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| Elon Musk Net Worth 2021: Income, Career, Assets & Biography |
Have you ever wondered what makes Elon Musk net worth? Have questions like how much has Elon Musk invested to become a billionaire puzzled you? Well, we have been dealing with the same questions lately and have finally got to the answer as to what is the net worth of Elon Musk in 2021.
The Forbes 400 lists out the definition of net worth of Elon Musk based on their wealth, profiling and ranking and gives us a definite reason and number of the richest people of the world. Counted as one of the wealthiest people, it is often asked how it feels like to earn such colossal wealth. If you want a clear affluence of these billionaires, you should read further.
Not born with a silver spoon, about 90 percent of these billionaires have had humble beginnings and are known for their gradual growth transitioning from lucrative jobs to a business serving them riches. Even during the economic downturns, these billionaires have managed their money in the best way to be able to become a figure where common man’s discussion involves their net worth.
Super-glued to the headlines, the Elon Musk net worth is also determined by their source and philanthropy score. Mind you, the Elon Musk net worth is not increased by just running one business but by investing in many others along the way. For instance, in 2002, Jeff Bezos founded Blue Origin (after Amazon), which is a human spaceflight startup that he had long expressed his interest in.
Who is Elon Musk?
Elon Reeve Musk FRS (/ˈiːlɒn/ EE-lon; born June 28, 1971) is a business magnate, industrial designer, and engineer. He is the founder, CEO, CTO, and chief designer of SpaceX; early investor, CEO, and product architect of Tesla, Inc.; founder of The Boring Company; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI. A centibillionaire, Musk is one of the richest people in the world.[c]
Musk was born to a Canadian mother and South African father and raised in Pretoria, South Africa. He briefly attended the University of Pretoria before moving to Canada aged 17 to attend Queen's University. He transferred to the University of Pennsylvania two years later, where he received dual bachelor's degrees in economics and physics. He moved to California in 1995 to attend Stanford University but decided instead to pursue a business career, co-founding the web software company Zip2 with his brother Kimbal. The startup was acquired by Compaq for $307 million in 1999. Musk co-founded online bank X.com that same year, which merged with Confinity in 2000 to form the company PayPal and was subsequently bought by eBay in 2002 for $1.5 billion.
In 2002, Musk founded SpaceX, an aerospace manufacturer and space transport services company, of which he is CEO, CTO, and lead designer. In 2004, he joined electric vehicle manufacturer Tesla Motors, Inc. (now Tesla, Inc.) as chairman and product architect, becoming its CEO in 2008. In 2006, he helped create SolarCity, a solar energy services company and current Tesla subsidiary. In 2015, he co-founded OpenAI, a nonprofit research company that promotes friendly artificial intelligence. In 2016, he co-founded Neuralink, a neurotechnology company focused on developing brain–computer interfaces, and founded The Boring Company, a tunnel construction company. Musk has also proposed the Hyperloop, a high-speed vactrain transportation system.
Musk has been the subject of criticism due to unorthodox or unscientific stances and highly publicized controversies. In 2018, he was sued for defamation by a diver who advised in the Tham Luang cave rescue; a California jury ruled in favor of Musk. Also, in 2018, the US Securities and Exchange Commission (SEC) sued him for falsely tweeting that he had secured funding for a private takeover of Tesla. He settled with the SEC, temporarily stepping down from his chairmanship and accepting limitations on his Twitter usage. Musk has spread misinformation about the COVID-19 pandemic and has received criticism from experts for his other views on such matters as artificial intelligence and public transport.
Elon Musk Net Worth Today / Real Time
- Elon Musk is working to revolutionize transportation both on Earth, through electric car maker Tesla - and in space, via rocket producer SpaceX.
- He owns 21% of Tesla but has pledged more than half his stake as collateral for loans; Forbes has discounted his stake to take the loans into account.
- He stepped down as chairman in 2018, after making alleged ""false statements"" about a plan to take Tesla private, triggering an SEC probe.
- SpaceX, Musk's rocket company, is now valued at $46 billion.
- He grew up in South Africa, then immigrated to Canada at age 17. He landed in the U.S. as a transfer student to the University of Pennsylvania.
Elon Musk Net Worth 2021 in Different Currencies
- Elon Musk Net Worth 2021 in Dollar: $163.8B
- Elon Musk Net Worth in Australian Dollar: 215.21B Australian Dollar
- Elon Musk Net Worth 2021 in Indian Rupees: 12.19 Trillion INR
- Elon Musk Net Worth in Rands: 2.4 Trillion South African Rands
- Elon Musk Net Worth in Millions: $164B
- Elon Musk Net Worth in Billions: $164000M
Elon Musk Net Worth Over the Last 5 Years
Elon Musk net worth and wealth has changed drastically over the last 5 years. We have accumulated the data of net worth of Elon Musk for the year 2017, 2018, 2019, 2020 & 2021 below:
- Elon Musk Net Worth in 2021: $163.8B
- Elon Musk Net Worth in 2020: $140B
- Elon Musk Net Worth in 2019: $115B
- Elon Musk Net Worth in 2018: $115B
- Elon Musk Net Worth in 2017: $20.8B
Elon Musk Assets
House: Elon Musk Resides in Los Angeles. Elon Musk bought this luxury home in the year 2016. The estimated value of this Real Estate Property is around 25 Million USD.
Cars: The Car collection of Elon Musk is quite Large. Elon Musk owns few of the best luxury cars in the world. The Car brands owned by Elon Musk include Ferrari, Bentley, Jaguar, Rolls Royce and Tesla.
Elon Musk Income / Investments
Business Career
Zip2
In 1995, Musk, his brother Kimbal, and Greg Kouri founded web software company Zip2 with funds from angel investors. They housed the venture at a small rented office in Palo Alto. The company developed and marketed an Internet city guide for the newspaper publishing industry, with maps, directions, and yellow pages. Musk says that before the company became successful, he could not afford an apartment and instead slept on the office couch and showered at the YMCA. They could only afford one computer, and, according to Musk, """"The website was up during the day and I was coding it at night, seven days a week, all the time."""" Musk brothers obtained contracts with The New York Times and the Chicago Tribune, and persuaded the board of directors to abandon plans for a merger with CitySearch. Musk's attempts to become CEO, a position held by its Chairman Rich Sorkin, were thwarted by the board. Compaq acquired Zip2 for $307 million in cash in February 1999. Musk received $22 million for his 7 percent share from the sale.
X.com and PayPal
In 1999, Musk co-founded X.com, an online financial services and e-mail payment company. The startup was one of the first online banks to be federally insured, and, within its initial months, over 200,000 customers joined the service. The company's investors saw Musk as inexperienced and had him replaced with Intuit CEO Bill Harris by the end of the year. The following year, X.com merged with online bank Confinity to prevent unnecessary competition. Founded by Max Levchin and Peter Thiel, Confinity had its own money-transfer service, PayPal, which was more popular than X.com's service. Within the merged company, Musk returned as CEO. Musk's preference for Microsoft software over Linux created a rift in the company and caused Thiel to resign. Due to resulting technological issues and lack of a cohesive business model, the board ousted Musk and replaced him with Thiel in September 2000. Under Thiel, the company focused on the PayPal service and was renamed PayPal in 2001. In 2002, PayPal was acquired by eBay for $1.5 billion in stock, of which Musk received over $100 million. Before its sale, Musk, who was the company's largest shareholder, owned 11.7% of PayPal's shares.
In 2017, Musk purchased the domain X.com from PayPal for an undisclosed amount, explaining it has sentimental value.
SpaceX
In 2001, Musk conceived Mars Oasis: a concept to build a miniature greenhouse on Mars that would try to grow food crops and reawaken public interest in space exploration. In October 2001, Musk traveled with a group to Moscow to buy refurbished Intercontinental ballistic missiles (ICBMs) that could send the greenhouse payloads into space. He met with companies such as NPO Lavochkin and Kosmotras; however, Musk was seen as a novice and was even spat on by one of the Russian chief designers. The group returned to the United States empty-handed. In February 2002, the group returned to Russia to look for three ICBMs. They had another meeting with Kosmotras and were offered one rocket for $8 million, which Musk rejected. Musk instead decided to start a company that could build affordable rockets. With $100 million of his early fortune, Musk founded Space Exploration Technologies Corp., traded as SpaceX, in May 2002.
After three failed launches, SpaceX succeeded in launching the Falcon 1 in 2008. It was the first private liquid-fuel rocket to reach Earth orbit. Later that year, SpaceX received a $1.6 billion Commercial Resupply Services program contract for 12 flights of its Falcon 9rocket and Dragon spacecraft to the International Space Station, replacing the Space Shuttle after its 2011 retirement. In 2012, the Dragon vehicle berthed with the ISS, a first for a private enterprise. Working towards its goal of reusable rockets, in 2015, SpaceX successfully landed the first stage of a Falcon 9. Landings were later achieved on an autonomous spaceport drone ship, an ocean-based recovery platform. In 2018, SpaceX launched the Falcon Heavy; the inaugural mission carried a Tesla Roadster as a dummy payload. In 2017, SpaceX unveiled its next-generation launch vehicle and spacecraft system, Big Falcon Rocket (BFR), which would support all SpaceX launch service provider capabilities. In 2018, SpaceX announced a planned 2023 lunar circumnavigation mission, a private flight called dearMoon project. In 2020, SpaceX launched its first manned flight, the Demo-2, becoming the first private company to place a person into orbit and dock a crewed space-craft with the ISS.
SpaceX began development of the Starlink constellation of low Earth orbit satellites in 2015 to provide satellite Internet access,[81] with the first two prototype satellites launched in February 2018. A second set of test satellites and the first large deployment of a piece of the constellation occurred in May 2019, when the first 60 operational satellites were launched.[82] The total cost of the decade-long project to design, build, and deploy the constellation is estimated by SpaceX to be about $10 billion.
Tesla
Tesla, Inc. (originally Tesla Motors) was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning, who financed the company until the Series A round of funding. Both men played active roles in the company's early development prior to Musk's involvement. Musk led the Series A round of investment in 2004, joining Tesla's board of directors as its chairman. Musk took an active role within the company and oversaw Roadster product design but was not deeply involved in day-to-day business operations. Following a series of escalating conflicts in 2007 and the 2008 financial crisis, Eberhard was ousted from the firm. Musk assumed leadership of the company as CEO and product architect in 2008. A 2009 lawsuit settlement with Eberhard designated Musk as a Tesla co-founder, along with Tarpenning and two others. As of 2019, Musk is the longest tenured CEO of any automotive manufacturer globally.
Tesla first built an electric sports car, the Roadster, in 2008. With sales of about 2,500 vehicles, it was the first serial productionall-electric car to use lithium-ion battery cells.[96] Tesla began delivery of its four-door Model S sedan in 2012; a cross-over, the Model X was launched in 2015. A mass market sedan, the Model 3 was released in 2017. As of March 2020, it is the world's best-selling electric car, with more than 500,000 units delivered. A fifth vehicle, the Model Y crossover, was launched in 2020. The Cybertruck, an all-electric pickup truck, was unveiled in 2019. Under Musk, Tesla has also constructed multiple lithium-ion battery and electric vehicle subassembly factories, such as Gigafactory 1 in Nevada and Gigafactory 3 in China.
Since its initial public offering in 2010, Tesla stock has risen significantly; it became the most valuable carmaker in summer 2020. It entered the S&P 500 later that year.
SEC lawsuit
In September 2018, Musk was sued by the US Securities and Exchange Commission for a tweet claiming funding had been secured for potentially taking Tesla private The lawsuit claimed verbal discussions Musk held with foreign investors in July 2018 did not confirm key deal terms and thus characterized the tweet as false, misleading, and damaging to investors, and sought to bar Musk from serving as CEO of publicly traded companies. Musk called the allegations unjustified and claimed he had never compromised his integrity. Two days later, Musk settled with the SEC, without admitting or denying the SEC's allegations. As a result, Musk and Tesla were fined $20 million each, and Musk was forced to step down for three years as Tesla chairman but was able to remain as CEO.
Musk has stated in interviews he does not regret the tweet that triggered the SEC investigation. On February 19, 2019, Musk stated in a tweet that Tesla would build half a million cars in 2019. The SEC reacted to Musk's tweet by filing in court, initially asking the court to hold him in contempt for violating the terms of a settlement agreement with such a tweet, which was disputed by Musk. This was eventually settled by a joint agreement between Musk and the SEC clarifying the previous agreement details. The agreement included a list of topics that Musk would need preclearance before tweeting about. In May 2020, a judge prevented a lawsuit from proceeding that claimed a tweet by Musk regarding Tesla stock price (""""too high imo"""") violated the agreement.
SolarCity
Musk provided the initial concept and financial capital for SolarCity, which his cousins Lyndon and Peter Rive co-founded in 2006.[128] By 2013, SolarCity was the second largest provider of solar power systems in the United States. In 2014, Musk committed to building a SolarCity advanced production facility in Buffalo, New York, triple the size of the largest solar plant in the United States. Construction on the factory started in 2014 and was completed in 2017. It operated as a joint venture with Panasonic until early 2020 when Panasonic departed.
Tesla acquired SolarCity for over $2 billion in 2016 and converted it into its solar division; the announcement of the deal resulted in a more than 10% drop in Tesla's stock price. At the time, SolarCity was facing liquidity issues; however, Tesla shareholders were not informed.[133] Consequently, multiple shareholder groups have filed a lawsuit against Musk and Tesla's directors, claiming that the purchase of SolarCity was done solely to benefit Musk and came at the expense of Tesla and its shareholders. During a June 2019 court deposition, Musk acknowledged that the company reallocated every possible employee from the solar division to work on the Model 3, and, according to Musk, """"as a result, solar suffered."""" This had not previously been disclosed to shareholders. Court documents unsealed in 2019 have confirmed that Musk was also aware of the company's liquidity issues. Tesla directors settled the lawsuit in January 2020, leaving Musk the sole remaining defendant.
Neuralink
In 2016, Musk co-founded Neuralink, a neurotechnology startup company to integrate the human brain with AI. Neuralink's purpose is to create devices that are embedded in the human brain to facilitate the merging of the brain with machines. The devices will also reconcile with the latest improvements in artificial intelligence to stay updated. Such improvements could enhance memory or allow the devices to communicate with software more effectively.
At a live demonstration in August 2020, Musk described one of their early devices as """"a Fitbit in your skull"""" which could soon cure paralysis, deafness, blindness, and other disabilities. Many neuroscientists and publications criticized these claims; MIT Technology Review described them as """"highly speculative"""" and """"neuroscience theater"""".
The Boring Company
In 2016, Musk founded The Boring Company to construct tunnels. In early 2017, they began discussions with regulatory bodies and initiated construction of a 30-foot (9.1 m) wide, 50-foot (15 m) long, and 15-foot (4.6 m) deep """"test trench"""" on the premises of SpaceX's offices as it required no permits. A tunnel beneath the Las Vegas Convention Center was completed in early 2020. Local officials have approved further expansions of the tunnel system.
As a merchandising and publicity stunt, The Boring Company sold 2,000 novelty flamethrowers in 2018. The idea was allegedly inspired by the Mel Brooks-directed film Spaceballs (1987), a favorite of Musk's.
Elon Musk Career
Musk graduated from Pretoria Boys High School in South Africa.
Aware it would be easier to enter the United States from Canada, Musk applied for a Canadian passport through his Canadian-born mother.] While awaiting the documentation, he attended the University of Pretoria for five months; this allowed Musk to avoid mandatory service in the South African military. Arriving in Canada in June 1989, Musk failed to locate his great-uncle in Montreal and instead stayed at a youth hostel. He then traveled west to live with a second-cousin in Saskatchewan. He stayed there for a year, working odd jobs at a farm and lumber-mill. In 1990, Musk entered Queen's University in Kingston, Ontario. Two years later, he transferred to the University of Pennsylvania; he graduated in 1997 with a Bachelor of Science (BS) degree in economics from the Wharton School and a Bachelor of Arts (BA) degree in physics.
In 1994, Musk held two internships in Silicon Valley during the summer: at an energy storage startup called Pinnacle Research Institute, which researched electrolytic ultracapacitors for energy storage, and at the Palo Alto-based startup Rocket Science Games. In 1995, Musk was accepted to a Ph.D. program in energy physics/materials science at Stanford University in California. Musk attempted to get a job at Netscape but never received a response to his inquiries. He dropped out of Stanford after two days, deciding instead to join the Internet boom and launch an Internet startup.
Interesting Facts About Elon Musk
- Musk loved “The Hitchhiker’s Guide to the Galaxy,” as a boy and at age 12, he reportedly made a space-themed PC game called 'Blastar' which was sold to a magazine for $500. Credit: Reuters Photo
- By 25, Musk had created Zip2, an online advertising platform, and was a millionaire by age 30 after selling the company to Compaq Computer in 1999
- Musk followed that success with the creation of the online bank, X.com, which was later merged into PayPal which eBay bought in 2002 for $1.5 billion.
- Musk founded SpaceX, also known as Space Exploration Technologies Corp, in 2002. SpaceX is scheduled to launch two crewed flights for NASA in 2021, including one in the spring, and four cargo refueling missions over the next 15 months.
- Due to lack of funding, Musk invested his own money for the development of SpaceX rockets.
- After setting ambitious goals for the model\'s ramp-up, Musk hit a rough spot in 2018 as Tesla Motors, where he became a major funder, missed targets while burning through cash.
Conclusion
The more fascinating fact while reading about the net worth of these affluences is that now more women are part of the listing and in the past few years, they have grown by 46 per cent which is more than the percentage of males.
Now with the rising net worth of these guys, the only question grappling us is, “who is going to be the first trillionaire?” Well, the answer to this could be deduced based on the net worth of top billionaires like Jeff Bezos or Elon Musk who have pretty impressive track records and could be based on taking the average percentage of yearly growth over the past five years and applying it to future years.
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