South African-born Canadian-American businessman and inventor Elon Musk is also a big fan of the stock market. Elon Musk has a total worth of $250 billion, which is a lot of money. If you know him, you know that he has a lot of different jobs and is always working on new things. People know him as the CEO of the company and CTO of SpaceX, the CEO and chief product architect of Tesla Motors, and the chairman of SolarCity. This person is the richest person in the world and in the history of the world, too.
As of this writing, Elon Musk owns about 24% of Tesla’s shares and about 43% of SpaceX, which is a private company. In October 2021, for the first time, Tesla’s market value hit $1 trillion for the first time. That same month, SpaceX took money at a value of $100 billion. As of this point, for the very first time, Elon’s net worth was close to $300 billion.
History of Elon’s Net Worth:
On July 10, 2020, Elon’s net worth reached $70 billion for the first time in his life. At that point, SpaceX was responsible for about $15 billion, and Tesla was responsible for the rest of the $55 billion. SpaceX made $15 billion and Tesla made $65 billion for Elon when his net worth hit $80 billion for the first time on July 13, 2020. This is how much money he had in 2020.
Elon’s Net Worth Hit:
The first time Elon’s net worth hit $90 billion was in August 2020, thanks to two important things. In the mid of August, Tesla shares hit an all-time high of $1,900, which was a record high for the company. There were $350 billion worth of shares in that level of the company’s stock market value. Elon’s 20% stake in the company was worth $70 billion. The second reason was that SpaceX’s value went up, which was officially confirmed on August 18, 2020. SpaceX’s private value now stands at $46 billion, up from $36 billion. At a value of $46 billion, Elon’s 48% stake adds $22 billion in pre-tax wealth to Elon’s wealth. In 2020, for the first time, Elon’s net worth will reach $100 billion for the first time. Then, for the first time, he became the third-richest person on Earth.
Second Richest Person:
In 2020, for the first time, Elon’s net worth will reach $128 billion for the first time. He became the second-richest person in the world for the first time when he beat Bill Gates. Because his net worth had grown by $100 billion since January 1, 2020, he was $54 billion from Jeff Bezos’ $184 billion on that day.
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Richest Person in the World:
It was on January 7, 2021, that Elon’s wealth grew to more than $195 billion. On this day, Elon became the richest person in the world for the first time. On January 8, 2021, Elon had a net worth of $210 billion at the end of the week, after starting the week with $170 billion. Tesla’s market value hit $1 trillion in October 2021, and SpaceX was worth $100 billion at the time. This meant that Elon had a net worth of $300 billion at the time. If Tesla’s market value hit $1.2 trillion on November 1, 2021, Elon Musk had a net worth of $335 billion at that time.
People Who Work for Tesla Get Paid a Lot of Money:
People don’t pay him for his work at Tesla, so he doesn’t get any money. So it’s not unusual for him to have a bonus plan linked to the company’s market cap goals. It was worth about $50 billion when the project was made, so it was a good thing to do.
There are 12 total milestones based on the value of the stock market going up by $50 billion. Elon met all of the goals in the bonus plan, so he was eligible to get all of the $100 billion. Shares from this plan are released every three months after the Board of Directors confirms that the goal has been met.
Early in Life:
ELON MUSK was born on June 28, 1971. Pretoria, South Africa is where he grew up. A lot of people say that Musk learned how to program on his own at the age of 10. A game he made called Blaster sold when he was 12 years old. At the age of 17, in 1989, he moved to Canada to go to Queen’s University. ELON MUSK left in 1992 to study business and physics at the University of Pennsylvania, but he came back in 2003. Musk graduated from college with a bachelor’s degree in economics. He then went on to get a second bachelor’s degree in physics, then went on to get a Ph.D. in energy physics. But he dropped out of Stanford University in order to be a part of the rise of the internet.
Zip2 Corporation was Musk’s first business. It was an online city guide for people. Compaq Computer bought Zip in 1999 for $307 million cash and $34 million in stock options, which is how much it paid for the company. Also in 1999, Musk helped start X.com, which was a company that did online financial services and payments. Next, X.com was bought by eBay for $1.5 billion in 2002. PayPal was bought by eBay for $1.5 billion in stock.
Transportation In The Future:
It was in 2002 that Musk started his third company, Space Exploration Technologies Corporation (SpaceX). The company was set up to build spacecraft for commercial space travel. By 2008, SpaceX had become a well-known company. NASA gave the company the job of transporting cargo to the International Space Station, with plans for astronaut transportation in the future, in 2008.
Next was Tesla Motors, a company that makes electric cars that are cheap and easy to buy for everyone. They made Tesla happen in 2003. Martin Eberhard and Marc Trepanning made it happen. As a result, Elon, Ian Wright, and J.B. Straubel were named co-founders of the company after they worked there for a while.
A stake in the company was bought by Daimler. They also have a strategic partnership with Toyota made its first public offering in June 2010. The company made $226 million from the sale. In 2012, Musk and SpaceX made history when they sent a Falcon 9 rocket into space with a capsule that wasn’t manned at the time. In 2013, he came up with the idea for a new kind of transportation called the Hyperloop. It would be able to travel at speeds of more than 700 mph between major cities. As an alternative to trains, the Hyperloop would use tubes to move people. Musk says it could take up to 10 years to build, test, and be ready for use.
Founder of the Company:
Elon Musk is the founder of the company. People who have a lot of money and want to know about SpaceX and Tesla are both owned by Elon Musk. As of this writing, he owns 43% of SpaceX and 24% of Tesla.
On the stand in a legal case in 2019, Musk said that he is actually a little short on cash. He said that 99 percent of his personal wealth comes from shares in Tesla and SpaceX. Besides that, the lawsuit said that Musk’s base salary at Tesla is $56,380, which is a lot. In most years, he doesn’t accept the salary. At the time of the lawsuit, Musk owed $500 million in debt to Morgan Stanley and Goldman Sachs. Most of that money was owed to them. At least $60 million of his debt from Morgan Stanley was related to his home mortgage. Since then, he has sold most of his homes and paid off this debt.
He is said to have used all of his money from previous business sales to start SpaceX.
A Plan by Tesla to Compensate People:
During a meeting in January 2018, the Tesla board announced that they were going to pay CEO Elon Musk $100 billion in the long run. Plans said that Musk could get up to $100 billion worth of stocks over a decade in 12 separate payments. People who work for Tesla get the first set of options when the company has a value of $100 billion or more (roughly double the value when the plan was announced). On top of that, Elon got another tranche every time the company’s market value grew by $50 billion from then on. To get money, he had to finish all 12 stages. All of the tranches of the plan had been opened by October 2021, three years after it was set up. Tesla’s market value had reached more than $1 trillion for the first time in October 2021.
A person’s life:
Talulah Riley, an actress, has been married to Elon three times. They have been together twice. The two were married from 2000 to 2008. Justine Wilson, a Canadian author, was his wife at the time. They have five sons together. He has also been romantically linked to actress Amber Heard and a Canadian musician named Grimes, as well. In May 2020, Grimes and Elon had a son named X A-Xii.
Holdings in Real Estate:
Elon used to own a lot of real estate in California. He used to own a lot of lands there. When he moved to Hillsborough, a town in Northern California, he kept the 16,000 square-foot villa that he bought there 100 years ago. He still owns about 50 acres of land there. In 2017, he bought this house for $23.364 million.
During His Time Living in Southern California:
He had six homes in the Bel-Air neighborhood of LA. He bought a 20,000-square-foot house for $17 million in 2012. In 2015, he bought a 7,000-square-foot house for $20 million, and in 2016 he bought a 9,300-square-foot house for $24.25 million. In 2020, Elon shocked the world when he said that he was going to sell all of his worldly possessions. He started with his homes in LA and then everything else, and he kept his promise. He sold every house he promised to do so. In December 2020, he sold four homes at once to one person.
Elon Musk has a total worth of $290 billion, which is a lot. His wealth is one of the essential things on Earth right now. With Tesla, he owns a quarter of the company, and with SpaceX, he owns 43% of the company. When it comes to money, Musk isn’t very rich. He owes Morgan Stanley and Goldman Sachs an estimated $500 million, and he has to pay them back.