Elon Musk’s skyrocketing wealth puts PIC in the shade
SA-born Elon Musk is now worth more than the entire pension savings of government employees in his land of birth. The Bloomberg Billionaire’s Index shows Musk is worth a staggering $128bn, thanks largely to Tesla’s surging stock value.
That makes him the second-richest person in the world behind Amazon founder Jeff Bezos. If you’re battling to quantify that level of wealth, consider for a moment that it exceeds the assets of the Public Investment Corporation (PIC), which invests on behalf of the Government Employees Pension Fund (GEPF)...