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How Much is Elon Musk Net Worth?

How Much Is Elon Musk Net Worth - Classification of his Earning

Over the past few decades, Musk has succeeded in becoming the CEO of Tesla and SpaceX, founder of The Boring Company, and cofounder of OpenAI and Neuralink while focused on his long-term goal: escaping Earth and colonizing Mars. With all these achievements, a simple question comes to mind how much is Elon Musk’s net worth? But the answer is not as simple as it sounds. To find out about his net worth, keep reading this article.

Musk’s astounding success has given rise to comparisons to other visionary businessmen, such as Howard Hughes, Steve Jobs, Henry Ford, and Bill Gates. After an often-challenging childhood, Musk developed a consistent work ethic. He is known to work as many as 80 to 120 hours per week and has a tenacious, single-minded vision after an often-difficult childhood. As of September 2021, he has an estimated total net worth of 190.5 billion USD.

Let’s look briefly at the life of the man behind a strong will and ambitions. 

Early Life and Education of Elon Musk

Elon Musk was born in 1971 in Pretoria, one of South Africa’s three capital cities. His father was an engineer, and his mother a model and nutritionist. He is the oldest of three children, all high-achievers: His brother, Kimbal Musk, is a venture capitalist and environmentalist. His sister, Tosca Musk, is an award-winning producer and director.

After his parents divorced in 1980, Musk lived primarily with his father. He would later dub the man “a terrible human being… almost every evil thing you could possibly think of, he has done.” “I had a terrible upbringing. I had a lot of adversity growing up. One thing I worry about with my kids is they don’t face enough adversity,” Musk would later say.

Musk Bullied as a Child

Musk was a self-described bookworm and something of a smart-aleck by his own account—he read voraciously, everything from encyclopedias to comic books. But Musk’s intellectual aptitude did him few favors as a child. He found few friends in the tough-minded Afrikaner culture he encountered in school.

Musk attended the private, English-speaking Waterkloof House Preparatory School—he started a year early—and later graduated from Pretoria Boys High School. The years were lonely and brutal, from his descriptions.

They got my best friend to lure me out of hiding so they could beat me up. And that hurt,” Musk said. “For some reason, they decided that I was it, and they were going to go after me nonstop. That’s what made growing up difficult. For a number of years, there was no respite. You get chased around by gangs at school who tried to beat the (expletive) out of me, and then I’d come home, and it would just be awful there as well.

Elon Musk Achievements

Musk was 24 years old when he traveled to California to pursue a Ph.D. in applied physics at Stanford University. But, with the Internet exploding and Silicon Valley booming, Musk had entrepreneurial visions dancing in his head. He left the Ph.D. program after just two days.

X.com

In 1995, with $28,000 and his younger brother Kimbal at his side, Musk started Zip2, a web software company that would help newspapers develop online city guides.18 In 1999, Zip2 was acquired by Compaq’s AltaVista web search engine for a whopping $340 million.19 Musk used his Zip2 buyout money to create X.com, which he intended to shape into the future of banking.

X.com was merged with a money transfer firm called Confinity, and the resulting company came to be known as PayPal.20 Musk was then ousted from the company before it was bought by eBay for $1.5 billion, though he left with $180 million worth in stock.

In 2017, Musk purchased the X.com domain name back from PayPal, citing its sentimental value.

Tesla

First, he contributed funding—about $70 million. Then, in 2004, Musk joined engineers Martin Eberhard and Marc Tarpenning to help run Tesla Motors, where Musk was integral in designing the Tesla Roadster, an electric car. Although After Eberhard was ousted from the firm in 2007, Musk seized management control as CEO and product architect after a series of disagreements. Under his watch, Tesla has become one of the world’s most popular and coveted car brands.

In addition to producing electric vehicles, Tesla maintains a robust presence in the solar energy space, thanks to its acquisition of SolarCity. Founded in 2006, this clean-energy-services company currently produces two rechargeable solar batteries, mainly used for stationary energy storage purposes. The smaller Powerwall was developed for home backup power and off-the-grid use, while the larger Powerpack is intended for commercial or electric utility grid use.

SpaceX

Musk used much of the proceeds of his PayPal sale to found Space Exploration Technologies Corporation, commonly known as SpaceX, an interstellar travel company. By his own account, Musk spent $100 million to launch SpaceX in 2002.

Musk landed several high-profile contracts with NASA and the U.S. Air Force to design rockets and conduct military missions with SpaceX. Musk has been vocal about his plans to send an astronaut to Mars by 2025 in a collaborative effort with NASA.

Elon Musk’s net worth

Elon Musk’s net worth is around 190.5 billion USD as of September 2021. He ranks as the second richest person on the planet on Forbes’ World Billionaires List.

Distribution of Elon Musk’s net worth

Here are some of Musk’s wealth distribution facts that will amaze you.

How much money Elon Musk makes in 5 days?

One week of income of Musk could make him buy the New York Yankees, the Dallas Cowboys, the LA Lakers, the Toronto Maple Leafs, Manchester United, and once he’s run out of big sports teams to buy, enough Boeing 747s to start an airline. But that’s just five days of growth.

His total wealth would buy him a lot more. He could buy himself 5,030,710 Tesla Model 3s. That’s more cars than exists in Sweden. Those cars, bumper to bumper, would take up so much space that they would stretch 11 kilometers long and four kilometers wide, enough to cover almost the whole of Manhattan.

If he wanted to access the cars, he would need to also flatten a large area of New Jersey and Brooklyn to construct the world’s largest car park. And if he didn’t want to invest in Teslas, he could buy almost four million Bitcoins at $40,000 each, nearly 20% of the world’s supply, or if he wanted a less volatile investment, a 5.5-meter solid block of 24 karat gold. Gold is costly.

And that $190.5 billion would be enough to buy him the world’s third-largest army, bigger than Russia and India’s armies combined. But this isn’t just a static number. If the last year’s trajectory was to continue, that would make Must a trillionaire in just five years.

How much does Elon Musk make a day?

Elon Musk’s net worth was around $27.2 billion at the beginning of 2020. At the beginning of 2021, his net worth was around $185 billion, according to Forbes. Musk has added almost $158 billion to his net worth over the last year, nearly $432 million per day.

How much does Elon Musk make an Hour?

Elon Musk has made $400 million PER DAY or $16 million PER HOUR since January 1.

How much money Elon Musk makes in 5 mins?

According to new research, it would take the average Australian nearly five months to make as much as Tesla and SpaceX boss Elon Musk makes in just five minutes.

The report found that Elon Musk makes $21,030 in five working minutes.

Based on the average full-time salary in Australia of $48,360, it would take an average person 22 weeks, two days, and three hours to make the same amount that the Tesla boss makes in five minutes.

“To put that into perspective, the Tesla maverick in five minutes can buy 10 return flight tickets for Sydney to Johannesburg,” the report said.

Elon musk does not receive salary from Tesla

Elon Musk does not accept to receive his salary from Tesla. However, the CEO still has a generous “compensation plan” from the carmaker. Electric cars can earn him around US $ 30 billion in 2021 alone.

The truth is that, according to Tesla’s financial statement, it is pointed out that Musk receives a monthly minimum wage for his work (US $ 2.080 / month, according to data from the California government), something he doesn’t accept. However, this does not mean that it is not compensated in any way.

In 2018, shareholders of the electric vehicle maker approved a very generous compensation plan for the CEO, which consists of an important number of market shares that he can access if Tesla reaches certain milestones, such as revenue increases, positive valuation of the brand, and the “Ebitda” (earnings before interest, taxes, depreciation, and amortization).

And all this money and access to shares covers only half of the compensation plan foreseen for the CEO. That is, if Tesla continues to advance in the market, Musk will be able to unlock another six installments of such a compensation plan and, thus, easily earn more than the US $ 100 billion.

Final Words

Musk’s early concerns in science fiction, philosophy, and fantasy novels are shown in his sense of idealism and interest in human progress—and his business career. He works in the domains he has recognized as important to our future, specifically the Internet, the transition to renewable energy sources, and space colonization. He has challenged critics, disrupted industries, and made advances in all three of these frontiers. With all his hard work and knowledge, he created PayPal, Tesla Motors, SolarCity, and SpaceX—game-changers all.

With all his success and dedication, he has managed to gather a large amount of his fortune and let his critics being curious about how much is Elon Musk’s net worth.