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What is Elon Musk’s Net Worth? How Rich is the Richest Man Alive?

Published on May 16th, 2022 | Updated on May 16th, 2022 | By FanFest

Elon Musk is the most high-profile and wealthy individual on the planet today. He made his money as an inventor, investor, and business magnate. He’s the CEO of Tesla, SpaceX, and The Boring Company.

His most recent acquisition is the social networking site Twitter. Elon Musk is currently worth $250 billion according to Forbes.com.

Early Life of Elon Musk

Elon Reeve Musk was born on June 28, 1971, in Pretoria, South Africa. His father is an electromechanical engineer named Errol Musk, and his mother is a model named Maye Musk. He has a brother named Kimbal and a sister named Tosca.

Because of this, Elon’s father once ran an emerald mine in Zambia, thus he was raised in a wealthy family. He remained with his father following their divorce in 1980. In 1978, he started learning computer programming at the age of 12. He attended Pretoria Boys High School in South Africa before graduating there.

He enrolled at Queen’s University in Ontario, Canada with his mother in 1990. He went to Pennsylvania and got a physics and economics degree in 1997 after transferring to the University of Pennsylvania. Two years before that, he was accepted for a Ph.D. program at Stanford University, but he withdrew to start an internet firm instead.

Musk’s First Ventures and Businesss

In 1995, Elon Musk, his brother Kimbal, and entrepreneur Greg Kouri founded Zip2. It became a success, and the Musk brothers signed contracts with The Chicago Tribune and The New York Times. Compaq paid $307 million for Zip2 in 1999.

Musk founded PayPal in 1998, and it was one of the first federally approved internet payment systems. X.com was one of the nation’s first legally authorized online payment services, and Musk served as the firm’s first CEO but was later replaced by business executive Bill Harris.

When X.com combined with PayPal, Musk returned to his original seat. Thiel departed as a result of Musk’s actions. Thiel replaced Musk at PayPal in 2001 and renamed the resulting organization PayPal. It was purchased by eBay for $1.5 billion in 2002.

Elon Musks’ Biggest Projects That Made Him Money

In 2001, the successful entrepreneur joined the Mars Society, a non-profit organization. This prompted him to establish SpaceX in 2002. The firm has taken part in several of humanity’s recent space exploration milestones in history.

In 2004, Elon Musk took over as the CEO and product architect of Tesla, Inc. after replacing co-founder Martin Eberhard following the financial crisis in 2008.

Tesla’s brand became known for its futuristic electric sports vehicles during Elon Musk’s reign as CEO. It eventually evolved into the most valuable automobile manufacturer in the world. This allowed Elon to pursue other things in life.

Elon Musk’s Future Endeavors

His relatives, Peter and Lyndon Rive, founded SolarCity in 2006 inspired by Elon’s idea. Tesla Inc. acquired the firm to establish Tesla Energy in 2016.

Elon Musk began several ventures in 2016, including Neuralink and The Boring Company, a tunneling and infrastructure firm. Of course, there’s his recent plan to buy Twitter. In 2022, a deal is expected to close; Musk is attempting to secure financing for the acquisition of the social media platform as we speak.

Elon Musk isn’t the only one who has invested in Bitcoin and Ethereum. He’s also a big supporter of Dogecoin, which is inspired by memes. He’s also expressed his love for Bitcoin and Ethereum.

What is Elon Musk’s Net Worth?

Elon does not get paid as CEO of Tesla. Instead, he has a highly unusual and lucrative bonus arrangement linked to Tesla’s market cap milestones. Elon achieved all 12 objectives. It catapulted him to $100 billion in wealth.

As for SpaceX, the company is presently valued at $100 billion, and Elon Musk owns a 48% stake in it. All of this is added to his other companies and cryptocurrencies to give him Earth’s richest man with a net worth of $265 billion.

Musk’s Personal Life

In 2000, Elon Musk was married to Justine Wilson, the author of The Bassinet Diaries. Their first child, Nevada Alexander, was born in 2002 but died after ten weeks. They subsequently had triplets: Damian, Saxon, and Kai with twin sister Griffin. In 2008, Elon Musk divorced his wife Justine and remarried two years later only to be divorced again.

Elon was linked to actress Amber Heard for a few months in 2017 and he is currently seeing musician Grimes. In 2020, they had a baby named X Æ A-Xii. Elon has a beautiful house in Texas, but he sometimes stays at a Boca Chica $50,000 modular tiny house.

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