Elon Musk’s Portfolio: 5 Biggest Investments

1. PayPal Holdings, Inc. (NASDAQ:PYPL)

Number of Hedge Fund Holders: 110  

PayPal Holdings, Inc. (NASDAQ:PYPL) is a digital payments firm. Musk was one of the co-founding members of the firm. In 1999, Musk co-founded X.com that later merged with Confinity and was renamed PayPal in 2001. In 2002, ecommerce firm eBay purchased PayPal for $1.5 billion. The company now has a market capitalization of around $100 billion. At the time of the deal, Musk was the largest shareholder with ownership of 7,109,989 shares, worth more than 11% of the firm. 

Musk is no longer associated with PayPal Holdings, Inc. (NASDAQ:PYPL). He used the proceeds from the PayPal buyout to fund ventures in Tesla, SpaceX, and SolarCity. 

At the end of the fourth quarter of 2021, 110 hedge funds in the database of Insider Monkey held stakes worth $9.9 billion in PayPal Holdings, Inc. (NASDAQ:PYPL), compared to 123 in the preceding quarter worth $12.8 billion.

In its Q4 2021 investor letter, Polen Capital Management, an asset management firm, highlighted a few stocks and PayPal Holdings, Inc. (NASDAQ:PYPL) was one of them. Here is what the fund said:

“For the full year 2020, one of the top performers was PayPal Holdings, Inc. (NASDAQ:PYPL), which we purchased in 2019, the company continues to take market share in digital payments and has seen an acceleration in user adoption and engagement, especially within their “silver tech” or older user demographic. We expect many more years of ongoing double-digit growth from their various business segments and new initiatives.”

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