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What is Elon Musk Net Worth ?

What is Elon Musk Net Worth

What is Elon Musk Net Worth?

Elon Musk is a South African-born Canadian-American businessman, inventor, and investor. Elon Musk has a net worth of $250 billion.

Though he wears many hats and is constantly topping his latest project, he is currently best-known for being the CEO and CTO of SpaceX, CEO and chief product architect of Tesla Motors, and chairman of SolarCity. He holds the record for being the richest person in the world and the richest person in modern history.

What is Elon Musk Net Worth

As of this writing, Elon Musk owns roughly 24% of Tesla’s outstanding shares and 43% of the privately-held SpaceX. In October 2021 Tesla’s market cap broke $1 trillion for the first time.

That same month, SpaceX raided money at a $100 billion valuation. At this point, Elon’s net worth teetered around $300 billion for the first time.

Early Life

Elon Musk was born June 28, 1971, in Pretoria, South Africa. Musk bought his first computer at the age of 10 and taught himself how to program it. When he was 12 he made his first software sale—a game he created called Blaster. At age 17, in 1989, he moved to Canada to attend Queen’s University but left in 1992 to study business and physics at the University of Pennsylvania.

Musk graduated with an undergraduate degree in economics and continued on to earn a second bachelor’s degree in physics then pursued a Ph.D. in energy physics. He dropped out of Stanford University, however, to become a part of the internet boom.

Personal Life

Elon has been married three times, 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 also been romantically involved with actress Amber Heard and Canadian musician Grimes. In May 2020, Grimes and Elon welcomed a baby boy named X Æ A-Xii.

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 topped $70 billion for the first time on July 10, 2020. At that point roughly $15 billion was attributable to the privately-held SpaceX and the remaining $55 billion was from Tesla.
  • On July 13, 2020 when Elon’s net worth hit $80 billion for the first time, $15 billion came from SpaceX and $65 billion came from Tesla.
  • In August 2020 two important factors pushed Elon’s net worth above $90 billion for the first time. First, in mid-August Tesla shares hit an all-time high of $1,900. At that level, the company’s total market cap was $350 billion. Elon’s 20% stake was worth $70 billion.
  • The second factor was an increased valuation of SpaceX which was officially confirmed on August 18, 2020. The fundraising round increased SpaceX’s private valuation to $46 billion, up from $36 billion. At a valuation of $46 billion, Elon’s 48% stake adds $22 billion in pre-tax wealth to Elon’s net worth.
  • On November 17, 2020, Elon’s net worth topped $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 topped $128 billion for the first time. At that point, he surpassed Bill Gates to become the second-richest person in the world for the first time. On that day he was $54 billion away from Jeff Bezos’ $184 billion net worth and his net worth had officially increased by $100 billion since January 1, 2020.
  • On January 7, 2021, Elon’s net worth hit $195 billion. On this day Elon eclipsed Jeff Bezos as the richest person in the world 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.

Success

Musk’s first company, Zip2 Corporation, was an online city guide. In 1999 a division of Compaq Computer bought Zip2 for $307 million in cash and $34 million in stock options. Also in 1999, Musk co-founded X.com, an online financial services/payments company.

An X.com acquisition the following year led to the creation of PayPal, as it is known today, and in 2002 PayPal was acquired by eBay for $1.5 billion in stock.

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Musk founded his third company, Space Exploration Technologies Corporation (SpaceX), in 2002 with the intention of building spacecraft for commercial space travel.

By 2008, SpaceX was well-established and NASA awarded the company the contract to handle cargo transport for the International Space Station—with plans for astronaut transport in the future.

Next was Tesla Motors, an automobile company dedicated to producing affordable, mass-market electric cars. Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning. Elon along with Ian Wright and J.B. Straubel was the company’s first employee and retroactively named co-founders.

Summary

Elon Musk’s net worth is $290 billion. As of this writing, that makes him one of the richest people on the planet. Musk’s fortune comes from his 24% stake in Tesla and his 43% stake in the privately-held SpaceX. Musk is relatively cash-poor, and he has an estimated $500 million worth of debt owed to Morgan Stanley and Goldman Sachs.

What is Elon Musk Net Worth ? What is Elon Musk Net Worth ? What is Elon Musk Net Worth ? What is Elon Musk Net Worth ?

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