Elon Musk is the CEO and Founder of SpaceX and The Boring Company and a co-founder of Zip2, PayPal, Tesla Motors, SolarCity, and OpenAI. He has also visualised a very high-speed transportation system known as the Hyperloop.
As of January 2022, his approximately net worth of $218.3 Billion, and now he is the wealthiest person in the world, according to Forbes and Bloomberg Billionaires Index.
In 2006, he helped found SolarCity, a solar energy systems provider that’s now the second-largest provider of solar power systems in the U.S. Musk has been called Silicon Valley’s “next Steve Jobs.”
In 1971, Elon Musk began his career in South Africa as a computer programmer. He moved to the United States at age 17 and earned degrees in business and physics from the University of Pennsylvania. His first company, Zip2, provided online content publishing software for media companies. Next, he started an online banking technology company X.com, which eventually merged with Confinity Inc. to form PayPal. In March of 2002, eBay acquired PayPal for $1.5 billion in stock.
Tesla Motors is one of the most valuable car companies globally and has become a significant player in the auto industry. Telsa Motors, Inc., a company that designs, manufactures, and sells electric cars, has grown exponentially. Musk’s Tesla Motors is one of the largest companies in the world to produce electric vehicles and batteries exclusively.
The company was launched to market luxury electric sports cars (the Roadster) in 2008 and now also sells a full line of luxury electric vehicles (the Model S) and electric powertrain components for automotive companies like Daimler and Toyota.
The company produces the S, X, and 3 high-performance all-electric cars. Consumer Reports have rated the Model S as the best car they have ever tested.
More than 85% of Tesla’s revenues come from its sales of electric vehicles. It also earns income from selling zero-emission vehicle credits to other automakers, which is expected to be a more prominent source of revenue in upcoming years as more stringent emission standards are introduced.
On July 1 2003, it was founded by Martin Eberhard, JB Straubel, Elon Reeve Musk and Marc Tarpenning and its headquarter in Palo Alto, CA. The company’s mission is to produce affordable, mass-market electric cars battery products and solar roofs.
This company designs develops, manufactures and sells fully electric vehicles and energy storage products in the United States, China, Norway and internationally. It offers sedans and sport utility vehicles under the Tesla marque. In June 2016, Tesla became the most valuable carmaker in the U.S., ahead of General Motors Company and Ford Motor Company.
Elon Musk is one of the most brilliant minds globally and thinking about how technology could help shape the future world. He wanted to see more people using technology for good rather than evil, so he decided to leave.
He revolutionised the internet, creating PayPal and colonising Mars by building the first private space program. He works for Zip2 Corporation as a web software developer.
Zip2 Corporation was financially backed by Compaq Computer Corporation, which later merged with Hewlett-Packard. Compaq wanted Zip2 to create software to sell to cities for use with their utility networks. In 1999, Compaq bought Zip2 for $307 million, and Musk walked away.
Musk founded SpaceX, which designs, manufactures and launches advanced rockets and spacecraft. SpaceX has already successfully launched several missions into space and has developed reusable missiles, making them less costly than traditional rockets, which have to be used once then discarded.
PayPal was founded by Max Levchin, Peter Thiel, Luke Nosek, Elon Musk and Ken Howery in 1999 to make it easier for people to transfer money via email. It then received significant investments from many well-known companies, including Ebay Inc., Andreessen Horowitz and others. In 2002 eBay acquired PayPal for $
According to the latest selling, he holds 175 Million shares of Tesla stock. His net worth comes from his 27% stake in Tesla Motors. It is also the company that he helped start back in 2003 after leaving Zip2. In addition to his stake in Tesla Motors, he also has a 10% stake in SolarCity, which Tesla Motors bought for $2 billion in 2015.
It is expected that Tesla sales will grow over 50% in 2022 by opening new factories and boosting the production of existing plants.
Elon Musk has built a massive fortune through his work at SpaceX, which he founded with a $100 million loan from the U.S government. Although that may sound like a lot of money, it’s half the amount it costs to start the company.
It took eight years for SpaceX to get off the ground, but it began making huge profits working on NASA and other government contracts once it did.
As you probably know, SpaceX recently received a $1.6 billion contract from NASA to build part of the space station, which will use for research and resupply missions for future missions.
He founded his first company, Zip2, which made online city guides for newspapers and sold it for $307 million in cash and $34 million in stock options. Later he co-founded X.com, which later became PayPal after merging with its rival Confinity making Musk one of its largest shareholders before its sale to eBay for $1.5 billion in 2002. He made over $180 million from his 11% stake in PayPal.
In 1999, Musk sold Zip2 to Compaq for $307M. After taxes, he took home $22M, which is a little under 2% of what he made from the sale.
Musk then founded X.com, which later merged with Confinity based out of California. Before the merger, Musk owned about 30% of Confinity stock. The company had an IPO, and he ended up getting $55M from the sale of his shares.
After selling both Zip2 and Confinity, Musk had more money than earlier in his career. Before 1999, he made around $15-20M from both companies combined, which is certainly nothing to sneeze at but pales in comparison to the massive amounts of money that came later on in life. In 1999 alone, he made $70M!