How Rich Has Elon Musk Been During Every Decade of His Life?

Elon Musk is the richest individual on this planet proper now, based on Forbes. He has a ton of cash — round $232 billion. However Musk didn’t change into mega-rich in a single day. He made his enormous fortune over a few years by beginning up new corporations and investing cash in present ones.

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Let’s take a look at simply how wealthy Musk was throughout every decade, ranging from his childhood within the Nineteen Seventies, up till immediately.

Nineteen Seventies

Elon Musk was born in Pretoria, South Africa, in 1971. His household was very well-off, and he had a snug childhood. His mom, Maye Musk, was a profitable mannequin and dietitian, and his father, Errol Musk, was an engineer and actual property developer.

This set him up for future success. He benefited from his household’s substantial wealth, privilege and assets.

Eighties

Within the Eighties, the Musk household received even richer. Errol Musk bought an emerald mine in Zambia, which was extremely worthwhile. It’s estimated that the Musk household wealth grew to over $100 million through the Eighties.

​​The immense earnings from the mine supplied Elon Musk with monetary safety as he left South Africa to pursue increased schooling in Canada and later america. The household’s large wealth additionally gave him the liberty to take dangers as an entrepreneur. Nevertheless, Musk has mentioned that his household’s cash wasn’t a giant consider his success.

Nineteen Nineties

The Nineteen Nineties marked the start of Musk’s entrepreneurial journey. After dropping out of Stanford College, Musk and his brother Kimbal co-founded Zip2, a metropolis information software program firm.

Zip2 was acquired by Compaq for $305 million in 1999, leaving Musk with a considerable $22 million share of the proceeds.

2000s

The 2000s marked a interval of monumental progress for Musk’s wealth.

Musk co-founded X.com, a web-based financial institution, in 1999. Then, in 2000, X.com merged with its rival, Confinity, and in 2001, it was renamed to PayPal. In 2002, eBay acquired PayPal for a whopping $1.5 billion. Musk, the most important shareholder, walked away with $165 million from the sale.

Musk used $100 million of this cash to discovered SpaceX in 2002.

Concurrently, he turned an early investor in Tesla, which was based by Martin Eberhard and Marc Tarpenning. Over time, Musk assumed an more and more energetic function within the firm, in the end turning into its CEO in 2008.

By the tip of the 2000s, Musk’s internet price was estimated to be $1 billion, largely as a result of earnings from the sale of PayPal and the early progress of SpaceX and Tesla.

2010s

Musk made astonishing quantities of cash within the 2010s as his corporations, particularly Tesla, hit new heights. Initially, Tesla struggled to show a revenue and suffered some early losses. Tesla debuted on the NASDAQ in 2010 at $17 per share. By the tip of the 2010s, Tesla inventory was buying and selling at round $27 per share. Tesla’s success was fueled by surging demand for electrical automobiles and its modern manufacturing and advertising and marketing methods.

Musk additionally expanded SpaceX’s operations throughout this time, with the corporate securing a number of profitable NASA contracts.

For a lot of the 2010s, Musk’s internet price hovered between the $10-$20 billion mark. As Tesla offered extra automobiles and began to carve out a rising market share, Musk’s wealth ballooned. By 2019, his internet price had grown to round $22 billion.

2020s

The 2020s have been extremely profitable for Musk to this point. His internet price has continued to rise astronomically because of Tesla’s unrelenting progress. In 2020 alone, his wealth elevated by $142 billion. Tesla’s share worth surged to greater than $400 in late 2021, making Musk the richest individual on this planet. In November 2021, his fortune peaked at $320 billion. In December 2022, a dip in Tesla’s share worth introduced his internet price again down a bit.

As of 2024, Musk’s internet price is estimated at $232 billion.