Elon Musk Net Worth

Elon Musk Net Worth: Elon Musk is an engineer, inventor, and technology entrepreneur. He is the founder, CEO, and CTO of Tesla, SpaceX, CEO of The Boring Company, cofounder of OpenAI, founder of PayPal, and also the founder and CEO of Neuralink.

according to Forbes as of 2020, Elon Musk net worth is $20.2 Billion.

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With a net worth of 2 Billion dollars in 2012, Elon made himself debut in the Forbes list of billionaires. He sold PayPal in 2002 for $1.5 Billion. He had an 11% share of PayPal which made him $180 million.

Early Life

Musk opened his eyes to this world on June 28, 1971, in the city of Pretoria, South Africa. When he was 10 his parents signed a divorce. After this, most of the time he lived with his father. He described his time with his father as the worst time and later also referred to his father as “A terrible Human Being”.

He had a keen interest in programming, so he started learning it and wrote his first program at the age of 12, a game he named “The Blaster”. He sold this game for $500 to PC and Office Technology Magazine. This was his first of many earnings.

In 1989, he moved to Canada to attend Queen’s University at the age of 17. For higher education, Musk took admission at the University of Pennsylvania from where he graduated with a degree in economics. He stayed there to pursue a second Bachelor’s degree in physics.

After completing his degree, he joined Stanford University to study for a Ph.D. in Energy Physics. It was the era when the web of the internet was increasing rapidly all over the world. Just after 2 days of getting admitted into Stanford University, he left his Ph.D. to start a software company called Zip2.

Zip2

Musk along with his brother Kimbal founded Zip2, a software company. It provided the internet city guide. He sold this company to Compaq Computer Corporation in 1999 for $307 million in cash and $34 million in stock options. His 7% share made him $22 million.

PayPal

After selling Zip2, Musk and his brother Kimbal used this money to form an online financial services and payments company by the name X.com which later that year was changed into “PayPal”.

Again, Musk sold PayPal to eBay for 1.5 Billion Dollars in October 2002. This time he earned $165 million from his 11% share in the stocks.

SpaceX

Using $100 million, Musk founded SpaceX or Space Exploration Technologies intending to develop space launch vehicles to explore space and enable colonization of Mars by reducing the cost of space journey. The company manufactured a series of such vehicles by the name of “falcon”. The first 2 rockets launched by SpaceX were Falcon 1 and Falcon 9 while the first spacecraft was “Dragon”.

In 2006, NASA made a contract with SpaceX to continue developing its Falcon 9 rocket and Dragon spacecraft with a plan to transport cargo and later astronauts to international space stations.

In September 2008, SpaceX launched its first rocket Falcon 1, and became the first-ever company to launch a privately funded vehicle into space for putting a satellite into Earth’s orbit.

On May 25, 2012, SpaceX launched its Dragon vehicle making it the first-ever industrial company to berth a vehicle into an International space station.

A ground-breaking event happened when SpaceX landed its first stage of Falcon rockets back to earth on December 22, 2015, rendering space travel as a low-cost journey by making the rockets reusable.

Now recently SpaceX has launched 60 Starlink Satellites raising $1 billion of the company’s founding.

As of May 31, 2019, SpaceX has a net worth of $33.1 Billion.

Tesla, Inc.

Initially known as Tesla Motors, Inc. this company was formed in 2003 and Musk is the CEO, product architect, and co-founder of the company. Situated in California Tesla specializes in manufacturing electric cars. As of 2019, Tesla is selling Model X, Model S, and Model 3 cars.

As of 2018, Tesla has produced 245,162 vehicles and has a net worth of $40.9 Billion right now.

Elon Musk has not received a single paycheck from tesla refusing his 56,000 dollars of minimum salary per year. He said that he would only take income from the company once it has reached $100 billion and if that happens, it would make Elon musk the richest person in the world crossing Jeff Bezos.