| net worth: | $198.5 billion |
|---|---|
| age: | 53 |
| date of birth: | June 28, 1971 |
| gender: | male |
| high: | 1.88 m (6 ft 2 in) |
| country of origin: | South Africa |
| Source of wealth: | Entrepreneurs/Investors |
| Last updated: | August 3, 2024 |
What is Elon Musk’s net worth?
Elon Musk is a South African-born Canadian-American business magnate, investor, engineer and inventor with an estimated net worth of $198.5 billion
Musk has been involved in many successful startups. He is the founder, CEO and CTO of SpaceX, CEO of Tesla, co-chairman of OpenAI, and founder and CEO of Neuralink.
Most people know that Elon’s initial success came from founding PayPal, which is now one of the most commonly used online payment gateways. He is the second richest person in the world according to the Bloomberg Billionaires Index.
Quick Facts
- Elon Musk was born on June 28, 1971 in Pretoria, South Africa.
- He taught himself programming at the age of 12.
- He received his bachelor’s degrees in economics and physics from the University of Pennsylvania.
- He started studying at Stanford University but dropped out after just two days to start a business with his brother Kimbal.
- The first company he co-founded was Zip2, an Internet software company for the newspaper industry.
- After selling Zip2, Musk worked on email payment business and founded X.com, which later merged with Confinity to become the famous online payment service – PayPal.
- He founded SpaceX, a spacecraft manufacturing company, and Solar City, a solar power generation systems company.
- In February 2004, he invested $6.5 million to become a majority shareholder in Tesla, an automotive, artificial intelligence, and clean energy company. He has served as the company’s CEO since 2008.
- At Tesla’s AI Day 2022, Musk revealed that they are developing humanoid robots.
- Musk has described himself as a “free speech absolutist” who opposes any censorship.
early life
Elon Musk was born on June 28, 1971 in Pretoria, South Africa.
Musk’s family comes from a multicultural background – his mother is a model from Canada and his father is a mechatronics engineer from South Africa.
Musk has two younger siblings, Kimbal (a restaurateur, chef, and entrepreneur who owns The Kitchen Restaurant Group) and Tosca.
At the young age of 10, Elon discovered his passion for computers.
He taught himself computer programming at age 12; he created a video game called Blastar and sold it to PC and Office Technology magazine for about $500.
Profession
After dropping out of Stanford University to start his own business, Elon founded Zip2 with his brother Kimbal.
Zip2 was a web software company that developed and sold Internet “city guides” for the newspaper publishing industry. It signed contracts with companies such as the Chicago Tribune and the New York Times and was eventually sold to Compaq for $307 million.
Musk used the $22 million from the Zip2 sale to found the email payment company X.com, which later merged with Confinity to become the infamous PayPal.
PayPal becomes the largest online payment transfer company and is acquired by eBay for $1.5 billion in stock. Musk is now $165 million richer.
It was at this time that Elon Musk began to pursue his passion for changing and making the world a better place, investing in Tesla and founding SpaceX and Solar City.
The success of these three companies has grown month by month, which has also caused Musk’s net worth to suddenly soar.
SpaceX is pushing the boundaries of space technology and is committed to reducing the cost of human spaceflight by a factor of 10.
Tesla is committed to solving the fossil fuel crisis in the automotive industry by developing electric vehicles that are affordable, stylish, and safer for the planet.
Solar City is the second largest solar energy system provider in the United States.
Estimated Net Worth
In 2024, Elon Musk’s net worth is estimated to be $198.5 billion.
Elon Musk’s net worth over time
| net worth: | $198.5 billion |
|---|---|
| age: | 53 |
| date of birth: | June 28, 1971 |
| gender: | male |
| high: | 1.88 m (6 ft 2 in) |
| country of origin: | South Africa |
| Source of wealth: | Entrepreneurs/Investors |
| Last updated: | August 3, 2024 |
How does Elon Musk spend his money?
Musk’s wealth is impressive given that he is one of Tesla’s most important investors and is now the company’s CEO, as well as being the owner of other thriving companies.
He’s now the second richest man in the world, so he has plenty of opportunities to spend his money on whatever he wants.
However, he is not one to spend his wealth on expensive hobbies or all-inclusive vacations.
He prefers to work in an office or tour a factory. However, at the end of the day, he returns to one of his four mansions in Los Angeles. He recently bought a fifth property – an unfinished estate worth $24 million.
As an automaker, Musk is passionate about cars. He bought a Lotus Espirit submarine car used in James Bond movies for $920,000 at an auction in 2013. In addition to Tesla cars, he also owns two gasoline-powered cars – a Jaguar E-Type Series 1 Roadster and a Ford Model T.
As the second richest man in the world, he also owns his own plane.
In November 2022, he purchased a luxury private jet equipped with two Rolls-Royce engines, five living areas and 20 windows for $78 million.
emphasize
Here are some highlights from Elon Musk’s career:
- Move to Silicon Valley (1995)
- Sold Zip2 to Compaq for $307 million (1999)
- Created X.com, which later became PayPal (1999)
- eBay acquires PayPal for $1.5 billion (2002)
- Became a U.S. citizen (2002)
- Founded SpaceX9 (2002)
- Became CEO of Tesla (2008)
- Tesla begins delivering the all-electric Model S (2012)
- Model X released (2015)
- Tesla and SolarCity merge (2016)
- Model 3 launched (2017)
- SpaceX Falcon Heavy rocket launch (2018)
Favorite Elon Musk Quotes
“Some people don’t like change, but if the alternative is disaster, then you need to embrace it.” — Elon Musk
“I think it’s really important to have a feedback loop where you’re constantly thinking about what you did and how you could do it better. I think that’s the best advice: constantly think about how you could do it better and question yourself.” — Elon Musk
“When something is important enough, you’ll do it even if the odds are against you.” — Elon Musk
“Patience is a virtue, and I’m learning patience. It’s a hard lesson.” — Elon Musk
Check out our collection of the best Elon Musk quotes!
Elon Musk’s 3 success stories
Here are 3 success lessons we can learn from Elon Musk:
1. Don’t be afraid to put yourself in uncomfortable situations
Elon has previously explained that after selling PayPal, he invested almost all of the proceeds into other companies. He took a huge risk and could have easily lost his hard-earned personal wealth.
However, Musk has a vision, so he is not afraid to take risks. We all know how well it paid off for him, with his wealth 15 years later being more than 100 times what he earned from PayPal.
“I made $180 million from buying PayPal. I invested $100 million in SpaceX, $70 million in Tesla, and $10 million in Solar City. I had to borrow money to pay my rent.” – Elon Musk
2. Focus on building great products
Elon Musk = amazing products.
PayPal, Tesla, SpaceX, Solar City — they all focus on providing the best solution for their target market. That’s why they’ve been so successful, and it’s this focus that determines the quality of the final product.
The truth is, if your end product isn’t good enough, then nothing else you do will help you achieve the same success.
3. Follow the ultimate vision
Musk is changing the world, using space and automotive technology to revolutionize the world as we know it. He wants to change the world, and he is changing the world.
This is his vision, his goal, and once he has money, he will put all his energy into this goal. You should always follow your vision, not someone else’s.
Frequently Asked Questions
How much is Elon Musk worth?
Elon Musk’s net worth is estimated to be $198.5 billion.
How old is Elon Musk?
Elon Musk was born on June 28, 1971 and is 53 years old.
How tall is Elon Musk?
Elon Musk’s height is 1.88 meters, which is equivalent to 6 feet 2 inches.
Did Elon Musk buy Twitter?
Yes, he successfully acquired Twitter and the transaction was completed on October 28, 2022. Musk paid $44 billion to become the owner of Twitter.
Has Musk been sued?
Yes, shareholders sued Musk, Tesla, and Tesla directors over a post on Twitter that Musk was considering taking Tesla private.
Does Musk’s wealth ever support philanthropy?
Yes — the most prominent example came last year, when Musk donated $1.9 billion worth of Tesla stock to charity.
The name of the charity that received such overwhelming support was not revealed.
Summary
Elon Musk is a man who is willing to take risks to grow his wealth.
Even after receiving a huge payout from PayPal, he still invested almost all of his money into SpaceX and Tesla to realize his vision.
Elon Musk’s net worth is estimated to be $198.5 billion, and since his current companies are all focused on the future, that number is sure to only get bigger.
What do you think of Elon Musk’s net worth? Leave a comment below.
Categories: Net Worth
Source: svlsf.edu.vn