Elon Musk Biography & Net Worth
|Popular Name:||Elon Musk|
|Real Name:||Elon Reeve Musk|
|Birth Date:||28 June 1971|
|Birth Place:||Pretoria, South Africa|
|Nationality:||South African/ Canadian/ American|
|Spouse(s):||Justine Musk (m. 2000–2008), Talulah Riley (m. 2010–2012 m. 2013 – 2016 )|
|Children:||6 (Nevada Alexander Musk, Kai Musk, Griffin Musk, Xavier Musk, Saxon Musk, Saxon Musk)|
|Profession:||Investor, Technology entrepreneur, and engineer|
|Net Worth:||$180 Billion|
|Last Updated:||April , 2021|
Elon Musk is an investor, entrepreneur, engineer and co-founder / CEO of Tesla Inc . He is also the founder of SpaceX and a key member of Hyperloop, Paypal, OpenAI, SolarCity, The Boring Company, Neuralink and Zip2.
Musk is the second richest man on the planet with an estimated net worth of $180 billion. He is considered as one of the smartest and influential names on the planet and has immense knowledge of IT and Artificial Intelligence.
Elon Musk was born on 28th June 1971 in Pretoria, South Africa to Errol Graham Musk and Maye Musk. He was the first child of his parents and has two younger siblings named Kimbal and Tosca.
Elon Musk bought his first computer when he was just 10 years old and taught himself how to program. At age 12 he sold his first software – a game he built called, Blaster.
Musk had his early education at Pretoria Boys High School and in 1989 at the age of 17, he moved to Canada where he attended Queens University. In 1992, he left Queen’s University for University of Pennsylvania where he studied for a degree in Economics and Physics. Musk also pursued a PHD in energy physics at Stanford University but dropped out to take advantage of the internet boom.
Elon Musk is a man who wears many hats and is associated with some of the biggest brands in the world. He is the CEO and product architect at Tesla Inc, CEO and CTO at SpaceX, CEO of Neuralink, Co-Chairman of OpenAI, Chairman of SolarCity and founder of the Boring Company.
His first company was an online city guide named, Zip2 Corporation. Musk sold this company to a division of Compaq computer in 1999 for $307 million cash and stock options of $34 million. He co-founded an online financial services / payments company named X.com in 1999. The company merged with Paypal the following year and in 2002, eBay acquired Paypal for $1.5 billion.
Elon Musk’s third company SpaceX ( Space Exploration Technologies Corporation ) was founded in 2002. SpaceX was founded to build spacecraft for commercial space travel and by 2008 had been awarded a contract by NASA for handling cargo transport for the International Space Station. SpaceX currently also transports astronauts to the space station.
Musk’s next venture was Tesla Motors, an automobile firm with a mission to produce affordable,mass market electric vehicles. Tesla Motors was founded by Martin Eberhard and Marc Tarpenning in 2003. Elon Musk, J.B Straubel and Ian Wright were the company’s first employees and were named co-founders retroactively.
Tesla Motors today has a market value of almost $700 billion and is one of the most valuable and iconic brands in the world.
Elon Musk is involved with Hyperloop – a futuristic transportation system founded in 2014 ; OpenAI founded in 2015 and The Boring Company, founded in 2016. In 2016, SolarCity, the leading residential solar installation company merged with Tesla Motors.
Elon Musk is a citizen of South Africa, Canada and The United States of America. He has been married three times to two women, Justine Musk and Talulah Riley. Elon married Justine in 2008 and got divorced in 2008. He then married Talulah Riley in 2010 and they got divorced in 2012, only for them to remarry in 2013 and again get divorced in 2016.
Musk has six children whose names are Kai, Damian, Griffin, Xavier, Nevada Alexander and XAE A- Xii. He has been linked romantically with Canadian musician Grimes and actress, Amber Heard. Musk welcomed a baby boy with Grimes in 2020.
Elon Musk was raised a Catholic but he describes himself today as an Atheist.
Elon Musk Net Worth
Elon Musk net worth as at April 2021 is estimated at about $180 billion. He is today the second richest man on the planet and only second to Jeff Bezos.
Musk had a phenomenal 2020 which saw his net worth rise by $142 billion during the year. He started 2020 with a net worth of $28 billion and ended the year with $170 billion. Tesla Inc and SpaceX valuation increased dramatically in 2020.
Elon Musk currently owns 48% of SpaceX which is valued at $48 billion and 22% of Tesla Inc which is valued at $670 billion. He also controls about $50 billion of unrealized gains on vested stock options.
Musk earns no salary as CEO of Tesla Inc, but has a highly unusual and extremely lucrative bonus plan tied to market capitalization milestones of the company.
His Tesla Compensation Plan unveiled by the board in January 2018 could see Musk potentially earning $100 billion in stock options over a decade in 12 tranches. The first chunk of options are earned once Tesla hits a market capitalization of $100 billion (company was valued at about $50 billion when plan was announced). Musk gets an additional chunk every time Tesla’s market capitalization increases by $50 billion. He earns the full stock option of $100 billion when Tesla’s market capitalization hits above $650 billion.
Elon Musk is a big player in the real estate market. He previously owned $100 million worth of properties in California alone however, he sold most of his real estate holdings in late 2020.