Every billionaire hides a trusted person. And even more so if you are the most powerful person in the world, economically, such as Elon Musk, with a heritage that reaches 206,000 million dollars, according to the Bloomberg wealth index. The owner of Tesla and Space X has the presence among his ranks of Jared Birchall, a former Morgan Stanley banker who is in charge of solving the problems of his boss. In other words, in terms of moviegoers, Mr. Wolf (Pulp Fiction) is to Jared Birchall what Marcellus Wallace is to Elon Musk.
Birchall began his professional career as an analyst at Goldman Sachs before signing in 2000 for Merrill Lynch’s private banking and investment group. There, he only served clients with at least $10 million in assets. After a decade at Merrill, from which he was fired in 2010, Birchall moved two months later to Morgan Stanley and, finally, in 2016, Musk signed him to run Excession, the family office (a financial advisory and wealth management firm that supports to one or several families of multimillionaire assets) of the tycoon.
But how and why does Elon Musk trust him with his affairs? According to several friends of Birchall for Business Insider, he is “a very ethical and trustworthy person”, and stands out “because financial advisors are not known for being the most honest and ethical people”. They also say that Birchall’s measured and diplomatic nature works as a necessary counterweight to the impulsive billionaire. “He is the straightest person you can meet,” confesses another colleague. “His advice from him is calm and direct. Jared speaks after listening to other people.”
With all this, Bichall could be said to be the antithesis of Musk. Both his friends and his family describe him as pleasant, soft-spoken and calm, polite and a family man. Unlike his boss, Birchall keeps a low profile: he’s a Mormon, belongs to the Church of Jesus Christ of Latter-day Saints, and can’t drink coffee or alcohol, much less, something Musk did on the Musk podcast. Joe Rogan. So it could be said that Birchall is the complete opposite of his boss: Elon Musk.
Birchall, 47, is a very busy person, professionally speaking. Musk’s right-hand man is also an adviser to many of his boss’s foundations and companies. For a number of years he was even listed as CEO of Neuralink, a brain microchip company, though it seems he was only CEO on paper. He also arranges trips for Musk’s children, sells the houses, contacts bankers, hires babysitters and security guards, and buys web domains for himself.
Being Musk’s right-hand man or number 2 means making a lot of money. That is why, according to a Morgan Stanley report, a director of a large family office, such as Musk’s, earns between 1 and 3 million dollars a year. But the compensation can be much higher depending on the responsibilities, especially if it includes direct money management by selecting stocks or hedge funds to invest.
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One of Birchall’s great contributions to Musk’s cause has been helping him raise the $46.5 billion in his . In this operation he participated with a complex financing package that initially included a record loan of 12.5 billion dollars linked to Musk’s participation in Tesla. In this sense, as described by Bloomberg, he interacted with Wall Street to line up the loans that were key to securing the deal.
Last Thursday, Musk revealed that a group of investors was putting up more than $7 billion in shares, including billionaire Larry Ellison, venture capital firm Sequoia Capital and cryptocurrency exchange Binance. Well, Birchall was in charge of contacting them and working to promote the agreement.
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