Elon Musk Net Worth : Career & Houses

The business magnate and CEO of SpaceX, Elon Musk, has a net worth of a whopping 151.1 billion USD.

Elon Musk is best known for being the current third richest person in the world. However, 50 years old is an excellent entrepreneur and somewhat of an internet sensation.

He is the founder, CEO, and Chief Engineer at the aerospace manufacturer SpaceX, an investor, CEO, and Product Architect of the electric vehicle and cleantech company Tesla, and the founder of the infrastructure and tunnel construction company, The Boring Company.

Elon Musk at the 2015 Tesla Model Annual Meeting.
Elon Musk at the 2015 Tesla Model Annual Meeting.

The list of successful business ventures Musk has had endless. The half Canadian and half South African man has built a tech empire and sits on the throne himself.

Quick Facts

Following are some quick facts about the business mogul.

Full Name Elon Reeve Musk
Net Worth 151.1 USD (as of June 2022)
Date Of Birth June 28, 1971
Gender Male
Age 50 years old
Birthplace Pretoria, South Africa
Religion Atheist, Agnostic
Ethnicity White
Nickname Elon Musk
Nationality American, South African, and Canadian
Residence Boca Chica, Texas
Education Bachelor’s degrees in economics and physics
Educational Institution The University of Pretoria, Queen’s University, and University of Pennsylvania (BS and BA 1997)
Zodiac Sign Cancer
Father’s Name Errol Musk
Mother’s Name Maye Musk
Siblings Tosca Musk (sister), Kimbal Musk (brother), and Lyndon Rive (cousin)
Height 180cm or 5’11” feet
Weight 180.7 lbs. or 82 kg
Built Athletic
Shoe Size US shoe size 13
Skin Tone Fair
Hair Color Black/Grey
Eye Color Moss Green
Sexual Orientation Straight
Marital Status Married
Spouses Justine Musk (2000-2008), Talulah Riley (2010-2016), and Grimes (2018-present)
Children Seven
Source of Wealth SpaceX, Tesla. inc, the boring company, and others
Social Media Twitter
Profession Businessman and Engineer

Interests
Reading Books, Gaming, and Watching Sci-fi Movies

Last Update
June 2022

Elon Musk: Net Worth and Income

The businessman has several sources of income. Most of it is from his shares in the companies he has built.

In 2019, Musk was ranked the highest-paid CEO of Tesla. Inc as they paid him $11 billion for his compensation plan.

He owns 21% of Tesla. Tesla’s net worth is $45 billion. This makes Musk a fortune, although he refuses to accept his salary as the CEO.

Moreover, his investments in “the boring company” and Tesla make are part of the reason for his huge fortune.

Another less known source of income Elon has is his bitcoin investment. He famously wagered $1.5 billion in Tesla’s corporate cash on Bitcoin.

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Elon Musk’s Houses, Cars, and Others

Houses

The billionaire, to nobody’s surprise, has an extensive portfolio of houses. He has invested over 10 million USD in real estate.

Most of Musk’s real estate lies in the Los Angeles area but is not limited to it.

Elon’s Bel Air Mansion

The first mansion owned by Musk that is known to us is his 2012 Bel Air real estate. He started by renting it in 2010, where he lived with his five sons, and eventually bought it two years later.

He purchased the villa for $17 million; however, its price has increased to $23 million.

The mansion runs over 20,248 square feet of land and has a total of seven bedrooms. Facilitated with a two-story library, the house is perfect for a bookworm like him.

Elon Musk's Bel Air mansion.
Elon Musk’s Bel Air mansion.

Some unique features of the house include a brick ceiling in the kitchen, a tennis court, a huge backyard pool, and a scenic view of the exclusive Bel-Air Country Club.

Elon’s $6.75 million house

The businessman then splurged on another house on the same street.

He paid around $6.75 million for the 2,756 square feet, ranch-styled home.

The house facilitates three bedrooms and three bathrooms. Interestingly, actor Gene Wilder lived on it for over thirty years.

The house Elon used as a school for his children.
The house Elon used as a school for his children.

The backyard of the mansion also overlooks the Bel Air country club.

However, this house was not used for residence. Instead, Elon used the mansion as a school for his children.

More Bel Air Mansions

Firstly, In 2015, he purchased another ranch house for an estimated $20 million.

Elon then bought a mansion on the adjacent street in 2016. The mansion was still in construction when he bought it. It had been that way since 2011.

Musk splurged a total of $24.25 million on the house.

Again, in 2018, the billionaire bought a mansion next door to his previous ones. The home is a colonial-styled, two-story building with a white brick facade; it looks almost like a castle. He spends around $4.2 million on the house.

Lastly, he purchased another $4.3 million Los Angeles mansion but sold it as it was unkept.

The boomerang-shaped house

The billionaire previously owned a one-of-a-kind, boomerang-shaped house. The house lies in Brentwood, California, about 15 miles northwest of downtown Los Angeles.

Musk owned the house in 2014 alongside his then-wife, Talulah Riley. The couple apparently paid $3.7 million for the mansion.

Elon's 2014 Boomerang shaped home.
Elon’s 2014 Boomerang-shaped home.

With hedges surrounding the home for privacy and floor-to-ceiling windows, the house is a true luxury.

However, in August of 2013, Musk sold it for $4 million.

Cars

Being the CEO of Tesla, the billionaire doesn’t play when it comes to his car collection. Some people go as far as to describe his collection of cars as “the world’s best.” Following is the list of some luxurious vehicles the man owns.

1978 BMW 320i

Elon’s first car was the 1978 BMW 320i which he has bought for $9,800. This shows the humble background Musk came from. The car is quite popular because of its good looks, build quality and engineering.

However, the one Elon owed was crashed by an intern for Musk’s very first company, Zip2. The wheels of the car fell off in the accident.

Tesla Model S Performance

Built for speed and range, Tesla Model S performance is a combination of comfort and style. Elon once revealed that this is the car he drives the most. Its current market price is about $119,990.

Elon Musk's Tesla Model S Performance.
Elon’s Tesla Model S Performance.

Tesla Model X

This car is probably the face of Tesla. Inc, with its dramatic gullwing doors.

The business mogul is said to drive his Model X SUV while traveling with his kids.

2021 Tesla Cybertruck

The latest 2021 Tesla Cybertruck made several headlines when it was released. So it isn’t surprising that the billionaire drives one himself.

Just by looking at the vehicle, we know that it is the face of futuristic cars. It is designed to boast a built-in bed ramp and has other interesting features.

2021 Tesla Cybertruck.

Although its design was a bit controversial, the geometric shape and sharp edges were loved by sports car lovers.

1967 Jaguar E-Type

Here is a car Elon owns that isn’t Tesla. This was his dream car before he started manufacturing his own. The British sports car costs about $83,300 but varies on the coverage selected.

However, the billionaire’s experience with the vehicle has not been so great. When he earned enough to purchase a 1967 Jaguar finally, the car broke down on his way from the dealership. Musk once described the car as a “bad girlfriend.”

1967 Jaguar E-Type.
1967 Jaguar E-Type.

Musk owns several other luxurious cars, namely, the 1997 McLaren F1, the 1976 Lotus Esprit “Wet Nellie,” the 2012 Poeche 911 Turbo, the 2006 Hamann BMW M5, the 1920 Ford Model T, and others. The list goes on and on.

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Elon Musk: Lifestyle and Vacation

Lifestyle

The billionaire business magnate’s life is as interesting as his personality. He is known for his notoriously punctual and optimistic schedule.

He has several businesses to run; hence, the businessman is a busy man. However, he has found a way to balance his work life and personal life somehow.

He wakes up at 7 am and has said in the past that he likes to get six to seven hours of sleep; however, unlike most of us, Musk doesn’t function well when he has had enough sleep.

Because the man is so busy, he skips breakfast almost every day, but he enjoys an omelet when he does have one.

In a Reddit ask me anything, Elon revealed that the most important part of his day is showering; without it, he doesn’t feel right in his headspace.

Being the family man Musk is, he then drops the kids to school himself.

He works 80 to 100 hours per week and invested 90% of his time in SpaceX.

However, this could not have been possible if Musk wasn’t an efficient multi-tasker.

Musk once confessed that his busy schedule hardly ever leaves him time to focus on his health and nutrition.

Like a true businessman, he frequently gets into a flow state where hours pass by without realizing it because he is so focused on his work.

About his likings, we know that the man loves diet coke and claims the beverage contains some infernal ingredient. Other than that, he has a liking for French food and barbeque. However, he is not a huge fan of alcohol but enjoys whiskey or wine from time to time.

After a busy day of work, Musk likes to relax and read books or watch anime at night.

Vacation

Elon Musk’s idea regarding vacation is quite controversial. He once famously said, “Vacations will kill you.”

He told Record Decode to run a business successfully, and he will have to work 100 hours a week, leaving no place for vacations.

But his fear of vacations has a reason. He has only taken vacations twice in his career, and both the time something bad happened.

In 2015 on Danish television, he recalled, “The first time I took a week off, the Orbital Sciences rocket exploded and Richard Branson’s [Virgin Galactic] rocket exploded in that same week.” The second time, his rocket exploded. So, Musk has learned his lesson never to take a vacation.

Elon Musk: Charity

Given the amount of money, Musk has, the list of charitable causes he supports is rather short. Forbs estimated that he had donated around $100 million to the charity in his entire career, which hardly makes 1% of his income.

On June 15, 2018, Musk tweeted that he has already sold more than $100 million worth of Tesla stock for charity and would sell a similar amount “every few years.”

Moreover, he launched the Musk Foundation in 2002 and ever since has donated over $25 million to the foundation. The Musk foundation advocates using renewable energy, Science and engineering education, and developing safe artificial intelligence to benefit humanity.

Since 2002, the Musk Foundation has made over 350 contributions, out of which $17 million, went to nonprofit establishments focused on scientific research and education.

For instance, a few million went to Ad Astra, the experimental private school on the SpaceX campus that Musk cofounded in 2014, which was attended by his children and some children of SpaceX employees.

However, The Musk foundation’s biggest donation to date has to be the $10 million donations to YC Org, an organization whose goal “is to further scientific research that will ultimately be made freely available to the public.”

Some other beneficiaries of his donations include the University of Pennsylvania, the Wikimedia Foundation, Kitchen Community, the Future of Life Institute, the Global Learning XPrize, and the Sierra Club.

Elon Musk: Career

Musk started his career as a businessman in 1995 when he started his company called the Zip2 Corporation with his brother Kimbal Musk.

He sold the company in 1999 to the Compaq Computer Corporation for $307 million in cash and $34 million in stock options.

After that, He used the money to found x.com, an online financial services/payments company. Later, the company changed to PayPal that we know today.

Musk became a billionaire in 2002 when eBay purchased PayPal for $1.5 billion in stock.

Musk’s third company made him the most money. He founded the Space Exploration Technologies Corporation, or SpaceX, in 2002, intending to commercialize space travel. NASA joined hands with SpaceX in 2008.

Elon Musk at Tesla's gas station.
Elon Musk at Tesla’s gas station.

On May 22, 2012, Musk and SpaceX made history by being the first private company to send a spacecraft to the International Space Station.

In 2003, Musk co-founded Tesla Motors and worked as CEO and product architect of the company.

The company manufactures affordable, mass-market electric cars along with battery products and solar roofs.

After Musk made a strategic partnership with Toyota, he launched Tesla’s first public offering in June 2010; the project was heavily successful and generated $226 million.

In April 2017, Tesla surpassed General Motors to become the most valuable U.S. car manufacturer.

In August of 2016, Musk also joined hands with a solar energy company called the SolarCity Corp. and made a 2.6 billion dollar deal.

Finally, In January of 2017, spreading his business, Musk launched the boring company, an establishment for infrastructure and tunnel construction.

Three Facts About Elon Musk

  • At 12 years of age, Elon made and sold a video game to the Office Technology magazine for $500. The game was called “Blaster” and a space flight game.
  • Elon is a huge anime fan; likewise, his favorite anime is the movie called “your name” and the Ghibli film “Princess Mononoke,” he even jokingly said to refer to him as “Elon chan.”
  • Elon taught himself to code at a very young age and later made his very first video game at ten.

FAQs

What is Elon Musk’s IQ?

Elon has a 155 IQ, estimated according to his earlier aptitude tests, ability to read and process technical information.

What is Elon Musk’s salary?

Elon’s salary keeps on fluctuating frequently. Similarly, his salary in 2020 was $11 billion.

Why is Elon Musk famous?

Elon Musk is famous for being one of the richest people in the world. He founded SpaceX, Tesla. Inc and others.

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