Wondering how much is the net worth of Elon Musk? Read further to know more about his net worth, companies, real estate investments and a lot more.
The principal contributors to Elon Musk’s wealth and popularity are the three companies he founded or co-founded including PayPal, SpaceX, and Tesla.
These 3 Elon Musk companies have made him a very successful and extremely rich individual.
How much is the net worth of Elon Musk?
The net worth of Elon Musk is $149.1 billion as of May 2021. He is an entrepreneur who founded Tesla Motors, SpaceX, and Paypal.
Musk’s father hailed from South Africa and his mother was a Canadian. Right from his early years, Elon Musk exhibited extraordinary talents in computers and entrepreneurship.
At the age of 12, Musk produced a video game and sold it to a computer magazine. In pursuit of economic opportunities, he moved to Canada and then to the US.
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The industrial engineer cum entrepreneur is now the CEO of Tesla, the electric car company in which he owns a significant percentage of shares. Tesla made him a billionaire in 2012 when he was only 40.
Elon Musk is now vigorously working with rocket technology to make space journey affordable and technologically sophisticated.
How he made such a big wealth is a story with several layers worth evoking our deep interest.
Net Worth of Elon Musk
According to Forbes, Elon Musk’s net worth is $149.1 billion as of May 2021. At present Elon Musk is the CEO cum Chairman of Tesla, the electric car manufacturing company.
Elon Musk’s principal occupation these days is revolutionizing transportation on the earth as well as in space. Tesla is now making electric cars and SpaceX is working on rocket technology.
Elon Musk owns about 21% stakes in Tesla. He has pledged over half of his Tesla stakes in a collateral arrangement for loans. Elon musk’s per hour income is as much as $16 million, unbelievable!
The figure 21% is exclusive of the stakes he has pledged for the loans. Musk’s rocket making company SpaceX is valued at $74 billion after the recent funding rounds it received.
As a self-made engineering entrepreneur, Elon Musk’s achievements are not simple. His career reveals that his passion to succeed has remained his inspiration throughout his story.
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Elon Musk’s Net Worth Over the in 2019 and 2020
When the year 2020 was born, Elon Musk’s net worth was worth $28 billion. At the end of the year, it had grown to $170 billion. What accounted for this dramatic increase is an interesting study.
On July 10, 2020, Elon Musk’s net worth topped $70 billion. Studies said $15 billion ensued from the private company SpaceX and the remaining $55 billion was Tesla’s contribution.
On July 13, his net worth touched $80 billion with $15 billion coming from SpaceX and the remaining $65 billion coming from Tesla.
In August, two significant turns of events helped boost up Musk’s net worth over $90 billion in 2020. In August, Tesla’s shares touched an all-time high of $1,900.
During those days, the market cap of the firm was $350 billion. Elon Musk had 20% stake in the firm which worked out to $70 billion.
The rise in value of the SpaceX stakes was confirmed on August 18, 2020.
A fundraising round around this time took up the valuation of the company from $36 billion to $46 billion. Valued at this stage of SpaceX’s growth, Elon’s stake was estimated at $22 billion.
On November 17, 2020, Musk’s net worth touched $100 billion. This new value made him the third richest person in the world overtaking Mark Zuckerberg.
On November 24, 2020, Musk’s net worth topped $128 billion. This increase made him the second richest person in the world overtaking Bill Gates.
As per the stats available on that day, Musk’s net worth was $54 billion lesser than the $184 billion net worth of Jeff Bezos. In less than a year’s time, Elon Musk saw his wealth increase by about $100 billion.
When Elon Musk’s net worth grew to $195 billion on January 7, 2021, Elon overtook Jeff Bezos to be counted as the richest person on the earth.
On January 8, 2021, his net worth touched $210 billion.
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Elon Musk’s Net Worth Growth Pattern
Elon Musk’s Net Worth Quinpulated in 2020 Pandemic
While the Covid-19 pandemic did not spare any individual on the earth from its far reaching impacts, Musk was an exception. So, why did elon musk net worth rise?
No other human in the world could do better than him in 2020 with regard to growing the wealth.
In this year, Elon saw his wealth nearly quintuple. When his net worth touched $187 billion, estimates said it was a 545% increase over the past year.
This event made him the richest person in the world. The rises and drops in Musk’s wealth was due to the fluctuations in the Tesla stock prices in 2020.
As Elon owned a significant percentage of Tesla stocks, the changes in stock prices sharply impacted his net worth with a gain of billions of dollars in a single day.
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Elon Musk’s Wealth was Eroded by $60 Billion within Two Months
2020 saw Musk’s wealth multiply more than 6 times. He started the innings with an opening balance of $36 billion, which grew to $209 billion over the year as estimated on January 10, 2021.
This sharp rise made him the richest person passing Bezos. Unfortunately, the most envied title was a short lived one.
Tesla shares experienced the sharpest decline in February and March 2021 wiping out more than $230 billion from the net worth of the investors.
Elon’s net worth plummeted touching $149 billion over the first two months in 2021.
Elon Musk’s Wealth Comparison with Top Richest People
Following an eventful rise in 2020, Elon Musk’s wealth again saw a decline in 2021. The current estimates say his net worth is $152 billion.
This value puts him in the second position after the Amazon founder and CEO Jeff Bezos.
Topping the list of world’s richest persons, Jeff Bezos has a net worth of $177 billion. The biggest chunk of his wealth ensued from Amazon, the world’s largest retailer.
The third position among the world’s richest billionaires is marked by Bernard Arnault, LVMH’s chairman, and CEO. He has a net worth of $152 billion.
Bill Gates stands in the fourth place among the richest persons of the world with his estimated net worth of $124 billion. The major part of his wealth came from Microsoft, which he co-founded with Paul Allen.
In fifth place among the world’s top billionaires, we find Mark Zuckerberg, the Chairman, CEO, and co-founder of Facebook, the biggest social networking platform in the world. He has a net worth of $97 billion.
Elon Musk Success Stories
Elon Musk’s success stories started with the founding of Zip2 Corporation in 1999. Let’s talk a little about Elon Musk’s stock options.
This online city guide was sold to one of the divisions of Compaq Computer in a deal worth $307 million in cash and $34 million in stocks.
In 1999, Musk co-founded the online financial services firm X.com. In 2002, eBay acquired X.com in a deal valued at $1.5 billion in stock. Eventually X.com became PayPal.
2002 saw the engineer entrepreneur create the third company called Space Exploration Technologies Corporation (SpaceX).
The rocket building company is doing quite well and is highly benefiting from the contracts awarded by NASA. SpaceX is preparing to start transporting astronauts.
In 2003, Martin Eberhard and Marc Tarpenning had founded Tesla Motors. Along with Ian Wright and J.B. Straubel, Elon joined Tesla motors as the first set of employees.
Subsequently, as a retroactive measure, these people were named as the co-founders of this firm.
In 2012, Elon created records when he spearheaded a SpaceX mission of launching the Falcon 9 rocket into space along with an unmanned capsule.
Elon Musk also championed a concept called Hyperloop in 2013 which will use tubes for transportation between cities with speeds up to 700 miles per hour.
Musk Says He is Cash-Poor
In 2021, Elon Musk has 48% stakes in SpaceX and 20% stakes in Tesla. He is also the owner of vested Tesla options worth 57 million.
Elon has pledged around 11 million shares in a collateral arrangement for his personal debts.
The documents filed in fulfillment of a defamation lawsuit the debts result from $500 million personal expenses and other kinds of bank loans.
Responding to a legal deposition in 2019, Musk said he is cash-poor as more than 99% of his wealth is locked up in the form of shares in Tesla and SpaceX.
He had declined his base salary of $56,380 most times. Musk owes $209 million in debts to Morgan Stanley.
A major part of this debt is related to home mortgages. He owes $213 million in debt to Goldman Sachs.
Over 50% of his stakes in Tesla are pledged in a collateral arrangement to Morgan Stanley and Goldman Sachs.
While launching SpaceX, Musk had burned all the liquid cash he had from his previous businesses to support the venture.
Elon Musk and Cryptocurrency
What’s with Elon Musk and Bitcoin these days? Let’s find out here!
Elon Musk has been a cryptocurrency believer surfacing from the fact that Tesla has bought Bitcoins worth $1.5 billion. In February, Musk disclosed about Tesla’s huge investment in Bitcoin, which drove its price to record high.
When Elon had to compare between Bitcoin and Dogecoin, he said, “Bitcoin is actually highly centralized, with a supermajority controlled by a handful of big mining (aka hashing) companies.”
In the second week of May 2021, Elon Musk said Tesla would not accept Bitcoin for selling cars. Instead, they would consider other cryptocurrency options like Dogecoin.
Elon believes that Dogecoin uses less than 1% of the energy Bitcoin uses for transactions and hence it is more eco friendly.
According to him, low fees and high volume are the two criteria that will very soon make Dogecoin the currency of the earth.
Nevertheless, he has also confirmed that Tesla has not sold any of its holdings in Bitcoin.
Elon Musk Investments in Real Estate
Earlier, Elon Musk’s real estate holdings in California alone was valued at $100 million.
He continues to own a 16,000 square foot villa in the Northern California town of Hillsborough sitting over 50 acres. He purchased this property in 2017 for $23.364 million.
In the Los Angeles neighborhood of Bel-Air, Elon Musk once owned six homes. This also included a 20,000 square feet property that he purchased in 2012 in a $17 million deal.
A 7,000 square feet house he bought in 2015 was valued at $20 million. In 2016, he purchased a 9,300 square feet property in a $24.25 million deal in 2016.
In 2020, he shocked the world with his tweet announcing the intention to sell all his properties starting with LA homes. During the first stage, he sold four houses at once to a single buyer in December 2020.
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