Though Elon Musk is known as the founder of Tesla, Martin Eberhard is one of the original co-founders along with Marc Tarpenning. In the early days, he served as the CEO before Musk took over the role. Martin Eberhard is an inventor, engineer, and entrepreneur with a net worth of $500 million. This pales in comparison to Elon’s fortune of $191 billion!
Net Worth and Earnings
Eberhard is no longer involved with Tesla but he revealed to CNBC that he still owns a small stake in the company (less than 5%). He stated that he isn’t a billionaire but the engineer refuses to reveal how much his equity is worth.
Even without Tesla, the inventor still has a notable resume. The California native has founded a number of successful companies and made millions in the process. Martin Eberhard also makes money as a speaker and charges $50,000 to $100,000 for live events according to speakerbookingagency.com.
Background
Martin Forest Eberhard was born on May 15, 1960. Raised in Kensington, California, he developed a passion for inventing and bringing his ideas to life. In 1982, he earned a bachelor’s degree in computer engineering at the University of Illinois Urbana-Champaign.
Two years later, he got a master’s degree in electrical engineering and was hired by Wyse Technology as an electrical engineer. At his first job, he created his first official product, a computer terminal he named WY-30 ASCII.
Entrepreneurial Career
In 1987, Martin created his first business venture through co-founding Network Computing Devices. After nine years, he partnered with Marc Tarpenning to launch the NuvoMedia ebook company.
Tarpenning and Eberhard became close associates. They shared the same concerns about fossil fuels and global warming. This led the two to become the original founders of Tesla Motors, which aimed to produce electric cars.
As the biggest investor in the startup, Elon Musk joined the business duo. Early employees Ian Wright and JB Straubel were also given the title of co-founders. Martin Eberhard served as chairman and CEO.
Leaving Tesla
Martin’s relationship with Elon was rocky. Musk put a lot of money into Tesla, but wasn’t confident with Eberhard’s abilities. Understandably, he was concerned about the firm’s future. So, he reportedly forced the CEO out and took his place. During this time, Eberhard was short on cash and unemployable due to an IP agreement.
This led to Martin suing Elon for slander and libel in 2009. They settled the case later that year and he began working with Volkswagen.
In 2016, he created inEVit, a power storage provider for equipment manufacturers. It was purchased by Seres in 2017, and Eberhard left the company after a year. In 2019, he launched Tiveni, to make intelligent EV battery systems.
Personal Life
Eberhard retired after leaving Tiveni in December 2021. He prefers to keep a low profile but it’s known that Martin is married to Carolyn Eberhard. The couple have known each other since their college days and live in Redwood City, California.
