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How much is Elon Musk Net Worth in 2024?

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Elon Musk Net Worth:

$264 Billion

Elon Musk’s Salary

Elon Musk is a successful businessman, entrepreneur, and investor who was born in South Africa and now resides in Canada and the United States. The total amount of wealth that Elon Musk has amassed is $264 billion. Elon Musk is currently the most well-known for his roles as CEO and CTO of SpaceX, CEO and chief product architect of Tesla Motors, and chairman of SolarCity. Despite the fact that he wears many hats and is always striving to top his most recent project, Musk is best known for these roles at this time. He currently holds the title of being the richest person in the world as well as the richest individual in the history of the modern era.

As of the time of this writing, Elon Musk controls around 43% of privately held SpaceX and approximately 24% of Tesla’s outstanding shares. In October of 2021, Tesla’s market valuation became the first in the world to surpass $1 trillion. During the same month, SpaceX successfully raised money at a valuation of $100 billion. At this point, Elon’s net worth came dangerously close to passing the $300 billion mark for the first time.

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Net Worth:	$264 Billion
Salary:	$0
Date of Birth:	Jun 28, 1971 (51 years old)
Gender:	Male
Height:	6 ft 2 in (1.88 m)
Profession:	Aerospace Engineer, Engineer, Entrepreneur, Investor, Designer, Businessperson, Inventor, Film Producer
Nationality:	South Africa

Net Worth History

On the first of the year 2020, Elon had a net worth of $28 billion. At the end of the year 2020, his net worth was 170 billion dollars.

On July 10, 2020, Elon’s net worth officially surpassed $70 billion for the first first time. At that moment, around $15 billion may be attributed to the privately owned company SpaceX, while the rest of $55 billion could be attributed to Tesla.

When Elon’s net worth reached $80 billion for the first time on July 13, 2020, $15 billion of it was contributed by SpaceX, while the remaining $65 billion was contributed by Tesla.

Elon’s net worth surpassed $90 billion for the first time in August of 2020, thanks to the contributions of two significant causes. To begin, Tesla’s share price reached a new all-time high of $1,900 in the middle of August. When it reached that point, the total market valuation of the corporation was $350 billion. The value of Elon’s 20 percent share was estimated to be $70 billion. The second consideration was a rise in SpaceX’s valuation, which was formally announced on the 18th of August, 2020. Following the completion of the fundraising round, SpaceX’s private valuation rose to $46 billion, up from $36 billion previously. Elon Musk’s 48% share in Tesla, which is currently valued at $46 billion, contributes an additional $22 billion in pre-tax wealth to Elon’s overall net worth.

Elon Musk’s personal wealth officially surpassed $100 billion for the first time on November 17, 2020. When this occurred, he moved up one spot on the list of the world’s wealthiest people, passing Mark Zuckerberg on the way to his new position.

Elon Musk’s personal wealth crossed the $128 billion threshold for the first time on November 24, 2020. When this occurred, he moved up one spot on the list of the world’s wealthiest people, moving past Bill Gates into the number two spot. On that day, he was $54 billion short of Jeff Bezos’ net worth of $184 billion, and his net worth has officially climbed by $100 billion since the first of the year 2020.

Elon Musk’s personal wealth reached $195 billion on January 7, 2021. It was on this day that Elon Musk became the richest person in the world, surpassing Jeff Bezos in wealth for the first time.

After having a net worth of $170 billion at the beginning of the week, Elon finished the week with $210 billion, as reported on January 8, 2021.

Elon Musk’s personal wealth reached a total of $300 billion in October 2021, when Tesla’s market capitalization had surpassed $1 trillion and SpaceX was valued at $100 billion.

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Elon Musk’s personal wealth reached $335 billion on November 1, 2021, the day when Tesla’s market cap passed $1.2 trillion for the first time.

Tesla Salary

As CEO of Tesla, Elon does not get a salary. Instead, he has a compensation scheme that is related to the company’s market valuation milestones in a way that is both exceedingly uncommon and tremendously rewarding. When the strategy was developed, Tesla had a market cap of approximately $50 billion. There are a total of 12 milestones, and each one is based on a market cap growth of $50 billion.

Elon achieved each and every one of the milestones, and as a result, he is eligible to receive the whole 100 billion dollars under the bonus plan. Following confirmation from the Board of Directors that the target has been met, the relevant number of shares will be distributed on a quarterly basis.

On the Beginning

The 28th of June, 1971 found Elon Musk was born in Pretoria, South Africa. At the age of ten, Musk purchased his first computer and taught himself how to write computer programs. At the age of twelve, he sold his first piece of software, which was a game he had written named Blaster. He moved to Canada in 1989 when he was 17 years old in order to attend Queen’s University. He left Canada in 1992 in order to attend the University of Pennsylvania and major in both business and physics. Musk received his undergraduate degree in economics, went on to acquire a second bachelor’s degree in physics, and then pursued a doctorate in energy physics after completing his studies for that degree. However, he decided to forego his education at Stanford University in order to participate in the expansion of the internet.

Success

The first company that Musk founded was called Zip2 Corporation, and it was an online city guide. In 1999, a division of Compaq Computer paid $307 million in cash and $34 million in stock options to acquire Zip2. This transaction took place. In the same year, 1999, Musk was also a co-founder of the online financial services and payments startup X.com. The next year, X.com was acquired, which resulted in the establishment of PayPal as it is known today. In 2002, eBay purchased PayPal for $1.5 billion in stock after PayPal had been created as a result of the X.com transaction.

Musk established his third firm in 2002 under the name Space Exploration Technologies Corporation (often known as SpaceX), with the purpose of developing spaceships for use in commercial space travel. By the year 2008, SpaceX had already built a solid reputation, and the United States National Aeronautics and Space Administration (NASA) had awarded the business a contract to handle cargo transport for the International Space Station, with future plans including astronaut transport.

Following that was Tesla Motors, an automobile manufacturer with the mission of creating electric vehicles that are accessible to the general public at reasonable prices. In 2003, Martin Eberhard and Marc Tarpenning laid the groundwork for what would become Tesla. Elon, Ian Wright, and J.B. Straubel were the initial workers of the firm and were later given the title of co-founders through a process of retroactive incorporation.

In June of 2010, Tesla Motors went public for the first time, successfully generating a total of $226 million. Prior to this, Daimler had already purchased a stake in the company and formed a strategic partnership with Toyota. Musk and SpaceX created history in 2012 when they successfully launched an unmanned spacecraft into orbit atop a Falcon 9 rocket owned by the firm. In 2013, he unveiled an idea for a new kind of transportation called the Hyperloop, intended for travel at speeds greater than 700 mph to commute between large cities.

In a contrast to railroads, the Hyperloop would employ tubes for transportation. Musk estimates that the construction, testing, and launch of the Hyperloop might take anywhere from seven to ten years.

Details Regarding the Wealth of Elon Musk

At the time that this article was written, Elon Musk owned 43% of the rocket manufacturer SpaceX as well as 24% of Tesla.

In a legal deposition that took place in 2019, Elon Musk revealed that he is, in fact, somewhat cash-poor and that 99% of his personal fortune can be attributed to shares in Tesla and SpaceX. Musk also stated that he does not have any debt. Additionally, the lawsuit disclosed that Musk receives a base income of $56,380 from Tesla. In most years, he decides against accepting the compensation. During the time that the case was being filed, Musk owed a total of $500 million in debt, the majority of which was owing to Morgan Stanley and Goldman Sachs. The debt he owed to Morgan Stanley in connection with his home mortgage was around or exactly sixty million dollars. Since then, he has paid off this mortgage obligation by selling off the majority of his properties.

It is said that in order to create SpaceX, he spent all of the liquid capital he had earned from his prior business sales.

In January of 2018, Tesla’s board of directors revealed that Musk would be eligible for a pay package that would eventually be worth $100 billion. According to the plan, Musk would have been eligible to receive up to $100 billion in stock options over the course of a decade, distributed in 12 tranches. When Tesla’s market capitalization reaches $100 billion, the first tranche of option grants will be issued (roughly double the value when the plan was announced). From that point on, Elon received another of the tranches every time the firm climbs in market cap by $50 billion.

In the event that he did not reach any of the 12 tiers of achievement, he would have been awarded no reward.

As Tesla’s market valuation ultimately soared past $1 trillion for the first time in October 2021, Elon Musk was eventually able to unlock all 12 tiers of the compensation plan within a span of just three years.

Personal Life

Elon has been married three times, both times to the same woman, who is an actress named Talulah Riley. Between the years 2000 and 2008, he was married to the Canadian author Justine Wilson. They have five sons between them. In addition to that, he has been romantically linked to the actress Amber Heard as well as the Canadian musician Grimes. Grimes and Elon became parents to a son in May of 2020, and they called him X A-Xii. In December of 2021, they became the proud parents of a second child who was born through surrogacy.

In the latter part of the year 2021, Elon also became the proud parent of a pair of twins who were born to one of his Neuralink executives.

As of the time this article was written, he is a father to a total of ten children.

It was rumoured in July 2022 that Elon Musk had an affair with Sergey Brin’s wife, who is also the co-founder of Google, in the month of December 2021. Reportedly as a result of the affair, Sergey initiated the divorce proceedings against his wife of four years, Nicole Shanahan. Unfortunately, Sergey had been for a long time one of Musk’s most ardent fans. He took an investment position in a number of Musk’s firms, including being one of the company’s first investors.

Real Estate Holdings

Before selling it all, Elon’s California real estate portfolio was worth a total of $100 million. He still owns a mansion that was built 100 years ago and has 16,000 square feet of living space. It is located on roughly 50 acres in the town of Hillsborough in Northern California. He paid $23.364 million for this home back in 2017, when he made the purchase.

In Southern California, he owned six properties in the Bel-Air region of Los Angeles. These homes were located in Los Angeles. His footprint in Bel-Air included a 20,000 square foot house that he purchased in 2012 for $17 million, a 7,000 square foot house that he purchased in 2015 for $20 million, and a 9,300 square foot house that he purchased in 2016 for $24.25 million. In the year 2020, Elon surprised the entire world by declaring that he planned to sell all of his goods, beginning with his houses in Los Angeles. In accordance with what he had promised, he went ahead and sold off each residence. In December of 2020, he sold all four of his homes at once to a single purchaser.

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