|Net Worth||$18.2 Billion|
|Born||June 28, 1971|
|Country of Origin||South Africa|
|Source of Wealth||Entrepreneur/Investor|
What is Elon Musk’s net worth? Here’s what we know. Born in South Africa in 1971, Elon Reeve Musk moved to Canada when he was 17-years-old to attend Queen’s University and avoid mandatory service in the South African military. He left the university in 1992 to study business and physics at the University of Pennsylvania. Musk graduated with an undergraduate degree in economics and stayed around for a second bachelor’s degree in physics.
After leaving Pennsylvania, Musk went to Stanford in California to get his Ph.D. in energy physics. But during this time, the internet started to blossom. Much like Bill Gates taking advantage of the tech industry, Musk did the same with the internet. The opportunist dropped out of Stanford to take full advantage of the boom.
He launched his first company, Zip2 Corporation, an online city guide providing useful information and content for The New York Times and Chicago Tribune. In 1999, Musk sold the company to a division of Compaq Computer Corporation for a cool $307 million in cash and $34 million in stock options. Needless to say, Elon Musk’s net worth was in the mega-millions.
Before turning 30, Musk was a multimillionaire. After selling Zip2, Musk co-founded X.com, an online services/payments company. An X.com acquisition in 2000 led to the service we now know as Paypal, and in 2002, Paypal was purchased by eBay for $1.5 billion in stock. Musk owned 11 percent of the stock at the time.
After making millions and millions of dollars, Musk decided to have fun with his third company, SpaceX. The Space Exploration Technologies company was founded in 2002 with the intention of building spacecraft for commercial space travel. Six years after being in business, SpaceX landed a deal with NASA to handle cargo transport for the International Space Station.
In May of 2012, Musk and his company made history by launching its Falcon 9 rocket into space. The vehicle was sent to the International Space Station with 1,000 pounds of supplies for the astronauts stationed there.
Musk is also the co-founder/CEO of Tesla Motors, a company dedicated to producing mass-market electric cars as well as solar roofs. In August 2018, Musk shocked everyone by tweeting, “Am considering taking Tesla private at $420. Funding secured.”
This was a bad move by Musk. Several investors filed lawsuits on the grounds that Musk was looking to manipulate stock prices and ambush, short sellers. One month later he announced he would be stepping down as chairman of Tesla’s board for three years. He also has to pay a $20 million fine.
But a $20 million fine to him is more like a $60 parking ticket. Musk’s net worth is around $18 billion. In 2014, he was worth a paltry $10 billion. I wonder, how did he even survive back then? One thing we learned from all this, Elon Musk’s net worth is only going to continue growing!