We all know that Elon Musk is a wealthy man, but often times compared to other billionaires such as sheikhs, the question of who is richer often arises. To truly examine this question, it is essential to look at the various sources of wealth and measures of wealth, as well as taking a look at the respective lifestyles that the two most wealthy individuals lead. By doing this we can get a good idea of the differences between the two, and the relative wealth that each currently holds.
One factor that is often taken into consideration when looking at wealth is the estimated stock holdings each billionaire holds. Forbes reported in January 2021 that Elon Musk had active stock holdings of approximately $195 billion, while the wealthiest sheikhs in the world, the Al-Thani family of Qatar, is estimated to have a collective wealth of $350 billion, making them the world’s richest family.
Sheikhs, like many other billionaires, often have their wealth passed down through the family and inherited from previous generations, while Elon Musk’s wealth is largely due to his business success and investments. Whilst Elon Musk’s investments are highly successful, it is likely that his wealth is still lesser than that of the wealthiest sheikhs who have had their wealth passed down for generations. However, to say that sheikhs are definitely wealthier than Elon Musk would be wrong, as the same Forbes report suggests that Elon Musk is currently the second wealthiest individual in the world.
A deeper analysis of the difference in the two wealthiest individuals’ lifestyles might provide further insight. For instance, the Al Thani family of Qatar live a much more lavish lifestyle than Musk, and is known to host parties with the best of the best in terms of personnel and product availability. On the other hand, Musk’s lifestyle is more focused on work, and he is often found working late into the night in order to achieve his ambitious business goals.
Furthermore, media outlets have reported that sheikhs have substantially more in private bank accounts as opposed to Musk. A columnist for Bloomberg Opinion, Sarah Martin reported that many sheikhs keep their wealth in overseas accounts, giving them much greater private wealth and holdings compared to Elon Musk who keeps most of his wealth in the form of liquid assets (stock and venture investments).
Overall, whilst it is difficult to make a definitive statement as to which of them is the wealthier in terms of assets, investments and private bank accounts, it can be said that the richest sheikhs have a much more secure and privately held wealth than Elon Musk, making them significantly wealthier.
Sheikhs and Investments
When looking at the investments made by sheikhs, it is clear that they have a much more established portfolio than Elon Musk. Whilst Musk has been making several large investments in technology over the past few years, the Qatar Investment Authority (QIA) has long been considered one of the world’s foremost investors, with holdings stretching from the US to Europe, China and Australia.
The QIA is managed by a variety of sheikhs who are responsible for investing their wealth wisely so that it can grow and benefit the people of Qatar. This includes investments in real estate, private equity, and venture capital, as well as investments in high-tech companies and infrastructure projects.
In contrast to the relatively large investments that Elon Musk makes into technology, sheikhs are often more conservative because they are looking to structure their wealth in a way that will last for generations. Therefore, whilst Elon Musk may have made larger investments in a shorter space of time, the investments of the wealthiest sheikhs are longer-term and are aimed at more solid success over the years.
Indeed, evidence of the difference in investment preferences can be seen in the investments made by sheikhs over the past year. Whilst Elon Musk is often found investing in cryptocurrency and other technology-related projects, sheikhs have been investing in a variety of more traditional businesses such as Property, Real Estate, Banks and Automotive.
In conclusion, whilst it is difficult to make a definitive statement as to who is the wealthier of the two, it can be said that the wealthiest sheikhs have a much more secure and privately held wealth than Elon Musk, making them significantly wealthier.
Sheikhs and Public Attention
Another way to examine the differences between Elon Musk and Sheikhs is to look at their public presence and the attention that they generate. As a rule, sheikhs tend to stay out of the public eye, preferring to focus more on their investments and business strategy.
On the other hand, Elon Musk is known for his public presence and is often seen attending events, meetings and discussing his business ideas in public forums. Furthermore, it is arguable that Musk receives more media coverage than many sheikhs, with his tweets often creating news around the world.
This is particularly true when looking at the media coverage that each receives in the Middle East. Generally speaking, sheikhs tend to receive less coverage than other celebrities and billionaires, whilst Elon Musk has expanded his presence in the Middle East in recent years due to the amount of investment that has been made into various projects. This includes the recently announced $500 million investment in the region made by Tesla.
Overall, whilst sheikhs may be wealthier in terms of private assets and investments, Elon Musk’s media presence means that he is likely to receive more attention and coverage in the long term.
Sheikhs and Philanthropy
When looking at how the two wealthy individuals compare in terms of philanthropic contributions, it is clear that Musk is leading the way in terms of charitable donations. Musk himself is often seen donating to numerous causes, such as space exploration and artificial intelligence research. It is also reported that he has donated billions of dollars to the charity Open AI, which is dedicated to the research of artificial general intelligence.
In contrast, many sheikhs are not known for making large philanthropic donations and tend to focus more on their investments and business interests. One notable exception to this is Sheikh Mohammed bin Rashid Al Maktoum, the Prime Minister of the United Arab Emirates. He is well known for his charitable works and was even voted the most generous Arab for his donations in 2019.
Whilst Elon Musk does not have the same long record of philanthropy as the wealthiest sheikhs, he has been making large donations over the last few years and is likely to continue to make donations in the future. This makes him one of the wealthiest and most generous individuals in the world.
Sheikhs and Impact
Another factor to consider when looking at the differences between the two wealthy individuals is their respective impact on the world. Whilst sheikhs are often doing a great service for the people of the middle east, it is argued that Elon Musk has had a much greater impact on the entire world due to his investments in Tesla and SpaceX.
Tesla in particular has been instrumental in transforming the way we view electric vehicles and renewable energy, with the company’s investments in solar energy and battery technology having a global impact. SpaceX, Musk’s space exploration company, is also having a profound effect on space exploration, with the company’s rocket launches providing a much cheaper way of reaching space than traditional methods. In addition, Musk’s dream of colonising Mars may soon become a reality.
Whilst sheikhs have had a powerful impact on the region, it is clear that Elon Musk’s investments and innovations have had a much more global effect and are likely to have an even greater impact in the future.
Sheikhs and Influence
Finally, we need to examine the level of influence each billionaire holds. In this aspect, it is clear that Elon Musk has a much greater influence over the public than many sheikhs. This is largely due to Musk’s active presence in the media and his use of social media platforms to spread his views and opinions.
For example, Musk’s tweets often result in huge market swings and large reactions from the public. This shows the level of influence he holds over the public, with his opinions often having an effect on the stock market and other financial metrics.
In comparison, most sheikhs do not have the same level of influence over the public, with their influence generally confined to their home countries. Whilst there are exceptions, such as Sheikh Mohammed bin Rashid Al Maktoum, they do not hold the same level of influence that Musk holds over the global population.
Overall, it is clear that Elon Musk holds more influence than most sheikhs due to his active presence on the world stage and the impact his words and decisions have on the global population.
