Have you ever searched through Google about Elon Musk net worth? I assume no, you have not done this before. But I am sure that you will wonder after knowing the answer to this query. No doubt Musk is a multi-billionaire businessman, owner of Tesla, and SpaceX, a social media influencer and a big king of cryptocurrencies. As of Jan 2024, Elon Musk net worth is $216 billion in real-time and the latest resources. Elon Musk is one of the biggest people who falls in the Top 10 richest men in the world. Let’s discuss, how Elon has built his fortune and how he becomes a multi-billionaire entrepreneur.
Elon Reeve Musk was born in Pretoria which is a big city in South Africa on June 28, 1971. His father Errol Musk is a famous person who belonged to a well-settled family in South Africa. He was a pilot, mechanical engineer, sailor and property consultant. He has partial ownership of the emerald mine which is located near Tanganyika Lake, Zambia. Elon’s mother is Maye Musk who was a model born in Canada but raised in South Africa.
At the age of 10, he has a big interest in technology and video games. He learned programming for 2 years and created a basic video game Blaster to PC which sold for $500. Musk completed his early education at Waterkloof and Bryanston schools. After higher education, he attended Pretoria Boys High School for a graduate degree.
Then he attended the University of Pretoria and along with taking classes, he applied for a Canadian Visa with the reference of his Canadian-born mother. Finally, he arrived in Canada in 1989 and attended Queens University in Ontario. After a few years, he was transferred to the University of Pennsylvania to complete a Bachelor of Arts in Physics and to complete a Bachelor of Science in Economics from Wharton School.
Elon Musk and SpaceX
Musk has an intelligent brain so he has some attention to computers and technology. He started working with Mars Society a nonprofit organization and performed a collection of funds to have some plantations on Mars. He visited Russia to purchase refurbished ICBMs that will help send plants into space. The team came back with empty hands and had another tour to Russia for the same purpose. They offered $8 million for one rocket but Musk rejected this offer.
In May 2002, he founded a company with $100 million to make affordable rockets. He was awarded as CEO and Chief Engineer of SpaceX. Falcon 1 was the first rocket they sent in 2006 but it failed to reach Earth’s orbit. After 2 more failed attempts, Falcon 1 was successfully launched into earth orbit in 2008.
After, NASA gave $1.6 billion after having a contract for Falcon 9 and Dragon spacecraft to replace the space shuttle at the international space station in 2011. Later times, SpaceX started working on 3 future projects including Starlink, Starship and Tesla Roadster. Starlink was launched to have satellite internet access. During the Ukraine and Russian wars, Musk sends Starlink systems toward Ukraine to provide internet communication and connection.
Elon Musk and Tesla
Tesla Motors was founded and financed by Marc Tarpenning and Martin Eberhard in 2003. In February 2004, Elon invested $6.5 million and got big shares in Tesla, Inc. He was selected as the chairman of Tesla’s board of directors. At that time, the Tesla Roadster was in process and Musk oversaw it and deeply interacted with the business.
In 2009, after the ouster of Eberhard, Musk was settled as co-founder of Tesla from Martin. However, Tesla sold 2500 electric cars of the Roadster model in 2008. The Model 3 car has been one of the most popular products and the best-selling electric car. This model was sold for 1 million units till 2021. The company continues its services and constructs 5 factories for lithium-ion and electric vehicle manufacturing.
These factories are known as Gigafactory and are located in Nevada, New York, Texas, China and Germany. After its success, Tesla was the 6th company in the history of the U.S. which reached a market capitalization of $1 trillion in late 2021. Elon Musk announced to sale of 10% of Tesla shares on Twitter and $16.4 billion. This has had a massive impact on Elon Musk net worth.
Elon Musk and Business
Musk is one of the best businessmen who has intelligent ideas in every field of life. He published some tweets about cryptocurrencies. Everyone has seen big fluctuations, especially Musk’s tweet about Bitcoin and Dogecoin. This has a big impact on Elon Musk net worth. In 2021, Tesla announced that it has bought $1.5 billion of Bitcoins and they would accept BTC as regular payments from customers. But after some criticism, they announced that they are not accepting BTC to buy Tesla cars anymore.
- X.com: Elon was co-founder of X.com which was a financial payment proceeding company. Later times, Confinity bought X.com which is also the founder of PayPal. In 2012, eBay acquired PayPal and Musk has more than 11% of the shares. He received $175 million as a reward for his 11.75% shares and get increased Elon Musk net worth.
- ZIP2: It was a software company that raised an internet city guide. It was related to newspapers including maps, yellow pages and other info. In February 1999, Compaq acquired ZIP2 for $307 million and Musk owned $22 million for his 7% shares and got increased his wealth.
- Neuralink: Musk invested $100 million into this company in 2016. They aim to integrate the human brain with AI (Artificial Intelligence).
- TeslaEnergy: SolarCity is a big company in the US that provides solar-based power systems. After the company became a popular and best solar provider. Tesla acquired it for $2 billion and it was merged with Tesla Energy.
- The Boring Company: Musk started this company in 2017 to construct tunnels. The company was rewarded with multiple contracts for the construction of tunnels including the Las Vegas Convention Centre and Fort Lauderdale tunnels.
Elon Musk Net Worth 2024
No doubt, he is one of the top 10 richest men worldwide. He builds his fortune by using his smart techniques. He earned from multiple streams including Tesla, SpaceX, Cryptocurrency, ZIP2, X.Com, Tesla Energy, The Boring Company and Neuralink. He earned $175 million in one day when eBay acquired PayPal company. In 2020, Elon Musk net worth was just $27 billion but at the end of 2021, he had a $150 billion net worth.
He beat Mark Zuckerberg, Bill Gates, and Jeff Bezos in net worth competition before 2021. He was the richest person in the world on September 27, 2021, having $200 billion in net worth. As of Jan 2024, Elon Musk net worth is $216 billion but in November 2021, Elon Musk has a net worth of over $300 billion and is the first person in the world with over $3b net worth at that time.
- Enrich with Technology: Similar to Jack Dorsey, Elon has a smart brain that is enriched with technology. He used his fortune in multi-billion projects and earned a lot of wealth. So keep looking to the future and relate yourself to future technologies to get success.
- Invest in the Right Business: Elon has invested his wealth in 100% accurate businesses. If we take a look at his game development which he sold for just $500. He later played smart techniques and invested in the right companies to build shares and Elon Musk net worth too.
- Right Decision at Right Time: If you have been inspired by Elon, just note he makes the right decisions at the right time. This has had an excellent impact on his life. He is now the richest person in the world and a top-class entrepreneur.