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Elon Musk
  • Net Worth : $201 Billion
    0.00%
    Real Time Net Worth as of 2024/02/27
  • Wealth Source : Tesla, SpaceX
  • Industry : Automotive
  • Date of Birth : 1971/06/27
  • Age : 52
  • Gender : Male
  • Citizenship : United States
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Elon Musk
  • Net Worth : $201 Billion
    0.00%
  • Wealth Source : Tesla, SpaceX
  • Industry : Automotive
  • Date of Birth : 1971/06/27
  • Age : 52
  • Gender : Male
  • Citizenship : United States
People in Automotive

Elon Musk Net Worth 2024

Year Net Worth

Elon Musk has gained recognition as a prominent figure in the corporate world through his successful launch of innovative and advanced technological ventures.

This includes Tesla, the renowned ele­ctric car manufacturer, and SpaceX, his groundbreaking ve­nture in space exploration.

As of July this year, according to Bloomberg, Musk achieved the highest rank as the most affluent individual in the whole world, primarily based on his approximately 13 percent ownership in Tesla, which was worth more than $107 billion.

However, Musk has garnered success with a distinct style of managing businesses that has often been controversial. In 2022, he made an agreement to purchase the social media giant, Twitter, with a hefty price tag of over $44 billion, ahead of trying to put a spanner in the works.

Consequently, he agreed to close the deal with its original terms until a Deleware trial was ready to begin.
It would be apt to take a closer look at SpaceX pioneer Elon Musk, which entails delving into his early beginnings and the pertinent information about his most outstanding investments.

Elon Musk biography

Born to an engineer father and a nutritionist mother in South Africa, Musk, 17, left home for college in Canada to escape the apartheid-era mandatory army service.

He later obtained degrees in physics and economics from the University of Pennsylvania’s Wharton School. Stanford University saw him as a student for a couple of days until he gave up on pursuing his main passions: the Internet, clean energy, and space.

His first business venture, Zip2, was created in 1995 and sold for $300 million four years later. This income allowed Musk to found X.com, an online payment system that eventually merged with PayPal and was sold to eBay for $1.5 billion in 2002.

He then founded SpaceX, chosen by NASA to take on the space shuttle’s role of supplying the International Space Station. Soon after, Tesla came to life, producing the world’s first all-electric, zero-emission sports car in 2010. That same year, Tesla sold stocks in a public offering.

In 2012, Musk co-founded SolarCity, a provider of solar power equipment, with a public offering. Tesla bought the company in 2016.

In April 2012, Musk pledged to join Warren Buffett’s Giving Pledge. In July 2020, Tesla became the world’s most valuable carmaker, leading to Musk becoming the most wealthy man alive in January 2021. Late in 2021, Tesla moved its headquarters from California’s Palo Alto to Austin, Texas.

April 2022 saw Musk make a $44 billion offer to buy Twitter Inc., after which he bought the social media firm in October.

Elon Musk is a South African business mogul who acquired Canadian and American citizenship through naturalization.

With a net worth of over $235 billion, Musk is celebrated for his entrepreneurial successes, such as Tesla Motors, where he is the CEO, as well as SpaceX and SolarCity, where he serves as the chairman.

He has achieved a historical record as the world’s wealthiest and the richest person in modern history.
Musk presently owns 24% of the outstanding shares of Tesla and 43% of the privately held SpaceX.

Not long ago, Tesla’s market cap was breaking records at the $1 trillion mark, while SpaceX’s valuation presently stands at $100 billion.

Consequently, Musk’s net worth has reached the $300 billion threshold.

elon musk net worth - comparewise

Elon Musk’s wives and kids

Elon Musk’s romantic escapades are shrouded in an aura of perplexity. His amorous entanglements have traversed a labyrinthine path, leaving many questions unanswered.

Among his notable companions are Justine Musk, whom he fortuitously encountered during his academic stint at Queen’s University in Ontario, Canada, and Talulah Riley, whose union was forged amidst the dimly lit ambiance of a London tavern.

Their marital journey has been a rollercoaster, marked by divorces, remarriages, and ultimate separation.
During his eight-year marital sojourn with Justine, five enigmatic offspring came into existence.

Presently, Musk’s romantic status is an enigma. Reportedly, his liaison with actress Natasha Bassett dissolved last year, adding another layer of intrigue to his romantic history.

Before this, Musk briefly intertwined his life with actress Amber Heard in 2017, during her tumultuous divorce from Johnny Depp.

Their initial encounter occurred on the glitzy red carpet of the 2016 Met Gala, an event Johnny Depp was anticipated to attend but ultimately did not.

Subsequently, Musk embarked on a cryptic romantic journey with musician Grimes in 2018, marked by enigmatic breakups and reconciliations. They now coexist as parents to two children with enigmatic names, X, A-Xii, and Y.

In a covert turn of events, Musk welcomed twins in November 2021 with one of his top executives, Shivon Zilis, further adding to the enigma surrounding his personal life.

Elon Musk’s milestones of achievement

Elon Musk’s life is a whirlwind of innovation and business prowess, a true tech titan’s odyssey.

YearMilestoneAchievement
1971Elon Musk was born in Pretoria, South Africa
1981He bought his first computer at age of 10 
1983Creates and sells his first software gameBlastar 
1999Develops an online payment systemX.com
2000SpaceX established near LAX Cofinity
2002SpaceX established near LAX$1.5 billion 
2003Tesla begins designing Tesla Roadster
2008SpaceX delivers first satellite to space
2010Tesla Motors trades on NASDAQ 
2022Purchases Twitter Inc.$44 billion 

Elon Musk’s net worth

Forbes reveals a perplexing revelation about Elon Musk, suggesting his current wealth hovers at a bewildering $251.1 billion. The bulk of his riches is enigmatically entangled with stakes in Tesla (TSLA) and the enigmatic SpaceX.

As of the moment, the cosmos bestows upon Elon Musk the title of the world’s wealthiest individual, followed by the mysterious Arnault family, guardians of Moët Hennessy Louis Vuitton (LVMHF), and the enigmatic tycoon Jeff Bezos of Amazon (AMZN).

Musk’s age-old adversary, the enigmatic Mark Zuckerberg of Meta Platforms (META), mysteriously clinches the 8th spot on this cryptic list, amassing a mind-boggling fortune of $103.5 billion.

Presently, Musk’s existence is inundated with perplexity and a full spectrum of obligations. In addition to his enigmatic role as CEO at Tesla and SpaceX, he has conjured entities like The Boring Company and the enigmatic X Corp.

And who can overlook the labyrinthine saga of his controversial takeover of Twitter, a cryptic social media platform?

Elon Musk’s salary, earnings, and assets

In 1995, Elon Musk and his brother launched a software company. Later, COMPAQ acquired this company. Following the sale, Elon received $22 million thanks to his 7% ownership stake.

In 1999, he invested $10 million from this windfall. He then established X.Com, a financial services company.

A year later, X.Com merged with a company offering money transfer services, eventually becoming the well-known PayPal. In 2002, Elon Musk purchased eBay for $1.5 billion.

Elon Musk’s diverse investment portfolio

Elon Musk’s financial ventures encompass a range of cutting-edge technology firms, several of which have ascended to the echelons of America’s largest corporations.

CompanyMarket ValueEmployees/Workforce
TeslaValued $850 billionApproximately 127,855 employees
SpaceXValued  $850 billionApproximately 11,000 127,855 employees
The Boring CompanyValued $5.7 billionApproximately 200 employees
NeuralinkValued $5 billionApproximately 500 employees
PaypalValued  $82 billionApproximately 29,900 employees

*Disclaimer: The values for Tesla and PayPal are accurate as of July 24, 2023. SpaceX’s valuation is current as of June 2023. For The Boring Company, the valuation is as of April 2022, and for Neuralink, it is as of June 2023.

Tesla

In the year of our digital era, 2003, Tesla came into existence, shrouded in an aura of electric possibilities. Elon Musk entered Tesla’s mystique as an investor in 2004 and ascended to the throne as chairman of its mystical board of directors. In due course, he took on the mantle of CEO in 2008.

In 2008, Tesla unveiled its inaugural automotive creation, and in 2012, the world gazed in wonder as the Model S emerged, acclaimed as the supreme chariot by the sages at Consumer Reports.

Tesla ascended to a market valuation that surpassed $1 trillion in the autumn of 2021, following a summer of boundless mysticism, though it met a temporal descent in 2022.

Elon Musk retains a nebulous 13 percent stake in Tesla, casting a profound influence upon the firm’s inner sanctum.

He helms the enigmatic realms of product design, engineering, and the worldwide craftsmanship that births the company’s electric chariots, as well as the arcane realms of battery and solar energy creations.

In a curious interlude in 2018, a fateful event unfolded. Musk and Tesla entered a curious pact, each surrendering $20 million to placate the shadowy realm of securities fraud.

A saga spun from Musk’s cryptic tweet, proclaiming his intent to shepherd the company into the enigmatic realms of private ownership at the mystical price of $420 per share, with claims of secured funding that remained elusive in the realm of reality.

As a result, Musk was compelled to step down from the exalted seat of Tesla’s chairmanship, a penance of three years imposed by the secretive settlement.

PayPal/X.com

In the annals of digital history, X.com emerged. Elon Musk, fresh from selling Zip2, a software entity that aimed to assist newspapers in forging online city guides, embarked on this enigmatic endeavor. X.com was born from the cocoon of his creative spirit.

In a curious twist, it merged with Confinity, a mysterious money-moving entity, culminating in the enigmatic birth of PayPal.

When eBay swallowed PayPal in 2002 for a staggering $1.5 billion, Musk, clutching a perplexing 11.7 percent stake, ultimately pocketed around $180 million after the mystifying tax dance.

This ethereal transaction bestowed immense wealth on the founders and their early adherents.
This elite circle, which included the likes of the enigmatic investor and political oracle, Peter Thiel, and the enigmatical CEO of Affirm, Max Levchin, was christened the “PayPal Mafia.”

SpaceX

SpaceX, helmed by Elon Musk, occupies the cosmic frontier. They craft rockets and vessels destined for voyages to Earth’s orbit and, intriguingly, distant celestial bodies.

Mr. Musk harnessed the lion’s share of his PayPal windfall in 2002 to birth this stellar endeavor. They’ve even garnered contracts from NASA and the U.S. Air Force for their rocketry expertise.

Behind SpaceX’s orbital ambitions lies Musk’s personal stake, a notable 42 percent, held within the sanctum of a trust, as divulged by a meticulous Bloomberg examination in 2022.

DeepMind Technologies

The mysterious realm of DeepMind Technologies emerged from the shadows in 2010, with none other than Elon Musk himself gracing it with his investments.

This enigmatic company birthed AI systems that challenged the very essence of human gaming prowess. Musk, with an eerie prescience, raised a haunting alarm about the lurking perils AI posed to our very civilization.

In a plot twist that would confound even the most astute detectives, Google, the digital behemoth, swooped in and acquired DeepMind in 2014.

A whopping $600 million exchanged hands, or perhaps digits, in this clandestine transaction.

Neuralink

In the labyrinth of innovation, Neuralink threads the needle. Their mission: forge brain-machine interfaces boasting colossal bandwidth to meld the human mind with computers.

The year 2021 witnessed a spectacular $205 million funding feat, courtesy of an illustrious cast of venture capitalists and investors, Google among them.

Musk’s vision for Neuralink bears dual facets. Firstly, to extend a helping hand to those grappling with brain injuries in the near future.

Secondly, to erect bulwarks against the ever-looming specter of artificial intelligence that could imperil humanity on the distant horizon.

In the grand scheme of Musk’s ventures, Neuralink emerges as a pint-sized player, housing fewer than 500 talented minds.

The Boring Company

The Boring Company, not content with the mundane, endeavors to infuse velocity and affordability into tunneling technology while also orchestrating an electrifying public transit symphony.

Their operatic debut took the form of a 1.15-mile tunnel in Hawthorne, California—a crucible for research and development.

Presently, they are laboring on the “Vegas Loop,” a public transportation marvel poised to serve the Las Vegas Convention Center.

In the annals of valuations, The Boring Company scaled dizzying heights in April 2022, as it commanded a staggering $5.7 billion during its latest funding escapade.

The guardians of this treasure chest were none other than the venerable Vy Capital and Sequoia Capital, luminaries of the venture capital realm.

SolarCity

In the cosmic theater of enterprises, SolarCity stepped onto the stage in 2006, co-founded by two of Musk’s own kin, shrouding itself in the nebulous cloak of solar energy endeavors.

Musk, the enigmatic puppeteer, pulled strings from behind the scenes as a financial benefactor and puppet master on the company’s board.

SolarCity dazzled with its solar generation marvels, catering to denizens in residential, commercial, and industrial domains.

In a galactic merger that raised eyebrows, Tesla, Musk’s brainchild, announced a colossal $2.6 billion acquisition of SolarCity in 2016. Critics, like riddles in the dark, whispered of a bailout for SolarCity, a star flickering on the brink of financial oblivion.

Musk, veiled in inscrutable shadows, distanced himself from the acquisition’s valuation, leaving the puzzle unsolved.

Yet, in a twist of fate worthy of ancient myths, Musk emerged victorious in a shareholder lawsuit connected to this enigmatic deal.

Elon Musk and Twitter timeline

DateEvent
April 4, 2022,  Elon Musk reveals he owns 9% of Twitter; Twitter’s stock soars
April 25, 2022, The Twitter accepts Musk’s $44 billion offer to acquire the company at $54.20 per share
July 8, 2022, Musk tries to back out of the deal, citing concerns about fake accounts on Twitter
July 12, 2022,Twitter takes legal action against Musk to enforce the merger agreement
July 19, 2022,A Delaware judge fast-tracks Twitter’s lawsuit, scheduling a trial for October
August 4, 2022,Musk countersues Twitter, accusing them of fraud
August 6, 2022, Musk challenges Twitter’s CEO to a public debate on fake accounts
October 4, 2022,Musk agrees to buy Twitter at the original price before the trial.
October 6, 2022A deadline of October 28, 2022, is set for the deal’s completion.
October 28, 2022 Musk finalizes the purchase and removes top Twitter executives.
May 12, 2023,  Musk announces Linda Yaccarino as Twitter’s new CEO.
June 5, 2023 The New York Times reports a 59% drop in Twitter’s ad sales from April 1 to early May compared to 2022
July 24, 2023,Musk introduces a new X logo for Twitter, signaling potential entry into financial services.

Elon Musk and cryptocurrency

Musk has fostered an active profile on the cryptocurrency scene as well. In February of 2021, Tesla announced that it had acquired $1.5 billion in Bitcoin and that they would be accepting it as payment for their products and services.

Then, when Elon was featured on Saturday Night Live, he referred to Dogecoin as a “hustle”, causing the digital coin to dip by 30 percent, and it has declined even further since.

Not long afterward, Tesla ceased to accept Bitcoin as payment, due to environmental worries. Back in July 2021, Musk remarked that Tesla will “most likely” start accepting it again, once it has become more eco-friendly.

However, in July 2022, Tesla said it had changed about 75 percent of its Bitcoin reserves into the USD, in spite of cheering its long-term promise a year previously.

Where Elon Musk’s wealth came from

Elon Musk, a South African by birth, emerged from a privileged family, and the eldest of three siblings. His father, Errol Musk, was a polymath extraordinaire, donning various hats as a politician, engineer, pilot, sailor, consultant, and property developer.

Rumors have swirled like enigmatic mist, suggesting that a fraction of the family’s fortune may have stemmed from their alleged stake in a Zambian emerald mine.

Yet, in a perplexing twist, Elon Musk adamantly refutes the very existence of this mine, despite his father’s insistence to the contrary.

To this day, an inscrutable veil shrouds any concrete evidence pertaining to labor practices or profits stemming from this enigmatic mine.

Musk’s maiden foray into the business realm took the form of a city guide software project, a collaborative endeavor with his brother Kimbal and Greg Kouri, aptly named Zip2.

The enigmatic twist here is that Errol Musk played the role of an angelic investor, injecting a cryptic sum of $28,000 into this venture’s embryonic stages.

Astonishingly, this enigmatic enterprise later metamorphosed into a bewildering jackpot, selling for a staggering $307 million.

Armed with $12 million from this labyrinthine windfall, Elon embarked on an adventure of unparalleled enigma by creating X.com, a direct bank that would eventually merge into the enigmatic juggernaut known as PayPal in the enigmatic year 2000.

Elon Musk’s net worth explained

Elon Musk now has a whole lot of 24% interest in the electric car maker Tesla as well as 43% of the space exploration firm SpaceX.

In a legal deposition back in 2019, Musk revealed that he doesn’t have a significant amount of cash readily available and that the vast majority, 99%, of his personal wealth can be attributed to his holdings in Tesla and SpaceX.

It’s interesting that he often refuses to accept his meager $56,380 yearly basic income from Tesla. Musk also owed $500 million in debt at the time, most of which was owed to banking firms like Morgan Stanley and Goldman Sachs.

Approximately $60 million of this debt was related to his home mortgage. However, he has since sold off most of his properties and repaid this mortgage debt.

It’s worth noting that he used up all of his available liquid cash from previous business sales to kickstart SpaceX.

Tesla’s compensation plan

In January 2018, the board of directors at Tesla introduced a compensation plan for Musk that could eventually be valued at $100 billion.

According to this concept, Musk would be granted 12 tranches of up to $100 billion in stock options over the course of a decade.

The first batch of options would be granted once Tesla’s market capitalization reached $100 billion, which was roughly double the value at the plan’s inception.

Subsequently, Musk would receive additional tranches every time the company’s market cap increased by $50 billion.

It’s important to note that if Musk failed to achieve any of the 12 tranches, he would receive no compensation.

Impressively, within just three years, Elon successfully unlocked all 12 tranches of the compensation plan, as Tesla’s market cap soared above $1 trillion for the first time in October 2021.

Personal life

Elon Musk’s personal life has seen its share of twists and turns. He has been married three times, with two marriages to actress Talulah Riley.

His first marriage was to Canadian author Justine Wilson, which lasted from 2000 to 2008, and they have five sons together.

Additionally, he has had romantic relationships with actress Amber Heard and Canadian musician Grimes. In May 2020, Elon and Grimes welcomed a baby boy named X Æ A-Xii and had a second child via surrogate in December 2021.

In late 2021, Elon also became a father to a set of twins, born to one of his executives at Neuralink.
As of now, Elon Musk has a total of 10 children.

In July 2022, it was reported that Elon had an affair in December 2021 with the wife of Google co-founder Sergey Brin.

This affair led to Sergey filing for divorce from his wife of four years, Nicole Shanahan. Surprisingly, Sergey was one of Musk’s most ardent boosters for a long time, investing in a number of his businesses, including Tesla, where he was one of the company’s first investors.

Real estate holdings

Elon Musk has had a substantial real estate portfolio in California, valued at $100 million at one point.
He still owns a 100-year-old, 16,000 square-foot mansion in Hillsborough, Northern California, that is situated on roughly 50 acres that he paid $23.364 million for in 2017.

He formerly had six houses in Bel-Air, Los Angeles, in Southern California. This includes a home­ spanning 20,000 square feet that was bought for $17 million in 2012.

Additionally, there is a 7,000-square-foot property purchase­d for $20 million in 2015 and a 9,300-square-foot residence­ acquired for $24.25 million in 2016.

In 2020, Elon made headlines by announcing his intention to sell all his worldly possessions, starting with his Los Angeles homes. True to his word, he sold all four of these homes to a single buyer in December 2020.

Factors that contributed to Elon Musk’s considerable wealth

The entrepreneurial spirit, inventive thinking, and risk-taking spirit have propelled Musk to success.
Musk has continuously faced significant obstacles and followed his convictions throughout his career, even when it appeared like the chances were against him.

His business triumphs with Zip2 and PayPal gave him the resources he needed to fund SpaceX, his grandiose project for space exploration.

Additionally, because to his success with Tesla, he has risen to the top of Forbes’ list of billionaires.
With the recent purchase of more than half of Twitter shares, Musk created headlines and raised many questions. He is currently the company’s top stakeholder with 9% of the shares.

Musk wants to give the social media platform a dose of his outspoken and unusual personality.
Since taking on le­adership, he has already re­moved controversial figures such as Andre­w Tate and has expressed a desire to bring the platform back for former President Donald Trump.

Elon Musk is undoubtedly a highly influe­ntial and brilliant figure of our time, despite the controversies surrounding his management style, twee­ts, and public statements.

His businesses in all sectors are making more impact on the world, whether it’s by making space travel more affordable­ or accelerating the transition to renewable energy sources.

10 key facts about Elon Musk to remember

  1. Wealthiest Individual in the World: As of July 2023, Elon Musk boasts an estimated net worth of approximately $232 billion, a remarkable achievement that positions him as the richest person globally, according to Bloomberg’s rankings. He holds a substantial lead of nearly $30 billion over the second-richest individual, Bernard Arnault, who serves as the Chairman of LVMH Moet Hennessy Louis Vuitton.
  2. Diverse Business Ventures: Elon Musk is the driving force behind five influential ventures that span various industries. These ventures are Tesla, SpaceX, Twitter, Neuralink, and The Boring Company. Each of these endeavors has contributed significantly to his prominence and wealth.
  3. South African Roots: Elon Musk’s journey began in Pretoria, South Africa, where he was born. His fascination with technology ignited at a young age when he acquired his first computer at the tender age of 10.
  4. Educational Background: The renowned University of Pennsylvania provided the millionaire South African-born American businessman with the opportunity to pursue his education. Here, Muest earned two degrees one in pure Physics and another one in Economics, thereby set the foundation for his future programs.
  5. Philanthropic Commitment: In 2012, Elon Musk became a part of Warren Buffett’s Giving Pledge, a philanthropic initiative that encourages billionaires to commit a substantial portion of their wealth to charitable causes, showcasing his dedication to making a positive impact on society.
  6. PayPal Co-Founder: Musk co-founded the online payment system PayPal, a pioneering platform that revolutionized online transactions. eBay recognized its significance and acquired PayPal in 2002 for an impressive $1.5 billion.
  7. Innovative Transportation Solutions:The ambitious project The Boring Company, which aims to build subterranean transportation tunnels, was launched with significant help from him. With the help of this project, future high-speed, long-distance travel will be made possible while urban congestion is reduced.
  8. Neuralink’s Vision: The revolutionary business Neuralink, whose CEO is Elon Musk, is working hard to create interfaces that can connect the human brain to computers. If successful, these interfaces might completely change how we interact with technology..
  9. Legal Challenges: Musk ran into legal difficulty in 2018 when he agreed to resolve Securities and Exchange Commission (SEC) accusations of securities fraud. These allegations stem from a tweet in which he stated he could take Tesla private for $420 per share with secured money, a claim that the SEC judged to be false.
  10. Twitter Ownership: In April 2022, Musk disclosed that he held a substantial 9 percent stake in Twitter. Shortly thereafter, he initiated a $44 billion deal to acquire the entire company. While initially seeking to withdraw from the deal, he ultimately decided to proceed with the acquisition, adhering to the original terms.

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FAQs about Elon Musk net worth

How much of Tesla does Elon Musk own?

Elon Musk is evidently recognized for his cooperation in establishing and contributing to the electric vehicle organization, Tesla. Subsequent to accepting a sizable sum for the buyout of PayPal by eBay,  Musk contributed $100 million to set up his future tech companies, SpaceX (in 2002) and Tesla (in 2004). Musk was offered and acknowledged the job of Chief Executive Officer at Tesla in 2008.

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December 28, 2023
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