Elon Musk totaled a $1 million McLaren with Peter Thiel riding shotgun — and hadn't bought insurance

The incident involved a McLaren F1, a rare and high-performance vehicle, which reportedly sustained significant damage. Peter Thiel, a prominent venture capitalist and early investor in Musk's companies, was a passenger at the time. The lack of insurance for such a valuable asset is notable, especially given the high-stakes nature of Musk's ventures and his public persona.

This event raises questions about personal asset management and risk mitigation strategies for individuals with substantial wealth. The McLaren F1 itself is a collector's item, with only around 100 produced. The financial implications of totaling such a car, coupled with the absence of insurance, provide a unique insight into the financial decisions of one of the world's most prominent entrepreneurs.