Elon Musk, a business tycoon and investor, is one of the richest people on the planet. Musk has transformed the inconceivable into a reality with a net worth in the billions and savvy acquisitions of businesses that are setting new standards for the global economy. Know about Elon Musk’s networth and more.
With a net worth of USD 223 billion, the CEO of Tesla and SpaceX surpassed legendary businessmen like Bill Gates, Jeff Bezos, Mark Zuckerberg, and Warren Buffett to claim the top place in the 2021 Bloomberg Billionaires Index.
However, on December 13, 2022, Musk’s wealth fell to USD 164 billion, and Bernard Arnault, the CEO, and chairman of LVMH, the greatest group of luxury brands in the world, which includes Louis Vuitton, Celine, and Tag Heuer, assumed the top job.
Elon Musk has displayed a visionary approach throughout his professional life, pushing old norms and pursuing unique solutions to hard challenges.
His unwavering commitment to developing technology plus sustainability has elevated him to prominence in the fields of exploration of space, renewable energy, as well as transportation.
Do you want to know how Elon Musk got his start and which other businesses he has backed? To learn more, keep reading.
Elon Musk’s Formative Years
Elon Musk, the enigmatic billionaire and visionary entrepreneur, emerged from humble beginnings to become one of the most influential figures of our time.
Born on June 28, 1971, in Pretoria, South Africa, Musk’s early life was marked by curiosity, determination, and an insatiable appetite for knowledge.
He enrolled at Queen’s University in Ontario but transferred to the University of Pennsylvania in 1992 to pursue his interests in economics and physics.
He then registered in a course on physics at Stanford University, however the subject was unable to capture his interest, which had been previously piqued by the internet’s ever-expanding boundaries.
Elon Musk established Zip2 in 1995, which provided maps and directories for digital publications. Compaq, a computer manufacturer, bought the company four years afterwards for 307 million US dollars.
Musk then founded X.com, a provider of financial services and an online payment system that became PayPal. The American e-commerce business eBay purchased PayPal in 2002 for USD 1.5 billion.
After that, he was unable to turn around. The modern world is a witness.
A Comprehensive List Of Companies Owned By Elon Musk
Twitter is a microblogging and social networking service platform where users may publish and communicate. It was launched in 2006.
The term “tweets” refers to user-posted communications. Jack Dorsey established Twitter, which is headquartered in San Francisco, California.
In all, there are about 25 offices. The character limit was first set at 140 and then raised to 280 in 2017. With his most recent acquisition, Elon Musk has added Twitter, a company with 400 million active users, to his portfolio of businesses.
The most valuable automobile firm in the world, Tesla Inc., is located in Austin, Texas, and has a market worth of more than $1 trillion.
The renewable energy firm builds electric automobiles and trucks in addition to designing them.
Additionally, it manufactures solar panels, solar roof tiles, and battery energy storage on a large scale and at home. Martin Eberhard and Marc Tarpenning established Tesla Motors in the year 2003, which later became known as Tesla.
Space Exploration Technologies Corp is a communications corporation as well as supplier of space transportation services. is a $100 billion private company.
Elon Musk established it in the year 2002 with the goal of significantly lowering the price of space travel in order to open the door for the colonization of Mars.
The Cargo Dragon, Starlink communications satellites, Falcon 9 and Falcon Heavy launch vehicles, as well as several rocket engines, are all produced by SpaceX.
In 2001, Musk became associated with the organization Mars Society after reading about plans to build a greenhouse for plants on Mars.
A neurotechnology startup called Neuralink Corporation is working to create detachable brain-machine interfaces (BMIs). Founded in 2016, this San Francisco-based business has Elon Musk as a co-founder.
5. The Boring Company
Elon Musk launched The Boring Company (TBC), a company that offers structures as well as tunnel construction services. Its present and future plans are solely for inner-city transportation systems.
The Boring Company was established to find a solution to the problem of traffic in major American cities. It finished two loop tunnels in Las Vegas. The projects are at various testing, debate, and planning stages.
Elon Musk, Sam Altman, and others created OpenAI in San Francisco in 2015 with a commitment of US$1 billion. The non-profit OpenAI Inc. is the parent company of the for-profit OpenAI LP, which together make up OpenAI.
Microsoft made a $1 billion investment in OpenAI LP in 2019. Sam Altman, 37, is the CEO of OpenAI at the moment.
7. X.Com & PayPal
Elon Musk, Harris Fricker, Ed Ho, as well as Christopher Payne, co-founded the online bank X.com in the year 1999.
As a result of Musk allegedly being drawn to Confinity by its simple payment mechanism, X.com and rival Confinity Inc. combined the next year.
In Dec 1998, Max Levchin, Peter Thiel, as well as Luke Nosek founded Confinity. The merging company’s name was changed to PayPal following a merger with X.com.
Then, shortly after PayPal’s first public offering (IPO), eBay purchased PayPal for $1.5 billion, and in 2015, PayPal was split out and established as a stand-alone business.
Mind-Blowing Net Worth Of The Tech Titan
Musk’s firm Tesla has made great progress. Tesla’s market worth is more than the market valuation of other automakers.
Despite his wealth, he is said to make nearly no income taxes with regard to certain reports. In 2004, Elon Musk founded the Tesla electric automobile firm.
Elon Musk, the CEO of Tesla Inc. as well as the world’s richest individual, had his net worth grow by $96.6 billion from Jan to June 2023.
Musk’s hot streak kept going in July, with Tesla shares rising by 6.9 percent on Monday, boosting his overall net worth by $13 billion. His current net worth has emerged as $247 billion.
Elon laid the groundwork for this vehicle by predicting that everything would be electric in the future. Elon Musk began his space exploration because he thought that in the near future, humanity would dwell on other planets.
He intends to establish his base on Mars, and the program’s name was provided as Space.