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Elon Musk Net Worth: How Much He Earns Annually? (2022 Updated)

Elon Musk Net Worth

Elon Musk Net Worth

Elon Musk, CEO of Tesla and SpaceX, is extending his reign as the world’s richest man by exploding his net worth above the rest of the top earners in 2022. According to the Daily Mail, Musk upped his net worth to $282 billion on the newest Forbes list, making him more than $100 billion richer than Amazon founder Jeff Bezos, who has a net worth of $183.6 billion.

Musk was a major beneficiary of the COVID-19 pandemic, as his net worth was just $26.6 billion (approximately Rs 2.02 lakh crores) at the start of 2020. Musk’s wealth increased by more than $110 billion in 2020, a record for anyone in the history of Forbes tracking such figures.

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Musk earned an additional $90 billion in 2021, when he dethroned Bezos at the top of Forbes’ rich list to begin the year. Musk is now $115 billion wealthier than LVMH CEO Bernard Arnault, who is the world’s third richest man with a net worth of $167.4 billion, according to the research.

He is also significantly wealthier than Microsoft co-founders Bill Gates ($134.2 billion) and Steve Ballmer ($97 billion), according to the report.

If you want to become a billionaire but were not born into the Saudi royal family, there are a few options. You may come up with a truly brilliant idea, such as a new computer operating system or social network, and then scale it to enormous proportions. Alternatively, you may follow Warren Buffet’s lead and accumulate wealth over decades through a succession of prudent, low–risk investments. And then there’s Elon Musk’s actions.

History of Net Worth

Tesla’s Wage

Elon does not get a salary as Tesla’s CEO. Rather than that, he has a highly unconventional and tremendously profitable bonus structure that is linked to the company’s market capitalization milestones. Tesla was valued at roughly $50 billion at the time the proposal was hatched. There are a total of 12 milestones based on market capitalization rises of $50 billion. Elon achieved every single milestone and thus qualified to win the entire $100 billion bonus pool. Quarterly distributions of shares relating to this plan are made if the Board of Directors confirms the achievement of a milestone.

Elon Musk Net Worth

Childhood Of Elon Musk

Elon Musk was born in Pretoria, South Africa on June 28, 1971. Musk purchased his first computer when he was ten years old and taught himself to programme. He sold his first piece of software when he was 12 years old—a game he built called Blaster. He travelled to Canada in 1989 at the age of 17 to attend Queen’s University, but left in 1992 to attend the University of Pennsylvania to study business and physics. Musk earned an undergraduate degree in economics before pursuing a second bachelor’s degree in physics and then a doctorate in energy physics. He did, however, drop out of Stanford University in order to participate in the internet boom.

Success Of Elon Musk

Zip2 Corporation, Musk’s first venture, was an online city guide. Zip2 was acquired by a division of Compaq Computer for $307 million in cash and $34 million in stock options in 1999. Musk co-founded X.com, an online financial services/payments startup, in 1999 as well. The next year, an X.com acquisition resulted in the formation of PayPal, as it is now known, and in 2002, PayPal was acquired by eBay for $1.5 billion in stock.

Private Life Of Elon Musk

Elon has been married twice, the second time to actress Talulah Riley. From 2000 to 2008, he was married to Canadian author Justine Wilson. They have five sons together. Additionally, he has had romantic relationships with actress Amber Heard and Canadian singer Grimes. Grimes and Elon welcomed a baby boy named X A-Xii in May 2020.

Summary

Elon Musk has an estimated net worth of $290 billion. As of this writing, he is one of the world’s wealthiest persons. Musk’s fortune stems from his 24% interest in Tesla and 43% stake in privately held SpaceX. Musk is cash-strapped, owing an estimated $500 million to Morgan Stanley and Goldman Sachs.

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