Business and Finance

Opinion: Elon Musk’s carbon footprint looks modest by billionaire standards– but then he doesn’t own a yacht

Musk isn’t alone in seeing a vital enhance in wealth throughout a 12 months of pandemic, recession and loss of life. Altogether, the world’s billionaires saw their wealth surge over $1.9 trillion in 2020, based on Forbes.

Those are astronomical numbers, and it’s laborious to get one’s head round them with out some context. As anthropologists who study power and client tradition, we needed to look at how all that wealth translated into consumption and the ensuing carbon footprint.

Walking in a billionaire’s footwear

We discovered that billionaires have carbon footprints that may be hundreds of instances increased than these of common Americans.

The rich own yachts, planes and a number of mansions, all of which contribute greenhouse gases to the environment. For instance, a superyacht with a everlasting crew, helicopter pad, submarines and swimming pools emits about 7,020 tons of CO2 a 12 months, based on our calculations, making it by the far worst asset to own from an environmental standpoint. Transportation and actual property make up the lion’s share of most individuals’s carbon footprint, so we centered on calculating these classes for every billionaire.

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To decide a pattern of billionaires, we began with the 2020 Forbes List of two,095 billionaires. A random or representatives pattern of billionaire carbon footprints is not possible as a result of most wealthy people shy away from publicity, so we needed to concentrate on these whose consumption is public information. This excluded many of the superrich in Asia and the Middle East.

We combed 82 databases of public information to doc billionaires’ homes, autos, plane and yachts. After an exhaustive search, we began with 20 well-known billionaires whose possessions we had been in a position to verify, whereas attempting to incorporate some variety in gender and geography. We have submitted our paper for peer evaluation but plan to proceed including to our checklist.

We then used a wide selection of sources, such because the U.S. Energy Information Administration and Carbon Footprint, to estimate the annual CO2 emissions of every home, plane, car and yacht. In some instances we needed to estimate the scale of homes from satellite tv for pc photos or pictures and using non-public plane and yachts by searching the popular press and drawing on other studies. Our outcomes are primarily based on analyzing typical use of every asset given its measurement and the whole lot else we may study.

We didn’t attempt to calculate every asset’s “embodied carbon” emissions — that’s, how a lot CO2 is burned all through the availability chain in making the product — or the emissions produced by their household, family staff or entourage. We additionally didn’t embrace the emissions of corporations of which they own half or all, as a result of that will have added one other vital diploma of complexity. For instance, we didn’t calculate the emissions of Tesla
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-2.19%

or Amazon
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-0.41%

when calculating Musk’s or Bezos’ footprints.

In different phrases, these are all possible conservative estimates of how a lot they emit.

Your carbon footprint

To get a sense of perspective, let’s begin with the carbon footprint of the common particular person.


Residents of the U.S., together with billionaires, emitted about 15 tons of CO2 per person in 2018. The international common footprint is smaller, at nearly 5 tons per particular person.

In distinction, the 20 folks in our pattern contributed a mean of about 8,190 tons of CO2 in 2018. But some produced much more greenhouse gases than others.

Roman Abramovich, who made most of his $19 billion fortunebuying and selling oil and fuel, was the largest polluter on our checklist. Outside of Russia, he might be greatest generally known as the headline-grabbingproprietor of London’s Chelsea Football Club.

Abramovich cruises the Mediterranean in his superyacht, named the Eclipse, which at 162.5 meters bow to stern is the second-biggest on the earth, rivaling some cruise ships. And he hops the globe on a custom-designed Boeing 767, which boasts a 30-seat eating room. He takes shorter journeys in his Gulfstream G650 jet, considered one of his two helicopters or the submarine on his yacht.

He maintains houses in lots of nations, together with a mansion in London’s Kensington Park Gardens, a chateau in Cap D’Antibes in France and a 28-hectare estate in St. Barts that once belonged to David Rockefeller. In 2018, he left the U.Ok. and settled in Israel, the place he turned a twin citizen and purchased a residence in 2020 for $64.5 million.

We estimate that he was answerable for at the very least 33,859 metric tons of CO2 emissions in 2018 – greater than two-thirds from his yacht, which is at all times prepared to make use of at a second’s discover year-round.

Massive mansions and personal jets

Bill Gates, at the moment the world’s fourth-richest person with $124 billion, is a “modest” polluter – by billionaire requirements – and is typical of those that might not own a large yacht but make up for it with non-public jets.

Co-founder of Microsoft
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he retired in 2020 to handle the Bill and Melinda Gates Foundation, the world’s largest charity, with an endowment of $50 billion.

In the Nineties, Gates built Xanadu – named after the huge fictional property in Orson Welles’ “Citizen Kane” – at a price of $127 million in Medina, Washington. The large residence covers 6,131 sq. meters, with a 23-car storage, a 20-person cinema and 24 loos. He additionally owns at the very least 5 different dwellings in Southern California, the San Juan Islands in Washington state, North Salem, New York, and New York City, in addition to a horse farmfour private jets, a seaplane and “a collection” of helicopters.


We estimated his annual footprint at 7,493 metric tons of carbon, largely from a lot of flying.

The environmentally minded tech CEO

South African-born Elon Musk, CEO of Tesla Motors and SpaceX, has a surprisingly low carbon footprint regardless of being the world’s second-richest particular person, with $177 billion – and he seems intent on setting an example for other billionaires.

He doesn’t own a superyacht and says he doesn’t even take vacations.

We calculated a comparatively modest carbon footprint for him in 2018, due to his eight homes and one non-public jet. This 12 months, his carbon footprint could be even decrease as a result of in 2020 he sold all of his houses and promised to divest the rest of his worldly possessions.

While his private carbon footprint remains to be a whole bunch of instances increased than that of a mean particular person, he demonstrates that the superrich nonetheless have selections to make and might certainly decrease their environmental affect in the event that they so select.

His estimated footprint from the belongings we checked out was 2,084 tons in 2018.

The worth of naming and shaming

The purpose of our ongoing analysis is to get folks to consider the environmental burden of wealth.

While plenty of research has shown that wealthy nations and rich folks produce way over their share of greenhouse fuel emissions, these research can really feel summary and tutorial, making it tougher to vary this habits.

We imagine “shaming” – for lack of a higher phrase – superrich folks for his or her energy-intensive spending habits can have an necessary affect, revealing them as fashions of overconsumption that individuals shouldn’t emulate.

Newspapers, cities and local residents made an impact throughout the California droughts of 2014 and 2015 by “drought shaming” celebrities and others who had been losing water, seen in their continually green lawns. And the Swedes got here up with a new time period – “flygskam” or flying disgrace – to boost consciousness in regards to the local weather affect of air journey.


Climate consultants say that to have any hope of limiting international warming to 1.5 levels Celsius above preindustrial ranges, countries must cut their emissions in half by 2030 and remove them by 2050.

Asking common Americans to undertake much less carbon-intensive life to attain this objective could be galling and ineffective when it might take about 550 of their lifetimes to equal the carbon footprint of the common billionaire on our checklist.

Richard Wilk is a Distinguished Professor and Provost’s Professor of Anthropology in addition to director of the Open Anthropology Institute at Indiana University in Bloomington, Ind. Beatriz Barrosis a Ph.D. candidate in anthropology at Indiana University. This was first printed by The Conversation — “Private planes, mansions and superyachts: What gives billionaires like Musk and Abramovich such a massive carbon footprint“.

Source Link – www.marketwatch.com

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