Image via Britannica.
Elon Musk is the CEO and founder of six companies, including Tesla, SpaceX, and X (formerly Twitter). He is also the richest person in the world, with an estimated net worth of $254.4 billion as of October 1, 2023. But how did he get so wealthy, and what are his sources of income?
In case you are curious about his source of wealth, keep reading.
Tesla.
Tesla is the electric car maker that Musk co-founded in 2003. It was gathered that he owns about 23% of the company between stock and options, and has pledged some of his shares as collateral for loans. Tesla’s market cap surpassed $1 trillion on October 26, 2021, after a blowout earnings report and a big car order by Hertz. This boosted Musk’s net worth by $41.7 billion in one day.
Image via Bleepstatic
SpaceX.
SpaceX is the rocket producer that Musk founded in 2002. He owns about 48% of the company, which is worth $127 billion after a funding round in May 20221. SpaceX has been launching satellites, resupplying the International Space Station, and developing reusable rockets and Starship, a spacecraft that aims to colonize Mars. SpaceX also operates Starlink, a constellation of satellites that provides high-speed internet access.
Image via Entrackr
X.
X is the social media platform that Musk acquired around April 2022 for $44 billion. He disclosed a 9.1% stake in Twitter and threatened a hostile takeover, which led to the deal closing in October 2022 after Musk tried to back out and Twitter sued. Musk owns an estimated 74% of X, which he renamed after his favorite letter. X has been experimenting with new features such as tipping, subscriptions, and NFTs.
Image via X
Other Ventures.
Musk also has other ventures that contribute to his wealth, such as Boring Company, Neuralink, and SolarCity. Boring Company is a tunneling startup that aims to defeat traffic by building underground transportation systems. Neuralink is a brain-computer interface company that seeks to enhance human cognition and treat neurological disorders. SolarCity is a solar energy company that Tesla acquired in 2016.
Conclusion.
Elon Musk is the richest person in history, with a net worth of $254.4 billion as of today. He has achieved this by founding and leading six companies that are disrupting various industries, from transportation to space exploration to social media. He is also a visionary who wants to make humanity a multi-planetary species and solve some of the world’s biggest problems.
RECAP.
Full Name: Elon Reeve Musk.
Net Worth: $254.4 billion.
Sources Of Wealth: Entrepreneur, Investor.
