In Pretoria, South Africa, Elon Musk was born on June 28, 1971. Musk learned to program on his first computer when he was ten years old. He sold his first piece of software when he was 12 years old, Blaster, a game he designed. He traveled to Canada when he was 17 years old to attend Queen’s University, but he left in 1992 to attend the University of Pennsylvania to study business and physics. Musk earned a bachelor’s degree in economics before going on to acquire a master’s degree in physics and a Ph.D. in energy physics. He did, however, drop out of Stanford University to join the internet boom.
Personal Life
Elon Musk has been married three times, twice to actress Talulah Riley and once to a different lady. From 2000 until 2008, he was married to Justine Wilson, a Canadian author. They have a total of five children together. He’s also dated actress Amber Heard and singer Grimes from Canada. Grimes and Elon welcomed a son named X A-Xii into the world in May 2020.
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Real Estate
Elon once had a real estate portfolio worth $100 million in California alone. He still owns a 100-year-old 16,000-square-foot home on roughly 50 acres in the Northern California hamlet of Hillsborough. He paid $23.364 million in 2017 for this house.
He owned six mansions in the Bel-Air district of Los Angeles at one time in Southern California. In 2012, he bought a 20,000-square-foot house for $17 million, followed by a 7,000-square-foot house for $20 million in 2015, and a 9,300-square-foot house for $24.25 million in 2016. Elon startled the world in 2020 when he announced his decision to sell everything he has, starting with his Los Angeles mansions. He followed through on his promise and sold each property. In December 2020, he sold four houses to a single buyer.
Elon Musk’s Net Worth After Buying Twitter
Elon Musk is a businessman, entrepreneur, and investor who was born in South Africa. Elon Musk’s net worth is estimated to be in the billions of dollars. He is best recognized for being the CEO and CTO of SpaceX, CEO and chief product architect of Tesla Motors, and chairman of SolarCity, though he wears numerous roles and is continually topping his newest project. He is both the world’s and modern history’s richest individual.
Listen, I can’t do miracles ok pic.twitter.com/z7dvLMUXy8
— Elon Musk (@elonmusk) April 28, 2022
Elon Musk controls around 24% of Tesla’s outstanding stock and 43% of privately held SpaceX as of this writing. Tesla’s market capitalization first surpassed $1 trillion in October 2021. In the same month, SpaceX announced a $100 billion funding round. Elon’s net worth teetered for the first time at around $300 billion at this moment.
Success
Zip2 Corporation, Musk’s first business, was an online city guide. Zip2 was bought for $307 million in cash and $34 million in stock options by a division of Compaq Computer in 1999. Musk co-founded X.com,
online financial services, and payments startup, in 1999 as well. The next year, an X.com acquisition resulted in the formation of PayPal, which was purchased by eBay for $1.5 billion in stock in 2002.
Musk established his third business, Space Exploration Technologies Corporation (SpaceX), in 2002 with the goal of developing commercial spacecraft. By 2008, SpaceX had established itself, and NASA had awarded it a contract to transport cargo to the International Space Station, with ambitions to transport astronauts in the future.
Next up was Tesla Motors, an automaker dedicated to mass-market electric vehicles that are both affordable and reliable. Martin Eberhard and Marc Tarpenning founded Tesla in the year 2003. The company’s earliest workers, Elon, Ian Wright, and J.B. Straubel, were recognized co-founders retrospectively.
Tesla Motors raised $226 million in its initial public offering (IPO) in June 2010, with Daimler taking a stake in the company and a strategic relationship with Toyota. Musk and SpaceX made history in 2012 when they sent an unmanned capsule into space aboard their Falcon 9 rocket. In 2013, he unveiled an idea for the Hyperloop, a novel mode of transportation that would allow commuters to travel between major cities at speeds exceeding 700 mph. The Hyperloop, unlike railroads, would carry passengers via tubes. Musk estimates that building, testing, and launching the Hyperloop will take 7 to 10 years.
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Details on Elon Musk’s Net Worth
Elon Musk owns 43% of SpaceX and 24% of Tesla, Twitter 100% at the time of this writing.
Musk admitted in a legal deposition in 2019 that he is cash-strapped, with Tesla and SpaceX stock accounting for 99 percent of his personal worth. Musk’s starting compensation at Tesla is $56,380, according to the lawsuit. Almost every year, he declines the compensation. Musk owed Morgan Stanley and Goldman Sachs a total of $500 million at the time of the lawsuit. Home mortgage debt accounted for roughly $60 million of his Morgan Stanley obligations. Since then, he’s sold most of his properties and paid off his mortgage.
To create SpaceX, he is said to have used up all of his liquid funds from prior business sales.