What is Elon Musk Net Worth?
Whether you’re looking to invest in Elon Musk’s SpaceX, Tesla or Neuralink, you might be wondering how much money he is worth. The answer can depend on a number of factors. Here are a few of them:
Tesla
Founder of SpaceX and PayPal, Elon Musk has accumulated a net worth of more than $251 billion. His fortune is primarily derived from his shares in SpaceX and Tesla. He has also built up wealth in AI, space, and other tech ventures.
When he was a child, Musk taught himself computer programming. At age 12, he sold his first software. He later sold a video game called Blaster. He later sold Zip2, a computer program geared towards the publishing industry. He later sold Zip2 to Compaq for $307 million. He later reinvested some of the proceeds to start X.com. In 2000, X.com merged with Confinity to become PayPal.
Elon Musk has been married three times. He is also romantically involved with Canadian musician Grimes. Elon and Grimes welcomed a baby boy in May 2020, and will have their second child via surrogate in December 2021.
Elon Musk is the biggest shareholder of Tesla and SpaceX. He owns about 48 percent of the company. His shares are worth about $127 billion. He has pledged a majority of his shares as collateral for loans. He is also a member of the Tesla board. He has also joined Warren Buffett’s Giving Pledge. He is expected to receive a base salary of $56,380.
Musk has been accused of spreading himself too thin. He recently testified in court in response to a shareholder lawsuit. The lawsuit compared his pay package to the gross domestic product of Delaware, a state with a GDP of a few billion dollars more than Musk’s package.
Musk is also expected to receive a bonus plan tied to company market cap milestones. Each “target” unlocks a new set of incentives. He would receive a first tranche of options when the company reaches a $100 billion market cap. He would then receive another tranche when the company increases its market cap by $50 billion. The bonuses are awarded in 12-tranches over a decade.
Space X
Besides founding SpaceX, Elon Musk has made his mark in many other areas. He’s been a part of six other companies, and owns a quarter of Tesla, and a tenth of Twitter. He has a passion for technology, and wears many hats. He hopes to solve the climate change problem and artificial intelligence threat. In addition, Elon Musk has built a vast fortune that he uses to fund his many business ventures.
Elon Musk’s net worth has been pushed into stratospheric territory by the increase in the value of his shares in Tesla. His shares have risen to close to $900, making him one of the richest men on the planet.
His stake in SpaceX has added $22 billion to his pre-tax wealth. His net worth is around $266 billion. He isn’t a trillionaire yet, but his bets are making him the richest private citizen on the planet.
Elon Musk owns a quarter of Tesla, but his net worth is closely tied to the value of his stock. If the shares rise in price, his wealth will increase, and if they fall, his wealth will fall.
Musk also owns a minority stake in Twitter, and has made a bid to buy the company, but it’s fallen short. He still owns about $3 billion of the company’s shares.
Elon Musk’s other company, the Boring Company, aims to build world-class tunnels that will help reduce traffic. He also has a stake in OpenAI, a company that uses artificial intelligence to improve self-driving cars. He has given money to the Wikimedia Foundation and the Future of Life Institute.
Elon Musk’s net worth is made up of a handful of business ventures, but the largest part is the value of his shares in Tesla. His rocket company is now worth over $100 billion, and he owns a fourth of it.
SolarCity
During the 10-day SolarCity lawsuit trial, Elon Musk testified. Musk said the acquisition of SolarCity was part of a long-term plan to create a sustainable source of power. He claimed that the deal was not a bailout, as some analysts claimed.
Elon Musk, the Tesla CEO, is the largest shareholder of SolarCity. He owned 22 percent of the company when Tesla purchased it. He has said he is committed to seeing the merger through.
Before the SolarCity acquisition, the company was ranked number one in the US for residential solar installs. Its business model was door-to-door sales of leased systems. It also installed solar panels for commercial customers. It also had a US panel manufacturing plant in Buffalo, New York.
Before the acquisition, the company had $3.2 billion in debt. It had over $1.5 billion in debt by the time it was acquired by Tesla. The company was burning cash at a prodigious rate, and executives said that the company would need to cut costs in the coming years.
The company’s market cap fell by about 50% in the year before the acquisition. It was already in debt and it had lost almost $820 million in 2016. Several analysts have said the deal was a bailout. But Tesla’s CEO says the acquisition was part of a master plan to transform the company into a vertically integrated firm.
The lawsuit also claimed that Musk forced Tesla’s directors to back off from financial obligations and bow to his demands. Musk allegedly forced the company to pay more for the acquisition. But a Delaware judge said it wasn’t illegal.
The suit also alleged that Musk made false claims about SolarCity’s financial health. Musk claimed that SolarCity could not raise capital without the acquisition.
Physic approach to analysis
Among the world’s most famous billionaires, Elon Musk has a unique approach to his business. He makes his money in a different way than the other billionaires, and his business skills are legendary. However, there have been some criticisms over his wealth.
Elon Musk is the founder of SpaceX and the CEO of Tesla Motors. He was named the TIME Person of the Year in 2021, and is currently the richest private citizen on Earth. He is estimated to be worth about $266 billion.
Musk has had a lot of trouble maintaining a low profile. He is often on the front lines of debate about the “billionaire tax.” He is also the subject of a lawsuit for fraud in a Tesla IPO.
Elon Musk’s net worth has fluctuated based on the market price of Tesla stock. He has owned a healthy chunk of the company, but his personal investments have accounted for about 10% of his total net worth.
In addition to his business ventures, Musk has invested in a variety of successful projects. PayPal was one of those projects. He was also a founder of Zip2. He started the company with his brother Kimbal and sold it to Compaq Computers in 1999 for $307 million. He then used the money to launch X.com, which later became PayPal.
Elon Musk has a quirky personality. He was known for his ability to overcome complexity, but he also has a lack of social skills. He has had trouble keeping his personal life private. He has also been criticized for being a big spender. He owns several mansions in Los Angeles, but he has little time for them.
Elon Musk has a knack for making bets. He has been known to bet on everything from electric cars to high-tech flamethrowers. His bets have paid off, and his fortune has soared. He’s overtaken Amazon founder Jeff Bezos as the world’s richest person.
Taxes
Earlier this month, Tesla CEO Elon Musk announced he was paying more taxes than the entire state of Massachusetts. He also tweeted about it, and it sparked a lot of debate online. In fact, this could be one of the biggest single year tax bills in history.
Musk, whose companies include Space Ex and Tesla, has been trolling advocates for a fairer tax system lately. He has also ventured into the underground tunneling business. He is also working on hyperloops, ultra-high-speed ground transportation systems.
Assuming he sells all of his stock options in the next few years, Musk will have to pay billions in taxes. According to a recent report, he could end up paying $15 billion in 2021. When you add in state taxes, the number could rise to $12 billion.
However, the real cost may be far more than that. Musk will also have to pay taxes on his unrealized capital gains. For example, he sold a small portion of his Tesla shares earlier this year, which probably benefited him in exchange for early investments. These were probably the most tax-effective, as he would have received a lower capital gains rate.
Musk reportedly paid a measly $593 million in taxes in 2016, despite his high income. In addition to his earnings from Tesla, Musk also has options to purchase 22.9 million shares in August of 2022. His options cost him $142.6 million.
He is likely not paying federal income taxes on his earnings until he sells his assets, though. He also hasn’t been taking salary from the company, and he doesn’t receive cash bonuses. In fact, he has been using the company’s stock options as collateral for loans.
