Elon Musk net worth
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What is Elon Musk’s net worth?
Elon Musk is a Canadian-American businessman, inventor and investor born in South Africa. Elon Musk’s net worth is US$275 billion. Although he holds several positions and continues to be among the best in his latest projects, he is currently best known as the CEO and CTO of SpaceX, the CEO and chief product architect of Tesla Motors, and the chairman of SolarCity. He holds the record of the richest man in the world and the richest man in modern history.
At the time of writing, Elon Musk owns approximately 24% of Tesla’s outstanding shares and 43% of the privately held SpaceX. In October 2021, Tesla’s market value exceeded $1 trillion for the first time. In the same month, SpaceX raided funds at a valuation of $100 billion. At this time, Elon’s net assets fell to around US$300 billion for the first time.
Equity history
- On January 1, 2020, Elon’s net worth was 28 billion U.S. dollars. By the end of 2020, his net worth is 170 billion U.S. dollars.
- Elon’s net assets exceeded US$70 billion for the first time on July 10, 2020. At the time, approximately $15 billion was attributed to the privately held SpaceX, and the remaining $55 billion came from Tesla.
- On July 13, 2020, Elon’s net assets reached US$80 billion for the first time, of which US$15 billion came from SpaceX and US$65 billion came from Tesla.
- In August 2020, two important factors made Elon’s net assets exceed US$90 billion for the first time. First, in mid-August, Tesla’s stock price hit a record high of $1,900. At that level, the company’s total market value is $350 billion. Elon’s 20% stake is worth 70 billion U.S. dollars. The second factor is the increase in SpaceX’s valuation, which was officially confirmed on August 18, 2020. This round of financing will increase SpaceX’s private valuation from 36 billion U.S. dollars to 46 billion U.S. dollars. With a valuation of US$46 billion, Elon’s 48% stake has added US$22 billion in pre-tax wealth to Elon’s net assets.
- On November 17, 2020, Elon’s net assets exceeded US$100 billion for the first time. At that time, he surpassed Mark Zuckerberg and became the third richest person on the planet for the first time.
- On November 24, 2020, Elon’s net assets exceeded US$128 billion for the first time. At that time he surpassed Bill Gates and became the second richest person in the world for the first time. That day, he and Jeff Bezos (Jeff Bezos) net worth of 184 billion US dollars difference of $ 54 billion, since January 1, 2020, his net worth has officially increased by $ 100 billion.
- On January 7, 2021, Elon’s net assets reached US$195 billion. On this day, Elon surpassed Jeff Bezos to become the world’s richest man for the first time.
- On January 8, 2021, Elon ended the week with a net worth of US$210 billion, and the week was valued at US$170 billion at the beginning.
- In October 2021, when Tesla’s market value exceeded US$1 trillion and SpaceX was valued at US$100 billion, Elon’s net worth was US$300 billion.
- On November 1, 2021, when Tesla’s market value exceeded US$1.2 trillion, Elon Musk’s net worth was US$335 billion.
Tesla salary
Elon didn’t get a salary when he was Tesla’s CEO. Instead, he has a very unusual and lucrative bonus plan related to the company’s market value milestones. When the plan was established, Tesla was worth approximately $50 billion. Based on the market value growth of 50 billion USD, there are 12 milestones in total. Elon has reached every milestone and is therefore eligible to receive the full $100 billion from the bonus program. After the board of directors confirms the achievement of the milestone, the stocks related to the plan are released quarterly.
early life
Elon Musk was born on June 28, 1971 in Pretoria, South Africa. Musk bought his first computer when he was 10 years old and taught himself how to program. At the age of 12, he made his first software sale-he developed a game called Blaster. In 1989, at the age of 17, he moved to Canada and studied at Queen’s University, but left in 1992 to study business and physics at the University of Pennsylvania. Musk graduated with a bachelor’s degree in economics and went on to earn a second bachelor’s degree in physics, and then pursue a doctorate in energy physics. However, he dropped out of Stanford University and became part of the Internet boom.
success
Musk’s first company, Zip2 Corporation, was an online city guide. In 1999, a division of Compaq Computer acquired Zip2 for US$307 million in cash and US$34 million in stock options. Also in 1999, Musk co-founded X.com, an online financial services/payment company. The acquisition of X.com the following year led to the creation of what is now known as PayPal, which was acquired by eBay in 2002 for $1.5 billion in stock.
Musk founded his third company, Space Exploration Technologies (SpaceX) in 2002, with the goal of building spacecraft for commercial space travel. By 2008, SpaceX had established a good position, and NASA awarded the company a contract to handle cargo transportation to the International Space Station, and plans to carry out astronaut transportation in the future.
Next is Tesla Motors, a car company dedicated to producing affordable mass-market electric cars. Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning. Elon and Ian Wright and JB Straubel were the first employees of the company and were named co-founders retrospectively.
Daimler acquired shares in the company and established a strategic partnership with Toyota. Tesla Motors launched an initial public offering in June 2010, raising US$226 million. In 2012, Musk and SpaceX made history when the company launched the Falcon 9 rocket into space with an unmanned capsule. In 2013, he released a new type of transportation concept called Hyperloop, which aims to commute between major cities at speeds of more than 700 mph. In contrast to railways, Hyperloop will use pipelines for transportation. Musk said that Hyperloop may take 7 to 10 years to build, test and be ready for use.
Elon Musk net worth details
At the time of writing, Elon Musk owns 43% of the rocket manufacturer SpaceX and 24% of Tesla.
In a legal testimony in 2019, Musk explained that he actually lacks cash and that 99% of his personal wealth is attributed to shares in Tesla and SpaceX. The lawsuit also revealed that Musk’s basic salary at Tesla was $56,380. He refused to pay his salary for most years. At the time of the lawsuit, Musk had $500 million worth of debt, most of which owed Morgan Stanley and Goldman Sachs. Approximately at least $60 million of his Morgan Stanley debt is related to home mortgage loans. Since then, he sold most of the houses and repaid the mortgage.
According to reports, he burned up all the cash flow from previous business sales to launch SpaceX.
(Photo by Pascal Le Segretain/Getty Images)
Tesla compensation plan
In January 2018, Tesla’s board of directors announced a Musk compensation plan worth 100 billion U.S. dollars. The plan requires Musk to obtain up to $100 billion in stock options 12 times within a decade. Once Tesla reached a market value of $100 billion (approximately twice the amount when the plan was announced), the first batch of options were granted. Since then, every time the company’s market value increases by $50 billion, Elon will receive another payment.
If he fails to complete any of the 12 payments, he will receive zero compensation.
As Tesla’s market value finally surpassed $1 trillion for the first time in October 2021, Elon unlocked all 12-part compensation plans within three years.
personal life
Elon has been married three times and married the same woman, actress Talulah Riley (Talulah Riley) twice. He married Canadian writer Justin Wilson from 2000 to 2008. They have five sons in total. He also fell in love with actress Amber Heard and Canadian musician Grimes. In May 2020, Grimes and Elon welcomed a baby boy named X Æ A-Xii.
Real estate holding
Elon previously owned $100 million worth of real estate in California alone. In the town of Hillsboro, Northern California, he continues to own a 100-year-old, 16,000-square-foot villa covering nearly 50 acres. He bought the house in 2017 for $23.364 million.
In Southern California, he once owned six houses near Bel-Air in Los Angeles. His Bel-Air footprint includes the 20,000-square-foot house he purchased for US$17 million in 2012, the 7,000-square-foot house he purchased for US$20 million in 2015, and the 9,300-square-foot house he purchased for US$24.25 million in 2016. House of. In 2020, Elon announced that he intends to sell all his secular property, starting from his home in Los Angeles, shocking the world. He did what he said, and he began to sell every house. In December 2020, he sold four houses to one buyer at a time.
Generalize
Elon Musk’s net worth is US$275 billion. At the time of writing, this makes him one of the richest people on earth. Musk’s wealth comes from his holding of 24% of Tesla and his privately held 43% of SpaceX. Musk is relatively scarce in cash. It is estimated that his debt to Morgan Stanley and Goldman Sachs amounts to $500 million.
