Elon Musk Net Worth: Career, Assets, Recent Update and More

On June 28, 1971, Elon Musk was born in South Africa, where he currently holds citizenship, along with Canada and the United States. Musk has played a pivotal role in spearheading major technological advancements, particularly in transportation and various other industries, throughout the 21st century. His endeavors have notably contributed to the realization of electric vehicles, subsequently boosting his net worth. Musk’s journey into the tech world began at the age of 12 when he started learning computer programming. Notably, he earned his first significant sum by selling the source code for a video game he developed called Blastar to PC and Office Technology magazine for approximately $500.

Career Highlights of Elon Musk

In 1995, Musk co-founded Zip2 with his brother Kimbal, a company specializing in software for publishing internet content for newspapers. The venture proved successful, culminating in its acquisition by Compaq for about $300 million in 1999. Following this, Musk ventured into the realm of online payments, co-founding X.com, which later evolved into PayPal. eBay acquired PayPal for $1.5 billion in 2002.

In 2004, Musk made significant strides in the automotive industry by heavily investing in Tesla Motors, a company focused on electric cars, energy storage solutions, and solar panels. Tesla’s rise to prominence resulted in the production of several successful models, such as the Tesla Roadster, Model S, Model X, and Model 3. Additionally, Musk co-founded SolarCity in 2006, a company providing services related to solar energy systems, which Tesla acquired for $2.6 billion in 2016.

Musk also serves as the CEO and co-founder of SpaceX, a company renowned for its groundbreaking developments in rocketry and spacecraft technology. SpaceX’s achievements include launching the first privately financed liquid-fueled rocket to the International Space Station and ambitious plans for Mars colonization.

Dependence on Elon Musk’s Net Worth

Elon Musk’s net worth is significantly tied to the success of Tesla, where he remains actively involved. His net worth is estimated to be around $140 billion, a figure that fluctuated from a peak of $340 billion in November 2021. Despite experiencing substantial financial losses, Musk’s primary revenue stream continues to be Tesla, although the company’s stock price witnessed a significant decline in 2022.

Assets Owned by Elon Musk

1. Real Estate: Musk resides in Los Angeles and owns an opulent mansion acquired in 2016, estimated to be worth approximately $25 million.
2. Vehicles: Musk possesses a diverse collection of luxury automobiles, showcasing some of the world’s finest premium brands.
3. Investments: Musk has made substantial investments across various industries, including space exploration, artificial intelligence, electric vehicles, tunnel boring, and solar energy.

Recent Update on Elon Musk

Elon Musk recently made headlines by acquiring Twitter, a move that involved purchasing nearly 9 percent of the company’s shares. Subsequently, Musk made a successful bid to acquire the company, with the transaction valued at $44 billion. Despite initial resistance, negotiations progressed, ultimately leading to an agreement on the acquisition. Currently, Musk boasts approximately 141 million followers on Twitter.