For Millennials. By Millennials.
Tesla CEO Elon Musk is the face of some high profile companies and his current net worth is estimated to be around $36.9 billion. Where did all this money come from and where does it all go? Well, let’s take a look into how he makes and spends his billions.
How Elon Musk Earns all that Money?
He grew up in South Africa and learned how to code quite early in his life. Musk sold his first video game for $500 at the age of 12. At 28, Elon Musk and his brother sold Zip2 for over $307 million. Zip2 was an online searchable business directory similar to yellow pages.
The South African is also the co-founder of online payment service PayPal. In 2002, eBay bought it for $1.5 billion and as a majority shareholder, he made $180 million from the sale. Elon Musk, Reid Hoffman and Peter Thiel took their share from PayPal’s sale and poured the money into various startups and funds.
Their investments include YouTube, Yelp, Linkedin, Uber, and multiple others. From the sales, Musk founded the space exploration company SpaceX and with around 54% stake. The privately-owned company is valued over $33.3 billion according to reports.
Elon Musk is known for his automaker an energy company, Tesla (2003). It beat everyone’s expectations with a $2 billion market capitalization soon after going public in 2010. Flash-forward two years, Tesla CEO Elon Musk makes it Forbes Worlds Richest list with a net worth of $2 billion. With all of these amazing projects, he has gathered an incredible fortune.
How he Spends his Fortune?
Elon Musk’s real-estate portfolio is valued over $70 million it includes several Bel Air estates. His $17 million mansion includes a home theatre, gym, personal library, and a wine cellar.
And of course, how can a car company owner not own some exotic cars. He paid almost $1 million for one-of-a-kind Lotus Esprit. it was used in a James Bond movie. A Jaguar E-Type Series 1 Roadster, also stands in his garage.
Musk’s road to becoming a rocket-scientist billionaire is rather impressive. If we end up on Mars someday, it could be because of SpaceX CEO Elon Musk.