June 28, 1971
South Africa, US
Source(-s) of wealth
Businessman Engineer Inventor
Who Is Elon Musk?
As the CEO of Tesla and SpaceX, Elon Musk is one of the richest men in the world with a net worth of over $300 billion. But how did he make his money? And where does he spend it?
Elon Reeve Musk (born June 28, 1971) is a business magnate, industrial designer, and engineer. He is the founder, CEO, CTO, and chief designer of SpaceX; early investor, CEO, and product architect of Tesla, Inc.; founder of The Boring Company; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI. A centibillionaire, Musk is one of the richest people in the world.
A brief history of Elon Musk
Elon Musk Childhood & Education
Musk was born to a Canadian mother and South African father and raised in Pretoria, South Africa.
Musk has always been interested in technology and innovation. When he was just 12 years old, he created a video game called Blastar and sold it to a magazine for $500. He went on to study physics and economics at the University of Pennsylvania, before dropping out to pursue his entrepreneurial dreams.
He briefly attended the University of Pretoria before moving to Canada aged 17 to attend Queen’s University. He transferred to the University of Pennsylvania two years later, where he received dual bachelor’s degrees in economics and physics.
Elon Musk Business activities
He moved to California in 1995 to attend Stanford University but decided instead to pursue a business career, co-founding web software company Zip2 with his brother Kimbal. The start-up was acquired by Compaq for $307 million in 1999.
X.com / PayPal
From the sale of Zip2 Musk co-founded online bank X.com that same year, which merged with Confinity in 2000 to form the company PayPal and was subsequently bought by eBay in 2002 for $1.5 billion.There was a $175.8 million compensation payment to Musk, the largest shareholder with 11.72% of shares.
In 2002, Musk founded SpaceX, an aerospace manufacturer and space transport services company, of which he is CEO, CTO, and lead designer. SpaceX is a company located in Hawthorne, California that manufactures spacecrafts, provides space launches, and develops satellite communications systems.
The company is developing a satellite constellation for commercial internet service called Starlink.
In 2004, he joined electric vehicle manufacturer Tesla Motors, Inc. (now Tesla, Inc.) as chairman and product architect, becoming its CEO in 2008. Located in Austin, Texas, Tesla is an American multinational automotive and clean energy company.
As a leading manufacturer of electric vehicles, cars and trucks, energy storage devices for home and grid-scale applications, solar panels and solar roof tiles, and related products and services.
With a market capitalization of more than US$760 billion, Tesla remains the world’s most valuable automaker.
Elon Musk, CEO of SpaceX and Tesla, Inc., and Peter Rive, nephews of Maye Musk, founded the company on July 4, 2006. Solar City provides the 2nd largest amount of solar power systems in the United States.
As of March 2016, Musk’s net worth is estimated to be $13.9 billion.
Neuralink was founded by Musk in 2016 in order to integrate artificial intelligence with the human brain using embedded devices that enable the merging of machines and humans.
The Boring Company
A tunnel construction company was founded by Musk in 2017. In early 2021, a tunnel was completed beneath the Las Vegas Convention Center
What is Elon Musk Net Worth in 2022?
Net worth is often thought of as a static number, but for people like Elon Musk, it’s constantly changing. That’s because a large portion of Musk’s net worth is tied up in his companies, Tesla and SpaceX. So, when Tesla’s stock price goes up, so does Musk’s net worth. Likewise, when SpaceX has a successful launch, Musk’s net worth gets a boost.
Tesla, SpaceX, and Solar City, these three companies have had a huge increase in growth over the last year, and are responsible for founder Elon Musk’s newest jump in net worth.
This year has been particularly good for Musk. Tesla’s stock price has more than doubled, thanks to the company’s strong performance. And SpaceX had a string of successful launches, including one that sent two astronauts to the International Space Station.
As a result, Musk’s net worth is now estimated to be around $244 billion.
That puts Musk in pretty rarefied air. There are only a handful of people in the world with a net worth that high. But it’s also worth noting that Musk’s net worth could change dramatically in the future. If Tesla or SpaceX hit a few bumps in the road, Musk’s net worth could drop sharply. So, while he may be wealthy today, his fortune could be very different tomorrow.
Musk has been extremely successful in business, and his net worth continues to grow. He is always looking for new opportunities and ways to push the boundaries of what is possible. We can’t wait to see what he does next!
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