Elon Musk is an American Inventor, investor, entrepreneur, and business magnate with a net worth of $248.5 Billion. Elon Musk was born in 1971 in South Africa. His mother was a Canadian nationalist, and his father was from South Africa. He is best known for his inventions, and he has been part of many success stories: he is the CEO of Tesla Inc., founder, CEO, and CTO of SpaceX, and founder of Neuralink. He was also co-chairman of OpenAI.
Table of contents
Elon Musk’s success story starts in 2002 by selling his co-founded online application ‘PayPal’ to an online marketplace giant.
Elon Musk’s net worth has been a topic of significant interest in recent years. In 2021, he became the world’s richest person, driven by his ventures like Tesla and SpaceX. However, a dip in Tesla’s stock value in 2022 led to him losing the top spot. He reclaimed his top spot in May 2023 and became the wealthiest man in the world again.
According to the Forbes real-time billionaires list, Elon Musk is the wealthiest person in the world.
| Net Worth: | $248.5 Billion |
| Born: | June 28, 1971 |
| Age: | 52 |
| Birthplace | South Africa |
| Nationality | South African, Canadian, American |
| Source of Wealth: | Investor/ Entrepreneur |
| Last Updated: | November 2023 |
Early Life
Elon Musk was born in Pretoria, one of the three capital cities of South Africa, in 1971. He has two younger siblings, Tosca and Kimbal. His mother was a Canadian model, and his father was an engineer from South Africa. From an early age, he got into a great passion for computers. At 12, he learned about computer programming, developed a game ‘Blaster‘, and sold this game to a magazine called PC and Office Technology for $500.
Elon Musk received his early education from the University of Pretoria. At 17, he moved to Canada with his family and attended Queen’s University. He received his bachelor’s degree in economics and physics from the University of Pennsylvania. In 1965, he moved to California and attended Stanford University, but after some time, he dropped out of the university and started his own business.
Career
After dropping out of Stanford University, he began entrepreneurship and founded Zip2 with his brother. It was an online service that provided a licensed city online guide service to the newspaper publishing industry. Later, Elon and his brother sold this company to Compaq for $307 million. Elon got his share in the company in the form of $22 million. After that, he founded X.com, which intended to send and receive payments using E-mail.
Later, this company merged with Confinity and became a famous company called PayPal. In a short time, this company became famous and attained the top spot in online payment services. Then Elon Musk sold this company to eBay in stock for $1.5 Billion. He got $165 Million more in his pocket.
Elon Musk used all this money to find SpaceX and Solar City and invest in Tesla Motors. These companies start growing day by day, which is responsible for Elon Musk’s success and his sudden jump in net worth. All these companies operate with extraordinary aims. SpaceX aims to reduce the cost of human spaceflight by a factor of 10, and Tesla aims to accelerate the world’s transition to sustainable energy and end the use of fossil fuels in cars. By doing this, they intend to solve the automobile industry’s fossil fuels crisis by developing affordable and stylish electric vehicles. Solar City is the 2nd largest provider of solar power systems in the United States. All these companies play key roles in boosting Elon Musk’s net worth.
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Life Events
Some of the main life events in Elon Musk’s life are:
- Moved to Canada in 1988 for admission to Queen’s University
- Moved to California in 1995 to attend Stanford University
- Moved to Silicon Valley in 1995 after dropping out of university.
- Sells Zip2 to Compaq for $307 million in 1999
- Founds X.com, which later becomes PayPal after merger with Confinity in 1999
- Sells PayPal to eBay for $1.5 billion in 2002
- Got American nationality in 2002
- Founds SpaceX in 2002
- Becomes CEO of Tesla in 2008
- Delivery of first All-Electric Model S Tesla car in 2012
- Tesla car Model X Launched in 2015
- Tesla and SolarCity merger in 2016
- Tesla car Model 3 Arrives in 2017
- The SpaceX Falcon Heavy Rocket Launches in 2018
Personal life
Elon Musk is the father of seven children and has been married three times. He married Talulah Riley twice, and then the couple separated. He met his first wife, Justine Wilson, in Canada at Queen’s University. The pair got married in 2000. After marriage, the couple moved to Los Angeles. The pair had five children, including twins and triplets.
The couple divorced in 2008, and after the divorce, Elon started dating actress Talulah Riley. Talulah Riley and Elon married in 2010. After two years, the couple got divorced on a good note. Elon tweeted at Riley, “It was an amazing four years. I will love you forever. You will make someone very happy one day.”
Elon and Riley remarried in 2013. After three years of relationship, Riley filed for divorce in court and got divorced later in 2016.
In 2018, Page Six reported that Elon and Grimes had been quietly dating for a few weeks. In January 2020, Grimes confirmed she was expecting a baby with Musk, but in September 2021, Musk told Page Six that he and Grimes had broken up. Currenly, he is rumered to be date an Australian actress Natasha Bassett.
Conclusion
Elon Musk’s journey from South Africa to global success is about innovation and big ideas. He’s known for companies like Tesla and SpaceX, which changed cars and space travel. His net worth is huge at $248.5 Billion. As of November 2023, he’s the richest person worldwide, showing his big impact on technology and business.
FAQs
What is Elon Musk yearly income?
Elon Musk relies on stock-based compensation on the financial performance of the companies he’s associated with, primarily Tesla and SpaceX. His income varies depending on the performance of Tesla’s stock and the value of his compensation packages.
How much does Elon Musk make a month?
Elon Musk’s annual salary varies, and he often takes a symbolic salary of $1 per year for his role as CEO of Tesla and SpaceX. However, he earns a significant portion of his income through stock options and performance-based bonuses tied to the success of these companies.
Wthat is Elon Musk net worth 2023?
As of November 2023, Elon Musk net worth is $248.5 Billion.
What is Elon Musk’s IQ?
Elon Musk’s IQ is estimated to be around 155, indicating a high level of cognitive ability. However, it’s worth remembering that IQ scores provide a limited view of a person’s overall intelligence and skills. Musk’s remarkable accomplishments in various industries demonstrate his exceptional intellectual capacity and innovative thinking.