Elon Musk Net Worth And Biography

Tesla Inc. (TSLA) CEO Elon Musk is also the head of SpaceX, a private spaceflight firm. He has become a household name as an entrepreneur. In April 2022, Musk began discussions to buy out Twitter Inc. (TWTR), the company he co-founded with PayPal (PYPL). Musk was also an early investor in a number of other tech startups. Success and personality traits have led to parallels to Steve Jobs, Howard Hughes, and Henry Ford, all well-known American tycoons.

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As of June 2022, he had a net worth of $220 billion, making him the world’s richest person. 1 In 2021, Musk became the first person to overtake Jeff Bezos, the founder of Amazon.com Inc. (AMZN). A brief glance at the life of a businessman who has reached the top of his field is in order.

Elon Musk Net Worth

Early Life and Education

Pretoria-born Elon Musk was the eldest of three children, and he is now the CEO of Tesla Motors. An engineer from South Africa, and a model and nutritionist from Canada, were the parents of his son. 34 Musk spent the majority of the 1980s living with his father following his mother’s divorce. “A terrible human being… practically every evil thing you can possibly think of, he has done,” he would later call his father. “I was brought up in a squalid environment. Growing up, I had a great deal of hardship. Musk later stated that he was concerned about his children’s lack of adversity.

Bullied as a Child

In addition to attending Waterkloof House Preparatory School, where he started a year early, Musk graduated from Pretoria Boys High School, where he was a member of the basketball team. He had few friends in those countries because he was a self-proclaimed bookworm. I was lured out of hiding by one of my closest (crap) friends. Musk added, “And that (expletive) hurt.” Suddenly, they determined that I was the target of their wrath, and they were going to pursue me relentlessly.

Because of this, growing up was a challenge. No respite might be found for a few years at a time. The gangs at school tried to beat the (expletive) out of me, and when I got home, it was just as bad.”

Personal Life Of Elon Musk

In 2000, Elon Musk married Canadian author Justine Wilson whom he met at Queen’s University, Ontario. The couple had 6 sons. The first son died due to SIDS (Sudden Infant Death Syndrome) at the age of 10 weeks. The couple had twins sons via Vitro fertilization in 2004 and triplets via Vitro fertilization in 2006. The couple got separated in 2008 and both of them share the custody of their 5 sons. In 2008, Elon Musk started dating English actress Talulah Riley and the couple married in 2010.

In 2012, Elon Musk parted from Talulah Riley and took to Twitter to announce this. In 2013, the couple re-married and in December 2014, Musk filed for a second divorce from Riley, but was withdrawn. In March 2016, Riley filed for divorce from Musk and the duo got separated in late 2016. In 2016, Elon Musk started dating American actress Amber Heard but the duo parted ways due to their busy schedules.

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Early Accomplishments

Musk turned to technology as a form of escape. At the age of ten, he learned to program on a Commodore VIC-20, a low-cost home computer from the 1980s. When Musk was ready, he created Blastar, a retro-styled video game in the vein of Space Invaders. A PC magazine bought the game’s BASIC code from him for $500. Musk and his brother discussed the possibility of opening a video game arcade near their elementary school when they were kids. However, this was rejected by their parents.

Musk’s College Years

Musk moved to Canada when he was just 17 years old. Through his mother, he would eventually become a citizen of Canada. Musk attended Queen’s University in Kingston, Ontario, after moving to Canada. While there, he had the opportunity to meet Justine Wilson, an up-and-coming author. Before divorcing in 2008, they married and had five children together, including twins and triplets.

Entering the U.S.

After two years at Queen’s University, Musk transferred to Penn. He took on two majors, but he didn’t spend all of his time at the university working. He acquired a 10-bedroom fraternity home with a friend and turned it into an impromptu nightclub. Musk earned a bachelor’s degree in physics from the Wharton School, as well as a bachelor’s degree in economics from the University of Pennsylvania. Foreshadowing Musk’s career, but it was physics that had the greatest impact. Later, he would say, “Physics provides a good framework for thinking.” “Reduce everything to its simplest form, and then build from there.”

Notable Accomplishments

Elon Musk left his native South Africa at the age of 24 to study physics at Stanford University. However, with the explosion of the Internet and the growth of Silicon Valley, Musk had aspirations for his own business. In two days, he dropped out of the Ph.D. program.

X.com

Kimbal Musk, the younger brother of Elon Musk, helped him start Zip2, a web software company that would assist newspapers to create online city guides. Compaq Computer Corp. paid $341 million for Zip2 in 1999. Before the word “fintech” was widely used, Musk utilized the money he received from the Zip2 buyout to launch X.com. As a result of a merger between X.com and the money transfer company Confinity, PayPal was born. Before eBay (EBAY) bought PayPal for $1.5 billion, PayPal CEO Peter Thiel dismissed Musk, but Musk still profited from the buyout through his 11.7 percent share in PayPal.

Musk indicated in a 2018 interview that PayPal’s “after-tax profits” totaled $180 million. “There was a total of $200 million invested in the three companies: SpaceX, Tesla, and SolarCity. I also had to borrow rent money.” With the X.com domain name’s sentimental importance in mind, Musk bought it back from PayPal in 2017.

Tesla

Initially, he invested $6.3 million in the electric car project, which was then known as Tesla Motors, and joined the team of investors and employees, including Martin Eberhard, to run the company. On the heels of a series of disagreements, Eberhard was fired and an interim CEO was brought in until Musk took over as CEO and product architect. One of Tesla’s most well-known brands is now the world’s most valuable automaker. With the acquisition of SolarCity, Tesla now has a strong foothold in the solar energy sector as well.24 Rechargeable solar batteries are now manufactured by the firm. There is a Powerwall and a Powerpack, both of which can be used for backup power and off-the-grid applications.

SpaceX

Space Exploration Technologies Corporation, better known as SpaceX, was founded with most of the money from Musk’s PayPal shareholding. In 2002, SpaceX was founded by Musk with a $100 million investment. SpaceX has won many high-profile contracts with NASA and the U.S. Air Force to design space launch rockets under Musk’s leadership. Elon Musk has stated that he and NASA want to deploy a human to Mars in 2025.

Twitter

In April 2022, Musk revealed that he had a 9.2 percent ownership in the company. Responding with an offer of a position on the Twitter Board of Directors, Musk agreed to decline it only days later. In a “bear embrace” letter, Musk proposed to buy Twitter for $54.20 per share. However, after Musk reported $46.5 billion in committed finance for the purchase in a securities filing, the board of Twitter accepted Musk’s bid notwithstanding the poison pill clause adopted by the board.

Personal Eccentricities

On September 7, 2018, during a podcast interview, Tesla CEO Elon Musk smoked marijuana. Just a month prior, Musk tweeted that he was considering taking Tesla private and had secured the necessary financing. As part of a settlement with the SEC, Musk paid a $20 million fine and agreed to allow Tesla’s lawyers to review any tweets containing important corporate information before they are posted, resulting in the SEC agreeing to the same penalty for Tesla.

In March of 2022, Musk filed a motion in court to overturn the consent order that resulted from the lawsuit. The SEC authorities in this case were referred to as “bastards” by Elon Musk in a live TED Talk in April 2022. Admitted to having Asperger’s condition on Saturday Night Live on May 8, 2021, during the episode that aired on May 8. “In fact, I’m the first-ever host of Saturday Night Live with Asperger’s syndrome. As a matter of fact, he was the first to admit it “he stated. What are the symptoms of the neurodevelopmental disorder? On the subject of humor, “I don’t always have much tone or variance in how I speak,” Musk said.

Elon Musk’s Net Worth

Elon Musk, a business mogul and investor, is the wealthiest person on the planet. Musk has made the seemingly impossible a reality by amassing a fortune in the billions of dollars and by acquiring innovative, industry-changing enterprises. The CEO of Tesla and SpaceX topped the 2020 Bloomberg Billionaires Index with a net worth of USD 223 billion, surpassing the fortunes of such legendary businesspeople as Bill Gates, Jeff Bezos, and Warren Buffett.

As of June 28th, Musk is worth USD 234 billion, according to Forbes. In contrast, his fortune peaked in November 2021 at USD 340 billion. Curious about  Elon Musk’s background and the businesses he has funded in the past? To learn more, keep reading.

Early on, Musk had a strong interest in philosophy, science fiction, and fantasy novels, which are mirrored in his idealism and desire for human progress—and in his corporate career. Many of his projects focus on areas he believes are critical to the future of humanity, including the use of renewable energy sources, space exploration, and the Internet. With PayPal, Tesla Motors, SolarCity, and SpaceX—all game-changers in their own right—Musk has defied his doubters and made the most money anyone has ever made.

Frequently Asked Questions

Is Elon Musk Married?

For the third time in his life, Talulah Riley divorced Elon Musk. The Canadian singer and songwriter Claire Elise Boucher, better known as Grimes, with whom he had a son in 2020 and a daughter in 2022, was his girlfriend from 2018 to 2022. They’re still the closest of pals. From his first marriage to Justine Musk, he has five sons.

How Rich Is Elon Musk?

As of June 2022, Elon Musk’s projected net worth was $220 billion, making him the world’s richest person.

Was Elon Musk Born Rich?

He was born into a middle-class family, not an upper-class one. When he established X.com in 1995, he reportedly owed more than $100,000 in student loans and couldn’t afford his rent.

What Does Tesla CEO Elon Musk Do?

On Tesla’s official website, Elon Musk is identified as the company’s co-founder and CEO. According to Tesla’s 2021 SEC filing, Musk has been given the additional title of “Technoking of Tesla.”

What Companies Does Elon Musk Own?

Tesla, SpaceX, The Boring Company, Neuralink, and Twitter all have a big investment in Elon Musk.