Elon Musk Net Worth 2023: He is a famous businessman and has a net worth is $219 Billion dollars. Find more about Elon Musk life, Net Worth, Wife, Biography, Age, Height, Family, and Career. 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 Net Worth?
Elon Musk is a businessman, inventor, and investor who was born in South Africa and now lives in Canada and the U.S. Elon Musk has a net worth of $140 billion. Elon Musk has made most of his money as the CEO of Tesla Motors, even though he has a lot of jobs and is always coming up with better ideas. He is also the CEO and Chief Technology Officer (CTO) of SpaceX and the chairman of SolarCity. He is the richest person in the world and in modern history.
As of this writing, Elon Musk owns about 24% of all the shares in Tesla and 43% of privately held SpaceX. In October 2021, Tesla’s market cap went over $1 trillion for the first time. In the same month, SpaceX raised money when it was worth $100 billion. This was the first time that Elon’s wealth was close to $300 billion.
It seems like Elon Musk has always been a bit ahead of the curve. When he was young, he taught himself how to use computers. By the time he was 12, he had written the code for Blastar and sold it. He went on to attend at Queen’s University in Ontario and then got a degree in both business and physics from the Wharton School at the University of Pennsylvania. He then moved to Stanford University to attend a Ph.D. program in physics, but he later decided that school was no longer a good thing to do. He didn’t waste any time getting started on his career plans. Two days after the start of the first semester, he dropped out of Stanford. His first business was with his brother, Kimbal Musk. They founded a software company called Zip2. Their main product was an online guide to cities that was made for the publishing business, especially newspapers. In 1999, the brothers sold Zip2 to Compaq for a total of $307 million in cash and $34 million in stock options. From there, he started an email payment company called X.com. He later bought Confinity, which was the company that ran PayPal. Musk put everything together and gave it all the name PayPal. Since then, he has kept starting new businesses, such as SpaceX, which designs and builds spacecraft, and Tesla Motors, which makes electric sports cars that are becoming more and more popular. In October 2022, Elon paid $44 billion to buy Twitter.
About Elon Musk FACTS
- Sold his first company, Zip2, to Compaq for $340 million in 1999.
- He put some of his windfall money into X.com.
- X.com became Paypal. EBay sold Paypal for $1.5 billion in 2002.
- 48% of SpaceX, which is worth $46 billion, is owned by them.
- holds 22% of Tesla.
- In 2020, net worth went up by $142 billion.
- He has once said that he is “cash poor” and owes $500 million.
- Once owned properties worth $100 million.
- Six LA homes were sold in 2020.
Elon Musk Net Worth History
- On January 1, 2020, Elon’s net worth was $28 billion. He ended the year 2020 with a net worth of $170 billion.
- Elon’s net worth hit $80 billion for the first time on July 13, 2020. Of that amount, $15 billion came from SpaceX and $65 billion came from Tesla.
- In August 2020, Elon’s net worth went over $90 billion for the first time. This was due to two major events. First, Tesla shares reached their all-time high of $1,900 in the middle of August. At that point, the company was worth a total of $350 billion on the market. The 20% stake that Elon had was worth $70 billion. The second reason was that SpaceX was worth more money, which was confirmed on August 18, 2020. SpaceX’s private value went from $36 billion to $46 billion after the fundraising round. At a price of $46 billion, Elon’s 48% stake in Tesla adds $22 billion to his net worth before taxes.
- Elon’s net worth went over $100 billion for the first time on November 17, 2020. At that point, he was worth more than Mark Zuckerberg for the first time, making him the third-richest person on Earth.
- Elon’s net worth went over $128 billion for the first time on November 24, 2020. At that point, he became the second-richest person in the world for the first time, passing Bill Gates. On that day, he was $54 billion short of Jeff Bezos’s $184 billion net worth, and since January 1, 2020, his net worth had officially gone up $100 billion.
- Elon’s net worth reached $195 billion on January 7, 2021. On this day, Elon became the richest person in the world for the first time, passing Jeff Bezos.
- On January 8, 2021, Elon ended the week with a net worth of $210 billion. He started the week with a net worth of $170 billion.
- In October 2021, when Tesla’s market value went over $1 trillion and SpaceX’s value was $100 billion, Elon’s net worth was $300 billion.
- When Tesla’s market cap went over $1.2 trillion on November 1, 2021, Elon Musk’s net worth was $335 billion.
- On December 13, 2022, Bernard Arnault’s $167 billion net worth made Elon Musk no longer the richest person in the world. Musk’s net worth was $165 billion.
Elon Musk Salary from Tesla
Elon gets no salary as CEO of Tesla. Instead, he has a very unusual and very lucrative bonus plan that is based on the company’s market cap. Tesla was worth about $50 billion when the plan was made. There are 12 milestones that are reached when the market cap goes up by $50 billion. Elon reached every goal, so he was eligible to get the full $100 billion from the bonus plan. Shares for this plan are given out every three months after the Board of Directors confirms that a certain goal has been met.
Elon Musk Early life
Elon Musk was born in Pretoria, South Africa, on June 28, 1971. Musk bought his first computer when he was 10 and taught himself how to program. He sold his first piece of software when he was 12 years old. It was a game he made called “Blaster.” At age 17, he moved to Canada to attend Queen’s University. He left in 1992 to study business and physics at the University of Pennsylvania. Musk got his bachelor’s degree in economics, then continued on to get a second bachelor’s degree in physics and a doctorate in energy physics. He did, however, drop out of Stanford University to join the internet boom.
Elon Musk Success Story
Musk’s first company was an online city guide called Zip2 Corporation. In 1999, a part of Compaq Computer bought $307 million in cash and $34 million in stock options to buy Zip2. Musk also started X.com, an online financial services and payments company, with a partner in 1999. The next year, eBay bought X.com, which led to the creation of PayPal as we know it today. In 2002, eBay bought PayPal for $1.5 billion in stock.
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-known, and NASA gave the company a contract to move cargo to and from the International Space Station, with plans to move astronauts in the future.
Next was Tesla Motors, a car company that makes cheap electric cars for the mass market. Tesla was founded by Martin Eberhard and Marc Tarpenning in 2003. Elon, Ian Wright, and J.B. Straubel were the first people to work for the company and were named co-founders after the fact.
Tesla Motors went public in June 2010, when Daimler bought a stake in the company and formed a strategic partnership with Toyota. The IPO raised $226 million. Musk and SpaceX made history in 2012 when they sent a Falcon 9 rocket into space without a company inside. In 2013, he came up with an idea for a new way to get from one big city to another. He called it the “Hyperloop.” It would move at speeds of more than 700 mph and connect major cities. Instead of rails, the Hyperloop would use tubes to move people. Musk says it could take between 7 and 10 years to build, test, and make the Hyperloop ready to use.
Details on Elon Musk’s Net Worth
As of this writing, Elon Musk owns 24% of Tesla and 43% of SpaceX, which makes rockets.
Musk said in a 2019 legal deposition that he doesn’t have a lot of cash and that 99% of his wealth comes from his shares in Tesla and SpaceX. Musk’s base salary at Tesla, which was also revealed by the lawsuit, is $56,380. Most years, he turns down the salary. When the lawsuit was filed, Musk owed $500 million, most of which was to Morgan Stanley and Goldman Sachs. About $60 million or more of his Morgan Stanley debt was related to his home mortgage. Since then, he has sold most of his homes and paid off this mortgage debt.
He is said to have used all of the cash from the sales of his other businesses to start SpaceX.
Elon Musk Plan for Tesla’s pay
In January 2018, the Tesla board showed Musk a plan for compensation that would be worth $100 billion over time. Under the plan, Musk was supposed to get up to $100 billion in stock options over a period of 12 years. The first group of options will be given out when Tesla’s market value hits $100 billion (roughly double the value when the plan was announced). From then on, every time the market point of the company went up by $50 billion, Elon got another installment.
If he didn’t reach any of the 12 steps, he wouldn’t have gotten any money.
In just three years, Elon unlocked all 12 steps of the compensation plan. In October 2021, Tesla’s market cap went over $1 trillion for the first time.
Elon Musk Personal Life
Elon has been married three times, and twice to the same woman: the actress Talulah Riley. From 2000 to 2008, he was married to the Canadian author Justine Wilson. Both of them have five sons. He has also dated the actress Amber Heard and the Canadian musician Grimes. Grimes and Elon had a son in May 2020. They named him X A-Xii. In December 2021, a surrogate welcomed birth to their second child.
Late in 2021, one of Elon’s Neuralink employees had twins. Elon was also happy to meet the new twins.
As of this writing, he has ten children.
In July 2022, it was said that in December 2021, Elon Musk had an affair with Sergey Brin’s wife, who is also a co-founder of Google. Sergey is said to have asked his wife of four years, Nicole Shanahan, for a divorce because of the affair. Sergey had been one of Musk’s biggest fans for a long time, which was painful. He put money into several Musk companies and was one of the first people to put money into Tesla.
Elon Musk Real Estate Holdings
Elon used to own property worth $100 million in California alone. In the town of Hillsborough in Northern California, he still owns a 100-year-old, 16,000-square-foot villa on nearly 50 acres. In 2017, he bought $23.364 million for this house.
In Southern California, he once owned six homes in the Bel-Air time of Los Angeles. In 2012, he bought a 20,000-square-foot house in Bel-Air for $17 million. In 2015, he bought a 7,000-square-foot house for $20 million, and in 2016, he bought a 9,300-square-foot house for $24.25 million. Elon shocked the world in 2020 when he said he was going to sell everything he owned, starting with his LA homes. He did what he said he would do and sold each house. In December 2020, he sold all four homes to the same person.