One of the most consequential figures of the 21st century is Elon Musk. He started both PayPal and Tesla, as well as SpaceX, Neuralink, and The Boring Company. It’s only natural to question how the world’s richest man amassed his fortunes.
Fortunately, this article provides a wealth of data about the renowned tycoon.
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What is Elon Musk’s Daily Salary Like?
Just how much money does Elon Musk make in a day? Because Elon Musk’s fortune is tied to the performance of Tesla shares on Wall Street, his wealth and income grow in tandem whenever Tesla’s performance improves. His fortune increased by an incredible $33.8 billion in a single day in January as a result of the surge in Tesla shares.
In 2022, his fortune was estimated at over $273 billion. What this means is that he earns $432,000,000 every day, on average.
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Income and Asset Distribution of Elon Musk
Although Elon Musk’s fortune is based primarily on his stock holdings like that of many other billionaires, he has surpassed Jeff Bezos as the world’s richest person.
SpaceX is another major revenue generator, since the company charges both the government and private businesses for the privilege of sending satellites, ISS supplies, and even humans into space.
According to Approve, his wealth has increased by 129% annually since 2017, putting him on track to become a trillionaire in just two years. By 2024, his estimated net worth is $1.38 trillion.
When Musk sold PayPal to eBay in 2002, he made his first substantial fortune: around $165 million. The result was an increase of $2 billion to his wealth, which allowed him to join the ranks of the world’s billionaires for the first time in 2012.
In the year 2020, Musk surprisingly had a net worth of $27 billion. By the end of the year, his wealth had increased by $150 billion, largely due to the price of Tesla shares.
Exactly who is this Elon Musk person?
Do we know enough about Musk, the famous billionaire, even though we know a lot about him and his fortune?
If you’re curious about Elon Musk’s age, for instance, raise your hand. Musk is 50 years old, having entered this world on June 28th, 1971.
Since many of Musk’s current endeavours concern our collective future, he is widely regarded as a major figure in our time. For instance, Musk has stated that Neuralink anticipates human trials of its brain chip technology to begin in 2022. However, he did say that patients with serious spinal cord injuries will be the first to receive the chips.
The Boring Company, which constructs tunnels, is another manifestation of his futuristic outlook. The combined value of the two businesses has increased by the hundreds of millions. Musk’s entrepreneurial spirit is on full display in his two most recent projects.
Biographies of prominent people, like Elon Musk, are typical Google searches. His entire story, including his upbringing, career, wealth, and private life, is fascinating.
Instead of attending Stanford University, he and his brother Kimbal founded Zip2 in 1995 and went to California. Eventually, Compaq acquired the business in 1999 for $307 million. In the same year, Musk co-founded X.com, an internet bank that merged with Confinity to become PayPal the following year (2000). In 2002, eBay paid $1.5 billion to acquire the business.
As was previously established, Elon Musk is valued roughly $273 billion. It’s noteworthy to note that Musk is often complimented for being a tax-paying citizen. From 2014 to 2018, Musk forked up $455 million in taxes on earnings of $1.52 billion.
His projected 2021 tax liability was $12 billion, based on the sale of $14 billion in Tesla stock. Musk has frequently chastised celebrities who avoid paying their fair share of taxes, stating that doing so is essential.
Experts agree that his IQ is probably around 150, but they can’t find any official data to back that up. Considering that Einstein and Hawking both had IQs of 160, this is astonishingly high.
To Put it Another Way: How Much does Elon Musk Make Every Hour?
How much money does Elon Musk make per hour or per second is a frequently searched-for topic on the internet.
A CEO earns about $375 each second, or $22,500 per minute.
Just to put it into perspective, the median annual income in the United States is:
- Pay ranges between $51,000 and $70,000 yearly
- Regularly $4,250 – $5,830
- From $100-$300 Daily
It’s fascinating to watch Bezos and Musk trade places as the richest person in the world. Before the January surge in Tesla shares, Bezos had more wealth than anyone else. But Bezos got his old job back a month later. In March, however, Musk had more cash on hand and once again surpassed him.
If this competition keeps on, where will it lead? Both Bezos and Musk want to be the first extremely wealthy person to settle in space. Bezos’s Blue Origin is competing with Musk and SpaceX for a $2.9 billion Nasa contract. Musk has called Bezos, CEO of Amazon, a “copycat” for his plans to launch internet-carrying satellites into orbit.
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This Also Occurred When Amazon Bought the Self-Driving Taxi Business Zoox, Which is Similar to Musk’s Tesla.
Bezos has avoided criticising Musk personally, but he has taken aim at SpaceX’s principal mission—the colonisation of Mars—as a way to undermine Musk’s position. Bezos is “un-motivated” by the idea of going to Mars and instead wants to send people to the moon.
Musk discussed Blue Origin in a wide-ranging interview with The New York Times, perhaps hinting that Jeff Bezos, at age 57, is too old to make real progress.
