Net Worth

Elon Musk Net Worth in 2020 – Tesla CEO Net Worth

Elon Musk Net Worth in 2020: Elon Musk, the founder and CEO of SpaceX, a product architect of Tesla and the founder of The Boring Company, has a net worth of USD 22.8 billion. He is listed as the 40th-richest person in the world by Forbes. The entrepreneur once said that he won’t be happy until we’ve all escaped from Earth and colonized on Mars. Well, he has the money to do that. As an avid reader, Musk enjoys reading books, listening to music and playing video games and sometimes going crazy on twitter works more. Musk has stated that the goals of SpaceX, SolarCity, and Tesla revolve around his vision to change humanity, world and establishing a human colony on Mars for reducing the risk of human extinction.

Elon Musk is now making headlines with a word that he doesn’t have a lot of cash, though he has SpaceX stock and Tesla stock under his hat, and has an impressive net worth. Diver Vernon Unsworth made a defamation lawsuit on December 4, 2019, against Musk after he called him a “child rapist” and “pedo guy” in public tweets and emails to reporters. Vernon Unsworth could win around $75,000 if he proved that he suffered damages.

The lawsuit revealed that Musk’s base salary at Tesla is $56,380 where 50% of his Tesla shares are pledged as collateral to Morgan Stanley and Goldman. SpaceX CEO has $500 million worth of debt were $209 million worth is owed to Morgan Stanley and $213 million to Goldman Sachs. At least $60 million debt is home mortgage-related of his Morgan Stanley.

Elon Musk Net Worth in 2020

Net worthUSD 22.8 billion (2019)
BornJune 28, 1971
Age48 years
ResidenceLos Angeles, California, United States
OccupationEntrepreneur, investor, engineer, philanthropist
Height1.88 m
Weight75 kg

 

Elon Musk’s Properties

Being the longest-tenured CEO of automotive manufacturer, Elon Musk has diversified cars under his pockets. He paid $920,000 at an auction for the Lotus Esprit submarine car in 2013 which was used in a James Bond movie.

Musk also has two gas-powered cars under his name: Jaguar E-Type Series 1 Roadster and Ford Model T.

Elon Musk Net Worth & Real Estate Holdings

In 2012, CEO purchased a 1.67-acre estate for $17 million which has a home theatre, two-story library, a gym, and 1,000-bottle wine cellar.

According to reports, in the Bel-Air neighbourhood of Los Angeles, Elon Musk owns more than $70 million worth of residential property. His latest home purchase is of worth $ 24 million and is of unfinished state right now.

In California, Elon has at least $100 million worth of real estate under his hat. In the Northern California town of Hillsborough, he owns a 100-year-old worth $23.364 million in 2017 which is 16,000 square-foot villa that sits on nearly 50-acres.

What Contributed To Elon Musk Net Worth?

Being a notorious workaholic, the entrepreneur doesn’t spend cash on lavish vacations, instead, the office and factories are like a home for him. He works 80-90 hours a week according to reports. He’d only taken two weeks off since founding SpaceX in 2015.

Elon Musk Companies

  • In May 2002, Musk founded space transport services company SpaceX (Space Exploration Technologies Corporation) which is an aerospace manufacturer of which he is CEO and a lead designer.

  • In 2006, he inspired the creation of a solar energy services company named as SolarCity, which is now a subsidiary of Tesla and he operated as its chairman.
  • In 2015, Musk co-founded a not for profit research company OpenAI that aims to promote artificial intelligence for human benefit.
  • In July 2016, he co-founded a neurotechnology company Neuralink that focuses on developing brain-computer interfaces.
  • In December 2016, Musk founded an infrastructure and tunnel-construction Company, The Boring Company.

In 1999, Musk earned $22 million when he sold Zip2 for $307 million. He then invested half of his earnings to found an online banking company, X.com which was then merged with its competitors and became PayPal with Musk as the majority shareholder. In October 2002, PayPal was bought by eBay for $1.5 billion and Musk walked away with $180 million.

After the PayPal was sold, Elon Musk went on to found SpaceX and took over Tesla Motors which is now worth around $70 billion according to reports.

According to recent reports, it has been said that if Elon managed to grow Tesla’s market capitalization to $650 billion, Musk has the opportunity to earn out the full $100 billion.

Elon Musk As A Philanthropist

Musk donated US$1 million to a tree-planting initiative led by the YouTube community, ‘#TeamTrees’ in October 2019 and in collaboration with Arbor Day Foundation.

He gifted USD 10 million to the Future of Life Institute to regulate AI with a mind to benefit humanity. He also joined hands with among the richest person in the world to donate the majority of his wealth during his lifetime by signing The Giving Pledge in 2012.

Musk has a foundation under his name which focuses on providing solar-power energy systems in disaster areas. Musk Foundation donated US$250,000 in July 2011 towards a solar power project in a city of Japan which was devastated by a tsunami.

Early Life

CEO Elon Musk was born on June 28, 1971, in Transvaal, South Africa. Maye Musk, his mother is a model and dietitian from Canada and Errol Musk, his father is a South African electromechanical engineer, sailor and pilot. He has a younger sister, Tosca and a younger brother, Kimbal. Musk lived mostly with his father after his parents divorced in 1980 in the suburbs of Pretoria.

Having a keen interest in computer programming, he sold a source code of a video game he created named Blastar to PC and Office Technology for $ 500 at the age of 12.

Source: Pinterest

Elon Musk Education

Elon Musk did his schooling from Bryanston High School and Waterkloof House Preparatory School before graduating from Pretoria Boys High School. At the age of 17, Musk moved to Canada to attend Queen’s University and after 2 years transferred to the University of Pennsylvania.

From the Wharton School, Musk received a Bachelor’s degree in economics and physics from the College of Arts and Sciences. He applied for a PhD in physics and material sciences at Stanford University but dropped out after two days as he was keenly interested in pursuing an entrepreneurial career.

Career

In 1999, Musk with his brother Kimbal co-founded a web software company, Zip2 which was acquired by Compaq for $340 million. Zip2 was started with $28,000 in seed money from their father. Musk then founded an online bank, X.com which merged with Confinity in 2000.

In 1989, Musk moved to Canada and worked in a series of hard labour jobs including cutting logs, shovelling grain, cleaning out the boiler room for $18 an hour which is an impressive wage of that year.

In July 2013, Telsa was incorporated where Elon Musk joined Tesla’s board of directors as its chairman and led the Series A round of investment in 2004.

Musk announced the creation of OpenAI in December 2015 which is a not-for-profit artificial intelligence (AI) research company. The company aims to develop AI which is safe and will benefit humanity. In addition to it, Elon co-founded Neuralink in 2016, the company that focuses on the integration of the human brain with artificial intelligence

Musk appeared on The Joe Rogan Experience podcast in mid-September 2018 where he discussed on various relevant topics for over two hours that has gained the attention of 10 million YouTube views within 5 days. Take a look below!

Related Articles

Back to top button