Entrepreneur and businessman Elon Musk, a South African/Canadian-American who turned 51 on June 28, is the CEO and CTO of SpaceX as well as the CEO and chief product architect of Tesla Motors. In 2021, Elon Musk net worth surpassed Bezos to overtake him as the richest person on earth. Musk’s contentious comments and turbulently planned takeover of Twitter are the subjects of the majority of recent news stories about him. Most recently, the revelation that he and Shivon Zillis (a Neuralink executive) had secretly given birth to twins in November 2021, making him a father of nine, has made headlines.
The money keeps coming in thanks to his present endeavors. Elon Musk net worth and his 21% ownership of Tesla has a market cap of almost $746 billion. As of the fall of 2021, SpaceX was valued at $100 billion.
Elon Musk Net Worth
According to Forbes as of July 7, Elon Must net worth is $233.5 billion. He is a multifaceted person who wears many hats, including those of an executive, inventor, and futurist. Despite the wild ride the stock market has been on, he continues to be the richest man on the planet, both on and off the planet. He does so well at Tesla that he does not receive a salary from his employment there.
Childhood and Career
Elon Reeve Musk, the oldest of Maye and Errol Musk’s three children, was born on June 28, 1971, in Pretoria, South Africa. Although his mother was Canadian, he was raised in South Africa, the country of his father. He made the decision to live with his father after his parents’ separated in 1980. Around this time, he started to love computers. When he was 12 years old, he made “Blastar,” his first video game, and sold it. You can play the game here.
In order to obtain a passport and relocate to Canada, where he spent two years studying at Queen’s University in Kingston, Ontario, he utilized his mother’s Canadian citizenship after graduating from Pretoria Boys High School in South Africa. His next stop was the University of Pennsylvania, where he eventually transferred and earned degrees in both economics and physics, graduating in 1995. He enrolled at Stanford University that year in order to earn a doctorate but left after just two days in order to take part in the internet boom.
Publicly traded stock holdings of Elon Musk and Elon Musk Net Worth
Tesla is the only other significant publicly traded stock that Elon Musk owns except the social media powerhouse Twitter. As the leader of the Series A investment round, Musk was both one of the company’s initial investors and workers. In 2008, Musk acquired a controlling interest in the business and assumed management.
Musk controlled around 163 million Tesla shares as of June 2022, or 17% of the business, which is presently valued at about $142 billion. Additionally, he receives his whole salary from Tesla in the form of company stock, so over time, his ownership is likely to grow. In fact, due to stock options, Musk’s ownership in the top EV maker climbed even after selling and donating about $22 billion in Tesla stock in the late 2021 period.
Due to a 10-year compensation plan that Tesla’s board authorized in 2018, Musk’s sole form of payment is through performance-based stock option tranches issued annually. The most ambitious target, a $650 billion market cap by 2028, has already been met, thus Musk will now be granted options to purchase 8.44 million additional shares at extremely low rates at each vesting date (provided Tesla’s market cap stays above that limit).
It’s important to remember that during the dot-com boom, Musk was a co-founder of X.com, which eventually evolved into PayPal (NASDAQ:PYPL). He held the position of CEO of PayPal until 2000 and formerly held about 12% of the company’s stock. He did own shares of PayPal before eBay (NASDAQ:EBAY) bought the business in 2002, but he no longer has any. After cashing out, he collected more than $100 million for his stake. Although Musk’s stock in PayPal would be worth billions of dollars today, it’s difficult to argue that cashing out was a mistake given that he utilized the money to launch Tesla and SpaceX.
Cryptocurrency investments made by Elon Musk
Musk is a cryptocurrency investor, both personally and through the companies he controls. We don’t know the exact amounts he owns, but we do know that. Especially when it comes to Dogecoin, one of his favorite digital assets, he has been very vocal (CRYPTO:DOGE).
Musk has also admitted to owning Ethereum (CRYPTO:ETH) and Bitcoin (CRYPTO:BTC), though he has stated that the Bitcoin is worth far more than the Ethereum or Doge that he owns. Significant Bitcoin holdings are also held by Tesla and SpaceX. The amount of cryptocurrencies Musk personally owns is unknown, despite the fact that Tesla is known to own roughly 42,000 Bitcoins, which will be worth about $1.3 billion in June 2022.