Elon Musk Net Worth: Elon Musk is a South African-born Canadian-American businessman, inventor, and investor. Elon Musk has a net worth of $198 billion. Though he wears multiple jobs and is continually topping his next endeavor, he is currently best-known for being the CEO and CTO of SpaceX, the CEO and principal product architect of Tesla Motors, and the chairman of SolarCity.
He is the richest person in the world and the richest person in contemporary history. Elon Musk currently controls around 24 percent of Tesla’s outstanding shares and 43 percent of privately held SpaceX. Tesla’s market cap will surpass $1 trillion for the first time in October 2021. That same month, SpaceX raised $100 billion in funding. For the first time, Elon’s net worth hovered over $300 billion at this point.
Elon Musk Personal Life
Elon has been married three times, twice to the same wife, actress Talulah Riley. From 2000 to 2008, he was married to Justine Wilson, a Canadian author. They have five boys. He has also been romantically connected with actress Amber Heard and Canadian singer Grimes. Grimes and Elon are expecting a baby boy named X A-Xii in May 2020.
Elon Musk Early Life
Elon Musk was born on June 28, 1971 in Pretoria, South Africa. Musk purchased his first computer at the age of ten and taught himself how to programme. When he was 12 years old, he sold his first piece of software, a game named Blaster.
In 1989, at the age of 17, he came to Canada to attend Queen’s University, but he departed in 1992 to study business and physics at the University of Pennsylvania. Musk earned an undergraduate degree in economics before going on to acquire a second bachelor’s degree in physics and then a PhD in energy physics. He left out of Stanford University, though, to become a part of the internet boom.
Elon Musk Net Worth
|Net Worth:||$198 Billion|
|Date of Birth:||Jun 28, 1971 (51 years old)|
|Height:||6 ft 2 in (1.88 m)|
|Profession:||Aerospace Engineer, Engineer, Entrepreneur, Investor, Designer, Businessperson, Inventor, Film Producer|
Elon Musk Net Worth History
Elon’s net worth was $28 billion on January 1, 2020. He had a net worth of $170 billion at the end of 2020. On July 10, 2020, Elon’s net worth surpassed $70 billion for the first time. At the time, around $15 billion was attributed to privately held SpaceX, with the remaining $55 billion attributed to Tesla.
At launch pad pic.twitter.com/qFVpVkLa9v
— Elon Musk (@elonmusk) August 6, 2022
When Elon’s net worth surpassed $80 billion for the first time on July 13, 2020, $15 billion came from SpaceX and $65 billion from Tesla. Elon Musk’s net worth surpassed $90 billion for the first time in August 2020, thanks to two major events. First, Tesla shares reached an all-time high of $1,900 in mid-August.
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The company’s overall market cap was $350 billion at the time. Elon’s 20% ownership was valued at $70 billion. The second element was a rise in SpaceX’s valuation, which was formally announced on August 18, 2020. SpaceX’s private valuation grew from $36 billion to $46 billion as a result of the fundraising round. Elon’s 48 percent ownership, valued at $46 billion, adds $22 billion in pre-tax riches to his net worth.
Elon’s net worth surpassed $100 billion for the first time on November 17, 2020. At the moment, he had eclipsed Mark Zuckerberg to become the world’s third richest person for the first time. Elon’s net worth surpassed $128 billion for the first time on November 24, 2020. For the first time, he surpassed Bill Gates to become the world’s second-richest person.
He was $54 billion short of Jeff Bezos’ $184 billion net wealth on that day, and his net worth had climbed by $100 billion since January 1, 2020.Elon’s net worth will reach $195 billion on January 7, 2021. Elon Musk surpassed Jeff Bezos as the world’s richest person for the first time on this day.
Elon completed the week with a net worth of $210 billion on January 8, 2021, after beginning the week with a net value of $170 billion. Elon’s net wealth was $300 billion in October 2021, when Tesla’s market cap surpassed $1 trillion and SpaceX was valued at $100 billion. Elon Musk’s net worth was $335 billion on November 1st, 2021, when Tesla’s market valuation surpassed $1.2 trillion.
Elon Musk Net Worth Details
Elon Musk controls 43 percent of SpaceX and 24 percent of Tesla as of this writing. Musk explained in a 2019 legal deposition that he is actually rather cash-strapped and that shares in Tesla and SpaceX account for 99 percent of his personal worth. According to the lawsuit, Musk’s base compensation at Tesla is $56,380. In most years, he declines the salary.
Musk had $500 million in debt at the time of the litigation, with the majority owed to Morgan Stanley and Goldman Sachs. At least $60 million of his Morgan Stanley debt was tied to home mortgages. He has now sold most of his properties and paid off his mortgage.
Elon Musk Tesla Salary
Elon is paid nothing as Tesla’s CEO. Instead, he has a highly unusual and incredibly profitable bonus structure related to the company’s market cap milestones. Tesla was worth roughly $50 billion when the idea was devised.
There are 12 total milestones based on market cap rises of $50 billion. Elon met every single milestone and thus qualified to collect the entire $100 billion incentive plan. This plan’s shares are released quarterly once the Board of Directors confirms that the milestone has been met.
Elon Musk Success
Musk’s first startup, Zip2 Corporation, was an online city guide. Zip2 was purchased in 1999 by a division of Compaq Computer for $307 million in cash and $34 million in stock options. Musk co-founded X.com, an online financial services/payments startup, in 1999.
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The next year, an X.com acquisition resulted in the formation of PayPal, as it is known today, and in 2002, PayPal was acquired by eBay for $1.5 billion in stock. Musk started his third firm, Space Exploration Technologies Corporation (SpaceX), in 2002 with the purpose of developing spaceships for commercial space travel.
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By 2008, SpaceX had established itself, and NASA awarded the corporation the contract to handle cargo transport for the International Space Station, with intentions for astronaut transport in the future. Tesla Motors was up next, a car manufacturer focused to manufacturing affordable, mass-market electric vehicles.
Martin Eberhard and Marc Tarpenning launched Tesla in 2003. Elon, Ian Wright, and J.B. Straubel were the company’s initial workers and were subsequently dubbed co-founders. Tesla Motors raised $226 million in its first public offering in June 2010, with Daimler taking an interest in the company and a strategic relationship with Toyota.
Musk and SpaceX made history in 2012 when they launched their Falcon 9 rocket into orbit with an unmanned capsule. In 2013, he unveiled a notion for a new mode of transportation called the Hyperloop, which would travel at speeds of up to 700 mph between major cities. The Hyperloop, as opposed to railroads, would employ tubes for transportation. Musk estimates that the Hyperloop will take 7 to 10 years to build, test, and be ready for usage.