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Five People Founded Tesla, But Only Elon Musk Became Extremely Rich (open.substack.com)

submitted 9 months ago by 4realz@lemmy.world to c/technology@lemmy.world

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[–] AA5B@lemmy.world 13 points 9 months ago (1 children)

I was never interested in following up claims that Musk was not a founder, but to the extent this article is fair, I’d say he earned the title of founder as well as being the wealthiest. Maybe he was the only one who could afford to go all in on Tesla, but the fact is he went all in on Tesla and put arguably the most into building it into a car manufacturer

And they all look extremely rich to me. Even the “poorest” of the group made $7M for one year

[–] Pipoca@lemmy.world 9 points 9 months ago

7 million is "retiring doctor" or "retiring Google engineer" rich.

It's generally considered safe to withdraw 4% of your nest egg the first year, and adjust that for inflation moving forwards. $7 million can sustain a $280k/year retirement. That's certainly rich, but there's a world of difference between that and a billionaire. A billionaire can safely spend $40 million a year.