Elon Musk Net Worth And Biography (Updated 2023)

Elon Musk Net Worth, Tesla and Twitter, Biography And Assets (Updated 2023)

Today’s focus is on Elon Musk and in this article, We are going to update on Elon Musk Net worth, Elon Musk Biography, Elon Musk Education and Early Life, Elon Musk Tesla, Elon Musk Career and everything you need to know about him.

 

Elon Musk Net Worth and Biography

Elon Reeve Musk FRS  born June 28, 1971 is an entrepreneur, investor and business magnate. He is the founder, CEO and chief engineer at SpaceX; angel investor, CEO and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI.

With an estimated net worth of around US$252 billion as of April 2022, Musk is the wealthiest person in the world according to both the Bloomberg Billionaires Index and the Forbes real-time billionaires list.

Musk was born to a Canadian mother and White South African father, and raised in Pretoria, South Africa. He briefly attended the University of Pretoria before moving to Canada at age 17.

He matriculated at Queen’s University and transferred to the University of Pennsylvania two years later, where he received a Bachelor’s Degree in Economics and Physics. Musk moved to California in 1995 to attend Stanford University but decided instead to pursue a business career, co-founding the web software company Zip2 with his younger brother Kimbal. The startup was acquired by Compaq for $307 million in 1999. The same year, Musk co-founded online bank X.com, which merged with Confinity in 2000 to form PayPal. The company was bought by eBay in 2002 for $1.5 billion.

 

Elon Musk Net Worth

Elon Musk Early life and career

Elon Reeve Musk was born in Pretoria, South Africa. His mother is Maye Musk a model and dietitian born in Canada but raised in South Africa. His father is Errol Musk, a White South African electromechanical engineer, pilot, sailor, consultant, and property developer who was once a half-owner of a Zambian emerald mine near Lake Tanganyika.

Musk has a younger brother, Kimbal (born 1972), and a younger sister, Tosca (born 1974). His maternal grandfather, Joshua Haldeman, was an adventurous American-born Canadian who took his family on record-breaking journeys in a single-engine Bellanca airplane to Africa and Australia; Musk has British and Pennsylvania Dutch ancestry.

When Musk was a child, his adenoids were removed because doctors suspected that he was deaf, but his mother later decided that he was thinking “in another world.”

The family was very wealthy in Elon’s youth; Errol Musk once said, “We had so much money at times we couldn’t even close our safe”.

After his parents divorced in 1980, Musk mostly lived with his father in Pretoria and elsewhere, a choice he made two years after the divorce and subsequently regretted. Musk has become estranged from his father, whom he describes as “a terrible human being… Almost every evil thing you could possibly think of, he has done.”

Around age 10, Musk developed an interest in computing and video games and acquired a Commodore VIC-20. He learned computer programming using a manual and, at age 12, sold the code of a BASIC-based video game he created called Blastar to PC and Office Technology magazine for approximately $500.

An awkward and introverted child, Musk was bullied throughout his childhood and was once hospitalized after a group of boys threw him down a flight of stairs.

In 2002, Musk founded SpaceX, an aerospace manufacturer and space transport services company, of which he is CEO and Chief Engineer. In 2004, he joined electric vehicle manufacturer Tesla Motors, Inc. (now Tesla, Inc.) as chairman and product architect, becoming its CEO in 2008.

In 2006, he helped create SolarCity, a solar energy services company that was later acquired by Tesla and became Tesla Energy. In 2015, he co-founded OpenAI, a nonprofit research company that promotes friendly artificial intelligence.

In 2016, he co-founded Neuralink, a neurotechnology company focused on developing brain–computer interfaces, and founded The Boring Company, a tunnel construction company. He also agreed to purchase the major American social networking service Twitter in 2022 for $44 billion. Musk has proposed the Hyperloop, a high-speed vactrain transportation system.

 

Musk has been criticized for making unscientific and controversial statements. In 2018, he was sued by the U.S. Securities and Exchange Commission (SEC) for falsely tweeting that he had secured funding for a private takeover of Tesla. He settled with the SEC but did not admit guilt, temporarily stepping down from his chairmanship and agreeing to limitations on his Twitter usage.

In 2019, he won a defamation trial brought against him by a British caver who advised in the Tham Luang cave rescue. Musk has also been criticized for spreading misinformation about the COVID-19 pandemic and for his other views on such matters as artificial intelligence, cryptocurrency and public transport.

 

Elon Musk Net Worth in Tesla

Elon Musk Tesla Company

Musk had long been interested in the possibilities of electric cars, and in 2004 he became one of the major funders of Tesla Motors (later renamed Tesla), an electric car company founded by entrepreneurs Martin Eberhard and Marc Tarpenning. In 2006 Tesla introduced its first car, the Roadster, which could travel 245 miles (394 km) on a single charge.

Unlike most previous electric vehicles, which Musk thought were stodgy and uninteresting, it was a sports car that could go from 0 to 60 miles (97 km) per hour in less than four seconds. In 2010 the company’s initial public offering raised about $226 million.

Two years later Tesla introduced the Model S sedan, which was acclaimed by automotive critics for its performance and design. The company won further praise for its Model X luxury SUV, which went on the market in 2015. The Model 3, a less-expensive vehicle, went into production in 2017 and became the best-selling electric car of all time.

Dissatisfied with the projected cost ($68 billion) of a high-speed rail system in California, Musk in 2013 proposed an alternate faster system, the Hyperloop, a pneumatic tube in which a pod carrying 28 passengers would travel the 350 miles (560 km) between Los Angeles and San Francisco in 35 minutes at a top speed of 760 miles (1,220 km) per hour, nearly the speed of sound. Musk claimed that the Hyperloop would cost only $6 billion and that, with the pods departing every two minutes on average, the system could accommodate the six million people who travel that route every year.

However, he stated, between running SpaceX and Tesla, he could not devote time to the Hyperloop’s development.

Elon Musk Net Worth after he bought Twitter

Musk joined the social media service Twitter in 2009, and, as @elonmusk, he became one of the most popular accounts on the site, with more than 90 million followers as of April 2022.

He expressed reservations about Tesla’s being publicly traded, and in August 2018 he made a series of tweets about taking the company private at a value of $420 per share, noting that he had “secured funding.”

The following month the U.S. Securities and Exchange Commission (SEC) sued Musk for securities fraud, alleging that the tweets were “false and misleading.” Shortly thereafter Tesla’s board rejected the SEC’s proposed settlement, reportedly because Musk had threatened to resign.

However, the news sent Tesla stock plummeting, and a harsher deal was ultimately accepted. Its terms included Musk’s stepping down as chairman for three years, though he was allowed to continue as CEO; his tweets were to be preapproved by Tesla lawyers, and fines of $20 million for both Tesla and Musk were levied.

Musk was critical of Twitter’s commitment to principles of free speech, in light of the company’s content-moderation policies. Early in April 2022, Twitter’s filings with the SEC disclosed that Musk had bought more than 9 percent of the company. Shortly thereafter Twitter announced that Musk would join the company’s board, but Musk decided against that and made a bid for the entire company, at a value of $54.20 a share, for $44 billion.

Twitter’s board accepted the deal, which would make him sole owner of the company. Musk stated that his plans for the company included

“enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.”

 

Elon Musk Net Worth 2023

We can’t actually place a direct figure on his net worth but it can be estimated ideally.

Putting all this figures together and considering the assets, houses, cars and investment, it is then safe to determine Elon Musk’s net worth.

Based on all of this, we can conclude that Elon Musk has a net worth: $273 billion, Tesla Ownership Stake: 17% ($187 billion) And Other Assets: Space Exploration Technologies ($40.3 billion private asset), $5.7 billion in cash.

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