Elon Musk Net Worth

Elon Musk Net Worth 2023 Forbes, wife, companies, Tesla, Space X, children, cars, house. The net worth of the richest man in the world is estimated at $268 billion making him the richest man in the world. He has held the position for two years.

Elon Reeve Musk is an entrepreneur and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI.

Elon Musk Net Worth

Elon Musk Net Worth Summary

Elon Musk Net Worth and Biography

Elon Musk Net Worth in 2023 is estimated at $260 billion making him the richest man in the world. He has held the position for two years. Elon Reeve Musk is an entrepreneur and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI.

Early life

Elon Musk was born on 28th June , 1971 in in Pretoria, South Africa. He briefly attended the University of Pretoria before moving to Canada at age 17 to avoid conscription. He was enrolled at Queen’s University and transferred to the University of Pennsylvania two years later, where he received a bachelor’s degree in economics and physics.

He moved to California in 1995 to attend Stanford University but decided instead to pursue a business career, co-founding the web software company Zip2 with his brother Kimbal. 

Investment Career

In 1995, Musk, Kimbal, and Greg Kouri founded web software company Zip2 with funds from angel investors. They housed the venture at a small rented office in Palo Alto. The company developed and marketed an Internet city guide for the newspaper publishing industry, with maps, directions, and yellow pages.

In 1999, Musk co-founded X.com, an online financial services and e-mail payment company. The startup was one of the first federally insured online banks, and, in its initial months of operation, over 200,000 customers joined the service.

The following year, X.com merged with online bank Confinity to avoid competition. Founded by Max Levchin and Peter Thiel, Confinity had its own money-transfer service, PayPal, which was more popular than X.com’s service.

In 2001, Musk became involved with the nonprofit Mars Society. He was inspired by plans to place a growth-chamber for plants on Mars and discussed funding the project himself.

In 2002, Musk founded SpaceX, an aerospace manufacturer and space transport services company, of which he is CEO and Chief Engineer. In 2004, he joined electric vehicle manufacturer Tesla Motors, Inc. (now Tesla, Inc.) as chairman and product architect, becoming its CEO in 2008.

In 2006, he helped create SolarCity, a solar energy services company that was later acquired by Tesla and became Tesla Energy. In 2015, he co-founded OpenAI, a nonprofit research company that promotes friendly artificial intelligence.

In 2016, he co-founded Neuralink, a neurotechnology company focused on developing brain–computer interfaces, and founded The Boring Company, a tunnel construction company. Musk has proposed the Hyperloop, a high-speed vactrain transportation system.

Elon Musk net worth Forbes

Musk made $165 million when PayPal was sold to eBay in 2002. He was first listed on the Forbes Billionaires List in 2012, with a net worth of $2 billion.

At the start of 2020, Musk had a net worth of $27 billion. By the year’s end his net worth had increased by $150 billion, largely driven by his ownership of around 20% of Tesla stock. During this, Musk’s net worth was often volatile.

In November of that year, Musk passed Facebook co-founder Mark Zuckerberg to become the third-richest person in the world; a week later he passed Microsoft co-founder Bill Gates to become the second-richest. In January 2021, Musk, with a net worth of $185 billion, surpassed Amazon founder Jeff Bezos to become the richest person in the world.

On September 27, 2021, Forbes announced that Musk had a net worth of over $200 billion, and was the richest person in the world, after Tesla stock surged. In November 2021, Musk became the first person with a net worth over $300 billion

Around three-quarters of Musk’s wealth derives from Tesla. Musk does not receive a salary from Tesla; he agreed in 2018 to a compensation plan with the board that ties his personal earnings to Tesla’s valuation and revenue.

The deal stipulated that Musk only receives the compensation if Tesla reaches certain market values. It was the largest such deal ever done between a CEO and board.

Musk has endowed prizes at the X Prize Foundation, including $15 million to encourage innovation in addressing illiteracy and $100 million to reward improved carbon capture technology. In November 2021, Musk donated $5.7 billion of Tesla’s shares to charity.

After the 2022 Russian invasion of Ukraine, Musk facilitated sending Starlink systems purchased by other European nations and private funding to Ukraine for internet access and communication in the besieged country.

Musk is an active user of the social media platform Twitter and has over 80 million followers. On January 31, 2022, Musk began steadily buying significant quantities of shares in the company, reaching a 5% stake in the company on March 14, 2022.

 Musk reached a total of 73,115,038 shares on April 1, 9.13% of Twitter’s overall shares, valued at the time at $2.64 billion, making him the largest shareholder in the company.

On April 13, Musk made a $43 billion offer to buy Twitter, launching a takeover bid to buy 100% of Twitter’s stock at $54.20 per share. In a letter to Twitter’s board, he indicated his desire to take the company private:

Around three-quarters of Musk’s wealth derives from Tesla. Musk does not receive a salary from Tesla; he agreed in 2018 to a compensation plan with the board that ties his personal earnings to Tesla’s valuation and revenue. The deal stipulated that Musk only receives compensation if Tesla reaches certain market values.

 It was the largest such deal ever done between a CEO and board. In the first award, given in May 2020, he was eligible to purchase 1.69 million TSLA shares (about 1% of the company) at below-market prices, which was worth about $800 million.

Elon Musk Net Worth

Elon Musk Net Worth in 2023 is estimated at $260 billion making him the richest man in the world. He has held the position for two years. Elon Reeve Musk is an entrepreneur and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI.

Musk made $165 million when PayPal was sold to eBay in 2002. He was first listed on the Forbes Billionaires List in 2012, with a net worth of $2 billion.

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