What is Elon Musk’s Net Worth in 2023? The net worth of Elon Musk has been estimated to be $268 billion.
Who is Elon Musk? Elon Musk is the owner of Tesla Motors and SpaceX. He was the former Co-owner of Zip2 and also Co-founded PayPal before it was purchased by eBay.
Here is a quick info to grab about Elon Musk net worth and his profile.
- Elon Musk Net Worth: $268 Billion.
- Full Name: Elon Reeve Musk.
- Born: June 28, 1971.
- Citizenship: South Africa.
- Place of Birth: Pretoria.
- Source of Wealth: Business, Invention and Investment.
Elon Musk’s Biography and Early Life
Elon Musk is an American entrepreneur and businessman who established X.com, which subsequently became PayPal in 1999, SpaceX in 2002, and Tesla Motors in 2003. He was born in South Africa on June 28, 1971.
At the age of ten, Musk acquired his first computer and learned programming on his own.
When he was just 12 years old, he made his initial foray into entrepreneurship by selling a software game he created called Blaster.
At 17, Musk moved to Canada to pursue his studies at Queen’s University. However, he transferred in 1992 to the University of Pennsylvania, where he delved into business and physics.
He eventually obtained an undergraduate degree in economics, followed by a second bachelor’s degree in physics. Additionally, he pursued a PhD in energy physics.
However, he dropped out of Stanford University to pursue a career in the internet boom.
His mother, Mayne is a model and a dietician, while his father, Errol was an engineer.
He is the oldest of three children, all of whom are academically successful. Kimbal Musk, his brother, is a venture investor and an environmentalist.
Tosca Musk is a filmmaker, producer, and television program director.
Elon Musk’s Career Journey
In 1995, Elon Musk and his brother Kimbal Musk founded their initial venture, Zip2 Corporation, an online city guide.
Quickly, it began supplying content for websites such as the New York Times and the Chicago Tribune.
Zip2 was acquired by the Compaq Computer Corporation division in 1999 for $307 million in cash and $34 million in capital options.
Using the proceeds from the Zip2 sale, the Musk brothers started X.com, an online financial services/payments company in the following year. X.com eventually led to the creation of PayPal as it is known today.
When eBay acquired PayPal for $1.5 billion in shares in October 2002, Musk, who had owned 11% of PayPal’s equity, made his first billion.
That same year, Musk founded Space Exploration Technologies Corporation, or SpaceX, with the intention of developing commercial space vehicles.
NASA awarded SpaceX a contract for cargo transport to the International Space Station in 2008, with plans to extend this to human transport in the future.
On May 22, 2012, Musk and SpaceX achieved a significant milestone by launching an unmanned spacecraft into space using their Falcon 9 rocket.
In addition to his work with SpaceX, Musk co-founded Tesla Motors in 2003, focusing on affordable, mass-market electric cars, as well as battery products and solar roofing.
As the company’s co-founder, CEO, and product designer, Musk plays a vital role in overseeing product development, engineering, and design.
Elon Musk expressed interest in acquiring Twitter in 2017, questioning its commitment to free speech.
By April 2022, he had acquired a 9.2% stake, becoming the largest shareholder. Upon public disclosure, Twitter’s shares surged.
Musk made a $43 billion offer for the company, leading to Twitter adopting a “poison pill” strategy.
He concluded the bid for $44 billion, which affected Tesla’s market value and his net worth. Following a series of twists, the acquisition was finalized on October 27, 2022.
Post-acquisition, Musk made significant changes, including firing executives, implementing a subscription for verification, reducing content moderation, and reversing some decisions.
Under his management, Twitter experienced large outages and increased visibility of hate speech. Musk’s actions were reportedly driven by concerns over censorship and personal encouragement.
He posted a poll asking whether he should step down as CEO and a majority supported the decision.
Musk subsequently resigned, announcing his new role on May 11, 2023, and introducing Linda Yaccarino as the new CEO.
On July 12, 2023, Elon Musk founded an AI company named xAI with the goal of creating a generative AI program to rival existing ones like ChatGPT.
Engineers from Google and OpenAI have reportedly been hired by the company.
Elon Musk’s Recognition and Awards
Elon Musk’s achievements and recognition in various fields are numerous. In 2008, he was honored with the George Low Transportation Award by the American Institute of Aeronautics and Astronautics for his development of the Falcon rockets.
He was chosen as Fortune’s Businessperson of the Year in 2013 for his contributions to SpaceX, Solar City, and Tesla.
Yale University awarded him an Honorary Doctorate in Engineering and Technology in 2015, and he also received IEEE Honorary Membership that year.
The Fédération Aéronautique Internationale awarded him the Gold Space Medal in 2010, followed by the Royal Aeronautical Society’s Gold Medal in 2012.
Time magazine named Musk among its 100 Most Influential People on three occasions, in 2010, 2013, and 2018.
He was inducted as a fellow by the Royal Society in 2018 and tied for first place on Forbes’ list of the “Most Innovative Leaders of 2019.”
In 2020, New African magazine recognized him as one of the Top 100 most influential Africans, and he also received the Axel Springer Award that December.
Musk topped Fortune Magazine’s Businessperson of the Year list in 2020.
On January 7, 2021, Bloomberg named Musk the world’s wealthiest individual, and three days later, he also topped Forbes’ Billionaires List due to a considerable surge in his net worth.
Although his wealth experienced a decline in mid-2021, Musk regained his position as the richest person in the world later in the year, with an estimated net worth of $268 billion.
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(Summary) Elon Musk Net Worth in 2023
As of 2023, Elon Musk’s net worth is estimated at $268 billion.
He held the title of the world’s wealthiest person in January 2021 before being surpassed by Jeff Bezos.
By the end of 2021, Musk regained the top spot, and as of 2023, he remains the richest man in the world.
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