Elon Musk Net Worth and Interesting Facts About the Entrepreneur

Elon Musk Net Worth

The CEO and the co-founder at Tesla is the iron man of reality. He looks after all the designs and structures of all the manufacturing products of the company, whether it’s the company’s battery products, electric vehicles, and the solar roofs. He is the role model of Tesla and dedicated his entire life to the welfare of the company. His mission is to create the number 1 product throughout the world. The reason behind Tesla’s successful invention and discovery is Elon Musk’s hard efforts. In an interview, he has revealed that his dream is to accelerate the world’s transition to sustainable energy in the upcoming days. Estimating Elon Musk net worth will take a lot of time because this genius earns from a lot of sources.

Since the foundation of Tesla in 2003, the man is serving you with his masterpieces in motor and vehicles. Besides his device’s high-grade performance, their outstanding features and the mind-blowing designs are tremendously gorgeous

The early life of Elon musk

The promising entrepreneur Elon Musk is not only the CEO of Tesla but also the co-founder of solar city and Paypal. Elon Musk net worth 2019 is the result of his hard-working from his very youth. Apart from all these, this superb person has also founded SpaceX. But, all these are not a task of a few days. It takes a lot of time and effort to build his career this grand.

Elon Musk was born in the year 1971 in one of the three capital cities in Africa, Pretoria. Perhaps he has developed his passion for making automobiles came from his engineer father. His mother was a successful model of the then age. All of his family members enjoy a successful career due to the ambiguous environment of the family. He is the eldest among his three siblings.

Due to some reasons, his parents got separated when Elon was just 9 years old. He used to spend most of the time with father. Elon Musk has described himself as a book worm. Elon Musk education started from Private Waterkloof House Preparatory. Later, he completed his graduation degree from Pretoria Boys High School.

Young and intelligent

From the very beginning of his childhood, he developed his passion for learning programming. It was the first step of making the current Elon Musk net worth. The computer he received at the age of 10 with the Commodore VIC-20 brought him favor in gathering knowledge is programming. After two years of the event, he smoothly sold his first game for $500 to the Spectravideo. The game was widely known as Blaster.

There are lots of stories to tell about the worldwide famous person which contributed to the Elon Musk net worth. It is worth mentioning, Musk planned during his school days to open an arcade of video games near his school with the help of his brother.

The youth of Musk was also aspiring. At the age of 17, he moved from his homeland to Canada to pursue his higher education at Queen’s University. After two years in Queen, he transferred to Pennsylvania University. The inspiring entrepreneur Musk completed his graduation degree in two individual subjects.  But, it was the Bachelor Science of physics that left a deep impression in his mind. He thought of continuing his career with it. He stated that physics is a better framework in case of thinking. That is where his career takes a turn and created the man of the engine.

The beginning of his career

Since the beginning of his career, he played a great role in making it bright and worthwhile. By his late 20s, he became a multimillionaire contributing towards the current net worth. Top Elon Musk companies include Zip2, SpaceX and Tesla. He established his first-ever company called Zip2 Corporation along with his brother. Later in the year, 1999, he sold his company to Compaq Computer Corporation for 34 million stock and 307 million cash.

See also  Bought a New Car? Find a Public Parking Near Me

In the same year, he invested his money in the year 1999. In the following 2002, eBay took PayPal for 1.5 billion. It was a major step of he be incoming a billionaire. One of the main reasons behind the increment of Elon Musk’s net worth is his efforts in PayPal.

How it escalated

His career became most interesting with SpaceX when he brings the greatest luck to the company. The company enjoys his first test flight of a Falcon 9 rocket successfully. Though, suddenly he faces a drawback because of an explosion in the Block 5 Merlin engine. But, it was not the end of his successful career.

2018, February brought the happiest moment to the SpaceX when Musk launched the Falcon Heavy Rocket. It is another milestone behind such a huge Elon Musk net worth. The following month of the same year, SpaceX again savored the taste of success after the safe landing of Block 5 Falcon rocket. Witnessing several successes with SpaceX, Elon Musk net worth increased to somewhat few billion. After that, he finally founded Tesla motor, the one for which he is worldwide famous.

Biggest achievements of Elon Musk in Tesla

As mentioned above, Musk founded Tesla Motors in 2003. Since the establishment, he had produced one by one masterpiece which gradually increased Elon Musk net worth. The main reason for Tesla winning the heart of the public is its friendly concept. The principal purpose of the motor company is to produce low pricing, environmental efficient products. Most of the Tesla products are based on electricity and battery-running.

He launched Tesla’s debut invention of the Roadster sports car in 2008. The products got a tremendous success owing to its capability of running 250 miles in 3.7 seconds. Later in 2012, he launched another motor, Model S sedan. The least price of S Sedan under the BMW5 series ranges from $58,570. Due to the high-grade performance, the car was given the honor of ‘2013 Car of the year by the magazine called Motor Trend.

The car under the same series with the modified version appears in 2015. All three models are heart throbbing and massive discovery of the person. During 2017, the company stated that soon the General Motor would take the position of the most valuable carmaker in the United States. The news came as a blessing to both the company’s future and Elon Musk net worth.

What it is today

In 2019, the Model 3 appears in the market with the starting price of $35,000. The price is fair enough according to its feature and acceleration. These are some biggest achievements of Tesla, which is undoubtedly impossible without the great Elon Musk. The overwhelming success of Tesla gains the compensation package that a CEO deserves worth of 50 billion.

Keeping all these aside, Tesla even produced two products regarding energy storage. Those two products include the power pack scale battery for industrial work purposes and the Power wall battery for household usage. The mass accepted these two products warmly adding several pounds to his net worth. The company becomes popular as the first vertically-integrated energy efficient company in the entire United States.

The income source of Elon Musk

Elon Musk’s earnings come from a wide range of aspects. Initially, being the CEO of Tesla motor, he earns a few billion. Besides that, he pays a minimum salary to himself from his own company for managing it. According to estimation, the salary of Elon Musk is determined by the present minimal wage requirements. If his salary in the past years is calculated, he has earned approximately $35,560 in the year 2014. The entire 2015 added about $37,584 to his total net worth. His earnings increased to $45,936 in 2016. The impressive hike in his income scale makes Elon Musk net worth vast.

In 2019, according to the calculation, the annual income of Musk is about $49,920. Musk, the CEO of Tesla enjoys 22% of the company’s stock. Needless to mention, a great source of his income relies upon the performance and success of Tesla in the market.

See also  Property of Steel: Know Each One In Detail

Being one of the best administrators throughout the world, he earns a large amount of money from other sources too. Apart from Tesla, this promising businessman has earned $160 billion from the holdings of Paypal. He is even the holder of 54 percent stock of SpaceX which is about 15 billion. The readers will get shocked to hear a fact. Bloomberg Billionaires Index stated that the total Elon Musk net worth is $30.4 billion in the current year of 2020.

The net worth of his assets

The news revealed that the maximum Elon Musk net worth depends on his assets and mortgages. The chief designer and CEO of Tesla has many more properties than his cash money.  In the case of owning cars, houses, Musk thinks higher. According to the report of the recent news, he took over five properties in California. Musk also has assets in Los Angeles, he owns four Bel Air neighborhoods there. He even has a property in the Bay Area. All these attributes are approximately US$61 million in worth. In the year of 2012, Musk bought the property of 20,200+ square feet for US$17 million. After the investment in the trait, he turned his US$10 million loans into the debt of US$19.5 million

By his enormous planning and intelligence, he smoothly makes a great many pounds to his total net worth through his assets. Apart from that, in 2018 he signed to Morgan Stanely loans worth of US$50 million.

His taking of loans is a strategy to maintain the liquidity of his total worth.  According to the report of Bloomberg Billionaires Index, being one of the billionaires of the word, he comes among the list of wealthy property owners who take mortgages. Among them, Mark Zuckerberg, Jay-Z, Beyonce, Ken Griffin are few world-famous celebrities.

Elon Musk’s charitable funds

The worldwide popular entrepreneur donates a considerable amount of Elon Musk net worth to the charitable funds. He believes that donating to charity is far more acceptable than prioritizing descendants. Till the date, he donated about $257 million to the Musk Foundation. Musk himself established the foundation and runs it singly. He stretches his supporting hands to grant support for the exploration of human space, education in science and engineering, advocacy and energy renewal research and study of pediatric.

He even contributed $15 million to global learning, and XPRIZE program. The program manages to support children throughout the world to provide them education along with skills in arithmetic. The teams under the program vowed to improve an open-source and develop the scalable software. Their main purpose is to teach the children basic education and arithmetic within a period of 15 months.

Forever giving

Musk is engaged with several other charitable funds that take the responsibility of the educational campaigns.  In 2015, he contributed $10 million for the welfare human being to the Future of Life Institute. The primary purpose of the institution is to aim at holding the benefits of AI with humanity. Moreover, it was reported that Elon Musk along with the Musk Foundation has donated $480,350 to the Michigan community when they were facing troubles regarding the water supply. The donation money was used to install several water fountains in every school in Flint with the filtration system.

Regardless to say, Musk supported Puerto Rico to restore power. He even included the support of Tesla along with his sole contribution of $250,000.Musk’s team was successfully able to provide power to the largest hospital for the children on that island. Leaving this, Musk served his contributions to 6 other battery projects on the same island. The locations of the project are Ciudad Dorada, Girls Club of Vieques, Susan Centeno hospital, the Arcadia water pimp station.

Final thoughts

The famous businessman has become a role model for the youth of the world who are into automobiles. The masterpieces he has created successfully won the heart of the public. As per the estimation of the annual income of Elon Musk and his hike in the property each ear, it is obvious that the net worth of Elon Musk’s net worth will increase tremendously within the upcoming 5 years.

Leave a Reply