What is Elon Musk Net Worth?
Elon Musk, a South African born Canadian-American businessman inventor, investor and inventor. Elon Musk has a net worth of $264 billion. While he is a multifaceted person and is always atop the latest projects,
Elon Musk is currently most famous for his role as the CTO and CEO of SpaceX Chief Executive Officer and product designer of Tesla Motors and chairman of SolarCity. He is the holder of the title of being the most wealthy individual in the entire world and also the highest-earning person in recent time.
At the time of writing, Elon Musk owns roughly 24 percent in Tesla’s shares outstanding. He also owns 43percent of privately held SpaceX. In October 2021 , Tesla’s market cap surpassed one trillion dollars for the first time. The same month SpaceX took over money with 100 billion dollars. At this point, Elon’s net worth was estimated at $300 billion for the first time in.
Net Worth Histories
- As of January 1, 2020, the net worth of Elon stood at $28 billion. He finished the year with an estimated net worth of $170 billion.
- Elon’s net worth exceeded $700 billion, for the first time since the 10th of July in 2020. At that time, around $15 billion was attributed to the privately held SpaceX and the rest of $55 billion was derived from Tesla.
- On the 13th of July the 13th of July, 2020, Elon’s net worth reached $180 billion, for the very first time in his life, $15 billion was derived directly from SpaceX as well as $65 billion was from Tesla.
- In August 2020, two key events pushed Elon’s worth to $90 billion for first time. In mid-August, Tesla shares reached a record highest of $1,900. The total market value of the company stood at $350 billion.
- Elon’s 20 percent stake was worth around $70 billion. The other reason was an increase in the valuation of SpaceX which was confirmed on August 18 20th, 2020. The SpaceX fundraising round boosted its valued at $46 billion an increase by $36 billion. With a valuation at $46 billion the 48 percent stake brings $22 billion of pre-tax wealth to the net worth of Elon.
On the 17th of November, 2020 Elon’s net worth hit 100 billion, for the very first time. Elon then surpassed Mark Zuckerberg to become the third richest person on earth at the time for the first time.
- On the 24th of November the value of 2020’s Elon’s net worth was $128 billion for only the second time. In that same year, he beat Bill Gates to become to the second richest person on earth in the world for the very first time. At the time, the billionaire was just $54 billion of Jeff Bezos’ $184 billion net worth. In addition, his net worth had officially risen by $100 billion since the 1st of January in 2020.
- On the 7th of January, 2021 Elon’s net worth surpassed $195 billion. This day Elon beat Jeff Bezos as the richest person on earth for the first time.
- On the 8th of January, 2021 Elon finished the week with the sum of $210 billion, after having started the week with $170 billion.
- In the month of October, 2021, when Tesla’s market value topped $1 trillion and SpaceX’s market cap was $100 billion Elon’s net worth was $300 billion.
- The 1st November of 2021, when Tesla’s market capitalization surpassed $1.2 trillion, Musk’s net worth was $335 billion.
Elon has no salary as the CEO of Tesla. Instead, he is a part of an extraordinary and highly profitable bonus plan that is linked to the company’s market capitalization milestones. The time the plan was devised, Tesla was worth around $50 billion.
There are 12 milestones total which are based upon 50 billion increases in market cap. Elon has met every milestone, and thus qualified to receive the entire $100 billion of this bonus program. Shares associated with the bonus plan are released quarterly following Elon’s Board of Directors confirms the achievement of the milestone.
Elon Musk was born on June 28th 1971. He was born in Pretoria, South Africa. Musk purchased his first computer when he was 10 and learned the basics of programming. At the age of 12,
He launched his first software sales–a game he invented known as Blaster. At the age of 17, around 1989, he emigrated to Canada to study at Queen’s University, but left in 1992 to pursue a degree in business and Physics within The University of Pennsylvania. Musk earned an academic degree from the department of economics. He continued to earn a master’s degree in physics. He then went on to pursue the doctorate in energy Physics. Musk quit Stanford University, however, to be a part of the explosion of internet technology.
Musk’s first venture, Zip2 Corporation, was an online guide to cities. In 1999, a division of Compaq Computer purchased Zip2 with cash worth $307 million and $34 million of stock options. In 1999 Musk founded X.com the online payment and financial services company. The X.com acquisition in 2001 resulted in the creation of PayPal the way it is now known, and in 2002, PayPal was bought in 2002 by eBay to the tune of $1.5 billion in shares.
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Musk created his third business, Space Exploration Technologies Corporation (SpaceX) in 2002, with the aim of developing spacecraft that could be used for commercial travel in space. In the year 2008 SpaceX had grown and NASA granted SpaceX the contract to manage the transportation of cargo to the International Space Station, with plans for the transport of astronauts in the near future.
The next step was Tesla Motors, an automobile firm that focuses on producing low-cost electric vehicles that are mass-market. Tesla was established on the 23rd of March 2003, in 2003 by Martin Eberhard and Marc Tarpenning. Elon together alongside Ian Wright and J.B. Straubel were among the first employees. They were also named co-founders retroactively.
With an ownership stake acquired through Daimler along with a alliance in partnership with Toyota, Tesla Motors launched its first public offering in the month of June in 2010 which raised $226 million.
The year 2012 was the year that Musk along with SpaceX achieved a milestone when they began to launch their Falcon 9 rocket into space using an unmanned spacecraft. In 2013, Musk unveiled the concept of the development of a new mode of transportation dubbed the Hyperloop designed to travelling at speeds exceeding 700 mph for commuting between cities. In contrast to railroads which are used for transportation,
the Hyperloop will utilize tubes to transport passengers. Musk claims that his Hyperloop could take anywhere from seven to 10 years build as well as tested before it is ready to use.
Elon Musk Net Worth Details
As of the time of time of writing Elon Musk owns 43 percent of the company that makes rockets SpaceX and 24 percent of Tesla.
In a deposition before the court in 2019, Musk explained that he actually has some cash issues and that most of his wealth is due to shares of Tesla or SpaceX. The lawsuit also disclosed that Musk’s base pay in Tesla was $56,380.
Musk declines his salary many years. In the year of his suit Musk had $500 million of debt, with the bulk due the Morgan Stanley and Goldman Sachs. At least 60 million in his Morgan Stanley debt was home mortgage-related. The company has since sold all of his houses and paid back the mortgage.
He was reported to have burned through all of his liquid money from business sales in order to create SpaceX.
(Photo by Pascal Le Segretain/Getty Images)
Tesla Compensation Plan
In January of 2018 the Tesla board of directors announced an incentive plan for Musk which would eventually valued at $100 billion. The plan allowed Musk to be granted as much as $100 billion in stock options over the course of a decade in 12-tranches. The first tranche of options were awarded once Tesla has a market capitalization at $100 billion (roughly more than double what it was when the plan was first announced).
Then, Elon received another of the tranches each when the company increased its market cap by $50 billion.
If he didn’t complete one from the twelve tranches the 12 tranches, he would have been awarded nothing.
In just three years, Elon was able to unlock the 12 of the tranches of the compensation plan . Tesla’s market cap grew over $1 trillion for the first time in the month of October 2021.
Elon was wed three times. and twice in the same relationship to the woman, actor Talulah Riley. The couple was Canadian writer Justine Wilson from 2000 to the year 2008. They have five sons. Elon is also romantically linked with actor Amber Heard and Canadian musician Grimes.
In May of 2020, Grimes and Elon welcomed their first child, a boy who was named X A-Xii. They welcomed their second baby via surrogate in December 2021.
In the late 2021 Elon ALSO welcomed a set of twins, which were born in the home of an of his Neuralink executives.
In all, he has 10 children at the time of this writing.
In the summer of 2022, it was said that Elon Musk was involved in an affair in the month of December 2021, with his wife Google Co-Founder Sergey Brin.
The affair was reportedly the reason for Sergey declaring separation from wife for four years Nicole Shanahan. It was a painful experience, Sergey had long-been one of Musk’s most loyal supporters. He was a shareholder in several Musk businesses, and was one of the early to invest in Tesla.
Real Estate Holdings
Elon was once the owner of the sum of $100 million worth of real property located in California alone. The Northern California town of Hillsborough Elon still owns an old, 100-year-old home that covers nearly 50 acres. The house was purchased for $23.364 million in 2017.
Then in Southern California he at one time owned six houses located in Bel-Air, a Los Angeles neighborhood of Bel-Air. The Bel-Air footprint was comprised of an 20,000-square-foot home that was bought at $17 million back in the year 2012.
He also had the 7,000 square-foot house that it bought at a price of $20 million, in the year 2015. Then there was an 9,300 square-foot home which he purchased in 2016 at $24.25 million. In the year 2000, Elon shocked the world with declaring his intention to get rid of all his personal belongings, beginning with his LA houses.
In keeping with his words Elon proceeded to auction every house. He sold four houses simultaneously to a single buyer in December of 2020.