What is Elon Musk’s net worth?
| Net Worth: | $198 Billion |
|---|---|
| Age: | 51 |
| Born: | June 28, 1971 |
| Gender: | Male |
| Height: | 1.88 m (6 ft 2 in) |
| Country of Origin: | South Africa |
| Source of Wealth: | Entrepreneur/Investor |
| Last Updated: | August 2, 2022 |
Elon Musk is one of today’s most successful entrepreneurs, with a net worth that currently stands at over $20 billion. Born in South Africa, Elon came from humble beginnings and worked hard throughout his life to become one of the world’s leading business magnates. He founded several successful companies, including Tesla Motors, SpaceX, and PayPal.
Elon is also known for his visionary approach to technology and innovation, and for his dedication to finding solutions to some of society’s biggest challenges, such as climate change and sustainable energy. Whether you’re an entrepreneur looking to follow Elon’s lead or simply an admirer of his work, it’s hard not to be inspired by this remarkable individual.
Early life
Elon Musk was born in South Africa in 1971. He grew up in a low-income family, and showed an early interest in technology and entrepreneurship. Elon attended top universities across the globe, including the University of Pennsylvania and Stanford University, where he received degrees in economics and physics.
Achieving Success
After graduating from college, Elon began his career as an entrepreneur. He founded several successful companies, including X.com (later rebranded as PayPal), Tesla Motors, and SpaceX. Elon also made a name for himself by investing in other promising startups through his venture capital firm, the Elon Musk Foundation. Over the years, Elon has proven himself to be a visionary leader who is not afraid to take risks
Career
Alvin and his brother Kimble co-founded Zip2 after Alvin left Stanford University to pursue entrepreneurship.
A web software business called Zip2 created and sold an online “city guide” for the newspaper publishing sector. The business received contracts from publications including the New York Times and the Chicago Tribune before being eventually sold to Compaq for $307 million.
Musk started the email payments business X.com after selling Zip2 for $22 million. After X.com and Confinity amalgamated, it eventually evolved into the infamous PayPal.
eBay paid $1.5 billion in stock to acquire PayPal, which had grown to be the largest online payment processor. Musk was now worth more than $165 million.
Around this time, Elon Musk started to follow his passion for promoting humanity by starting Solar City, investing in Tesla, and SpaceX.
Highlights
Here are some of the best highlights of Elon Musk’s career:
- Moved to Silicon Valley (1995)
- Sells Zip2 to Compaq for $307 million (1999)
- Creates X.com, which later becomes PayPal (1999)
- eBay acquires PayPal for $1.5 billion (2002)
- Becomes an American citizen (2002)
- Founds SpaceX9 (2002)
- Becomes CEO of Tesla (2008)
- Tesla Begin Deliveries of the All-Electric Model S (2012)
- The Model X Launch (2015)
- Tesla Merged with SolarCity (2016)
- The Model 3 Arrives (2017)
- The SpaceX Falcon Heavy Rocket Launches (2018)
Summary
Elon Musk is an adventurous person. Even after receiving a sizable settlement from PayPal, he invested almost all of that money in companies like SpaceX and Tesla to realise his ambition.
Elon Musk’s net worth is believed to be $198 billion, and given the focus of his present businesses on the future, that sum is only expected to rise.