Elon Musk Net Worth

Net Worth$44.5 billion
Date of Birth28 June 1971
ProfessionCEO of SpaceX
NationalityAmerican
Last Updated2020

Introduction:

Elon Musk Net Worth, How did one of the world’s richest men earn such fortune? Sit back and enjoy reading as we reveal more about Elon Musk Net Worth and his career.

Elon Musk Net Worth

Elon Musk Early Life

Elon Musk is a South African born tech guru, entrepreneur and engineer. His parents got divorced while he was at age 9 so he had to stay with his dad a decision he later regretted.

He gained interest in computing at age 10 and was self-taught programming. Musk sold a BASIC coded video game for $500 at age 12.

As a child, Musk was bullied and spent some time in the hospital. As regards his education, he attended WaterKloof House Preparatory School, Bryanston High School and finally graduated from Pretoria Boys High school.

He finally decided to study in the United States against the desire of his dad to study in South Africa. Musk believed that the United States is a nation where opportunities abound.

Also, Musk felt it was easier to get to the US from Canada. He relocated to Canada at age 17 to study at Queen’s University.

He relocated to the United States at the age of 20 and studied business and physics at the University of Pennsylvania where he obtained a degree in economics and physics. At age 30, Musk acquired his US citizenship.

Elon Musk Career

Elon Reeve Musk was born on 28th of June, 1971, in Pretoria, South Africa. He is mostly known for his electric car company Tesla and rocket company SpaceX. 

Aside from the previously listed companies, he also has stakes in numerous companies which include; Neuralinks, PayPal, Solar City and OpenAI. In partnership with his brother started ‘Zip2’ a web software company in 1995. Compaq bought the company in 1999 at a price tag of $307 million of which he had a seven percent stake in.

Musk took some of his proceeds from the sale of Zip2 in 1999 to co-start another company ‘X.com’ an online banking service firm later got its name changed to PayPal.

Then in 2002, PayPal was acquired by Ebay for a sum of $1.5 billion which Musk had an eleven percent stake. He proceeded to start another company ‘SpaceX’ a space rocket company with the aim of technologically advancing rockets.

SpaceX made history when its Falcon rocket became the first privately funded vehicle to put a satellite into earth’s orbit. Musk got a contract from NASA to continue the development of the Falcon rocket and Dragon spacecraft in 2006. They eventually received another contract from NASA worth $1.6 billion.

However, the company has gone on to build more series of Falcon and Dragon space vehicles. The company is currently the largest producer of rocket engines having produced more than 100 Merlin 1D engines.

Its major customers are the United States Defence Ministry and the government of Malaysia. With the hope of seeing vehicles run on electricity, Musk started another company ‘TESLA INC.’ in 2003 with the help of Marc Tarpenning and Martin Eberhard who helped finance it.

He assumed the role of CEO in 2008 to oversee the building of Tesla’s first electric sports car ‘Tesla Roadster’ that sold 2,500 units in 31 countries. However, popular car companies like Toyota and Mercedes have invested in the brand.

Tesla opened a gigantic factory in China in 2019 to serve its Asian market and is the only gigantic factory outside the US. The company’s products are currently the leading electric vehicle company in the world having sold over a million units.

Elon also co-founded Solar city, the second largest solar power system in the United States which has a gigantic factory in Buffalo, New York. He owns OpenAI, an artificial intelligence research company with a goal of combing the human brain with artificial intelligence.

In terms of philanthropy, Musk owns a foundation named ‘The Musk Foundation’ through which he gives to charity and has given more than $10 million since its inception.

Elon Musk Net Worth

As of today, Elon Musk Net Worth is $44.5 Billion. Elon Musk Net Worth is acquired from his companies.

He acquired a house in Los Angeles which is worth $4.2 million in 2014. Musk also owns a Bel Air mansions valued at $70.3 Million and located in Los Angeles.

Elon Musk became a millionaire at a young age and he is currently a billionaire as he is rated by Forbes as one of the richest and most influential people in the world.

Summary: 

Elon Reeve Musk South African born tech guru, entrepreneur and engineer. He is mostly known for his electric car company Tesla and rocket company SpaceX.

As of 2020, Elon Musk’s net worth is $44.5 Billion.

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