Elon Musk Net Worth : Elon Musk is a Canadian-American businessman, inventor, and investor of South African origin. Elon Musk is valued $264 billion dollars. Elon Musk is now most recognised for being the CEO and CTO of SpaceX, CEO and chief product architect of Tesla Motors, and chairman of SolarCity, despite the fact that he wears multiple jobs and is always announcing his newest endeavour. He currently holds the title of both the richest man in the world and in contemporary history .
Elon Musk now controls 43% of privately owned SpaceX and around 24% of the outstanding shares of Tesla. Tesla’s market capitalization first surpassed $1 trillion in October 2021. In the same month, SpaceX raised his funds valued $100 billion. Elon’s net worth was now for the first time hovering over $300 billion.
On July 10, 2020, Elon’s net worth surpassed $70 billion for the first time. At that time, SpaceX, a privately held company, was responsible for around $15 billion, while Tesla was responsible for the remaining $55 billion.
When Elon’s net worth reach $80 billion for the first time on July2020, $65 billion from Tesla , Tesla’s value at the time the proposal was hatched was roughly $50 billion $15 billion from SpaceX contributed.
Source of Elon Musk Net Worth
- Sold the original business Zip2 to Compaq in 1999 for $340 million.
- part of his wealth was invested in X.com
- Paypal replaced X.com. For $1.5 billion, Paypal sold to eBay in 2002.
- holds a 48% stake in SpaceX, which is worth $46 billion
- controls 22% of Tesla
- In 2020, net worth climbed by $142 billion.
- He once claimed to be “cash poor” and to be $500 million in debt.
- Previously owned real estate worth $100 million.
- Sell six properties in LA in 2020
Elon Musk Net Worth From Tesla
Tesla’s CEO, Elon, does not get a salary. Instead, he has a highly unorthodox compensation programme that is directly correlated to the company’s market valuation goals. Tesla’s was hatched was roughly $50 billion. Based on rises in market worth of $50 billion, there are 12 total milestones. Elon achieved all single goal, making him eligible to collect the whole $100 billion from the incentive scheme. Quarterly following the Board of Directors’ confirmation that the milestone was reached, shares under this plan are issued.
Best company of Elon Musk Company
Zip2 Corporation, Musk’s first business, was an online city guide. For $34 million in stock options and $307 million , a division of Compaq Computer acquired Zip 2 in year 1999. Musk co-founded the online financia andl services and payments startup X.com in year 1999 as well. The modern-day PayPal was founded as a result of a purchase made by X.com the year after, and eBay bought paypal for $1.5 billion in shares in 2002.
Space Exploration Technologies Corporation (SpaceX), Musk’s third business, was established in 2002 with the goal of developing spacecraft for for-profit space travel. When SpaceX reached its peak of success in 2008, NASA gave the firm the go-ahead to transport goods to and from the International Space Station, with future intentions to transfer astronauts.
Tesla Motors, a car manufacturer committed to creating accessible, mass-market electric vehicles, came next. Marc Tarpenning and Martin Eberhard established Tesla in 2003. The earliest workers of the firm were Elon, Ian Wright, and J.B. Straubel, who were subsequently declared co-founders.
Zip 2 company
An online city guide with maps, directions, and yellow pages was created by the firm and distributed to newspapers. Musk coded the website every night while they laboured at a modest rental office in Palo Alto. Finally, Zip2 was able to secure deals with the Chicago Tribune and the New York Times. Musk tried to take over as CEO, but the brothers convinced the board of directors to reject a merger with CitySearch. In February 1999, Compaq paid $307 million in cash to purchase Zip2, and Musk got $22 million for his 7% ownership.
SpaceX company
Along with Jim Cantrell and Adeo Ressi, he went to Moscow in October of that same year to purchase reconditioned intercontinental ballistic missiles (ICBMs) that could launch the greenhouse payloads into orbit. Musk met with NPO Lavochkin and Kosmotras, but because Musk was perceived as a beginner, the group left for the United States with nothing. The team went back to Russia in February 2002 together with Mike Griffin, president of In-Q-Tel, to search for three ICBMs. In a subsequent meeting with Kosmotras, they were presented with a $8 million bid for one rocket, which Musk turned down. Instead, he made the decision to start a business that would produce inexpensive rockets.Musk launched SpaceX in May 2002 with $100 million of his early wealth and rose to the positions of CEO and Chief Engineer.
In 2006, SpaceX tried to launch the Falcon 1 rocket for the first time. Despite the rocket’s failure to enter Earth orbit, NASA Administrator Mike Griffin, a former SpaceX consultant, gave it a contract for the Commercial Orbital Transportation Services programme later that year. SpaceX finally succeeded in putting the Falcon 1 into orbit in 2008 after two more failed efforts that almost led to Musk and his businesses going bankrupt. Later that year, SpaceX obtained a contract from NASA for the Commercial Resupply Services programme for $1.6 billion for 12 trips using its Falcon 9 rocket and Dragon spacecraft to the International Space Station, which would take the place of the Space Shuttle once it was retired in 2011. A first for a commercial company, the Dragon vehicle berthed with the ISS in 2012.
The Boring Company
Musk has referred to himself as a “nano-manager” and is frequently characterised as a micromanager. Instead of creating formal business strategies, Musk likes to attack technical challenges using an iterative design technique and being forgiving of mistakes. Against the advice of his advisors, Musk has pursued ambitious, expensive, and hazardous projects, such as the removal of front-facing radar from Tesla Autopilot, and compelled staff to use the company’s own lingo. Because of Musk’s fixation on vertical integration, his businesses have moved the majority of production inside. Although this reduced the cost of SpaceX’s rocket, vertical integration has greatly hampered the software’s usability.
Musk’s management style with his staff, with whom he talks directly via bulk emails, has been described as “carrot and stick,” praising constructive feedback while also being known to threaten, curse, and abruptly terminate his staff. The majority of Musk’s staff are aware of and prepared to fulfil the demands of his extended work hours—up to 80 hours per week—while a handful have gone as a result. He frequently dismisses people all at once, as was the case in 2018’s “production hell” for the Model 3, when Musk even slept on the manufacturing floor to set an example for staff. Due to his worries about the economy, Musk stated intentions to terminate 10% of Tesla’s staff in 2022. He stopped working remotely for SpaceX that same month, and