Elon Musk is a South African-born American businessman, inventor, and investor. Elon Musk Net Worth is estimated at $200 billion. Though he often wears many hats and works nonstop to meet his latest objectives, Elon Musk is currently the most widely known as the CEO and chief technology officer of SpaceX, CEO and chief product architect of Tesla Motors, and chairman of SolarCity. Elon Musk holds the record for being the richest person in the world and the richest person in modern history.
As of October 2021, Elon Musk had roughly 24 percent of Tesla’s outstanding shares and 43 percent of the privately held SpaceX. By October 2021, Tesla’s market capitalization exceeded $1 trillion for the first time. That same month, SpaceX raised money for over $100 billion. At that point, Elon’s net worth approached $300 billion for the first time.
Elon Musk Net Worth
|Net Worth:||$200 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|
- Sold first company Zip2 to Compaq in 1999 for $340 million
- Invested a portion of his windfall into X.com
- X.com became Paypal. Paypal sold to eBay in 2002 for $1.5b
- Owns 48% of SpaceX which is valued at $46 billion
- Owns 22% of Tesla
- Net Worth increased by $142 billion in 2020
- Once testified that he is “cash poor” and has $500 million worth of debt
- Once owned $100 million worth of real estate
- Sold six LA homes in 2020
Net Worth History
- On January 1, 2020, Elon’s net worth was $28 billion. He ended 2020 with a net worth of $170 billion.
- Elon’s net worth exceeded $70 billion for the first time on July 10, 2020. At that time, his net worth was about $15 billion due to private investment in SpaceX, while the remainder was attributable to Tesla.
- On July 13, 2020, Elon’s net worth exceeded $80 billion, $15 billion was derived from SpaceX, and $65 billion was derived from Tesla.
- In August 2020, two factors prompted Elon’s net worth to surpass $90 billion. Two, in mid-August, Tesla shares hit an all-time high of $1,900 per share. Simultaneously, the total market value of Tesla reached $350 billion. Elon’s 20 percent stake was valued at about $70 billion. The second factor was the increase in SpaceX’s stock valuation, which was formally announced in mid-August. SpaceX’s private valuation increased by $46 billion due to the fundraising round, up from $36 billion. At a value of $46 billion, Elon Musk’s 48 percent stake added $22 billion to his net worth.
- On November 17, 2020, Elon’s net worth surpassed $100 billion for the first time. At that point, he surpassed Mark Zuckerberg to become the third-richest person on the planet for the first time.
- On November 24, 2020, Elon’s net worth exceeded $128 billion for the first time. He was then the second-richest person in the world, with $54 billion left before Jeff Bezos’s net worth of $184 billion. His net worth had risen $100 billion since the new year began.
- On January 7, 2021, Elon’s net worth reached $195 billion. On this day, Elon eclipsed Jeff Bezos as the world’s richest person for the first time.
- On January 8, 2021, Elon ended the week with a net worth of $210 billion after starting the week worth $170 billion.
- In October 2021, when Tesla’s market cap topped $1 trillion, and SpaceX’s valuation was $100 billion, Elon’s net worth was $300 billion.
- On November 1st, 2021, When Tesla’s market cap topped $1.2 trillion, Elon Musk’s net worth was $335 billion.
Elon does not take a salary as CEO of Tesla. Instead, he has an exceptionally unusual and highly lucrative bonus plan tied to the business’s market cap milestones. The bonus plan was devised during the peak of the company’s worth when Tesla was worth around $50 billion. There are 12 incrementally-enhanced progress indicators in developing the company’s worth to $50 billion.Elon achieved every single 100 billion milestone in that corporation’s incentive package and earned all 100 billion. Shares related to that incentive package are released quarterly after the Board of Directors confirms the same milestone was reached.
Elon Musk was born in Pretoria, South Africa, on June 28, 1971. Musk began programming at ten and made his first software sale, a game he created called Blaster when he was 12. At 17, he moved to Canada to attend Queen’s University but left after one semester to study business and physics at the University of Pennsylvania. Musk got an economics undergraduate degree and later a master’s degree in physics, followed by a Ph.D. in energy physics. He abandoned Stanford University to become involved in the internet boom.
Musk’s first company, Zip2 Corporation, was an online city guide. In 1999, a division of Compaq Computer purchased Zip2 for $307 million in cash and $34 million in stock options. Also, in 1999, Musk co-founded X.com, an online financial service payments company. The X.com acquisition the year after led to the formation of PayPal, as it is known today, and in 2002 PayPal was acquired by eBay for $1.5 billion in shares.
In 2002, Elon Musk founded his third company, Space Exploration Technologies Corporation (SpaceX), intending to build spacecraft for commercial space travel. Space X was recognized as part of the 2008 contract with NASA for providing cargo transport services for the International Space Station.
Tesla Motors is an American company that produces affordable, mass-market electric vehicles. Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning. Elon, Ian Wright, and J.B. Straubel were the first four workers, and Tesla retroactively named them co-founders.
Elon Musk challenged him with a $226 million investment in Tesla Motors and a close business relationship with Daimler, the manufacturer of Mercedes-Benz vehicles, which initiated the entrepreneur’s initial public offering in June 2010. Elon Musk made history in 2012 when he and SpaceX launched the SpaceX Falcon 9 rocket into space. In 2013, Elon Musk presented a concept called hyperloop, a new method of transportation capable of traveling faster than 700 mph between major urban centers. In contrast to rail, the waterfront would rely on tubes. Musk claimed it might take 7 to 10 years to build the hyperloop, test it, and put it to work.
Elon Musk Net Worth Details
As of this writing, Elon Musk owns 43% of rocket maker SpaceX and 24% of Tesla.
In a 2019 legal deposition, Musk stated that he’s a little cash-poor and that his 99 personal fortune is attributed to investments in Tesla and SpaceX. The lawsuit also revealed that Musk’s base pay at Tesla is $56,380 annually. He shuns such a paycheck over the years. At the time of the lawsuit, Musk had about $500 million in debt held by the majority at Morgan Stanley and Goldman Sachs. Bank of America for at least $60 million of this debt was home mortgage-related. He’s since disposed of many of his properties and re-settled this mortgage debt.
He reportedly burned through all of his liquid cash from previous business sales to launch SpaceX.
Tesla Compensation Plan
In January 2018, the Tesla board of directors announced Tesla C.E.O. Elon Musk’s new compensation plan, which would pay Musk up to $100 billion, and called for it to be taken at Tesla’s stockholder vote. The first tranche of stock options was delivered once Tesla had a market capitalization of $100 billion (more than double the value when the plan was announced). After that, Elon obtained another tranche every time the company’s market cap increased by $50 billion.
If he did not achieve any of the 12 tranches, he would have received zero compensation.
In only three years, ElonTM unlocked all twelve tranches of the compensation plan as Tesla’s market capitalization continued to exceed $1 trillion for the first time in October 2021.
Elon has been married thrice, twice to the same woman, actress Talulah Riley; he was married to Canadian author Justine Wilson from 2000 to 2008. They share five sons. He has likewise been romantically linked with actress Amber Heard and Canadian musician Grimes. In 2020, Grimes and Elon Musk welcomed a new boy named X Tex A-Xi. Together they welcomed a new child as an adult surrogate in December 2021.
In the middle of the next year, Tesla CEO Elon Musk also welcomed a set of twins born to one of his Neuralink executives.
In total, he has 10 children as of this writing.
The Elon Musk affair of December 2021 was detailed in the July 2022 edition of The New Yorker. As a result of it, venture capitalist Sergey Brin filed for divorce, filing for divorce from his wife of four years, Nicole Shanahan. Sergey had long supported Elon Musk. He had invested in many Musk companies, including being one of the first investors in Tesla.
Real Estate Holdings
Elon previously had a net worth of $100 million in real estate in California alone. The place of California is the Northern California town of Hillsborough, where he still owns a 100-year-old, 16,000-square-foot house on approximately 50 acres. He purchased the house for $23.364 million in 2017.
In Southern California, he was once the owner of a Bel-Air home with a footprint of 20,000 square feet. He purchased that home for $17 million in 2012, then sold it for $20 million in 2015, followed by additional acquisitions with identical holdings. He purchased a home in Bel-Air for $24.25 million in 2016. In 2020, Elon stunned the world by announcing his intention to sell all worldly possessions, starting with his LA homes. True to his word, he proceeded to sell off each home. He sold four in one month to a single buyer in December 2020.