Currently the richest man alive, Elon Musk is one of the most influential people on the planet. He built his wealth as an inventor, investor, and business magnate. He is the head of Tesla, Inc., SpaceX, and The Boring Company. His most recent acquisition is the social network Twitter. According to Forbes.com, Elon Musk has a net worth of $218 billion in 2022.
Elon Reeve Musk was born in Pretoria, South Africa, on June 28, 1971. His father, Errol, is an electromechanical engineer, and his mother, Maye, is a model. He has a brother named Kimbal and a sister named Tosca.
Elon’s dad allegedly once owned an emerald mine in Zambia, because of this he grew up in a wealthy family. He stayed with his father after his parents split up in 1980. At age 12, he learned computer programming. He graduated from South Africa’s Pretoria Boys High School.
In 1990, he moved to Canada with his mother to attend Queen’s University. He transferred to the University of Pennsylvania and got physics and economics degrees in 1997. Two years prior, he was accepted for a Ph.D. program at Stanford University, but he left to start an internet business.
Elon Musk, his brother Kimbal, and entrepreneur Greg Kouri established the web software startup Zip2 in 1995. It became a success, and the Musk brothers inked deals with Chicago Tribune and The New York Times. In 1999, Zip2 was bought by Compaq for $307 million.
After selling Zip2, Musk launched one of the first federally approved online payment services, X.com. He was the company’s first CEO, but he was later replaced by business executive Bill Harris.
Musk returned to his original position when X.com merged with PayPal. His methods caused PayPal co-founder Peter Thiel to resign. Thiel replaced Musk in 2001, and PayPal became the official name of the merged companies. It was acquired by eBay in 2002 for $1.5 billion.
The accomplished businessman joined the Mars Society, a non-profit organization, in 2001. This initiated him to create SpaceX in 2002. The company became responsible for some of humanity’s recent space exploration accomplishments in modern history.
In 2004, Elon Musk became chairman of the board of directors of Tesla, Inc. After the financial crisis in 2008, he became the CEO and product architect of the company, replacing the co-founder Martin Eberhard.
Under Musk’s leadership, Tesla became known for its futuristic electric sports cars. It eventually became the most valued automobile manufacturer. This enabled Elon to start other pursuits.
Inspired by Elon’s idea, his cousins, Peter and Lyndon Rive, created the solar energy provider SolarCity in 2006. Tesla, Inc. acquired the company to create Tesla Energy in 2016.
In the same year, he launched two other considerable undertakings: Neuralink, a neurotechnology firm, and The Boring Company, an infrastructure and tunnel enterprise. Of course, there’s his recent plans to acquire Twitter. A deal is expected to close in 2022, Musk is working on securing funding to takeover the social media site.
Apart from business investments, Elon Musk also puts his money in crypto. He is a big supporter of the meme-inspired crypto Dogecoin. He has also shared his fondness for Bitcoin and Ethereum.
Net Worth and Earnings
Elon pays himself nothing as CEO of Tesla. Instead, he has an exceedingly unusual and profitable bonus structure related to the firm’s market cap milestones. There are a total of 12 milestones, and Elon achieved all of them. It earned him $100 billion.
As for SpaceX, the space company is currently worth $100 billion, and Musk has a 48% stake in it. Adding all this to his other ventures and crypto investments makes him the richest man on Earth, with a $218 billion net worth.
Musk was first married to author Justine Wilson in 2000. In 2002, their first child was born, Nevada Alexander, but died after ten weeks. Then they had twins Griffin and Xavier and triplets Damian, Saxon, and Kai. Elon and Justine sadly divorced in 2008 but two years later, Elon married Talulah Riley.
They divorced in 2012, remarried a year later, and divorced again in 2016. In 2017, Musk dated Amber Heard for a few months and he later got into a relationship with musician Grimes in 2018. In 2020, they had their child, who is unusually named X Æ A-Xii. Elon owns a lavish home in Texas but sometimes stays in a $50,000 modular mini house in Boca Chica.