Elon Musk – $215.6 Billion Net Worth

Elon Musk – $215.6 Billion Net Worth, World’s Richest Person
Elon Musk – $215.6 Billion Net Worth, World’s Richest Person

Elon Musk – $215.6 Billion Net WorthElon Musk, a South African-born American entrepreneur and business tycoon is the world’s richest person whose net worth is about $215.6b.

Early life

Elon Musk – $215.6 Billion Net Worth – On June 28, 1971, in Pretoria, South Africa, Musk was born to a South African father and a Canadian mother. Early on, he showed aptitude for computers and entrepreneurship. He cofounded SpaceX, a manufacturer of launch rockets and spacecraft, as well as the electronic payment company PayPal.

He made a video game at the age of 12 and sold it to a computer magazine.

Musk left South Africa in 1988 after getting a Canadian passport because he didn’t want to participate in the country’s mandatory military service, which supported apartheid, and because he wanted to pursue the better economic opportunities in the United States.

Elon Musk – PayPal and SpaceX

Elon Musk – $215.6 Billion Net Worth – Musk studied at Queen’s University in Kingston, Ontario, before transferring to the University of Pennsylvania in Philadelphia in 1992. There, he earned bachelor’s degrees in economics and physics, which he later acquired in 1997.

He enrolled in Stanford University’s physics graduate program but dropped out after just two days because he believed that working in the field of the Internet would have a greater impact on society than studying physics.

He established Zip2, a service that offered maps and business directories to online publications, in 1995.

After the computer maker Compaq paid $307 million for Zip2 in 1999, Musk launched X.com, which eventually changed its name to PayPal, a company that specialized in online money transfers.

PayPal was purchased by the online auction site eBay in 2002 for $1.5 billion.

Musk has long believed that humanity must evolve into a multi-planet species in order for life to endure. He was not pleased with the rocket launchers’ high cost, though.

He established Space Exploration Technologies (SpaceX) in 2002 to produce rockets at lower costs. The Falcon 1 (first launched in 2006) and the bigger Falcon 9 (first launched in 2010) were the company’s first two rockets, and both were created to be considerably less expensive than rival rockets.

A third rocket, the Falcon Heavy, which made its debut in 2018, was made to lift 117,000 pounds (53,000 kg) into orbit, more than double the capacity of its main rival, the Boeing Company’s Delta IV Heavy, for only a third of the price. The Super Heavy-Starship system, which will replace the Falcon 9 and Falcon Heavy, has been unveiled by SpaceX. 100,000 kilograms (220,000 pounds) would be able to be lifted into low Earth orbit by the Super Heavy first stage.

The Starship, a spacecraft made for creating bases on the Moon and Mars as well as offering quick travel between cities on Earth, would be the payload.

The International Space Station’s supply ship, the Dragon, was also created by SpaceX. (ISS). Up to seven astronauts can fit on a Dragon spacecraft, which carried astronauts Doug Hurley and Robert Behnken to the ISS in 2020 on a crewed voyage.

In 2020, the Super Heavy-Starship system launched its initial test flights. Musk served as the company’s CEO in addition to serving as the Dragon, Starship, and Falcon rockets’ principal designer.

Despite the fact that SpaceX is a privately held corporation, Musk reportedly owned a trust that possessed a 47 percent share in the company, per a 2020 filing seen by Bloomberg.

Elon Musk –Tesla

Elon Musk – $215.6 Billion Net Worth – Musk has long been intrigued by the potential of electric vehicles, and in 2004 he contributed significantly to the funding of Martin Eberhard and Marc Tarpenning’s electric vehicle startup, Tesla Motors (later renamed Tesla).

Tesla unveiled their first vehicle, the Roadster, in 2006. It had a range of 245 miles (394 km) on a single charge.

It was a sports car that could accelerate from 0 to 60 miles per hour (97 kilometers per hour) in under four seconds, in contrast to the majority of previous electric vehicles, which Musk believed to be stodgy and boring. The company’s initial public offering in 2010 generated around $226 million in revenue.

Tesla unveiled the Model S car two years later, and automotive journalists praised both its performance and appearance. The business received additional recognition for its 2015 launch of the Model X luxury SUV.

The less priced Model 3 entered production in 2017 and quickly rose to the position of best-selling electric car of all time.

Musk proposed the Hyperloop in 2013, a pneumatic tube in which a pod carrying 28 passengers would travel the 350 miles (560 km) between Los Angeles and San Francisco in 35 minutes at a top speed of 760 miles (1,220 km/h), almost the speed of sound, in response to dissatisfaction with the estimated cost ($68 billion) of a high-speed rail system in California.

Musk asserted that the Hyperloop would only cost $6 billion and could carry the six million passengers who use that route annually with pods leaving on average every two minutes.

He claimed he could not spend enough time to the development of the Hyperloop due to his responsibilities as CEO of SpaceX and Tesla.

Elon Musk – Twitter

Musk, a longtime active user with a sizable following, revealed a 9% interest in social media giant Twitter in April 2022. He ultimately consented to buying the entire business before subsequently walking away from the arrangement. The sequence of events is shown in the following timeline:

April 4, 2022: After Musk revealed that he has a 9% stake in Twitter, Twitter stock shot up.

April 25, 2022: Musk’s offer to buy out Twitter for $44 billion, or $54.20 per share, is accepted by the corporation.

July 8, 2022: According to Musk, he hasn’t received enough information to know how many phony accounts are present on Twitter, so he wants to end the merger agreement.

July 12, 2022: Twitter sues Musk in an effort to get him to uphold the merger deal. The business claimed that in order to give him the information he wanted, it “bent over backwards.”

July 19, 2022: A Delaware judge grants Twitter’s request to expedite the litigation process, scheduling a five-day trial for October.

August 4, 2022: In a countersuit, Musk accuses Twitter of deceiving him by misrepresenting the company’s key user figures prior to his decision to buy it.

August 6, 2022: Musk invites Parag Agrawal, CEO of Twitter, to a public discussion regarding the proportion of Twitter users that are fraudulent or spam accounts.

Key facts about Elon Musk – World’s Richest Person

  • According to Bloomberg, his estimated net worth as of August 2022 was $254 billion, making him the richest person on earth. He has roughly $90 billion more than Jeff Bezos, the founder of Amazon, who comes in second.
  • Directs Tesla, SpaceX, Neuralink, and The Boring Company, four businesses.
  • Pretoria, South Africa native who acquired his first computer at the age of ten.
  • Attended the University of Pennsylvania and earned degrees in Economics and Physics. Musk signed up for Warren Buffett’s Giving Pledge in 2012, which calls on wealthy people to donate the majority of their fortune to charity causes.
  • Co-founder of PayPal, an online payment platform that was acquired by eBay in 2002 for $1.5 billion.

helped establish The Boring Company, a tunneling project that aims to reduce urban congestion and open up long-distance, high-speed transit.

  • The CEO of Neuralink, a company that is striving to create interfaces that will let computers and the human brain communicate.
  • In 2018, when the Securities and Exchange Commission (SEC) claimed that his tweets “lacked an appropriate foundation in fact,” in which he claimed that he could take Tesla private for $420 per share and that funding had been secured, he agreed to resolve charges of securities fraud.
  • Announced a 9% interest in Twitter in April 2022 before deciding to pay $44 billion to buy the entire company later in the same month. Later, he attempted to back out of the agreement.

Elon Musk’s top investments

Elon Musk has worked with some of the top tech firms, some of which have grown to be among the biggest in the United States.

Company Value # of Employees
Tesla $943 billion 99,290
SpaceX $125 billion 12,000
The Boring Company $5.7 billion <200
Neuralink $500 million – $1 billion <200
PayPal $114 billion 30,900

Note that the prices for Tesla and PayPal are as on August 8, 2022. The worth of SpaceX, The Boring Company, and Neuralink are as of June 2022, April 2022, and August 2021, respectively.

Sources: The Boring Company, Bloomberg, Crunchbase and Yahoo Finance

Neuralink

According to the company’s website, Neuralink is creating ultra-high bandwidth brain machine interfaces to link human brains to computers. The business disclosed that it has raised $205 million from many venture capital firms and investors in 2021, including Google.

According to the firm, Musk’s objective with Neuralink is to both assist those who have had brain injuries in the near future and, in the long run, lessen the danger that artificial intelligence poses to humanity. Less than 200 people work for the business, which is among Musk’s smallest.

The Boring Company

Elon Musk – $215.6 Billion Net Worth – The Boring Company aims to reduce urban traffic and enable high-speed, long-distance travel by fusing quick, economical tunneling technology with an electric public transportation system.

The business constructed a 1.15-mile research and development tunnel in Hawthorne, California, and is currently constructing the Vegas Loop, a public transit system at the Las Vegas Convention Center.

When the company raised $675 million in its most recent investment round in April 2022, it was valued at $5.7 billion. Two renowned venture capital firms, Vy Capital and Sequoia Capital, spearheaded the fundraising.

Deepmind Technologies

Musk was a prominent investor when DeepMind Technologies, an artificial intelligence firm, was founded in 2010. The business has created AI gaming systems that outperform people. Musk has long expressed concern about the risks that artificial intelligence poses to civilisation.

2014 saw Google purchase DeepMind for an alleged $600 million.

SolarCity

Two of Musk’s cousins founded SolarCity in 2006 with funding support from Musk, who also served on the board of directors. The business served consumers in the residential, commercial, and industrial sectors by selling and installing solar power equipment.

In 2016, Tesla and SolarCity reached an agreement for a $2.6 billion acquisition. The deal was viewed as a bailout for SolarCity by some detractors because it had trouble raising capital.

Musk claimed he wasn’t engaged in the acquisition’s valuation and later prevailed in a shareholder lawsuit concerning the arrangement.

Elon Musk’s Net worth

Elon Musk’s investments in and creation of businesses have increased his net worth. He was able to reinvest the money from the sale of PayPal at the beginning of his career into businesses that were incredibly successful, turning the earnings into much larger sums.

According to Bloomberg, his estimated net worth has increased significantly from the beginning of 2020, when it was at $27.6 billion. His current estimated net worth is $254 billion.

Since then, the value of Tesla’s stock has increased tenfold, and Musk’s net worth has grown along with it, making him the richest man in the world. At the start of 2020, he would be number 46 on the current list of billionaires with a net worth of $27.6 billion.

Elon Musk and Cryptocurrency

Through his tweets, Musk has also been a consistent commenter and proponent of cryptocurrencies. Tesla said in February 2021 that it had spent $1.5 billion on Bitcoin and intended to accept it as payment for its goods and services.

A few months later, Musk made an appearance on Saturday Night Live and referred to Dogecoin as a “hustle,” calling it a cryptocurrency. Following Musk’s remarks, the price of the coin dropped by 30% and has since continued to decline.

Just a few months after it began, Tesla ceased accepting Bitcoin as payment owing to environmental concerns. In July 2021, Musk stated that Tesla would “most certainly” resume accepting Bitcoin once it became more environmentally friendly.

Investment advice from Elon Musk

Invest in tangible items: In a tweet from March 2022, Elon Musk stated that “when inflation is strong, it is often better to hold tangible items such as a home or stock in firms you think make good products, rather than currency.” He further stated that he would not be selling any of his cryptocurrency holdings, including his Bitcoin, Ethereum, and Dogecoin holdings.

Diversification: In 2022, Musk advised followers to “own stock in multiple firms that produce goods and services that *you* believe in. Musk is promoting a diversified strategy by advising investors to select a number of businesses, which means you won’t be destroyed if one or two of your investments do poorly.

Stay calm: According to Musk, the only time to sell an investment is if the quality of a company’s goods and services is declining. When the market falls, he advises, “don’t freak out.”

Elon Musk’s Family Life – His children’s names, ages and mothers

The brood of Elon Musk just keeps multiplying.

Just one month before the birth of his second kid via surrogate with his on-again, off-again partner Grimes, the Tesla billionaire and Shivon Zilis, one of his top Neuralink execs, reportedly welcomed twins in November 2021.

Griffin, Vivian, Kai, Saxon, Damian, and X are Musk’s previous six living children, along with the three new additions.

Below, get to know the rich businessman’s children and their mothers.

Nevada Alexander Musk

Musk and Canadian author Justine Wilson welcomed their son Nevada Alexander Musk in 2002 after being married in January 2000.

Nevada, who was only 10 weeks old, passed away from sudden infant death syndrome (SIDS).

Griffin and Vivian Musk

Musk and Wilson used IVF to conceive a second child after losing their first.

In April 2004, she gave birth to twins named Griffin and Vivian Musk.

The age of Griffin and Vivian is currently 18.

When Vivian asked to change her first name and adopt her mother’s last name in June 2022, she came out as transgender.

“Gender identity and the fact that I no longer live with or wish to be related to my biological father in any way, shape, or form,” was the reason given in the application.

Kai, Saxon and Damian Musk

Kai, Saxon, and Damian, the former couple’s triplet sons, were born in January 2006 thanks to IVF. The trio is now sixteen.

In 2008, Musk and Wilson were divorced.

X AE A-XII Musk

Musk began dating singer Grimes in May 2018 after two marriages to “Westworld” actress Talulah Riley and a brief romance with actress Amber Heard. In May 2020, she gave birth to their son, X AE A-XII. Now X is two.

X’s parents had to change his name because “X” and “A-12” were illegal under California law because they aren’t letters in the English alphabet.

In September 2021, Page Six revealed the exclusive story that Musk and Grimes had split up.

Exa Dark Sideræl Musk

Exa Dark Siderael Musk, the SpaceX founder’s first daughter, was born through surrogate in December 2021, according to a March 2022 statement from Grimes. After their other child was given the name X, Exa was given the nickname Y.

In the shocking Vanity Fair interview, Grimes referred to Musk as her “boyfriend,” despite the fact that she described their relationship as “fluid.” However, she tweeted that they had broken up once more after the cover story was published.

Twins with Shivon Zilis

According to court documents obtained by Business Insider in July 2022, Musk secretly gave birth to twins in November 2021 with Shivon Zilis, director of operations and special projects at Neuralink.

A judge in Austin, Texas granted Musk and Zilis’ request to have the twins’ names changed in May 2022 so that they would “have their father’s last name and incorporate their mother’s last name as part of their middle name.”

We don’t yet know the names of the newborns.

Fact Check:: Does Elon Musk Own a Hotel in Mars?

Does Elon Musk Own a Hotel in Mars?
Does Elon Musk Own a Hotel in Mars?
Does Elon Musk Own a Hotel in Mars?
Does Elon Musk Own a Hotel in Mars?

Verdict: False

Claim: CDD discovered a trending news online stating that Elon Musk, the businessman who rose to prominence as the CEO of the private space company and electric vehicle manufacturer Tesla Inc. (TSLA), is about to announce the opening of his new hotel on Mars.

According to a rumor shared on social media and blog posts, the richest guy in the world is getting ready to open his newest investment, a hotel, on Mars. The letter and accompanying image stated that a night’s stay at the hotel would cost $5 million.

Fact Check: To support the allegation, we used Tineye, a reverse image search engine that enables searching by picture, to validate the image.

The outcome showed that the picture was originally posted online by venturebeat.com as a blueprint for the lab biomes that Interstellar is proposing to construct in the Mojave Desert of Mars. The image appears in the website’s teaser film for Interstellar Labs’ upcoming product.

The owner of SpaceX, a Space Exploration Technologies Corp., however, is Elon Musk Trust. SpaceX made headlines when it became the first private company to launch a payload into orbit and return it to Earth intact, a feat previously performed only by governmental organizations like NASA or Russia’s Roscosmos.

Musk stated in 2020 that SpaceX would send a million people on Mars by 2050; yet, neither Elon’s official Twitter page nor a reliable news source had made any current claims to this effect.

As part of a cooperation with NASA, SpaceX has continued to launch astronauts to the International Space Station and return them to Earth ever since its first crewed trip in 2020.

Elon Musk’s verified Twitter account, which has 102.7 million followers, was reviewed by fact-checkers, but they were unable to locate any posts mentioning a hotel on Mars.

We can thus state with certainty that the posts and stories saying that Elon Musk will soon open a hotel on Mars, with rates estimated to be $5 million per night, are untrue.

With this check, CDD continues to give the world’s population the information they need to make informed decisions and warns people against spreading rumors.

What people are asking

How did Elon Musk get so famous?

Elon Musk launched SpaceX and PayPal, a company that handles internet payments. He was appointed CEO of Tesla, a manufacturer of electric vehicles.

What kind of car does Elon Musk drive?

S-model Tesla

Elon Musk has acknowledged that he drives his Tesla Model S the most. Given that the Model S is the most comfortable and accommodating vehicle in the Tesla lineup, this shouldn’t come as a surprise.

 How much money does Elon make a day?

His hourly wage would be $51.30 million given that his expected daily profits for the first quarter of 2022 are $333.33 million per day.

How does Elon Musk make money?

Tesla. Tesla, which was established in 2003, has risen to the top of the electric vehicle industry. In 2004, Musk joined Tesla as an investor and rose to the position of board chairman before taking over as CEO in 2008.

What company did Elon Musk sell?

Musk and his brother created Zip2, an online business directory, as a digital replacement for the traditional paper yellow pages. He sold it to Compaq Computer Corporation in 1999 for more than $300 million (Google would not debut until 1998).

Is Elon Musk self-made billionaire?

16 times over, Elon Musk is a self-made billionaire. He is the businessperson that other businesspeople look up to the most. In addition to other incredible, world-changing businesses, he is the founder and CEO of Tesla and SpaceX. In fact, he is seeing a Hollywood actress.

What has Elon Musk done for the world?

Fortunately, because Musk despises traffic so much, he formed The Boring Company in 2016 with the goal of building “safe, quick-digging, and inexpensive transportation, utility, and freight tunnels” that would “solve gridlock, enable instantaneous point-to-point mobility, and alter cities.”