Elon Musk Richest Man: Here is how much the richest person in the world is worth and what he owns that makes him so rich. Elon Musk is not only a billionaire entrepreneur but also the richest person alive. His net worth of $252 billion puts him at the top of the Bloomberg Billionaire Index. With a net worth of $264 billion, he is also at the top of the Forbes Rich List.
Elon Musk Richest Man: Net worth
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Elon Musk was born on June 18, 1971, in Pretoria, Transvaal, South Africa, as Elon Reeve Musk. His parents, Errol Musk and Maye Musk were his parents, and he got his bachelor’s degree from the University of Pennsylvania.
Tesla is a renowned automobile and clean energy company, formed in 2022 by Elon Musk richest man in the world. He currently has a 15% interest in Tesla, which is worth $99.3 billion. Aside from Tesla, he has shares in Space Exploration Technologies, The Boring Company, and Twitter worth $46.9 billion, $3.33 billion, and 3.8 billion, respectively.
As previously stated, his net worth is $228 billion as of October 2022, which includes shares in Tesla, Space Exploration Technologies (SpaceX), The Boring Company, Twitter, and other companies, as well as $17.8 billion in cash.
Elon Musk Richest Man: Best Investments
Elon Musk has been involved in several successful technology companies, several of which have grown to be among the largest businesses in the United States. Musk, his brother Kimbal, and Greg Kouri launched Zip2 in 1995. According to Ashlee Vance’s biography of Elon Musk, Musk’s father, Errol Musk, provided them with US$28,000 during this time.
However, Elon Musk later contradicted this, claiming that his father invested in a later round of investment. The company created an Internet city guide with maps, instructions, and yellow pages and marketed it to newspapers. They worked in a modest leased office in Palo Alto, with Musk creating the website every night. Zip2 eventually landed partnerships with the New York Times and the Chicago Tribune.
The brothers persuaded the board of directors to forego a merger with CitySearch; however, Musk’s attempts to become CEO himself were rebuffed. In February 1999, Compaq paid $307 million in cash for Zip2, and Musk received $22 million for his 7.5% stake.
In 1999, Musk sold Zip2, a company that made software to help newspapers make online city guides. He used the money from the sale to start X.com. Later, he combined it with another business that sent money, Confinity, to make PayPal.
When eBay bought PayPal for $1.5 billion in 2002, Musk’s 11.7 percent share earned him about $180 million after taxes. When PayPal was sold, its founders and early employees made a lot of money, which they used to start and invest in new tech companies. People started calling the group of people who started PayPal the “PayPal Mafia.” This group includes Peter Thiel, an investor and political activist, and Max Levchin, the CEO of Affirm.
Since it started in 2003, Tesla has become a leader in making electric cars. Musk started investing in Tesla in 2004. In 2005, he became chairman of the board of directors, and in 2008, he became CEO. Tesla made its first car in 2008, and Consumer Reports named its Model S the best car overall when it came out in 2012. In the summer of 2020, Tesla became the most valuable car company in the world. In the fall of 2021, its market value went over $1 trillion, but it went down in 2022.
Musk owns roughly 16% of Tesla and wields considerable power within the company. He is in charge of designing, engineering, and manufacturing the company’s electric vehicles, batteries, and solar energy products all over the world.
In 2018, Musk and Tesla agreed to each pay $20 million to settle securities fraud charges brought by the SEC. The charges came after Musk tweeted that he could take the company private for $420 per share and that funding had been secured, even though there was no good reason for him to say this. As part of the settlement, Musk also had to step down as chairman of Tesla for three years.
Musk is also the CEO and lead designer at SpaceX, which builds rockets and spacecraft for missions to Earth’s orbit and, the company says, eventually to other planets. Musk started SpaceX in 2002 with most of the money he got from PayPal. NASA and the U.S. Air Force have given the company contracts to design rockets.
SpaceX is a private company, but according to a 2020 filing obtained by Bloomberg, Musk owned a 47 percent stake in the company through a trust.
The company’s website says that Neuralink is making ultra-high bandwidth brain-machine interfaces to link human brains to computers. The company said it had raised $205 million in 2021 from several venture capital firms and investors, including Google.
The company says Musk’s goal with Neuralink is to help people with brain injuries right away and lower the risk that AI poses to humanity in the long run. The company is one of the smallest Musk is involved with, and it has fewer than 200 employees.
The Boring Company
The Boring Company’s goal is to integrate quick, economical tunneling technology with an electric public transportation system to alleviate urban congestion and enable high-speed, long-distance travel. For research and development, the company built a 1.15-mile tunnel in Hawthorne, California. It is now building Vegas Loop, a public transportation system at the Las Vegas Convention Center.
The company was valued at $5.7 billion during its most recent investment round, which took place in April 2022 and raised $675 million. Vy Capital and Sequoia Capital, two major venture capital firms, spearheaded the fundraising.
DeepMind Technologies, an artificial intelligence firm, was founded in 2010 with Musk as a major investor. The company has created AI systems that can outperform humans at games. Musk has long cautioned about the risks of AI and the threat it poses to civilization.
Google paid $600 million for DeepMind in 2014.
SolarCity was founded in 2006 by two of Musk’s cousins and was financially supported by Musk, who served on the company’s board. The company sold and set up solar power systems and other related products for people in homes, businesses, and factories.
Tesla agreed to buy SolarCity for $2.6 billion in 2016. Some viewed the deal as a bailout for SolarCity, which had struggled to secure funds. Musk said he had nothing to do with figuring out how much the acquisition was worth, and he later won a shareholder case that had to do with the deal.