Elon Musk became well-known by starting some of the most innovative tech companies in the world, such as Tesla, which makes electric cars, and SpaceX, which explores space. Bloomberg says that Musk is the richest person in the world right now.
But Musk’s ways of doing business are unusual and sometimes cause trouble. In 2022, he agreed to pay $44 billion to buy the social media company Twitter. He later backed out of the deal for reasons that some experts say don’t make sense. The deal is stuck in court right now, and the trial is set for October 2022.
Here’s more about Musk that you should know, like how he got started and what his biggest investments are now.
Elon Musk: Net Worth 2022
Elon Musk is a Canadian-American businessman, inventor, and investor who was born in South Africa. The net worth of Elon Musk is $240 billion as of 2022. Though he wears multiple hats and is continually outdoing his most recent initiative, he is best recognized for his roles as CEO and CTO of SpaceX, CEO and principal product architect of Tesla Motors, and chairman of SolarCity. He holds the title for being the wealthiest individual in the world and in modern history.
Ellon Musk: Early Life
Elon Reeve Musk was born on June 28, 1971, in Pretoria, South Africa. Errol, his father, is an electromechanical engineer, and Maye, his mother, is a model. He has two siblings: a brother named Kimbal and a sister named Tosca.
Elon’s father allegedly once owned an emerald mine in Zambia, and he grew up in a wealthy family as a result. After his parents divorced in 1980, he moved in with his father. He began learning computer programming at the age of 12. He graduated from Pretoria Boys High School in South Africa.
He moved to Canada with his mother in 1990 to attend Queen’s University. In 1997, he transferred to the University of Pennsylvania and earned degrees in physics and economics. He had been accepted for a Ph.D. program at Stanford University two years prior, but he left to start an internet business.
Elon Musk: Personal Life
Musk has eight children from two marriages. His most recent relationship was with singer Grimes, with whom he has two children: X A-12, a son, and Exa Dark Siderael, a daughter.
Musk married author Justine Wilson for the first time in 2000. Nevada Alexander, their first child, was born in 2002 but died after ten weeks. Griffin and Xavier were twins, and Damian, Saxon, and Kai were triplets. Elon and Justine divorced in 2008, but Elon married Talulah Riley two years later.
They divorced in 2012, remarried the following year, and divorced yet again in 2016. Musk dated Amber Heard for a few months in 2017, and he later began dating musician Grimes in 2018. They had their child in 2020, who was given the unusual name X A-Xii. Elon owns a luxurious home in Texas but occasionally stays in a $50,000 modular mini house in Boca Chica.
Elon Musk: Career Details
Zip2, his first software startup, was acquired for $307 million in 1999.
Musk co-founded X.com, online financial services, and e-mail payment company, in 1999. The startup was one of the first federally insured online banks, and it attracted over 200,000 customers in its first few months of operation.
PayPal was acquired by eBay in 2002 for $1.5 billion in stock, of which Musk received $175.8 million as the largest shareholder with 11.72 percent of the shares.
Musk founded SpaceX in 2002 and is a shareholder in the electric vehicle manufacturer Tesla.
Musk founded The Boring Company in 2016 to build tunnels. Early in 2017, the company began discussions with regulatory bodies and began construction of a “test trench” on the premises of SpaceX’s offices because no permits were required.
Musk successfully purchased the social media network Twitter for $44 billion in April 2022.
Tesla Compensation Plan
In January of 2018, the Tesla board of directors revealed Musk’s remuneration plan, which would ultimately be worth $100 billion. The deal stipulated that Musk would get up to $100 billion in 12-tranches of stock options over a decade. The first tranche of options will be given when Tesla’s market capitalization reaches $100 billion (roughly double the value when the plan was announced). From that point forward, Elon earned another installment if the company’s market capitalization increased by $50 billion.
If he had failed to meet any of the twelve milestones, he would have earned no reward.
How Much Does Elon Musk Make Every Day?
From a money point of view, Elon Musk is doing well. The richest person in the world has made more in a day than the average person does in a lifetime.
Since the NYSE is closed on the weekends, we’ll use a five-day workweek to figure out daily salaries. Musk probably made $23 billion in the first quarter of 2022, which had 69 weekdays. We’ll assume he was paid on holidays. If these things were true, he would have made $333,333,000 per day.