What is Elon Musk Net Worth?
Elon Musk Net Worth is US$ 258.1 Billion as of July 2023.
|US$ 258.1 Billion
|June 28, 1971 (52 Years)
|Elon Reeve Musk
|Country of Origin
|Source of Wealth
|Justine Wilson (M. 2000; Div. 2008), Talulah Riley (M. 2010.; Div. 2012), Talulah Riley (M. 2013.; Div. 2016).
|CEO of Tesla Inc. and Twitter
Table of Contents
Elon Reeve Musk, popularly known as Elon Musk, was born in South Africa and currently lives in Austin, Texas. An entrepreneur and investor, Elon Musk is the founder and CEO of SpaceX. He is a product architect of a well-known automotive firm, Tesla, Inc., and a current CEO of Twitter, Inc. From Elon Musk’s ownership stakes in SpaceX and Tesla, he became the 2nd wealthiest person across the globe as per the list of billionaires of Forbes. He earned his first fortune while being the co-founder of PayPal.
Musk had developed an online payment system named X.com
Elon Musk established a SpaceX.
Tesla, Inc. was incorporated.
The first delivery of SpaceX’s first satellite into space.
Tesla Inc. began its trading on NASDAQ stock exchange.
SpaceX started the development of Starlink.
Elon Musk co-founded a neurotechnology company named Neuralink.
The boring company was founded by Elon Musk.
Purchased Twitter, a leading social media company for US$ 44 Bn.
Elon Musk was born in Pretoria, a city in South Africa, on June 28, 1971. His father, Errol Musk, was an electromechanical engineer, sailor, property developer, and consultant. In addition, his Canadian mother was a dietitian and a model. Elon Musk’s family was not when he was young and he was devastated by his parent’s divorce. In his early life, he faced several difficulties and was bullied at school. However, he spent his childhood immersed in computers and reading books. When he was 12 years old, he created a video game and sold it to a computer magazine. Elon attended Waterkloof House Preparatory School for his primary education and Bryanston High School for high school academics. He graduated from Pretoria Boys High School.
After receiving a Canadian passport, Musk departed to South Africa because he refused to participate in the country’s mandatory military service, which supported apartheid, and because he wanted to pursue the better economic opportunities that the United States provides. In 1989, he arrived in Canada and worked at a farm, lumber mill, and other odd jobs. Later, in 1997, he completed his degree in economics as well as physics from The Wharton School of the University of Pennsylvania.
In 1995, Elon Musk invented the company Zip2, which provided maps as well as business directories to newspapers. However, in 1999, the company Zip2 was acquired by the computer manufacturer Compaq. Later Musk founded a financial service named X.com, now known as PayPal. A few years later, in 2002 he founded a company named SpaceX to manufacture affordable rockets which were. The company’s 1st rocket was launched in 2006, named Falcon 1, and 2nd was launched in 2010, named Falcon 9. The cost of these rockets was cheaper than other competing rockets.
Furthermore, SpaceX launched its 3rd rocket in 2018 named, Falcon Heavy, which cost 1/3rd of the Delta IV of Boeing Company. SpaceX company has also built the Dragon spacecraft, which can carry as several as seven astronauts to orbits. Along with being the CEO of SpaceX, Elon Musk was the chief designer in developing Dragon spacecraft and Falcon rockets.
Elon had long been intrigued by the potential of electric vehicles. In 2004, he became one of the founders of Tesla Motors (renamed Tesla), an electric vehicle startup created by entrepreneurs Martin Eberhard and Marc Tarpenning. Tesla released their first automobile, the Roadster, in 2006, which could go 245 miles (394 km) on a single charge. It was a sports automobile that could drive from 0 to 60 miles (97 km) per hour in less than four seconds, in contrast to most prior electric vehicles, which Musk considered were stodgy and uninspiring.
The company’s first public offering in 2010 garnered around $226 million. Tesla released the Model S sedan two years later, which was praised by automobile journalists for its performance and design. The Model X premium SUV that hit the market in 2015 earned the firm even more plaudits. The Model 3, a more affordable vehicle, was introduced in 2017 and quickly became the all-time best-selling electric vehicle.
Twitter’s SEC filings in April 2022 revealed that Elon had purchased more than 9% of the firm. Shortly after, Twitter announced that Musk would join the firm’s board of directors, but Musk declined and instead launched a $44 billion bid for the entire business, valued at $54.20 per share. The acquisition was approved by Twitter’s board of directors, making him the company’s sole owner. Musk added that his company’s ambitions include “improving the product with additional features, making the algorithms open source to improve confidence, fighting spam bots, and authenticating all people.” Musk announced the withdrawal of his bid in July 2022, alleging that Twitter had not supplied enough information regarding bot accounts and that the firm was in “material breach of many clauses” of the purchase agreement.
Twitter’s chairman, Bret Taylor, replied by declaring that the business was “dedicated to concluding the deal on the price and terms agreed upon with Mr. Musk.” Twitter challenged Musk in order to compel him to acquire the firm. Afterward, in September 2022, shareholders of Twitter voted for accepting the offer of Elon Musk, and in October 2022, Elon Musk proceeded with this deal.
Elon Musk Net Worth Growth
A small description of how Elon Musk net worth grew over the past years
|Net Worth in 2022
|US$ 219 Billion
|Net Worth in 2021
|US$ 151 Billion
|Net Worth in 2020
|US$ 24.6 Billion
|Net Worth in 2019
|US$ 22.3 Billion
|Net Worth in 2018
|US$ 19.9 Billion
Favorite Quotes from Elon Musk
“I operate on the physics approach to analysis. You boil things down to the first principles or fundamental truths in a particular area, and then you reason up from there.”– Elon Musk
“When something is important enough, you do it even if the odds are not in your favor.”– Elon Musk
“Patience is a virtue, and I’m learning patience. It’s a tough lesson.”– Elon Musk
“ I love the thought of a car drifting apparently endlessly through space and perhaps being discovered by alien race millions of years in the future.”– Elon Musk
“ The path to the CEO’s office should not be through the CFO’s office, and it should not be through the marketing department. It needs to be through engineering and design.”– Elon Musk
“It’s OK to have your eggs in one basket as long as you control what happens to that basket.”– Elon Musk
“I usually describe myself as an engineer; that’s basically what I’ve been doing since I was a kid.”– Elon Musk
“I think we have a duty to maintain the light of consciousness to make sure it continues into the future.”– Elon Musk
Keys Life Lessons from Elon Musk
We now know everything about Elon Musk and his net worth. Let’s look at some of his lessons.
1. Stay open to new ideas.
A mind should be open so that it can help to embrace new ideas.
2. Don’t be afraid of failure.
Learn from the experience and build yourself to try one more time. Failure happens, but we should keep moving.
3. Keep learning and stay curious
Always strive to learn something new with curiosity.
4. Learn to say no.
It allows mental peace and helps us to value ourselves more than others. Hence it is essential to say no whenever required.
Frequently Asked Questions
Elon Musk’s net worth was estimated at US$ 219 billion as of 2022.
Elon Musk has a degree in physics and economics.
Elon Musk’s wealth was increased by his ownership stake in electric car maker Tesla and other ventures such as Space X and Boring Company.
A South African-born American entrepreneur Elon Musk is one of the wealthiest people in the world. He is a founder of SpaceX, Neuralink, and the Boring Company. Elon Musk was born in Pretoria, a city in South Africa, on June 28, 1971. He has done his higher education at the University of Pennsylvania. He is a product architect of a well-known automotive firm, Tesla, Inc., and a current CEO of Twitter, Inc. The real-time net worth of Elon Musk is 258.1 Billion as of July 2023, and as of May 2022, it is 219 Bn.
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