I just saw Yu Hao questioning Musk in the video account today that Tesla and SpaceX have never made money! So how did Musk earn his trillions of assets? 1. In the early days, they earned $22 million by selling Zip2 and $180 million by PayPal, and obtained their first bucket of real gold and silver ​ 2. Tesla does not rely on dividends, but relies on the largest ever $55 billion stock options and skyrocketing market value, and its net worth naturally takes off with the stock price ​ 3. SpaceX does not go public and relies on primary market financing to raise its valuation, holding 42% of the shares and increasing its value by several hundred billion yuan ​ 4. Starlink's annual revenue exceeds several billion dollars, with a gross profit margin of over 60% and extremely strong cash flow. It is not profitable on paper, but all the money is invested back in research and development ​ Core logic: No profit on company books ≠ Boss no money, Musk earns future expectations+era valuation.