What is Elon Musk’s net worth and is he the richest person in the world?

ONLY 21 individuals in the world stand a chance at becoming the world’s first trillionaire – and Elon Musk is at the top of that list.

Since the start of his career, Musk has been able to amass an extensive fortune, and now many want to know how much he’s actually worth and if he is the richest man in the world.

Elon Musk is a billionaireAFP or licensors

What is Elon Musk’s net worth?

Elon Musk has achieved what many dream of – making billions.

As of 2022, his estimated net worth is $215.4billion.

This number comes from multiple business ventures including founding giant companies like Tesla and SpaceX.

His career in the business world dates back to 1995, when he and his brother Kimbal Musk started the software firm Zip2, which created internet city guides for the New York Times and Chicago Tribune.

Four years later, in February 1999, Compaq acquired the company for $307million in cash, giving Musk $22million for his seven percent share from the sale.

Later in 1999, he then co-founded X.com, one of the world’s first online banks, which merged with PayPal the following year.

A notorious workaholic, he doesn’t spend his money on lavish vacations or expensive hobbies.

Instead, the entrepreneur spends most of his free time at the office or in factories.

At the end of the day, he heads back to one of several Los Angeles mansions he owns.

Musk’s worth also comes from the stock market, which he has helped influence greatly over the years.

At the beginning of 2021, Musk made the price of Bitcoin break all-time records after he revealed Tesla invested $1.5billion in the cryptocurrency.

It soared beyond $48,000 in February 2021 on the cryptocurrency markets as investors raced to take advantage of an inevitable post-Musk surge.

Meanwhile, another tweet from Musk sent another cryptocurrency soaring after he described the once-mocked Dogecoin the currency as “the future”.

The coin, which began as a joke in 2013, surged in value by 1,250% in 2021 after a huge number of investors decided to simultaneously pump cash into the coin to make it a legit trading option.

In 2022, Musk hit headlines once more when he made an audacious attempt to buy Twitter.

On October 4, 2022, Twitter announced that it will accept Elon Musk’s multi-billion dollar offer to buy the company.

Musk previously backed out on the original Twitter deal over a bot dispute.

Is Elon Musk the richest person in the world?

With a career as successful as his, it is no surprise that Elon Musk is to date the richest person on the planet.

He currently sits at number one on the Forbes 400 list and at the top of Forbes World’s Billionaires List.

In 2021, Musk replaced Amazon founder Jeff Bezos as the world’s richest man.

Bezos is now second on the Forbes 400 list and sits second to Musk on the Forbes World’s Billionaires List.

How did Elon Musk make his money?

Musk began investing in space travel in 2001 when he tried to buy Russian ballistic missiles that he hoped could send payloads into space.

Instead, he set out to build his own rockets through his firm SpaceX.

The company has pioneered re-usable rockets and has successfully landed its Falcon 9 craft, a first for an orbital rocket.

SpaceX has won contracts to launch payloads into orbit for NASA and is now valued at more than $100billion, according to Business Insider.

Musk also has much grander plans including a colony of a million people living under glass domes on Mars.

Other companies Musk owns includes:

Tesla Motors (2004)
SolarCity (2006)
Hyperloop One
Boring Company

In 2018, Musk was forced to resign as Tesla chairman and pay a $20million fine after settling a deal with US regulators over tweets about taking the company private.

At the time, the US Securities and Exchange Commission said his claims were “false and misleading”.


Leave a Reply

Your email address will not be published. Required fields are marked *

Schedule an appointment

You can also contact us at 561 805 9494 or set up a scheduled an appointment

The world on one platform