Elon Musk Net Worth 2024

What is Elon Musk’s Net Worth?

Elon Musk is a South African-born Canadian-American businessman, inventor, and investor who has a net worth of $192 billion. Elon Musk is presently the second richest person in the world. In November 2019, when his net worth briefly topped $340 billion, Elon surpassed John D. Rockefeller to turn out to be the richest person in modern history. Elon was the richest individual on this planet just about uninterrupted from January 2021 via March 2024 when Jeff Bezos re-took the lead.

The overwhelming majority of Elon Musk’s net worth comes from his 13% fairness stake in Tesla, roughly 412 million shares. He additionally owns 304 million exercisable choices in Tesla. Combined, that equates to roughly 21% of the corporate. Elon has pledged 58% of his Tesla shares as collateral in opposition to $3.5 billion value of private loans, and in 2022, he bought $40 billion value of Tesla shares to fund his buy of Twitter.

Elon can be the co-founder of SpaceX and the Boring Company and is the chairman of SolarCity. Elon owns 43% of the privately-held SpaceX. SpaceX was valued at $180 billion at its final valuation spherical. As of its final valuation spherical, the Boring Company is reportedly value $5 billion.

In October 2022, Elon acquired Twitter for $44 billion. He owns roughly 79% of the corporate at an total valuation of $44 billion. Twitter’s personal valuation beneath his possession has nosedived, maybe to as little as $19 billion. As we acknowledged beforehand, he bought $40 billion value of Tesla shares in 2022, primarily to fund the Twitter buy.

Salary & 2018 Compensation Plan

Elon Musk doesn’t earn a wage as CEO of Tesla. In place of a wage, in 2018, Elon organized to obtain a extremely uncommon and probably very profitable bonus plan tied to the corporate’s market cap milestones. When the plan was cast, Tesla was value round $50 billion. In quite simple phrases, in response to the plan, Elon would obtain massive chunks of Tesla choices, equal to 1% of the corporate, each time the corporate elevated in market cap by $50 billion, and stayed there for a minimum of three months. The first chunk of choices have been granted as soon as Tesla hit a market cap of $100 billion. Elon obtained one other of the tranches each time the corporate elevated its market cap by $50 billion, as much as $600 billion. So, in different phrases, if Tesla’s market cap elevated to $600 billion, Elon would obtain choices equal to 12% of the corporate. He would have obtained zero compensation if he had not achieved any of the 12 tranches. Oh, and he had a 10-year time period restrict for the deal.

It took a yr for Tesla to cross the primary $100 billion degree. Two years later, in December 2020, Tesla’s market cap crossed the utmost $600 billion degree. FYI, one yr later, it topped out at $1.23 trillion. At that degree, Elon’s net worth hit $340 billion. That’s the purpose the place Elon’s net worth was briefly $340 billion. Tesla’s board confirmed that by hitting the $600 billion mark in beneath ten years, Elon was entitled to the complete advantage of his compensation plan. That meant he obtained round 300 million Tesla choices, value round $55 billion by January 2024. Unfortunately for Elon, that was not the top of the story.

Some shareholders weren’t glad about his compensation package deal. In a lawsuit, one shareholder alleged that the package deal was overly extreme and was granted by a board of administrators that Elon unfairly managed. On January 30, 2024, a Delaware decide AGREED with the shareholder and, with the strike of a gavel, primarily voided his complete compensation package deal. Elon can (and certain will) attraction, however ultimately, the board will probably need to provide you with a brand new compensation plan for his efficiency between 2018 and the top of 2023.

Early Life

Elon Musk was born in Pretoria, South Africa, on June 28, 1971. Musk purchased his first pc at ten and taught himself tips on how to program. When he was 12, he made his first software program sale—a recreation he created known as Blaster. At age 17, in 1989, he moved to Canada to attend Queen’s University however left in 1992 to review enterprise and physics on the University of Pennsylvania. Musk graduated with an undergraduate diploma in economics and continued on to earn a second bachelor’s diploma in physics, then pursued a PhD in power physics. However, he dropped out of Stanford University to turn out to be part of the web growth.

Success

Musk’s first firm, Zip2 Corporation, was an internet metropolis information. In 1999, a division of Compaq Computer purchased Zip2 for $307 million in money and $34 million in inventory choices. Also in 1999, Musk co-founded X.com, an internet monetary companies/funds firm. An X.com acquisition the next yr led to the creation of PayPal, as it’s recognized at present, and in 2002, PayPal was acquired by eBay for $1.5 billion in inventory.

Musk based his third firm, Space Exploration Technologies Corporation (SpaceX), in 2002 with the intention of constructing spacecraft for industrial house journey. By 2008, SpaceX was well-established, and NASA awarded the corporate the contract to deal with cargo transport for the International Space Station—with plans for astronaut transport sooner or later.

Next was Tesla Motors, an car firm devoted to producing reasonably priced, mass-market electrical vehicles. Tesla was based in 2003 by Martin Eberhard and Marc Tarpenning. Elon, together with Ian Wright and J.B. Straubel, have been the corporate’s first staff and retroactively named co-founders.

With a stake within the firm taken by Daimler and a strategic partnership with Toyota, Tesla Motors launched its preliminary public providing in June 2010, elevating $226 million. In 2012, Musk and SpaceX made historical past when the corporate launched its Falcon 9 rocket into house with an unmanned capsule. In 2013, he launched an idea for a brand new type of transportation known as the Hyperloop, supposed for journey at speeds better than 700 mph to commute between main cities. As against railroads, the Hyperloop would use tubes for transportation. Musk says the Hyperloop may take 7 to 10 years to be constructed, examined, and prepared to be used.

Personal Life

Elon has been married thrice, twice to the identical lady – actress Talulah Riley. He was married to Canadian writer Justine Wilson from 2000 to 2008. They share 5 sons. He has additionally been romantically concerned with actress Amber Heard and Canadian musician Grimes. In May 2020, Grimes and Elon welcomed a child boy named X Æ A-Xii. They welcomed a second baby through surrogate in December 2021.

At some level in late 2021, Elon ALSO welcomed a set of twins born to one in every of his Neuralink executives.

In complete, he has ten youngsters.

In July 2022, it was reported that Elon Musk had an affair in December 2021 with the spouse of Google co-founder Sergey Brin. The affair reportedly led to Sergey submitting for divorce from his spouse of 4 years, Nicole Shanahan. Painfully, Sergey had lengthy been one in every of Musk’s greatest supporters. He invested in a number of Musk firms, together with being one of many earliest traders in Tesla.

Real Estate

Elon beforehand owned $100 million value of actual property in California alone. In the Northern California city of Hillsborough, he continues to personal a 100-year-old, 16,000-square-foot villa that sits on almost 50 acres. He purchased this home for $23.364 million in 2017.

In Southern California, he as soon as owned six properties within the Los Angeles neighborhood of Bel-Air. His Bel-Air footprint included a 20,000-square-foot home that he purchased for $17 million in 2012, a 7,000 square-foot home he purchased for $20 million in 2015, and a 9,300-square-foot home he bought in 2016 for $24.25 million. In 2020, Elon shocked the world by asserting his intention to promote all his worldly possessions, beginning together with his LA properties. True to his phrase, he proceeded to dump every dwelling. He bought 4 properties without delay to 1 purchaser in December 2020.

Elon Musk Net Worth History

• On January 1, 2020, Elon’s net worth was $28 billion. He ended 2020 with a net worth of $170 billion.
• On July 13, 2020, when Elon’s net worth hit $80 billion for the primary time, $15 billion got here from SpaceX, and $65 billion got here from Tesla.
• In August 2020, two necessary elements pushed Elon’s net worth above $90 billion for the primary time. First, in mid-August, Tesla shares hit an all-time excessive of $1,900. At that degree, the corporate’s complete market cap was $350 billion. Elon’s 20% stake was value $70 billion. The second issue was an elevated valuation of SpaceX, which was formally confirmed on August 18, 2020. The fundraising spherical elevated SpaceX’s personal valuation to $46 billion, up from $36 billion. At a valuation of $46 billion, Elon’s 48% stake provides $22 billion in pre-tax wealth to Elon’s net worth.
• On November 17, 2020, Elon’s net worth topped $100 billion for the primary time. At that time, he surpassed Mark Zuckerberg to turn out to be the third-richest individual on the planet for the primary time.
• On November 24, 2020, Elon’s net worth topped $128 billion for the primary time. At that time, he surpassed Bill Gates to turn out to be the second-richest individual on this planet for the primary time. On that day, he was $54 billion away from Jeff Bezos’ $184 billion net worth, and his net worth had formally elevated by $100 billion since January 1, 2020.
• On January 7, 2021, Elon’s net worth hit $195 billion. On at the present time, Elon eclipsed Jeff Bezos because the richest individual on this planet for the primary time.
• On January 8, 2021, Elon ended the week with a net worth of $210 billion after beginning the week value $170 billion.
• In October 2021, when Tesla’s market cap topped $1 trillion and SpaceX’s valuation was $100 billion, Elon’s net worth was $300 billion.
• On November 1st, 2021, when Tesla’s market cap topped $1.2 trillion, Elon Musk’s net worth was $335 billion.
• On December 13, 2022, Elon Musk misplaced his title of richest individual on this planet when his $165 billion net worth was overtaken by Bernard Arnault’s $167 billion net worth.
• Elon ended 2022 with a fortune of $134 billion, a full $200 billion drop from a yr prior.
• Elon ended 2023 with a fortune of $210 billion