Elon Musk is currently the world’s richest person, having made billions through hard work, dedication, and smart moves. Tesla, SpaceX, X (Twitter), and other business ventures and tech investments are the primary sources of his income.
Musk was born in Pretoria, South Africa, and his tech-savvy skills came out at the age of 12 when he created the software “Blaster.” After dropping out of university, he pursued a career in the tech business. As a result, he is the richest person in the world, surpassing Jeff Bezos, Mark Zuckerberg, and Bill Gates.
Currently, on October 25, 2024, Tesla stock surged up to $34 billion, making a huge impact on Musk’s net worth. However, the title of world’s richest person has generated much public interest to know what Elon Musk’s Net worth is.
Let’s have a close look at all about Elon Musk net worth and lifestyle in detail.
Who is Elon Musk?
Elon Musk, born on June 28, 1971, in Pretoria, South Africa, is a renowned entrepreneur and innovator, best known for his roles in companies like Tesla, SpaceX, and X Corp.
Musk’s early fascination with technology and science fiction shaped his ambitious vision for the future of world. At the age of 12, he developed and sold the code for a video game that considered as his initial foray into the tech world.
He pursued higher education at Queen’s University in Canada before transferring to the University of Pennsylvania, where he earned degrees in physics and economics.
Who is Elon Musk Father?
Elon Musk dad is Errol Musk, who is a mine-owner, businessperson, and South African politician.
He ran a lucrative business which takes orders to large productions of retails, buildings, real estates, and air force base.
Errol Musk has been a rich person since Elon’s youth, making him a man of his own creation.
Bio Data of Elon Musk
- Full Name: Elon Musk
- Date of Birth: June 28, 1971
- Age: 53
- Birthplace: Pretoria, Transvaal, South Africa
- Occupation: Entrepreneur, Investor, Engineer
- Source of wealth: Tesla, SpaceX, and other tech investments
- Residence: Austin, Texas
- Citizenship: American, Canadian, South African
- Notable Ventures: Neuralink, The Boring Company, OpenAI, PayPal
- Education: Graduation in economics and energy Physics, University of Pennsylvania
How Tall is Elon Musk?
Elon Musk stands at 6 feet 2 inches (188 cm) tall. Quite an impressive height for someone who’s already larger than life in other ways.
One of the factors influencing Elon Musk’s larger-than-life demeanor is his height. His presence is enhanced by his confident stance and active energy, therefore rendering him a dominant presence in any environment.
Where Does Elon Musk Live?
Elon Musk currently resides in a modest $50,000 prefabricated home near SpaceX’s Starbase facility in Boca Chica, Texas. This compact house, made by the company Boxabl, is about 400 square feet and holds all the basic amenities like a living area, kitchen, bedroom, and bathroom.
How Much Does Elon Musk Make a Day?
Elon Musk as an average makes $54.55 million in a day. These figures are based on his net worth and the growth of his investments, particularly in companies like Tesla and SpaceX.
What is Elon Musk Net Worth?
According to Forbes, Elon Musk has an approximate net worth of $348.2 billion, making him the world’s richest person. He earns money from different sources, such as Tesla, SpaceX, X, and other ventures.
Musk’s entrepreneurial journey began in the 1990s with ventures like Zip2, an online city guide, and X.com, which later evolved into PayPal. The sale of PayPal provided the capital for Musk to embark on more ambitious projects.
- SpaceX: Musk founded SpaceX in 2002 with money from the sale of PayPal. He owns 42% of SpaceX and has 79% voting control. The company developed the Falcon rockets and the Dragon spacecraft, for the first time as private entity to dock with the International Space Station.
- Tesla, Inc.: Joining Tesla Motors in 2004, Musk played a pivotal role in transforming it into a leading electric vehicle manufacturer. Musk is the CEO and product architect of Tesla, an electric vehicle company. He owns about 13% of Tesla, and with stock options, his total stake is around 20%.
- X Corp.: In 2022, Musk acquired Twitter and rebranded it as X Corp. as an “everything app” that integrates social media, payments, and more. Musk owns around 75% of X, the company that operates the social media platform.
Elon Musk founded Boring infrastructure company in 2016, which aims to reduce traffic jams by moving highways underground. His stake in the company is worth an estimated $3 billion.
Musk announced xAI, an Artificial intelligence company, in 2023, and its product, Grok, was released in 2024. The company’s value is currently estimated at around $24 billion. Musk is also involved with Neuralink.
💲 Elon Musk Net Worth Over Time
💸 Elon Musk net worth 2020: $170 Million
💸 Elon Musk net worth 2021: $188 Million
💸 Elon Musk net worth 2022: $219 Million
💸 Elon Musk net worth 2023: $245 Million
💸 Elon Musk net worth 2024: $486 Million
Personal Life of Elon Musk
Personal life of Elon Musk has been as active as his work He has fathered 14 children with different partners, including twins and triplets through IVF with his first wife, Justine Wilson, and children with musician Grimes and Neuralink executive Shivon Zilis.
Often working long hours and keeping a hands approach in his businesses, his way of life reflects his tireless work ethic. Musk is well known for his rather low personal spending despite his enormous riches; he directs his resources on ambitious projects such renewable energy and space exploration.
How Did Elon Musk Become Successful?
Even though Musk created his first software at an early age, his success began in 1995 when he started Zip2 with his brother Kimbal Musk. It was an online city guide. However, they sold the Zip2 corporation to Compaq Computer in 1999. Compaq paid $34 million in stock and $307 million in cash.
The following year, Musk co-founded a financial online payment system software, X.com. The acquisition of X.com led to the creation of PayPal. However, the PayPal was sold to eBay in 2002 for $1.5 billion.
After selling PayPal the same year, Musk started his new corporation, SpaceX. The purpose of the project was to build a spacecraft with the intention of traveling in space.
After a few years, in 2008, NASA gave SpaceX a project to handle international space cargo transportation. Additionally, they plan to send astronauts into space in the future. As of now, SpaceX is worth around $210 billion.
A year after starting SpaceX, Musk Co-founded Tesla Motors along with Marc Tarpenning and Martin Eberhard. Tesla started to produce budget-friendly electric cars. Toyota and Tesla collaborated and announced their public offering in 2010.
