Elon Musk is a South African-born Canadian-American businessman, inventor and investor who has a net worth of $164 billion. Video, The secret mine that hid the Nazis' stolen treasure, Senator vows to sink key Biden spending plan, Explosion derails train in Russian border region, Russia launches missile attacks on Ukraine, Street piano confiscated as public 'break rules', Trump mistrial request denied in NY rape lawsuit, US rock band Aerosmith announce farewell tour, Banana artwork in Seoul museum eaten by visitor, Heavy drinkers told to leave India police force, Father tells how gunman opened fire on Texas home. He is also know for being the CEO and CTO of SpaceX and chairman of SolarCity. Elon Musks net worth plummets by $12.6 billion after wild week Elon Musk Net Worth Elon Musk Net Worth January 19, 2023 by admin [wpcode id=23] January 18, 2023 by admin Age 18 44 Exclude married Race Any color Within three years Elon unlocked all 12 tranches of the compensation plan as Tesla's market cap ultimately zoomed above $1 trillion for the first time in October 2021. The second reason my earlier statement might be considered controversial is because there are several historical figures outside of modern history who were extremely wealthy. In October 2021 Tesla's market cap broke $1 trillion for the first time. On November 24, 2020 Elon's net worth topped $128 billion for the first time. New Twitter feature: Elon Musk opens up earning opportunity for users, calls it a major win-win 2 min read. If he did not achieve any of the 12 tranches, he would have received zero compensation. Elon previously owned $100 million worth of real estate in California alone. The plan called for Musk to receive up to $100 billion in stock options over a decade in 12-tranches. Read about our approach to external linking. Elon along with Ian Wright and J.B. Straubel were the company's first employees and retroactively named co-founders. According to the latest Forbes billionaires list, Musk is the new No. His first venture was a software company called Zip2, which he founded with his brother, Kimbal Musk. He has continued to launch new businesses since then, including SpaceX, his aerospace design and development company, and Tesla Motors, the company behind a range of increasingly popular electric sports cars. How did Elon Musk make his money? Musk began investing in space travel in 2001 when he tried to buy Russian ballistic missiles that he hoped could send payloads into space. Instead, he set out to build his own rockets through his firm SpaceX. Elon Musk says he'll be paying Mind you, his many fans will point out that the somewhat eccentric tycoon has constantly confounded the sceptics who bet that he would go bust. Mr Bezos is also using his personal wealth to fund space exploration, The secret mine that hid the Nazis' stolen treasure. That makes the car company worth more than Toyota, Volkswagen, Hyundai, GM and Ford combined. Every time we write an article about the richest people of all time, someone chimes in over email to complain that we didn't put King Solomon at #1. Market data provided by ICE Data Services. Elon Musk On Monday alone, Musk lost $8.6 billion as Tesla shares plunged 6.8% to $167.87 in New York trading. The Tesla and SpaceX entrepreneur was pushed into the top slot after In an interview with The Daily Beast, Cooperman said of the tax, "I doubt it's legal, and it's stupid.". At a valuation of $46 billion, Elon's 48% stake adds $22 billion in pre-tax wealth to Elon's net worth. Then again, when you have so much money, it may just not matter: Musks net-worth is almost 20 times the entire budget of the county he sued. A guy in 1935 who had $1.5 billion? As of December 29, Musk had a net worth of $277 billion. The surge in Musk's assets comes as lawmakers are considering a billionaires tax that would take a bite out of the wealth of the nation's roughly 700 billionaires. The BBC is not responsible for the content of external sites. Over the last few weeks, Mr Musk has sold around $14bn of Tesla shares, which Mr Willens said was likely to be in part in order to generate cash to satisfy his tax liabilities. : How to Check Your PAN Aadhaar Link Status Online? Musk bought his first computer at the age of 10 and taught himself how to program. Elon Musk Musk says the Hyperloop could take from 7 to 10 years to be built, tested and ready for use. They welcomed a second child via surrogate in December 2021. From changing its blue bird logo to Dogecoin to removing verification badges from several high-profile accounts to restoring some of them later, Twitter has seen a number of rapid changes lately. Mr Bezos has also seen his fortunes rise over the past year. Under the plan, tradable assets such as Tesla's stock in a billionaire's portfolio would be valued annually. That means Elon Musk is $5 billion (plus $1) away from being the richest person ever. Elon Musk's net worth. Other billionaires are also voicing their anger at the idea. A British historian named Ralph Ellis has been studying the legend of King Solomon for over thirty years. We will be keeping an eye on Elon's fortune and we'll let you know if he officially becomes the richest person of all time! In addition, the threat of regulation has meant Amazon's stock has not risen as high as it might otherwise have done. On January 7, 2021 Elon's net worth hit $195 billion. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Mortgage Calculator; Multiple Quotes Tool; Forbes put singer-songwriter Taylor Swifts net worth in 2022 at $570 million. Under current law, a gain is only taxed if it is "realized" when its owner sells the asset and makes a profit. "[Mr Musk] probably felt it would be prudent to generate as much taxable income in 2021 as possible, on the theory that income in 2022 might be taxed at higher rates," he explained. That's an increase of almost $10 billion from the previous day, thanks Did this woman die because her genitals were cut? In 2020, his net worth was $24.6 billion, landing him in 31st place on Forbes s list of billionaires. In total he has 10 children as of this writing. Who Is Eligible for Pradhan Mantri Rozgar Yojana? Spend Elon Musk's Money The billionaire polymath is best known as the boss of electric car company Tesla and private rocket firm SpaceX, however he also heads brain-tech startup Neuralink and The Boring Company, which aims to solve traffic in cities by digging tunnel networks. Using that number, Elon Musk is $5 billion (plus $1) away from being the richest person in modern history. Next was Tesla Motors, an automobile company dedicated to producing affordable, mass-market electric cars. When Bezos was touted to soon become the worlds first trillionaire (he isnt yet but his net worth of $144bn puts him on track to become one by 2026), we learned he was richer than entire countries and later also found out he was richer than combined countries (to take an example: Jamaica, Iceland, Tunisia and Estonia). Musk is now worth about $182 billion, while Bezos' net worth is $181 billion. Though, one major red flag for Wikipedia's list is it doesn't even include Elon Musk. A different British historian, named Kenneth Kitchen, does believe Solomon existed. Read Next: Elon Musk's Net Worth Plummets $13B In A Day As Tesla Stock Slides Photo: Shutterstock Rejuvenate Your Portfolio With Options! So why is my original statement controversial? Powered and implemented by FactSet. He moved on to Stanford University to attend a Ph.D. program in physics, but decided school was no longer a useful pursuit. Though he wears many hats and is constantly topping his latest project, Elon Musk is earned the vast majority of his fortune as as the CEO of Tesla Motors. "About half my money is intended to help problems on Earth, and half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens and we destroy ourselves," it reads. In a 2019 legal deposition, Musk explained that he actually is somewhat cash-poor and that 99% of his personal wealth is attributable to shares in Tesla and SpaceX. Musk founded his third company, Space Exploration Technologies Corporation (SpaceX), in 2002 with the intention of building spacecraft for commercial space travel. On that day he was $54 billion away from Jeff Bezos' $184 billion net worth and his net worth had officially increased $100 billion since January 1, 2020. Indian officials wife distraught as his killer is freed. It also means the Tesla chief executive is worth tens of billions more than the second-richest person on earth, Amazon.com founder Jeff Bezos. What would An X.com acquisition the following year led to the creation of PayPal, as it is known today, and in 2002 PayPal was acquired by eBay for $1.5 billion in stock. A recent rise in Tesla's stock price has pushed Musk's net worth into the stratosphere. When the plan was forged, Tesla was worth around $50 billion. This financial tool allows one to resolve their queries related to Public Provident Fund account. To understand how rich billionaires really are, use this calculator Columbia University professor and tax expert, Robert Willens, said that was likely to be a fair comment from Mr Musk, who had made himself liable for "mind-boggling amounts of taxable income" in 2020, through exercising stock options that would otherwise have expired and been worthless. He invested in several Musk companies, including being one of the earliest investors in Tesla. He is by far the richest person in the world, topping the #2 person Jeff Bezos by around $140 billion. A calculator designed by a British vehicle buying and selling company has estimated that Elon Musk generates over $22,500 per minute. Elon Musk has overtaken Jeff Bezos to become the worlds richest person, having seen his wealth rise from $25 billion to nearly $200bn in less than a year. Dont have vacation homes or yachts or anything like that, he stated in a short Twitter thread republished from 2018. With a stake in the company taken by Daimler and a strategic partnership with Toyota, Tesla Motors launched its initial public offering in June 2010, raising $226 million. In 2020 Elon stunned the world by announcing his intention to sell all of his worldly possessions, starting with his LA homes. We can all understand how eager he must be to continue his work (particularly his pressing mission to, er, colonize Mars) but a global pandemic feels like a good moment for pause. The fundraising round increased SpaceX's private valuation to $46 billion, up from $36 billion. Read about our approach to external linking. Elon Musk testifies in defamation trial that his net worth is around While the numbers involved in the case of Mr Musk were exceptional, this was a standard approach for a corporate executive to take to expiring stock options, he added. Ultimately, Musk hopes to transform humanity into a multi-planetary species by establishing a self-sufficient colony on Mars, while simultaneously solving some of the biggest challenges back on Earth, including climate change and the perceived threat from advanced artificial intelligence. As of Join thought-provoking conversations, follow other Independent readers and see their replies. We welcome all corrections and feedback using the button below. The Tesla and SpaceX entrepreneur was pushed into the top slot after Tesla's share price increased on Thursday. Elon Musk VideoThe secret mine that hid the Nazis' stolen treasure, LGBT troops take love for Eurovision to front line. Earlier this week, Democratic Senator Elizabeth Warren tweeted that Mr Musk should stop "freeloading off everyone else". Cat-and-mouse chase with China in hotly contested sea, Explore in 3D: The dazzling crown that makes a king. Also in 1999, Musk co-founded X.com, an online financial services/payments company. In May 2020, Grimes and Elon welcomed a baby boy named X A-Xii. Elon Musk John Catsimatidis, the billionaire grocery chain and real estate magnate who owns Gristedes, condemned the proposal as something you would "expect Putin to do," referring to President Vladimir Putin of Russia.
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