Elon Musk Net Worth 2023: Elon Musk is a famous businessman with a net worth is $219 Billion us dollars. Find more about his companies, net worth, biography, age, height, wife, family, and investments. Elon Musk cofounded six companies including electric car maker Tesla, rocket producer SpaceX and tunneling startup Boring Company.
|Net Worth:||$140 Billion|
|Date of Birth:||Jun 28, 1971 (51 years old)|
|Place of Birth:||Pretoria|
|Height:||6 ft 2 in (1.88 m)|
|Profession:||Aerospace Engineer, Engineer, Entrepreneur, Investor, Designer, Businessperson, Inventor, Film Producer|
What is Elon Musk’s net worth?
Elon Musk is a successful businessman, entrepreneur, and investor who was born in South Africa and now resides in Canada and the United States. Elon Musk has an estimated net worth of 140 billion dollars. Elon Musk has made the great majority of his income as the Chief Executive Officer of Tesla Motors, despite the fact that he wears numerous hats and is always striving to top his most recent initiative. In addition to this, he is well-known for his roles as chairman of SolarCity and CEO and CTO of SpaceX. He currently holds the title of being the richest person in the world as well as the richest individual in the history of the modern era.
As of the time of this writing, Elon Musk controls around 43% of privately held SpaceX and approximately 24% of Tesla’s outstanding shares. In October of 2021, Tesla’s market valuation became the first in the time to surpass $1 trillion. During the same month, SpaceX successfully raised money at a valuation of $100 billion. At this point, Elon’s net worth came dangerously close to passing the $300 billion mark for the first time.
It would appear that Elon Musk has always been a step or two ahead of the competition. When he was younger, he taught himself in computer programming by teaching himself. By the time he was 12 years old, he had already written the code for and sold his first computer game, Blastar. After completing his studies at Queen’s University in Ontario, he continued his education at the Wharton School of the University of Pennsylvania, where he earned degrees in both business and physics. He is now employed as a physicist. He then moved on to Stanford University to attend in a doctoral program in physics there, but he ultimately came to the conclusion that school was no longer a worthwhile pursuit. He did not waste any time getting started on his professional goals and left Stanford just two days after the start of the semester. His first business endeavor was the establishment of a software company by the name of Zip2, which he co-founded with his brother Kimbal Musk. Their principal offering was an internet-based city guide that catered to the publishing industry, most notably newspapers. This guide was designed to help people find information about local businesses. In 1999, the brothers parted ways with Zip2 and sold it to Compaq for a total of $million million (including cash and stock options). From that location, he went on to found the email payment company X.com. After that, he bought Confinity, the company that was responsible for running PayPal. Musk consolidated everything and rebranded it everything PayPal after the merger. Since that time, he has continued to start additional firms, the most notable of which are SpaceX, his aerospace design and development company, and Tesla Motors, the company that is responsible for a variety of electric sports vehicles that are becoming increasingly popular. Elon Musk paid a total of $44 billion to acquire Twitter in October of 2022.
Elon Musk KEY FACTS
- First company, Zip2, was sold to Compaq in 1999 for 340 million dollars.
- Invested some of his windfall money on the website X.com.
- X.com became Paypal. In 2002, eBay sold Paypal for $1.5 billion.
- Holds a 48% stake in SpaceX, which is currently worth $46 billion.
- Holds a 22% stake in Tesla.
- In 2020, there was a rise of $142 billion in net worth.
- Previously stated that he is “cash poor” and is in debt for a worth equal to $500 million.
- He formerly possessed real estate worth a total of $100 million.
- Six homes in Los Angeles were sold in 2020.
Elon Musk net wealth history
- On the first of the year 2020, Elon had a net worth of $28 billion. At the end of the year 2020, his net worth was 170 billion dollars.
- When Elon’s net worth reached $80 billion for the first time on July 13, 2020, $15 billion of it was contributed by SpaceX, while the remaining $65 billion was contributed by Tesla.
- Elon’s net worth surpassed $90 billion for the first time in August of 2020, thanks to the combined effects of two significant developments. To begin, Tesla’s share price reached a new all-time high of $1,900 in the middle of August. When it reached that point, the total market valuation of the company was $350 billion. The value of Elon’s 20 percent share was estimated to be $70 billion. The second consideration was a rise in SpaceX’s valuation, which was formally announced on the 18th of August, 2020. Following the completion of the fundraising round, SpaceX’s private valuation rose to $46 billion, up from $36 billion previously. Elon Musk’s 48% share in Tesla, which is currently valued at $46 billion, contributes an additional $22 billion in pre-tax wealth to Elon’s overall net worth.
- Elon Musk’s personal wealth officially surpassed $100 billion for the first time on November 17, 2020. When this occurred, he moved up one point on the list of the world’s wealthiest people, passing Mark Zuckerberg on the time to his new position.
- Elon Musk’s personal wealth crossed the $128 billion threshold for the first time on November 24, 2020. When this occurred, he moved up one time on the list of the world’s wealthiest people, moving past Bill Gates into the number two spot. On that day, he was $54 billion short of Jeff Bezos’ net worth of $184 billion, and his net worth has officially climbed $100 billion since the first of the year 2020.
- On January 7, 2021, Elon’s net worth reached $195 billion for the first time. It was on this day that Elon Musk became the richest person in the world, surpassing Jeff Bezos in wealth for the first time.
- After starting a net worth of $170 billion at the worth of the week, Elon finished the week with $210 billion, as reported on January 8, 2021.
- Elon Musk’s personal wealth reached a total of $300 billion in October 2021, when Tesla’s market capitalization had surpassed $1 trillion and SpaceX was valued at $100 billion.
- Elon Musk’s personal wealth reached $335 billion on November 1, 2021, the day when Tesla’s market cap passed $1.2 trillion for the first time.
- Elon Musk’s net worth of $165 billion was surpassed by Bernard Arnault’s net worth of $167 billion on December 13, 2022, which resulted in Musk’s loss of his title as the richest person in the world.
Elon Musk Tesla Salary
As CEO of Tesla, Elon does not receive a salary. Instead, he has a compensation plan that is related to the company’s market valuation milestones in a way that is both exceedingly uncommon and tremendously rewarding. When the strategy was developed, Tesla had a market cap of approximately $50 billion. There are a total of 12 milestones, and each one is based on a market cap growth of $50 billion. Elon achieved each and every one of the milestones, and as a result, he is eligible to receive the whole 100 billion dollars under the bonus plan. Following confirmation from the Board of Directors that the target has been met, the relevant number of shares will be distributed on a quarterly plan.
Elon Musk In the Beginning
The 28th of June, 1971 found Elon Musk being born in Pretoria, South Africa. At the age of ten, Musk purchased his first computer and taught himself how to write computer programs. At the age of twelve, he sold his first piece of software, which was a game he had written named Blaster. He moved to Canada in 1989 when he was 17 years old in order to attend Queen’s University. He left Canada in 1992 in order to attend the University of Pennsylvania and major in both business and physics. Musk received his undergraduate degree in economics, continued on to acquire a second bachelor’s degree in physics, and then pursued a doctorate in energy physics after completing his studies for that degree. However, he decided to forego his education at Stanford University in order to participate in the expansion of the internet.
Elon Musk Success
The first company that Musk founded was called Zip2 Corporation, and it was an online city guide. In 1999, a division of Compaq Computer paid $307 million in cash and $34 million in stock options to acquire Zip2. This transaction bought place. In the same year, 1999, Musk was also a co-founder of the online financial services and payments company X.com. The next year, X.com was acquired, which resulted in the establishment of PayPal as it is known today. In 2002, eBay purchased PayPal for $1.5 billion in stock after PayPal had been created as a result of the X.com transaction.
Musk founded his third company in 2002 under the name Space Exploration Technologies Corporation (often known as SpaceX), with the intention of developing spaceships for use in commercial space travel. By the year 2008, SpaceX had already built a solid reputation, and the United States National Aeronautics and Space Administration (NASA) had awarded the company a contract to handle cargo transport for the International Space Station, with future plans including astronaut transport.
Following that was Tesla Motors, an automobile company with the mission of creating electric vehicles that are accessible to the general public at reasonable prices. Martin Eberhard and Marc Tarpenning are founded with establishing Tesla in 2003. Elon, Ian Wright, and J.B. Straubel were the initial workers of the company and were later given the title of co-founders through a process of retroactive incorporation.
In June of 2010, Tesla Motors went public for the first time, successfully generating a total of $226 million. Prior to this, Daimler had already purchased a stake in the company and formed a strategic partnership with Toyota. Musk and SpaceX created history in 2012 when they successfully launched an unmanned spacecraft into orbit atop a Falcon 9 rocket owned by the company. In 2013, he presented an idea for a new mode of transportation that he termed the Hyperloop. This mode of transportation was designed for travel at speeds greater than 700 miles per hour and was intended to commute between large cities. As a mode of transportation, tubes would be utilized by the Hyperloop as an alternative to railroads. Musk estimates that the construction, testing, and launch of the Hyperloop might take anywhere from seven to ten years.
Elon Musk’s Net Worth
At the writing that this article was written, Elon Musk owned 43% of the rocket manufacturer SpaceX as well as 24% of Tesla.
In a legal deposition that took place in 2019, Elon Musk revealed that he is, in fact, quite cash-poor and that nearly all of his personal fortune can be attributed to shares in Tesla and SpaceX. Additionally, the lawsuit disclosed that Musk receives a base salary of $56,380 from Tesla. In most years, he chooses not to accept the salary. During the time that the lawsuit was being filed, Musk owed a worth of $500 million in debt, the most of which was owed to Morgan Stanley and Goldman Sachs. The debt he owed to Morgan Stanley in connection with his home mortgage was around or exactly sixty million dollars. Since then, he has paid off this mortgage debt by selling off the majority of his properties.
It is said that in order to create SpaceX, he spent all of the liquid cash he had earned from his prior business sales.
Elon Musk remuneration from Tesla
In January of 2018, Tesla’s board of directors revealed that Musk would be eligible for a compensation plan that would eventually be worth $100 billion. According to the plan, Musk would have been eligible to receive up to $100 billion in stock options over the course of a decade, distributed in 12 tranches. When Tesla’s market capitalization reaches $100 billion, the first tranche of option grants will be issued (roughly double the value when the plan was announced). After that point, Elon was entitled to receive one more of the tranches each time the company’s market capitalization increased by $50 billion.
In the event that he did not reach any of the 12 tiers of achievement, he would have been awarded no reward.
As Tesla’s market valuation ultimately soared past $1 trillion for the first time in October 2021, Elon Musk was eventually able to unlock all 12 tiers of the compensation plan within a span of just three years.
Elon Musk Personal Life
Elon has been married three times, both times to the same woman, who is an actress named Talulah Riley. Between the years 2000 and 2008, he was married to the Canadian author Justine Wilson. They have five sons between them. In addition to that, he has been romantically linked to the actress Amber Heard as well as the Canadian musician Grimes. Grimes and Elon became parents to a son in May of 2020, and they welcomed to call him X A-Xii. In December of 2021, they became the proud parents of a second child who was born through surrogacy.
Elon also became a father for the second point in late 2021, when one of his Neuralink executives welcomed birth to a set of twins.
As of the writing this article was written, he is a father to a total of ten children.
It was rumored in July 2022 that Elon Musk had an affair with Sergey Brin’s wife, who is also the co-founder of Google, in the month of December 2021. Reportedly as a result of the affair, Sergey initiated the divorce proceedings against his wife of four years, Nicole Shanahan. Unfortunately, Sergey had been for a long time one of Musk’s most ardent fans. He took an investment position in a number of Musk’s firms, including being one of the company’s first investors.
Elon Musk Real Estate Holdings
Before selling it all, Elon’s California real estate portfolio was worth a total of $100 million. He still owns a mansion that was built 100 years ago and has 16,000 square feet of living space. It is located on roughly 50 acres in the town of Hillsborough in Northern California. He bought $23.364 million for this home back in 2017, when he made the purchase.
In Southern California, he had owned six homes in the Bel-Air region of Los Angeles. These homes were located in Los Angeles. His footprint in Bel-Air included a 20,000 square foot house that he purchased in 2012 for $17 million, a 7,000 square foot house that he purchased in 2015 for $20 million, and a 9,300 square foot house that he purchased in 2016 for $24.25 million. Elon Musk shocked the entire world in the year 2020 when he revealed his intention to sell all of his assets, starting with his homes in Los Angeles. Following through on his promise, he continued to sell off each residence. In December of 2020, he sold all four of his homes at once to a single purchaser.