Who is Elon Musk?
Elon Musk is a South African-born American business magnate, investor, engineer, and inventor. Musk is the CEO and co-founder of SpaceX, CEO and product architect of Tesla, Inc., and chairman of Neuralink. He is also a co-founder and former chairman of SolarCity, co-founder of Zip2, and founder of The Boring Company.
Elon Musk’s net worth is over $198 billion, according to the Forbes real-time billionaires index, making him one of the wealthiest people and the second-richest in the world. Elon Musk’s net worth in rupees is Rs. 2,10,000 crore (approx. conversion).
Currently, the billionaire is in the news for all the wrong reasons. Ahead of the launch of his biography book, many details about him have spilt. Reportedly, Musk caused significant damage to the offensive front of Ukraine in the ongoing Russo-Ukranian war. As Ukrainian troops, who were largely dependent on Musk's Starlink satellite communication, were on the verge of attacking Russian naval warships, Musk abruptly cut the submarines' satellite link, throwing off the entire operation.
This is not the only reason Musk is in the news. The eccentric billionaire is also involved in a custody fight with his ex-wife, Grimes. Apparently, Musk and Grimes have three, not two, children together. Now, Musk has three children named X Æ A-12, Exa Dark Sideræl Musk, and Techno Mechanicus. This detail about his private life was revealed by the author of his biography book, Walter Isaacson. Isaacson has also written the biography of Apple founder, Steve Jobs.
For more information, read Elon Musk’s Biography.
| Elon Musk | |
| Net Worth: | $198 Billion |
| Salary: | $2400 Million (Approx.) |
| Monthly Income: | $200 Million (Approx.) |
| Date of Birth: | June 28, 1971 |
| Age: | 52 Yrs |
| Height: | 1.80 M (5' 11”) |
| Nationality: | American, Canadian and South African |
Elon Musk's Early Career
Musk's career began in 1995 when he and his brother, Kimbal, founded Zip2, a company that provided online content publishing software for news organizations. In 1999, the company was acquired by Compaq for nearly $300 million. After the sale of Zip2, Musk co-founded X.com, an online payment company, which later became PayPal, and was bought by eBay for $1.5 billion in 2002.
Musk's foray into the automotive industry began in 2004 when he became a majority shareholder in Tesla Motors, a company that designs and manufactures electric vehicles, energy storage systems, and solar panel manufacturing. Under Musk's leadership, Tesla has become a leader in the electric vehicle market and has released several successful models, including the Tesla Roadster, Model S, Model X, and Model 3.
In 2006, Musk co-founded SolarCity, a company that provides solar panel installation and energy management services. In 2016, SolarCity was acquired by Tesla, Inc. for $2.6 billion.
Musk is also the CEO and co-founder of SpaceX, a company that designs and manufactures advanced rockets and spacecraft. SpaceX has made headlines for its successful launches, including the first privately funded liquid-fueled rocket to reach the International Space Station, and for its plans to colonize Mars. In addition to his work in the automotive and aerospace industries, Musk is also the chairman of Neuralink, a company that develops implantable brain–machine interfaces.
Elon Musk Net Worth 2024
Musk's net worth has grown significantly over the years due to the success of his companies and his ownership stakes in them. As of 2024, Elon Musk's net worth today is estimated to be over Rs. 2 lakh crores INR.
In other words, Elon Musk’s net worth in billion is around $198 billion.
Elon Musk's Salary and Earning Assets
Musk is one of the prominent shareholders of PayPal. A sizeable portion of Elon Musk’s net worth comes from the 13.4% of Tesla shares that he owns. In 2002 he launched SpaceX, of which between stock and options, he owns around 25%. Additionally, he owns the micro-blogging platform Twitter. Musk holds an estimated 73% of the company, in his passive portfolio.
Elon Musk’s net worth today has made him the second-richest person in the world. The richest person in the world is Jeff Bezos, the CEO of Amazon.
Elon Musk Net Worth Current Updates
- Musk's net worth peaked in November 2021 at $340 billion.
- Elon Musk's net worth today is estimated to be $173 billion, a staggering loss of over $200 billion.
- According to Bloomberg, Musk is the first billionaire to ever lose $200 billion in worth.
- Musk's biggest source of income is Tesla (TSLA), whose shares fell 65% in 2022. Tesla's stock price and Musk's personal riches haven't benefited from his $44 billion acquisition of Twitter.
- Since his interest in Twitter was made public in April, Musk, Tesla's largest shareholder, has sold shares worth $23 billion.
- Musk was once the richest person in the world with a staggering net worth, almost untouchable. However, at the end of 2022, his title as the "Richest Man on the Planet" was taken over by Bernard Arnault, the Chairman and CEO of LVMH. Since then Musk has remained at the second position on the richest billionaires list.
- Recently, the eccentric billionaire's automobile company, Tesla's stock price increased by 4.6% to $235 on 8th June, marking its 10th consecutive day of gains, as reported by Forbes.
- This gain helped Elon Musk regain his position as the richest person in the world. According to Forbes, Musk's net worth is now $220.2 billion, which is $4.2 billion more than Bernard Arnault's.
- However, after the market close, Arnault came out at the top, pushing Musk to the second spot, again.
- On 20 July, Musk's wealth declined by $20.3 billion, as Tesla's shares hit a slump.
- In February 2024, Jeff Bezos dethroned Elon Musk as the richest person in the world.
Elon Musk Houses and Real Estate Properties
The eccentric billionaire publicly pledged to "possess no house" and currently resides in a modest property worth $50,000 in Boca Chica, Texas, despite having unlimited access to some of the nicest villas and mansions in the world.
I am selling almost all physical possessions. Will own no house. — Elon Musk (@elonmusk) May 1, 2020
What Cars Does Elon Musk Own?
Billionaire Elon Musk owns many luxury and vintage cars. Below is the list of all the cars he possesses.
| Elon Musk Car Collection | Price |
| 1978 BMW 320i | $1,400 |
| 1967 Jaguar E-Type | $40,000 |
| 1997 McLaren F1 | $815,000 |
| 2006 Hamann BMW M5 | $103,500 |
| 2008 Tesla Roadster | $98,950 |
| 2010 Audi Q7 | $48,000 |
| 1976 Lotus Esprit “Wet Nellie” | $920,000 |
| 2012 Porsche 911 Turbo | $154710 |
| 1920 Ford Model T | $850 |
| Tesla Model X | $94,990 |
| Tesla Model 3 Performance | $58,990 |
| 2019 Tesla Model S Performance | $20,000 |
| Tesla Cybertruck | $69,900 |
Does Elon Musk have any or do charities?
Elon Musk presides over The Musk Foundation, whose stated goals are to promote research, development, and lobbying, as well as to aid in scientific and engineering education initiatives. Nearly half of the foundation's $25 million in direct donations to nonprofits from 2002 to 2018 went to Musk's OpenAI, which was a non-profit at the time. The foundation has donated more than 350 times since 2002.
In 2021, the billionaire gave $55 million to the St Jude Children's Research Hospital in Memphis at that time, and then $54 million to the X Award Foundation.
Some Interesting Facts and Quotes of Elon Musk
Interesting facts:
- At the age of 12, Elon Musk made and sold a video game to a magazine. PC and Office Technology magazine purchased the space combat game "Blastar" for $500.
- Musk also had a job with the video game start-up Rocket Science.
- Elon Musk owns Wet Nellie, a James Bond custom automobile. The Wet Nellie, seen in the film The Spy Who Loved Me, is a specially constructed Lotus Espirit submersible automobile.
- The billionaire has been featured in the animated sitcom “The Simpsons” in the episode "The Musk Who Fell to Earth."
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."
- "Persistence is very important. You should not give up unless you are forced to give up."
- "The first step is to establish that something is possible; then probability will occur."
- “I think it is possible for ordinary people to choose to be extraordinary.”
Musk has faced controversy and criticism over the years, including for his management style, public statements, and his involvement in various lawsuits. However, his innovative ideas and ambitious plans for the future have made him a controversial yet influential figure, not only in the tech industry but in the world.
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