounts, than had been publicly declared
by Twitter, it appears as though it is dangling by a thread.
Even if Elon Musk has agreed to purchase Twitter Inc. for $44 billion, it would appear that
the richest man in the world is still on the lookout for some of the money.
But during the TED talk, he publicly stated that he can simply afford to buy Twitter,
so why is he looking for the money now?
Musk is on the line for $21 billion in equity financing as part of the agreement, which
prompted him to sell $8.5 billion in Tesla Inc. stock in three days.
However, Musk is still far short of the $21 billion required.
He has already stated that he has "no additional Tesla sales planned," implying that the money
must come from somewhere else.
Finding that "somewhere else" may be more difficult than imagined, but a SEC report
revealed that Musk had secured nearly $7.1 billion more.
Binance, Brookfield, Fidelity Management & Research, Lawrence J. Ellison Revocable Trust, and Qatar
Holding are the investors identified in the document.
Musk joked at the Met Gala that he planned to beg attendance to "Please!
Please!
Please assist me in buying Twitter!"
and has already stated that he intends to allow existing Twitter shareholders to roll
their investment into the new, privately owned firm, reducing his personal stake.
In summary, it appears like Musk is having difficulty raising funds required to make
this Twitter acquisition a reality.
After all, this is Elon Musk, and he might surprise us all by announcing the remaining
money someday.
The question in Musk's Twitter proposal was always whether he could generate the $44 billion
required, especially given that most of his personal fortune is invested in Tesla and
has previously been used as collateral to acquire loans.
And there will be a huge interest rate for this billion-dollar loan, which will be deducted
from Tesla's account sooner.
It's a fact that his Twitter contract might not go through if he can't locate the financing.
Does this finally mean that the thought of acquiring Twitter is the devil in Elon's career
to pull him down from the top?
That is absolutely false; let's finally get into the real meat.
Why will Elon Musk and his company SpaceX finally file for bankruptcy in the next five
years?
Here is the hidden truth;
Elon Musk, CEO of SpaceX, ordered his staff in an email to work on SpaceX's Raptor engine
over the weekend since the company faces a "real danger of bankruptcy" unless it speeds
up the production.
Musk disclosed in the email that the firm faces a "real danger of bankruptcy" if manufacturing
does not grow to match the company's new Starship rocket's high flight rate next year.
"Unfortunately, the Raptor manufacturing situation has worsened since a few weeks ago.
As we investigated more into the concerns that arose following the departure of previous
top management, we discovered that they were significantly more serious than previously
stated.
There is no way to sugarcoat this," Musk wrote.
Musk also said that, rather than taking the weekend off as planned, he will be working
on the Raptor all night and weekend.
He then urged staff who did not have "important family concerns" to work, adding it was time
for all hands on deck.
He scribbled down his thoughts, stating;
"If SpaceX cannot produce enough reliable Raptors, we will be unable to fly Starship,
which means we will be unable to fly Starlink Satellite V2 - Falcon lacks both the volume
and the mass to orbit required for satellite V2.
Satellite V1 is financially poor on its own, whereas V2 is powerful."
Musk previously stated that he expected Starship to be launched into orbit for the first time
in 2022 if the Federal Aviation Administration granted regulatory permits.
Over the last few years, SpaceX has received billions of dollars in investment for both
Starship and its satellite internet project, Starlink.
But will this plan be achievable if SpaceX declares bankruptcy at any time?
There are so many plans in hazard if this happens, like the $3.2 Billions Space Factory
that SpaceX is planning To Launch, click on the video to know more about it.