Elon Musk Net Worth : Business Career, Companies and More

Elon Musk is a business man, industrial designer, and engineer. He is the founder, CEO, CTO, and chief designer of SpaceX, early stage investor, CEO, and product architect of Tesla. Elon Musk Net Worth 2021

Elon Reeve Musk was born on June 28, 1971, in Pretoria, South Africa .His mother is Maye Musk, a model and dietitian born in Saskatchewan, Canada, but raised in South Africa .His father is Errol Musk, a South African electromechanical engineer, pilot, sailor, consultant, and property developer.Musk features a younger brother, Kimbal , and a younger sister, Tosca (born 1974).His maternal grandfather, Joshua Haldeman, was an American-born Canadian.His paternal grandmother had British and Pennsylvania Dutch ancestry.

After his parents divorced in 1980, Musk lived mostly together with his father in Pretoria et al. ,a choice he made two years after the divorce and subsequently regretted.Musk has become estranged from his father, whom he has described as “a terrible person.Almost every evil thing you’ll possibly consider , he has done.”He features a half-sister and a half-brother on his father’s side.The startup was acquired by Compaq for $307 million in 1999. Musk co-founded online bank X.com that very same year, which merged with Confinity in 2000 to make the corporate PayPal and was bought by eBay in 2002 for $1.5 billion.

Elon Musk Net Worth 2021

At the beginning of 2020, Musk was the 35th richest person within the world, with a net worth of $27 billion.Throughout that year, his net worth increased by $150 billion, largely driven by his ownership of around 20% of Tesla stock.During this, Musk’s net worth was often volatile. for instance , it dropped $16.3 billion in September, the most important single-day plunge within the history of the Bloomberg Billionaires Index.

In November of that year, Musk passed Facebook co-founder Mark Zuckerberg to become the third-richest person within the world; every week later he passed Microsoft co-founder Gates to become the second-richest.In January 2021, Musk, with a net worth of $185 billion, surpassed Amazon founder Jeff Bezos to become the richest person within the world.Bezos reclaimed the highest spot the subsequent month.

Around three-quarters of Musk’s wealth derives from Tesla.Musk doesn’t receive a salary from Tesla; he agreed in 2018 to a compensation plan with the board that ties his personal earnings to Tesla’s valuation and revenue.The deal stipulated that Musk only receive the compensation if Tesla reached certain market values. it had been the most important such deal ever done between a CEO and board,and has been described in one lawsuit as “excessive”.In the first award, given in May 2020, he was eligible to get 1.69 million TSLA shares (about 1% of the company) at below-market prices, which was worth about $800 million.

Musk and Amazon (AMZN) CEO Jeff Bezos are swapping places atop Bloomberg’s list of richest people within the world since January. Musk remains in second place, but only $6 billion behind Bezos. His net worth is $180 billion, with the Amazon honcho adding nearly $6 billion Tuesday.

Microsoft (MSFT) founder Gates remains the third-richest person on the earth . He’s worth $137 billion.Tesla’s stock gained 743% in 2020, propelling it to No. 5 on the list of most precious companies on the stock exchange . and therefore the stock continued to climb within the early weeks of of 2021, gaining another 25% to a record high close of $883.90 on January 26. The stock has fallen about 25% since then.

Business Career

In 2002, Musk founded SpaceX, an aerospace manufacturer and space transport services company, of which he’s CEO, CTO, and lead designer. In 2004, he joined electric vehicle manufacturer Tesla Motors, Inc. (now Tesla, Inc.) as chairman and merchandise architect, becoming its CEO in 2008. In 2006, he helped create SolarCity, a solar power services company and current Tesla subsidiary. In 2015, he co-founded OpenAI, a nonprofit research company that promotes friendly AI . In 2016, he co-founded Neuralink, a neurotechnology company focused on developing brain–computer interfaces, and founded The Boring Company, a tunnel construction company. Musk has proposed the Hyperloop, a high-speed vactrain transportation .

Musk has been the topic of criticism thanks to unorthodox or unscientific stances and highly publicized controversies. In 2018, he was sued for defamation by a diver who advised within the Tham Luang cave rescue; a California jury ruled in favor of Musk. within the same year, he was sued by the US Securities and Exchange Commission (SEC) for falsely tweeting that he had secured funding for a personal takeover of Tesla. He settled with the SEC, temporarily stepping down from his chairmanship and accepting limitations on his Twitter usage. Musk has spread misinformation about the COVID-19 pandemic and has received criticism from experts for his other views on such matters as AI and conveyance .