What is Elon Musk’s Net Worth?
$230 BILLION
Elon Musk currently boasts an estimated net worth of about $230 billion, which includes his shares in Tesla as well as investments such as SpaceX, PayPal, Neuralink and The Boring Company.
Musk became a millionaire before turning 30 by selling Zip2, a software startup that assisted newspapers in creating city travel guides online, to Compaq Computer for $300 million in 1999. He used the proceeds from this sale to start X.com, which later merged with money transfer company Confinity to become PayPal.
Tesla and SpaceX
Elon Musk has amassed an estimated net worth estimated at approximately $152 billion thanks to his holdings in Tesla and SpaceX, the primary sources of which are valued at about $238 billion combined.
Other assets owned by Musk include his stake in artificial intelligence company xAI, social media venture X, the Boring Company and others that may or may not disclose ownership data and therefore make determining his total net worth more challenging; for example, determining what percentage ownership Musk holds of each business may not always be possible without providing access to that company’s ownership data available through public sources alone!
Musk has amassed an estimated net worth of $274 billion and thus become the world’s richest individual, overtaking Amazon founder Jeff Bezos, whose net worth stands at approximately $209 billion.
Born and raised in South Africa, Musk migrated to Canada at 17 in order to avoid conscription into its apartheid army. While studying physics and economics at universities in Canada and then New York City, he dropped out in order to focus on three primary interests: electric cars, rockets and space exploration.
Zip2 soon evolved into SpaceX, which designs and constructs reusable spacecraft and satellites for government clients as well as commercial entities; its Falcon Heavy rocket recently made its inaugural flight carrying Starman and Musk’s cherry red Tesla Roadster towards Mars orbit – something his previous technology couldn’t do. Additionally, he cofounded OpenAI, which researches artificial intelligence to ensure it won’t create disaster for humanity.
PayPal
Musk began his entrepreneurial ventures with Zip2, an online city travel guide he cofounded and sold for $300 million to Compaq Computer four years later. From these proceeds he reinvested some to start X.com; it later merged with Peter Thiel’s Confinity to form PayPal and was acquired by eBay for an estimated price of $1.5 billion in 2002.
Since then, Musk has invested in and founded space exploration company SpaceX and electric car manufacturer Tesla, as well as tunneling venture The Boring Company and brain-computer interface project Neuralink. Additionally, in 2022 he acquired Twitter but since has reduced staff numbers while shifting monetization strategy towards premium subscriptions.
At 13% without options, Musk holds 412 million Tesla shares and pledged them as collateral against a personal loan for $3.5 billion in 2022 to cover his purchase of Twitter. He owns 412 million shares total and holds an option pool with over 300 million exercisable options that has him pledged as collateral against this personal loan.
Though Elon Musk’s net worth has declined recently, he remains the second-richest individual worldwide behind Apple CEO Tim Cook. Musk had an estimated net worth of $164 billion as of February 2023, while Cook was estimated to have $206 billion.
Neuralink
At his core lies Elon Musk’s ownership of Tesla and SpaceX as well as The Boring Company for tunneling projects. However, one company that has drawn particular attention is Neuralink, which seeks to develop brain-computer interfaces that link our minds with computers; such an interface could allow paralyzed people to control prosthetic devices and potentially regain movement, as well as create technological telepathy between people across different environments.
Though this technology has existed for some time, its ownership by Musk has given it unprecedented attention and renewed interest. Musk reportedly stated that one goal of his company is helping humanity establish a “symbiotic relationship” with artificial intelligence so humans won’t become obsolete as AI advances.
Brain implants from this company are slightly larger than a quarter and sit comfortably underneath the skull, with tiny wires reaching into the brain to read neuron activity. Early this year, they announced they had received approval to begin human trials; one patient underwent surgery in January; according to Musk’s tweet from January, he indicated they had made a good recovery.
Implants may pose serious risks. In 2021, for instance, one test subject experienced bleeding in her brain after an implant broke off and penetrated the skull, piercing parts of her cortex and leading to iterations of parts. Furthermore, 25 out of 60 pigs received devices of inappropriate size and were later euthanized.
Boring Company
Elon Musk founded The Boring Company – one of six businesses he is involved with – as a way of combatting traffic gridlock in Los Angeles and he currently has several projects underway on the West Coast. They recently raised $675 million at a valuation of $5.7 billion.
The company plans to construct underground roads where autonomous electric “skate” vehicles can travel at 120mph, as well as work on an extra long-distance Hyperloop tube train capable of reaching 600mph speeds.
Fortune reports that the tunneling project may not be going according to plan. According to their investigation, an employee wrote an email in December 2016 to Wayne Merideth, the safety manager, complaining of passive articulation cylinder failure – part of machinery that turns tunneling machinery while digging. They further complained of how this company had shown complete disregard for safety on site, making him feel unsafe at work.
In addition to building the Hyperloop, The Boring Company is also trying to construct an employee community known as Snailbrook after their snail mascot in Bastrop, Texas. This planned community should feature schools, sports fields and even a private compound for Musk and his family.
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