Elon Musk Net Worth (2023)

Introduction

Elon Musk is a charismatic and unique American Entrepreneur, inventor, and investor. He is the wealthiest person in the world, with a net worth of $219 Billion. He co-founded the electronic payment firm PayPal and formed SpaceX. He is currently the CEO of Tesla, an electronic car manufacturer, and SpaceX, which designs and manufactures advanced rockets and spacecraft. He introduced the concept of the Hyperloop in 2013, which is high-speed and cheap transportation. He founded the Boring Company, which creates safe, low-cost transportation and fast-to-dig tunnels. He has been awarded the FAI Gold space medal for designing the first privately developed rocket to reach orbit. He aims to convert science fiction into reality. Elon Musk works in fields that define our future. He has brought up disrupted industries. He believes people work better when they know the goal and why.

Early Life

Elon Musk is born in a middle-class family in Pretoria, South Africa. Elon Musk was bullied a lot in his childhood. At age 10, Musk started growing an interest in Technology and programming. He learned computer programming through Manuel using a Commodore VIC – 20. Later, he became skillful enough to create a video game – Blaster, about space Invaders. He sold the game to a magazine for $500.

To avoid mandatory military service in South Africa, Elon applied for a Canadian passport and attended the University of Pretoria simultaneously. At the age of 17, he shifted to Canada. For two years, he studied at Queen’s University in Kingston. He later moved to the University of Pennsylvania, where he graduated with a Bachelor of Arts degree in physics and a bachelor of science degree in economics from Wharton school. He got accepted into Stanford for PhD program in material science, but he dropped out in 2 days to launch a startup.

Career

Musk started his career journey with Zip2, a web software company that helped newspaper companies create an online travel guide. He founded this company with his younger brother – Kimbal. He soon sold this company for $341 million and used this money to create X.com, later known as Paypal. PayPal was a fintech venture partnered with a money transfer firm called confinity. eBay then acquired PayPal for $1.5 Billion. Musk received $180 million from this buyout because of his 11.7% stake. He used that money to invest in SpaceX, Tesla and Solar City.

Musk founded Space Exploration Technologies Corporation in 2002, which launches and develops affordable rockets. Currently, Elon is the CEO and CTO of SpaceX musk and the chief designer of Falcon rockets, Dragan Spacecraft and Starship Spacecraft. Starship is designed explicitly for providing Swift transportation on earth and building bases on Moon and Mars. Musk has big plans for SpaceX. He has recently partnered with NASA to send an astronaut to Mars in 2025. Later in 2004, Musk became one of the founders of Tesla Motors, an electronic company founded by Martin and Marc. Tesla introduced interesting, light electric cars with bewildering features like travelling 394 km on one charge, and changing speed from 0-60 miles in 4 seconds, among others. In 2015, Model S by Tesla quickly became the best-selling electric car of the era.

Musk is renowned for frequently posting on Twitter. He has a 9.2% stake in Twitter. He was offered a seat on the board, which he later declined with a proposal to buy Twitter at $54.20 per share. Twitter declined at first but ultimately accepted its offer. Later, Musk withdrew his bid, stating Twitter had not provided specific information. In 2019, Elon Musk also released a rap song, “RIP Harambe”. In 2020, he released an EDM track, ‘Don’t doubt Ur Vibe,’ written and performed by him.

Net Worth

Elon musk’s net worth is around $219 billion as of 2023. He earns his money by investing in his ideas and companies founded by him. He has stakes in TheboringCompany, Tesla, SpaceX, Twitter, Neuralink and Solarcity. Most of his wealth is accountable to Tesla, as he holds a significant stake in the company.

Salary

Elon Musk’s salary is around $23 Billion a year. He was the top-paid chief executive officer in 2021.

As of 2023, Elon Musk’s net worth is $219 billion.