Elon Reeve Musk is a businessman, conservative political activist, and investor known for his key roles in the space company SpaceX and the automotive company Tesla, Inc. Other involvements include ownership of X Corp., the company that operates the social media platform X (formerly known as Twitter), and his role in the founding of The Boring Company, xAI, Neuralink, and OpenAI. He is one of the wealthiest individuals in the world; with a net worth of US$244 billion.
Elon Musk remains a pivotal figure in the world of technology and business, known for his ambitious ventures and groundbreaking innovations. As of 2024, his net worth reflects his significant influence and the fluctuating nature of the stock market.
What is Elon Musk’s Net Worth?
As of early September 2024, Elon Musk’s net worth is $244 billion, making him the richest person on the planet. His wealth primarily stems from his stakes in several high-profile companies, including Tesla, SpaceX, and X (formerly Twitter). Musk’s financial journey has been marked by dramatic highs and lows, reflecting both the volatility of the tech industry and his own business decisions.
Breakdown of Musk’s Wealth
- Tesla, Inc.: Musk owns about 13% of Tesla’s stock, which has been a significant contributor to his wealth. The company has seen substantial growth, particularly in the electric vehicle market.
- SpaceX: Musk’s private aerospace manufacturer and space transportation company has also added billions to his net worth. SpaceX’s recent contracts with NASA and other entities have bolstered its valuation significantly.
- X (Twitter): Musk acquired Twitter for $44 billion in 2022, and although the platform has faced challenges, it remains a notable part of his portfolio.
- Other Ventures: Musk is involved in several other companies, including Neuralink and The Boring Company, which contribute additional value to his overall wealth.
Early Life
Elon Musk was born on June 28, 1971, in Pretoria, South Africa. From a young age, he exhibited a keen interest in technology and entrepreneurship. He taught himself computer programming at the age of 12, creating a video game called Blastar, which he sold for $500. Musk’s early life was marked by a blend of academic excellence and a passion for innovation. He moved to Canada at 17 to attend Queen’s University and later transferred to the University of Pennsylvania, where he earned degrees in both physics and economics.
Personal Life
Musk’s personal life has often been in the spotlight, reflecting both his successes and challenges. He has been married three times, twice to Talulah Riley, and has a total of ten children. Musk’s relationships and family life often intertwine with his business ventures, as he balances his roles as a father and a CEO.
Musk has had notable relationships with several high-profile figures, including actress Amber Heard and Canadian musician Grimes. He and Grimes, whose real name is Claire Boucher, began dating in 2018 after connecting over a shared interest in artificial intelligence.
They welcomed their first child, a son named X Æ A-Xii, in May 2020, followed by a daughter, Exa Dark Sideræl Musk, born via surrogate in December 2021. Their relationship has been characterized by its fluidity; despite breaking up and reuniting several times, they continue to co-parent their children.
Real Estate
Elon Musk’s real estate portfolio has seen significant changes over the years. At one point, he owned multiple properties in the Los Angeles area, including a historic mansion in Bel Air.
However, in 2020, Musk made headlines when he announced he was selling most of his real estate holdings, stating he wanted to simplify his life and focus on his work.
As a result, he sold several properties for a combined total of over $100 million.
Currently, Musk reportedly owns a small, prefabricated house near SpaceX’s facilities in Texas, showcasing his minimalist lifestyle.
Recent Trends and Changes
Musk’s net worth has fluctuated dramatically over the past few years.
- Peak Wealth: His wealth peaked in November 2021 at around $340 billion, but various market conditions and personal business decisions led to a significant drop.
- 2023 Recovery: By mid-2023, Musk regained his title as the richest person in the world, thanks to a resurgence in Tesla’s stock price and successful funding rounds for SpaceX and xAI.
- 2024 Developments: In early 2024, Musk’s net worth dipped again but rebounded to $244 billion by September. This fluctuation illustrates the impact of market dynamics, particularly in the tech sector.
