In September last year, Elon Musk overtook Jeff Bezos to become the richest person in the world. According to Forbes, Elon Musk net worth stands at $269 billion as of January 2022.
Elon Musk’s net worth is equivalent to 1.29% of the GDP of the United States.
Musk is the founder of Space X, a space exploration company as well as Tesla, an American maker of electric vehicles.
Tesla is the most valuable automaker in the world right now being worth over $1 trillion.
Most of the billionaire’s wealth comes from his stake at Tesla. He owns about 23% of the company which is valued at more than $175 billion.
The self-made billionaire also co-founded PayPal which was later acquired by e-Bay in 2002 for $1.5 billion.
How has Elon Musk net worth changed over time
In 2012, Elon Musk had an estimated net worth of $2 billion. 8 years later, At the beginning of 2020, his wealth was about $27 billion.
Later that year Tesla stock began to surge thus making him even richer. By November 2020 Elon Musk had overtaken Facebook owner Mark Zuckerberg to become the 3rd wealthiest person on earth.
A few days later he also surpassed Bill Gates and became the world’s second-richest individual. By January 2021, Musk had a net worth of $185 overthrowing Jeff Bezos.
However, after a month Elon’s net worth dropped returning him to number 2 on the list of the world’s wealthiest individuals.
By the end of 2021, Elon Musk net worth shot to over $200 billion after Tesla stock surged again. This made him the richest man in the world with Jeff Bezos coming in at number 2 with a net worth of $188 billion.
So how did Elon Musk start and how did he become the world’s richest individual. Read on to find out.
Elon Musk Age, Early life and Family
The billionaire is currently 50 years old, 8 years younger than Jeff Bezos. He was born in Pretoria, South Africa in 1971.
His mother was a model and his dad was an engineer. However, they later divorced in 1980.
As a child, Elon was an introvert and was bullied for the most of his childhood. At one time, he was hospitalized after a bunch of boys threw him down the stairs.
The 50-year-old has one younger brother and one younger sister.
At just the age of 12, Elon Musk began to learn computer programming. He even developed a video game named Blastar which he sold for about $500.
Musk then went to Canada in 1989 and later moved to the United States in the early 1990s.
In 1995, Musk graduated with a Bachelor of Science degree in economics and a Bachelor of Arts degree in Physics from the University of Pennsylvania.
He then tried to get a job but was not successful. It was at this time that Musk decided to start an internet startup.
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In 1995, Elon Musk together with his brother Kimbal Musk and Greg Kouri founded Zip2.
Zip2 was a web software company that provided and licensed online city guide software to newspapers.
According to Elon Musk, when they were starting Zip2 he shared one computer with his brother and worked super hard.
Musk says that he used to work for over 100 hours a week and slept on the couch in the office since they could not afford an apartment.
In 1999, Compaq acquired Zip2 for $307 million. Elon Musk who had a 7% share in Zip2 received $22 million.
In 1999, Elon Musk co-founded X.com alongside Harris Fricker, Ed Ho, and Christopher Payne. X.com then merged with Confinity in 2000 and became PayPal.
PayPal was then sold to eBay in 2002 for $1.5 billion. Elon Musk being the majority shareholder received about $165 million.
In 2002, Musk founded Space X with the aim of making affordable rockets to enable the colonization of Mars. The company dominates the U.S commercial space market.
Elon Musk is the CEO and the Chief Engineer of Space X.
Today the company is valued at more than $100 billion with Musk owning a 48% stake in the rocket manufacturer.
Last year, Space X had a profit of about $1.6 billion, up from $1.2 billion in 2020.
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Tesla is an American manufacturer of electric cars, solar panels, and solar roof tiles.
It’s the world’s most valuable automaker and one of the most valuable companies worldwide alongside other major tech companies like Amazon, Facebook, Apple, and Google.
Tesla is currently valued at $1.02 trillion. More than three-quarters of Elon Musk net worth comes from his shares in the automaker.
In 2003 Tesla was founded by Martin Eberhard and Marc Tarpenning. In 2004, Elon Musk invested $6.5 million into Tesla becoming the majority shareholder and the chairman of the company.
Elon Musk currently owns 23.1% of Tesla
In 2020, the company had revenues in excess of $31.5 billion.
SolarCity manufacturers, markets, and installs solar panels in residential and commercial properties across the world.
The company was founded in 2006 by Lyndon Rive and Peter Rive with the help of Elon Musk. The two also happen to be cousins of Musk.
By 2013, SolarCity was the second-largest provider of solar panels in America.
In 2016, Tesla acquired SolarCity for $2.6 billion.
SolarCity is currently worth more than $3.5 billion
In 2016 Elon Musk co-founded Neuralink to make sensors that would enable human beings to communicate with machines.
Musk is currently the CEO of the Neurotechnology startup which is valued at over $500 million.
The Boring Company
In 2016 Elon Musk founded the Boring Company to construct tunnels and ease congestion.
The company which is valued at around $920 million completed its first public project in June 2021 in Las Vegas.
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The billionaire has been married and divorced 3 times. In 2000-2008, 2010-2012, and from 2013-2016. He has 7 children.
Elon Musk owns a twin-engine private jet, a Gulfstream 650ER worth $70 million.
Finally, here are some quotes by Elon Musk that I thought could inspire you to your success
- “I think it is possible for ordinary people to choose to be extraordinary.”
- “Persistence is very important. You should not give up unless you are forced to give up.”
- “When something is important enough, you do it even if the odds are not in your favor.”
- “I could either watch it happen or be a part of it.”
- “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.”
- “It’s OK to have your eggs in one basket as long as you control what happens to that basket.”
- “We’re going to make it happen. As God is my bloody witness, I’m hell-bent on making it work.”
- “When Henry Ford made cheap, reliable cars, people said, ‘Nah, what’s wrong with a horse?’ That was a huge bet he made, and it worked.”
- “If you go back a few hundred years, what we take for granted today would seem like magic-being able to talk to people over long distances, to transmit images, flying, accessing vast amounts of data like an oracle. These are all things that would have been considered magic a few hundred years ago.”
- “People should pursue what they’re passionate about. That will make them happier than pretty much anything else.”
- “Pay attention to negative feedback, and solicit it, particularly from friends.”