Elon Reeve Musk is a Business tycoon and investor. He started SpaceX, where he serves as CEO and Chief Engineer; he invested in Tesla, Inc., where he serves as CEO and Product Architect; he started The Boring Company; he co-founded Neuralink and OpenAI; and so on.
Both the Bloomberg Billionaires Index and Forbes’ real-time billionaire’s list place Musk at the top of their respective lists but as updated on November 11, 2022, Musk’s Net worth falls to US $196.3B.
A native South African, Elon Musk entered the world on June 28th, 1971, in Pretoria. At age 10, Musk bought his first computer and taught himself how to program.
The video game he built and titled “Blaster” was the first piece of software he sold when he was just 12 years old. In 1989, at the age of 17, he traveled to Canada to attend Queen’s University.
In 1992, he transferred to the University of Pennsylvania to pursue a double major in business and physics. Musk earned his first bachelor’s degree in economics before moving on to acquire a second bachelor’s degree in physics and eventually a doctorate in energy physics.
But he left Stanford in the midst of the dot-com boom and joined the ranks of the internet’s early pioneers.
What Is Elon Musk’s Net Worth?
Elon Musk is a successful entrepreneur, inventor, and investor of Canadian and South African descent. According to Forbes, Musk’s wealth is estimated at US $196.3B.
He is best recognized for his roles as CEO and CTO of SpaceX, CEO and chief product architect of Tesla Motors, and chairman of SolarCity, but he wears several hats and is always working on something new and exciting. He is one of the wealthiest people in the history of the globe and the modern era.
Elon Musk, as of this writing, holds over 25% of Tesla and 43% of the privately held SpaceX. Tesla’s market capitalization hit $1 trillion for the first time in October 2021. Within the same month, SpaceX stole cash at a valuation of $100 billion. For the first time, Elon’s wealth approached $300 billion.
As CEO of Tesla, Elon receives no pay. Instead, he has an incentive structure that is related to the company’s market valuation milestones, which is both rare and lucrative. Tesla was worth about $50 billion when the strategy was developed.
Increases in market capitalization by $50 billion each constitute one of 12 possible milestones. Having achieved every target, Elon is entitled to the full $100 billion in bonus funds. In accordance with this strategy, stock grants are made quarterly following confirmation from the Board of Directors that the target has been met.
What Does Elon Musk Make per Hour?
We’ll assume he works Monday through Friday, 9:30 a.m. to 4:00 p.m. Eastern Standard Time (EST), since his fortune is directly proportional to the performance of Tesla shares. According to this calculation, his workday is worth 6.5 hours of compensation.
The question of Elon Musk’s hourly wage may now be answered more precisely. His hourly wage in the first quarter of 2022 is $51.30 million, based on his expected daily earnings of $333.33 million.
How Much Does Elon Musk Earn per Minute?
There’s no denying that in the first three months of 2022, Elon Musk made more money per minute than many individuals will make in their entire lives. His hourly wage was over $51.30 million, which equates to about $855,000 in minute earnings.
According to data collected by the BLS, full-time wage and salary workers in the United States brought home a median of $1,037 a week in the first quarter of 2022. As a result, it would take the typical worker 825 weeks, or over 16 years, to make as much as Musk did in one minute.
Elon Musk’s Businesses
You may now be wondering, “What businesses does Elon Musk own?” since we’ve just revealed his annual income.
Tesla, which has been in business since 2003, manufactures electric vehicles and technologies for generating and storing sustainable energy. Forbes estimates that Musk holds 21% of the company, but that more than half of his shares are pledged as collateral for loans.
Investing in Tesla has paid off, as the stock has increased by 33% in the past year. On June 21, 2022, they ended at $711.11, with a 52-week range that was significantly larger than usual: $620.46 to $1,243.49.
Musk also serves as CEO of SpaceX, which he co-founded in 2002. Its website boasts a total of 164 launches, 126 landings, and 102 flights since the company’s founding.
Though SpaceX is privately held, existing investors estimated the company’s value at over $100 billion during a share sale in October 2021. According to CNBC, the company’s officials have agreed to sell up to $755 million worth of stock to new and existing investors at a price of $560 per share.
The board of Twitter decided to sell the firm to Musk in April 2022 for $44 billion after Musk revealed a 9.1% share and threatened a hostile takeover.
After Musk tried to back out and Twitter filed a lawsuit, the sale was finalized in October 2022. Currently, Musk is thought to possess 82% of the business.
Elon Musk May Be Selling Tesla Shares
Most of Musk’s wealth is derived from Tesla stock, which has seen a sharp decline in value this year as has been highlighted.
According to Reuters, he has also sold off over $36 billion in Tesla stock over the past year, including 19.5 million shares valued at little under $4 billion between last Friday and Tuesday, according to SEC filings.
According to Bloomberg and Market Insider, Tesla investors may worry that Musk is less focused on the automaker as he devotes more time to Twitter transactions.
They might also be expecting him to sell more shares to pay for that purchase, which would depress Tesla’s stock price even more.
Three different women, including actress Talulah Riley, have been Elon’s brides. He wed Canadian writer Justine Wilson from 2000 till 2008. They have five sons between them who are all siblings.
Furthermore, he has dated Amber Heard and Canadian singer Grimes. Elon and Grimes have a son, X A-Xii, in May of 2020. In December 2021, they announced that they had successfully conceived their second child using a surrogate.
Another set of twins, born to one of Elon’s Neuralink executives in late 2021, was also warmly welcomed by their boss.
As of this writing, he is the father of ten kids. It was reported in July 2022 that Elon Musk had an affair with the wife of Google co-founder Sergey Brin in December 2021.
Sergey’s four-year marriage to Nicole Shanahan apparently ended because of his adultery. The fact that Sergey had been one of Musk’s main supporters for so long was very painful. He was an early investor in Tesla and other Musk enterprises.
Real Estate Holdings
Elon’s previous California property holdings were valued at $100 million. He is still the proud owner of a 100-year-old, 16,000-square-foot home on roughly 50 acres in the Northern California town of Hillsborough. This home was $23.364 million in 2017 when he made the purchase.
Once upon a time, he had six properties in the affluent Bel-Air district of Los Angeles. He left a 20,000-square-foot footprint in Bel-Air, which he purchased for $17 million in 2012, a 7,000-square-foot one for $20 million in 2015, and a 9,300-square-foot one for $24.25 million in 2016.
Elon shocked the world in 2020 when he said he was selling all of his goods, beginning with his houses in Los Angeles. He followed through on his promise and sold off all of the properties. In December 2020, he made a deal to sell four houses at once to the same buyer.
Irving is the Chief Editor at the Landscape Insight. He lives just outside of New York. His writings have also been featured in some very famous magazines. When he isn’t reading the source material for a piece or decompressing with a comfort horror movie, Irving is usually somewhere in his car.