Know the Net Worth of Elon Musk “The Great Business Magnate”

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Elon Musk Net Worth

Elon Musk Net Worth – $185 billion

Elon Musk “A Person With Nearly Impossible Dreams – The Person who is highly confident that his company will take humans to Mars by 2026.” It seems like there is nothing that the CEO of SpaceX and Tesla, Elon Musk, can’t do. He has had a clamorous yet successful life. At present Elon Musk is the richest man of the world with a net worth of $185 billion. On January 7, 2021 he overtook Amazon’s Jeff Bezos and became the wealthiest man on the planet.

Elon’s passion and love for innovation have led him to become one of the richest persons in the world. Now you must be thinking, what is Elon Musk net worth?

Here is an article that will take you to explore the innovative and amazing world of Elon Musk. Moreover, this article also includes best Elon Musk quotes that will allow you better understand the thought process of this great business magnate. 

Who is Elon Musk? 

Elon Musk Net Worth – $185B

Born – June 28, 1971

Country of Origin – South Africa

Age – 49

Profession – Entrepreneur, Inventor, Investor, Business Magnate

South Africa and American Entrepreneur, Elon Musk is known for founding SpaceX and Tesla. He was born in South Africa, and in the past decade, he has become one of the most popular personalities. 

Elon Musk founded E.com in 1999. At present, it is known as PayPal. He founded SpaceX in 2002 and later founded Tesla Motors in 2003. Elon became a multimillionaire by selling his startup company named Zip2. He sold it to a division of Compaq computers. 

Elon Musk became a popular personality in May 2012 when his company SpaceX launched a rocket. The rocket would work to send the commercial vehicle to the International Space Station. When Musk launched the rocket, he became the main part of every headline. 

Musk fortified his portfolio by purchasing SolarCity in 2016. Moreover, he cemented his status as a powerful leader of the industry by taking the role of advisory in the early days of President Donald Trump’s administration.

At present, Elon Musk is one of the 25 richest people in the world (Source).

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Elon Musk Net Worth

Is Elon Musk a billionaire? The answer is, “Yes.”Elon Musk is a business magnate with a net worth of $185B (Source).

He is working with the intent to revolutionize transportation on earth as well as space. For earth, he is working to ramp up transportation through his electric cars Tesla. On the other hand, for space, he is working through rocket producer SpaceX. 

He is the owner of a 21 percent share of Tesla. However, he has pledged more than half of the stakes as collateral loans. Musk’s rocket company SpaceX is now valued at around $36 billion. 

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Elon Musk Salary

Now that you know Elon Musk net worth, you must be wondering, how much is Elon Musk salary? You will be surprised to know that Elon Musk does not take any salary as CEO of Tesla.

He has a potentially lucrative bonus plan tied to the cap milestones of the company’s market. In total, there are a total of 12 milestones that are based on $50 billion cap increases. If Musk hits all the milestones, he can earn around $100 billion in bonuses. 

Early Life

Till now, you may have got an idea about Elon Musk net worth. Now, let’s have a look at the early life of Musk. 

Elon was born in Pretoria, South Africa, on June 28, 1971. When he was ten, He got his first computer and at the age of 12, he made his first software.

Musk was introverted, short, and bookish. He was bullied until the age of 15. During this time, he went through a spurt and decided to learn karate and wrestling in order to defend himself. 

Family

The Father of Elon Musk is Errol Musk, who is a rich South African Engineer. His mother, Maye Musk, is a famous Canadian Model. She is the oldest woman to star in a campaign of Covergirl. When Musk was growing up, Maye worked for five jobs in order to support the family. 

Elon spent his early childhood with sister Tosca and brother Kimbal in South Africa. Maye and Errol got divorced when Musk was 10. 

Education

In 1989, he moved to Canada at the age of 17 to study at Queen’s University. He did not participate in the mandatory services in the military of South Africa. Elon got his Canadian citizenship in the same year.

In 1992, Elon left Canada to study physics and business at the University of Pennsylvania. He attained an undergraduate degree in economics and continued studies for a second bachelors’ degree in Physics.

After completing studies at Pennsylvania, he attended Stanford University in California to get a Ph.D. in energy physics. He dropped out of Stanford University in 1995 to launch his first startup named Zip2 Corporation. In 2002, he became a citizen of the U.S. 

Success

In 1995, Elon launched his first startup named Zip2 Corporation, which was an online city guide. In 1999, a division of Compaq Computers purchased the company for $307 million in cash. Moreover, it also gave $34 million to Elon in stock options. 

In the same year, Musk co-founded X.com. It was an online payments company. An acquisition of X.com led to the creation of PayPal in the following year. In 2002, eBay acquired PayPal for $1.5 billion in stock. 

Elon always believed that for survival, it is important for humanity to become a multi planet species. Nevertheless, he was not satisfied with the higher expense of rocket launchers.

In 2002, Musk founded his third company named Space Exploration Technologies Corporation (SpaceX). He founded the company with the intent to build a spacecraft for the purpose of commercial space travel.

By the year 2008, SpaceX was properly established. Moreover, NASA provided a contract to the company to handle the work of cargo transport with the plans to transport astronauts in the future. The contract was to handle the work of transport for the International Space Station. 

The next achievement of Elon Musk was Tesla Motors. It was an automobile company that was dedicated to producing electric cars. The company was founded by Marc Tarpenning and Martin Eberhard in 2003. Elon, along with Marc Parpenning and Martin Eberhard, were the first employees of the company. Moreover, he was also one of the co-founders. 

In June 2010, Tesla Motors launched its first public offering, which raised the worth of the company to $226 million. In 2012, SpaceX made history by launching the Falcon 9 rocket into space. 

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Elon Musk Net Worth in Details

Now let’s discuss Elon Musk net worth in detail. Musk is the owner of 54 percent stakes at SpaceX.

In Tesla, he owns 21% shares. In January 2020, Elon’s stake in Tesla was worth $18 billion. Over the next two months, the value of his stakes doubled to $36 billion, which took the overall net worth of Elon Musk to $56 billion. 

In July 2020, Musk’ net worth was around $63 billion. When stocks of Tesla topped $1,500 per share in the same month, Elon’s worth rose to $70 billion. Around 50% of Tesla’s shares are pledged to Morgan Stanley and Goldman Sachs. 

Personal Life

Elon has been married thrice. He was married twice to the same woman named Talulah Riley. From 2000 to 2008, Elon was married to Justine Wilson, who is a Canadian author. They had five sons together.

He was also romantically involved with famous Canadian musician Grimes and actress Amber Heard. In May 2020. Elon Musk and Grimes welcomed a baby boy, X Æ A-Xii.

Real Estate

Now that you know about Elon Musk net worth let’s discuss his real estate holdings.

Elon Musk owns real estate in California or worth around $100 million. In Hillsborough, which is a town in Northern California, he owns a 100-year-old villa which is 16,000 square foot. It sits on around 50 acres. He purchased this house in 2017 for $23.364 million. 

Elon Musk owns around six houses in Southern California. His footprints there include a house of 20,000 square foot which he bought in 2012 for around $12 million. 

In 2015, he bought a 7,000 square foot house for $20 million. He also purchased a house of 9,300 square foot in 2016 for around $24.25 million. 

Elon Musk Quotes

Elon Musk is one of the most influential personalities at the present time. Below mentioned are some of the popular Elon Musk quotes. 

  • Life is too short for long-term grudges.”
  • If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.”
  • When something is important enough, you do it even if the odds are not in your favor.”
  • Failure is an option here. If things are not failing, you are not innovating.” 
  • “Take risks now and do something bold. You won’t regret it.” 
  • Patience is a virtue, and I’m learning patience. It’s a tough lesson.”
  • If the rules are such that you can’t make progress, then you have to fight the rules.”

Above mentioned are some of the amazing Elon Musk quotes which will not only encourage you, but will also help you to understand the thought process and point of view of Musk. 

Final Words

Elon Musk net worth is $185 billion. He is one of the richest people on the planet. Musk owns 21% stakes in Tesla and 48% in SpaceX. He is relatively cash-poor. Musk has an estimated debt of around $500 million owned by Goldman Sachs and Morgan Stanley. Moreover, half of his Tesla equity is pledged to the bank debts. If you find the information about Elon Musk net worth helpful, drop a comment. 

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