What do we know about the Elon Musk’s net worth?
The world looks at billionaires with wonder.
How did they get to the height of success? What makes them different? Why are they geniuses?
Elon Musk is one of such billionaires that the world looks on to. An inspiration to budding entrepreneurs. From a small boy who suffered horrendous bullying in primary school to be a strong opponent to the world’s richest man, Jeff Bezos, Musk has come a long way.
Elon Musk intends to use half of his wealth to help problems on earth and half to help establish a self-sustaining city on Mars to ensure the continuation of all species. The billionaire polymath recently said that he “will own no house” and would sell almost all of his physical possessions.
But what do we know about the South African billionaire’s net worth?
There’s nothing Elon Musk can’t do.
This 49-year-old billionaire is making inroads to every sector. Be it aerospace, telecommunications, transport, health care, infrastructure- Elon Musk is taking on everything. And so far all his investments are paying off. Elon Musk is a man with a plan.
Elon Musk is developing some of the promised futuristic techno companies in the world that will further increase his wealth.
In the aerospace sector- Musk owns SpaceX, a rocket company that aims to build a “freeway to Mars and reduce the cost of space travel.” It is now valued at $46 billion.
In the telecommunications sector- Musk is developing a satellite internet constellation known as Starlink that will revolutionize the internet.
In the energy sector- Musk owns a company named SolarCity, a project that will make solar power mainstream and pervasive.
In the transportation sector- Musk is working on project Hyperloop, a fifth mode of transportation that will work at hypersonic speeds to convey people or objects.
In the infrastructure sector – Musk owns the Boring Company that aims to develop safe, fast, and low-cost transportation tunnels.
In the healthcare sector- Musk owns Neuralink which is developing interfaces that will link human brains to computers.
As the co-founder and CEO of Tesla, Musk leads all product design, engineering, and global manufacturing of the company’s electric vehicles, battery products, and solar energy products.
Elon Musk recently added the biggest feather to his cap in January 2021 by becoming the world’s richest man with a net worth of more than $185 billion. He dethroned Amazon’s CEO, Jeff Bezos, who owned the title since October 2017.
Musk’s wealth surge over the past year notes the fastest rise to the top of the rich list in history.
The main reason for Elon Musk’s huge growth in wealth is the rise in Tesla’s shares. The entrepreneur owns 20% of Tesla’s shares, which rallied 4.8% to boost Musk’s valuation beyond Jeff Bezos. Tesla’s rocking share price and his generous pay package have added more than 150 billion to his net worth.
Musk started 2020 worth about $27 billion and was not even on the top 50 richest people list.
In February, Musk faced a loss of about $4.5 billion as shares fell 2.4% which brought him back to second place on Bloomberg’s Billionaire’s index ranking.
On March 13, Tesla’s Elon Musk made a new milestone. He hit a record $25 billion in one day. Tesla’s 20% jump on Tuesday pushed the billionaire founder’s fortune to $174 billion, closing the gap with Jeff Bezos.
Both the billionaires, Musk and Bezos have been battling for the top spot on the Bloomberg wealth index since January 2021. Musk is currently in the second position.
