Elon Musk, the Manchester United takeover candidate, is one of the world’s wealthiest people, with a fortune that dwarfs that of the British royal family..
If the Twitter owner wins the race to succeed the Glazers, the Red Devils will have plenty of funds to revamp the club both on and off the field.
In recent years, United fans have been pleading for change in the boardroom, with the Glazers almost universally unpopular at Old Trafford. Supporters believe that investment in training facilities is required, and many are dissatisfied with the club’s debt incurred during their tenure.
Their prayers may be answered soon, with the Glazers reportedly willing to sell if their £6 billion valuation is met..
Musk is joined in monitoring United’s situation by Sir Jim Ratcliffe and a wealthy Qatari investment fund.
Musk is said to be the world’s second-richest person, after luxury goods magnate Bernard Arnault, with a net worth of more than £154 billion.
Despite a massive £149 billion drop in his fortune last year, Musk has managed to maintain his position as a significant player on the global rich list. The amount represents the largest-ever drop in net worth over a calendar year, owing primarily to the decline of Tesla shares. His fortune was once estimated to be worth £262 billion.
Musk has amassed a net worth seven times that of the royal family’s reported £23 billion fortune, in addition to blitzing the Glazers’ wealth..
The Crown Estate, the royal family’s largest source of wealth, includes vast areas of rural land as well as high-end London properties.
United has set a soft deadline of February 17 for the first round of bids to acquire the club, and it is unclear whether Musk will enter the fray. A bid from the Qatar Investment Authority, a £369 billion sovereign wealth fund, is expected to be submitted this week.
Former Crystal Palace owner Simon Jordan has weighed in on the saga, warning United fans that Musk may use the club as a means of gaining influence. “I think Musk is a stalking horse that people use for everything,” he explained to talkSPORT..
While I believe he is a brilliant man, he is seeking influence..
Twitter is a source of influence. Owning a football club can help supplement that as well. When you get these people involved, be careful what you wish for because what they want to do isn’t always logical. I’ve always believed that an American ownership model would be introduced.
“I don’t believe Elon Musk has £44 billion in his bank account. What he has in all of his assets is worth something. Few people sit there with massive cash reserves..