Elon Musk Net Worth and Salary: Elon Musk is a South African-born Canadian-American entrepreneur, inventor and investor that has a net worth of $176 billion. Though he wears many hats and is constantly topping his latest project, he’s currently famous for being as the CEO and CTO of SpaceX, CEO and chief product architect of Tesla Motors and chairman of both SolarCity. He’s also one of the wealthiest people on Earth.
As of this writing Elon Musk owns roughly 20% of Tesla’s outstanding shares and 48 percent of their privately-held SpaceX. In addition, he controls roughly $50 billion worth of unrealized gains on vested choices earned from a very ambitious and generous pay package negotiated in 2018.
1.Sold first company Zip2 to Compaq in 1999 for $340 million
2. Invested a part of his windfall to X.com
3. X.com became Paypal. Paypal sold to eBay in 2002 for $1.5b
4. Owns 48 percent of SpaceX that’s valued at $46 billion
5. Owns 22% of Tesla
6. Net Worth increased $142 billion in 2020
7. Once testifed that he his”cash poor” and has $500 million worth of debt
8. Once owned $100 million worth of real estate
9. Sold six LA houses in 2020
Tesla Salary: Elon takes no salary as CEO of Tesla. He instead has a highly unusual and potentially extremely lucrative bonus program tied to the company’s market cap landmarks. When the program was forged, Tesla was worth around $50 billion. There are 12 total landmarks based on $50 billion market cap increases. If Elon strikes each and every milestone (there is no time limitation ), he has the capability to earn $100 billion in bonuses.
Early Life: Elon Musk was Created June 28, 1971 in Pretoria, South Africa. Musk purchased his first computer at age 10 and taught himself how to plan. When he was 12 he left his very first applications sale–a match he made known as Blaster.
Success: Musk’s first business, Zip2 Corporation, has been an online city information. In 1999 a division of Compaq Computer acquired Zip2 for $307 million in funds and $34 million in stock alternatives. Also in 1999, Musk co-founded X.com, an online financial services/payments firm. An X.com purchase that the next year led to the production of pay pal, because it’s known now, and in 2002 PayPal was acquired by eBay for about $ 1.5 billion in stockexchange.
Musk founded his third organization, Space Exploration Technologies Corporation (SpaceX), in 2002 with the aim of creating space craft for business distance traveling. From 2008,” SpaceX was well-established and NASA awarded the company the agreement to take care of cargo transport for the International Space Station–together with plans for astronaut transport in the future.
Future was Tesla Motors, a vehicle company specializing in producing cheap, mass-produced electric automobiles. Tesla was set in 2003 by Martin Eberhard and also Marc Tarpenning. Elon together with Ian Wright and J.B. Straubel were also the company’s primary personnel and retroactively named co-founders.
Using a bet from the organization accepted by Daimler plus a strategic venture with Toyota, Tesla Motors established its initial public offering in June 2010, raising 226 million. In 2012, Musk and SpaceX made record once the business started its Falcon 9 rocket to space with a unmanned capsule. Back in 2013, he published a theory for a new sort of transportation known as the Hyper Loop, intended for travel at speeds over 700 mph to sail between leading towns. Instead of to railroads, the Hyper Loop would utilize tubes for transport. Musk states that the Hyper Loop could choose from 7 to ten years to become assembled, tested and ready for use.
Elon Musk Net Worth Details: For the writing, Elon Musk possesses 48 percent of rocket manufacturer SpaceX and 20% of Tesla. In addition, he owns 5-7 million vested Tesla selections.
He’s got reportedly pledged 1-1 million stocks as security contrary to his individual obligations which, according to records submitted as part of a defamation lawsuit, which includes around £ 500 million in personal credit card debt and bank loans.
In an 2019 legal residue, Musk clarified he actually is marginally cash-poor and that 99% of his private riches is attributable to shares in Tesla and SpaceX. The suit also demonstrated that Musk’s base wages at Tesla is 56,380. He reduces the wages in the majority of decades. Musk has £ 500 million value of credit card debt, $209 million of worth is currently owed to Morgan Stanley. At least 60 million of the Morgan Stanley debt is home mortgage-related. Roughly £ 213 million value of his debt will be owed to Goldman Sachs.
Nearly 50 percent of his Tesla stocks are pledged as collateral to Goldman and Morgan Stanley. He allegedly burned through all his fluid cash from previous small business earnings to launch SpaceX.
Tesla Compensation Plan: In January 2018, the Tesla board unveiled a compensation arrange for Musk that might probably be worth $100 billion. The master plan requires for Musk for as much as £ 100 billion in commodity within a few years in 12-tranches. The first chunk of alternatives can be given when Tesla hits a market cap of $100 billion (around double the value once the master plan was announced). From that point on, Elon understands another of the tranches whenever that the company climbs market cap by £ 50 billion.
Very long story short, if Elon managed to grow Tesla’s market cap to £ 650 billion, then he would bring in the total £ 100 billion.
When he does not accomplish the 12 tranches, he receives zero reimbursement. Quite simply, simply since Elon declines his base salaryhe gets no reimbursement at all until he hits £ 100 billion market cap, and the first landmark.
Personal Life: Elon has been married 3 times, twice to the very same female — celebrity Talulah Riley. He had been married to Canadian creator Justine Wilson from 2000 to 2008. They talk about five sons. He has also been romantically involved with celebrity Amber Heard and Canadian musician Grimes. Back in May 2020, Grimes and also Elon welcomed a baby boy named X Æ A-Xii.
Real Estate Holdings: Elon earlier possessed $100 million worth of genuine property in California by itself. In the Northern California city of Hillsborough he continues to have a 100-year-old, 16,000 square-foot apartment which sits on nearly 50-acres. He bought this house for £ 23.364 million in 20 17.
At Southern-California he at one time possessed 6 homes in the Los Angeles area of belair. His first belair footprint comprised a 20,000 squarefoot house he purchased for $17 million in 2012, a 7,000 square foot residence he bought for $20 million in 2015 and also a 9,300 squarefoot residence that he ordered in 2016 for about $24.25 million. Back in 2020 Elon alarmed the entire world by announcing his intention to market most his possessions, starting with his LA domiciles. True to his sentence that he jumped to sell off each dwelling. He sold four residences at once to one buyer in December 2020.
Summary: Elon Musk’s net worth is $176 billion. As of the writing, that makes him one of the most abundant individuals on Earth. Musk’s fortune comes with his 20% stake in Tesla along with his 48% bet in the privately-held SpaceX. Musk is somewhat cash-poor and he has approximately $500 million worth of debt owed into Morgan Stanley and Goldman Sachs. Half of his Tesla equity is pledged as collateral to those bank debts.