Elon Musk's Net Worth as of December 2024 is $248 Billion
Quick Facts of Elon Musk
Net Worth | $248 Billion |
Salary | Not Known |
Height | 6 ft 2 in |
Date of Birth | 28 June, 1971 |
Profession | Entrepreneurs |
Social Media |
Elon Musk is a South African-born entrepreneur who is a businessman, inventor, and celebrity.
As important as the business side of his empire is, this famous person has done a lot to help the success of his different projects, especially his Tesla Motors brand of electric cars.
Musk is a firm believer in the idea that entrepreneurs can solve problems and make the world a better place. In December 2016, he was the 21st most powerful person in the world, according to Forbes.
Elon has given more than $11 million through his Musk Foundation to many research projects and places that have been hit by natural disasters.
Why Elon Musk rejected Twitter?
Twitter failed to provide enough data and information on number of spam and fake accounts. Elon said that he needs some trial period in order to sign the agreement.
Elon Musk’s Bio, Age, Education
The extrovert entrepreneur was born Elon Reeve Musk, on June 28, 1971, in Pretoria, South Africa. Musk loved reading books and used to spend a lot of time on it. When he was ten, he became interested in computer programming and wrote and sold his first code for a BASIC-based video game to a computing magazine for about $500.
Educational Background
Musk was bullied a lot as a kid, but he would finish his high school education in the country. Elon moved to Canada the month before he turned 18. His Canadian citizenship came from his mother, who was born in Canada.
Musk graduated with a Bachelor of Science degree in Physics and Economics, from the University of Pennsylvania’s College of Arts and Science, and its Wharton School of Business.
He moved to California to do a Ph.D. in applied physics and materials science but eventually left Stanford University two days later.
What did Elon Musk say about Inflation?
Elon Musk has tweeted saying that inflation might be trending down and also added another tweet saying that More Tesla commodity prices are trending down than up.
Musk who dropped out at the highest level of education (while doing his Ph.D.) in 1995, moved on to pursue his entrepreneurial career. Since then, his story has been filled with one entrepreneurial success after another.
Elon’s dreams have seen him contribute to many industries. These include online payment systems, electric cars, space exploration, unconventional construction, transportation systems, artificial intelligence, and vanity toys.
Elon Musk’s Height & Weight
- Height: 6 feet 1.5 inches
- Weight: 82
- Hari Color: Light Brown
- Eye Color: Hazel
Who is the owner of SpaceX?
Elon Musk owns SpaceX which is one the most valuable U.S, startups. The company’s valuation is up to $125 billion in the secondary share market.
Elon Musk’s early career: Zip2, and PayPal
In 1995, Musk and his brother, Kimbal raised money from investors to start their software company called, Zip2. They developed an online city guide for various publishing powerhouses like The New York Times and the Chicago Tribune.
The company was acquired in 1999 by Compaq for a total of $341 million in cash and stock options. Musk who owned a 7 percent stake in the company received $22 million from the sale.
In March 1999, he took $10 million of the money he got from the Zip2 sale and launched a financial service and email payment company, X.com.
The next year, he merged with Confinity, and the new entity focused on Confinity’s money transfer service, PayPal. In 2001, the company changed its name to PayPal.
The company was sold for $1.5 billion in 2002 to eBay. Musk received $165 million for his 11.7 percent stake in the company.
Which is the first company of Elon Musk?
Elon Musk firstly found a company named Zip2 in 1995 that provided and licensed online city guide software to newspapers.
Space exploration efforts and Tesla, Inc.
In 2001, Musk again dreamt up a project he called Mars Oasis, in an attempt to revive the public interest in space exploration. The project never saw the light of day due to the difficulties he encountered in acquiring refurbished intercontinental ballistic missiles in Russia.
This led to him deciding to establish his own company to build affordable missiles he needed for his Mars exploration. Again he launched his space exploration technologies company, Space X, in May 2002, in California.
In the years following Space X’s achievements within its industry brought them contracts from the likes of NASA in 2006, and another $1.6 billion commercial resupply services program in 2008.
In February 2018, it became the first private company ever to launch an object into orbit around the sun. As of November 2017, the company had an estimated 7000 people on its payroll.
In February 2004, Elon funded a company called Tesla Motors. He joined the board of directors of the company and eventually took over as CEO and product architect in the 2008’s financial crisis.
Renamed Tesla, Inc., the company primarily focuses on the manufacture of electric vehicles such as their Tesla Roadster, Model X, and Model S vehicles.
They also build electronic powertrain systems for companies like Toyota and Mercedes’ parent company, Daimler.
In 2019, Tesla revealed their Cybertruck, which is an electric pickup truck that launched in the market by the end of the year 2021 and production will start in early 2023.
Tesla exploded under the visionary leadership of Elon Musk, who was taking home an annual salary of $37, 000. Tesla moved into energy storage and the manufacturing of solar-powered systems with the purchase of SolarCity, a company co-founded by two of Musk’s cousins in 2006. As of December 2017, Tesla, Inc. provides employment for over 37,000 employees.
Is Elon Musk inventing a smartphone?
Elon Musk is inventing a smartphone in order to revolutionize the world, which is called the new Pi Phone.
Other endeavors
Since Space X and Tesla, Elon has long expanded his entrepreneurial interests, going into transportation and artificial intelligence.
He founded Hyperloop on August 12, 2013, and The Boring Company on December 17, 2016. Both companies are related in their ultimate objective, which is to make transportation systems more affordable, efficient, and reliable.
While Hyperloop focuses on building a high-speed transportation system with next-gen technology, The Boring Company – which was inspired when Musk was stuck in traffic – is essentially an infrastructure and construction company that aims at creating a tunnel network throughout the country to reduce traffic above ground.
Elon Musk’s two artificial intelligence startups are Neuralink and Open AI. According to the billionaire entrepreneur, these two establishments are complementary.
Neuralink is a neurotechnology company that aims at integrating artificial intelligence into the human brain. According to Musk, this will intensify all the brain’s functions to help it keep up in an age of rapidly advancing intelligence.
Open AI, on the other hand, is non-profit. Its objective is to constantly explore the dangers of artificial intelligence and design safety measures to ensure that the advancement of AI doesn’t eventually become counter-productive to our humanity.
In 2018, Musk took an unconventional turn in the expansion of his business empire. He announced that he would be starting a new comedic media venture called Thud.
The billionaire is politically active and has often voiced his opinions on different political issues. In December 2016, he came on board as a member of two of then-President-elect Donald Trump’s presidential advisory committees. However, after just seven months he resigned.
Elon Musk’s Family: Mother, Father, Brother, Sister, Wife, Girlfriend, and Children
Elon migrated from South Africa to Canada and then later, he finally moved to the USA. His father, Errol Musk, was a pilot, sailor, and electromechanical engineer.
His mother, Maye Musk, was a dietician and a model, who was originally from Canada. Musk has two siblings, Kimbal Musk and Tosca Musk. Kimbal has worked with Elon several times.
He is also a member of the board of one of Elon’s companies. Kimbal owns a chain of restaurants. Tosca, meanwhile, is a filmmaker and producer. She has released a few movies under her company, Musk Entertainment.
Who is Elon Muk’s Wife?
Musk met Justine Wilson, a Canadian author at the Queen’s University campus in Ontario where they were both students. The pair started dating and married in 2000.
Justine and Musk together welcomed five sons – twins in 2004, and triplets in 2006. All of them were born through in vitro fertilization. They had lost their first child before these five children came along. The couple divorced in 2008 and share custody of the kids.
Musk started seeing Talulah Riley, an English actress in 2008. They wedded in 2010 and divorced in early 2012. They got back together in July 2013 and divorced for a second time in late 2016.
Next came American actress Amber Heard in 2016, however, their heavy career schedules meant they had to split after one year.
In May 2018, Elon announced that he was in a relationship with Canadian singer Grimes. They started dating in 2018 and they are blessed with a son named “X Æ A-Xii” whom they call “X”. X was was born on May 4, 2020.
Elon Musk’s Net Worth
Elon has a net worth of $248 billion.
Did Elon Musk acquire Twitter?
Recently, in April 2020, Elon Musk acquired Twitter and became the company’s largest shareholder, and then offered to buy it. He secured the final deal on Monday for $54.20, valuing the firm at roughly $44 million.
Elon Musk’s Some Quotes
- “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.”
- “There have to be reasons that you get up in the morning and you want to live. Why do you want to live? What’s the point? What inspires you? What do you love about the future? If the future does not include being out there among the stars and being a multi-planet species, I find that incredibly depressing.“
- “Some people don’t like change, but you need to embrace change if the alternative is a disaster.”
- “That is no excuse. I am extremely disappointed. You need to figure out where your priorities are. We’re changing the world and changing history, and you either commit or you don’t.”
- “I would like to allocate more time to dating, though. I need to find a girlfriend. That’s why I need to carve out just a little more time. I think maybe even another five to 10 — how much time does a woman want a week? Maybe 10 hours? That’s kind of the minimum? I don’t know.”
- “They got my best [expletive] friend to lure me out of hiding so they could beat me up. And that [expletive] hurt. For some reason, they decided that I was it, and they were going to go after me nonstop. That’s what made growing up difficult. For a number of years, there was no respite. You get chased around by gangs at school who tried to beat the [expletive] out of me, and then I’d come home, and it would just be awful there as well.”
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