Elon Musk is a businessman, entrepreneur, and investor who was born in South Africa. As of 2022, Elon Musk has a $270.4 billion net worth. He is most recognized for being the CEO and CTO of SpaceX, CEO and chief product architect of Tesla Motors, and chairman of SolarCity, however, he wears numerous roles and is continually topping his newest project. He is both the world’s and modern history’s wealthiest individual.
| Net Worth: | $270.4 Billion |
| Date of Birth: | Jun 28, 1971 (50 years old) |
| Gender: | Male |
| Height: | 6 ft 2 in (1.88 m) |
| Profession: | Aerospace Engineer, Engineer, Entrepreneur, Investor, Designer, Businessperson, Investor, Film Producer |
| Nationality: | South Africa |
Early Life
In Pretoria, South Africa, Elon Musk was born on June 28, 1971. Musk learned to program on his first computer when he was ten years old. He sold his first piece of software when he was 12 years old, Blaster, a game he designed. He traveled to Canada when he was 17 years old to attend Queen’s University, but he left in 1992 to attend the University of Pennsylvania to study business and physics. Musk earned a bachelor’s degree in economics before going on to acquire a master’s degree in physics and a Ph.D. in energy physics. He did, however, drop out of Stanford University to join the internet boom.
Elon Musk Net Worth & Career
Zip2 Corporation, Musk’s first business, was an online city guide. Zip2 was purchased for $307 million in cash and $34 million in stock options by a subsidiary of Compaq Computer in 1999. Musk co-founded X.com, online financial services, and payments startup, in 1999 as well. The next year, an X.com acquisition resulted in the formation of PayPal, which was purchased by eBay for $1.5 billion in shares in 2002.
Musk established his third business, Space Exploration Technologies Corporation (SpaceX), in 2002 with the goal of developing commercial spacecraft. By 2008, SpaceX had established itself, and NASA had granted them a contract to carry cargo to the International Space Station, with ambitions to transport astronauts in the future.
Next up was Tesla Motors, an automaker devoted to mass-market electric vehicles that are both inexpensive and reliable. Martin Eberhard and Marc Tarpenning established Tesla in the year 2003. The company’s earliest workers, Elon, Ian Wright, and J.B. Straubel, were recognized co-founders retrospectively.
Tesla Motors raised $226 million in its initial public offering (IPO) in June 2010, with Daimler taking a share in the firm and a strategic relationship with Toyota. Musk and SpaceX made history in 2012 when they sent an unmanned capsule into space on their Falcon 9 rocket. In 2013, he unveiled an idea for the Hyperloop, a novel mode of transportation that would allow commuters to travel between major cities at speeds exceeding 700 mph. The Hyperloop, unlike railways, would carry passengers through tubes. Musk estimates that building, testing, and launching the Hyperloop will take 7 to 10 years.
Tesla Compensation Plan
Tesla’s board of directors announced in January 2018 a $100 billion compensation package for Musk. Musk was to get up to $100 billion in stock options in 12-tranches over the course of a decade under the plan. Once Tesla’s market worth reaches $100 billion, the first tranche of options will be given (roughly double the value when the plan was announced). Every time the company’s market capitalization increased by $50 billion after that, Elon earned another of the tranches.
He would have earned no remuneration if he did not complete any of the 12 tranches.
Elon unlocked all 12 tranches of the compensation plan in less than three years, when Tesla’s market worth surpassed $1 trillion for the first time in October 2021.
Real Estate Holdings
Elon once had a real estate portfolio worth $100 million in California alone. He still owns a 100-year-old 16,000-square-foot home on roughly 50 acres in the Northern California hamlet of Hillsborough. Elon paid $23.364 million in 2017 for this mansion.
Elon had six mansions in the Bel-Air district of Los Angeles at one point in Southern California. In 2012, he acquired a 20,000-square-foot home for $17 million, followed by a 7,000-square-foot house for $20 million in 2015, and a 9,300-square-foot house for $24.25 million in 2016. Elon startled the world in 2020 when he announced his decision to sell everything he has, beginning with his Los Angeles mansions. He followed through on his promise and sold each property. In December 2020, he sold four houses to a single buyer.
Personal Life
Elon has been married three times, twice to actress Talulah Riley and once to a different lady. From 2000 to 2008, he was married to Justine Wilson, a Canadian novelist. They have a total of five children together. He’s also dated actress Amber Heard and singer Grimes from Canada. Grimes and Elon welcomed a son called X A-Xii into the world in May 2020.
Elon Musk Net Worth
Elon Musk has a $270.4 billion net worth in 2022. That places him among the world’s wealthiest persons as of this writing. Musk’s riches stem from his ownership of a 24 percent investment in Tesla and a 43 percent stake in SpaceX, which is privately owned. Musk is cash-strapped, owing Morgan Stanley and Goldman Sachs a total of $500 million.
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