Elon Musk Biography, Net worth and Business Profile

Elon Reeve Musk is an American entrepreneur, CEO, co-founder and business magnate who rated as the world richest man in the world with a net worth of US $181.1 billion.

He had a net worth of $27 billion in early 2022 and by the year's end his net worth had increased by $150 billion, largely driven by his ownership of around 20% of Tesla stock.

Find details of Elon Musk biography, business and net worth as published by Felix Omoko Blog.

Date of Birth: June 28, 1971

Source of Wealth: Tesla, SpaceX, Self Made

Residence: Austin, Texas

Citizenship: United States

Marital Status: Single

Children: 10

Education: Bachelor of Arts/Science, University of Pennsylvania

Business Titles

Founder, CEO and Chief Engineer of SpaceX

CEO and product architect of Tesla, Inc.

Founder of The Boring Company and X.com (now part of PayPal)

Co-founder of Neuralink, OpenAI, and Zip2

President of Musk Foundation

Chairman, Twitter

Elon Musk has divorced three times since 2000. His spouses include Justine Wilson (married. 2000; divorced 2008), Talulah Riley  (married, 2010; div. 2012), (m. 2013; div. 2016)

Early 2020, Musk had a net worth of $27 billion and by the year's end his net worth had increased by $150 billion, largely driven by his ownership of around 20% of Tesla stock. 

Who is Elon Musk?

Elon Reeve Musk is an entrepreneur, investor, and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI. 

He has an estimated net worth of around US$273 billion as of April 2022. Musk is the wealthiest person in the world according to both the Bloomberg Billionaires Index and the Forbes real-time billionaires list of 2022.

His siblings include: Kimbal (1972) and Tosca (1974). The family was very wealthy in Elon's youth; Errol Musk once said, "We had so much money at times we couldn't even close our safe".

Origin, Citizenship and Education

Musk was born to a Canadian mother and South African father, and raised in Pretoria, South Africa. He was enrolled at Queen's University and later transferred to the University of Pennsylvania two years later, where he received a bachelor's degree in Economics and Physics. 

He moved to California in 1995 to attend Stanford University but decided instead to pursue a business career, co-founding the web software company Zip2 with his brother Kimbal. The startup was acquired by Compaq for $307 million in 1999. The same year, Musk co-founded online bank X.com, which merged with Confinity in 2000 to form PayPal. The company was bought by eBay in 2002 for $1.5 billion.

Business Portfolios

In 2002, Musk founded SpaceX, an Aerospace manufacturer and space transport services company, of which he is CEO and Chief Engineer. In 2004, he joined electric vehicle manufacturer Tesla Motors, Inc. (now Tesla, Inc.) as chairman and product architect, becoming its CEO in 2008.

In 2006, he helped create SolarCity, a solar energy services company that was later acquired by Tesla and became Tesla Energy.

In 2015, he co-founded OpenAI, a nonprofit research company that promotes friendly artificial intelligence. 

In 2016, he co-founded Neuralink, a neurotechnology company focused on developing brain–computer interfaces, and founded The Boring Company, a tunnel construction company. Musk has proposed the Hyperloop, a high-speed vactrain transportation system.

Musk has been criticized for unorthodox and unscientific stances and highly publicized controversial statements. 

His father is Errol Musk, a South African electromechanical engineer, pilot, sailor, consultant, and property developer who was once a half-owner of a Zambian emerald mine near Lake Tanganyika. 

In 1995, Musk, Kimbal, and Greg Kouri founded web software company Zip2 with funds from angel investors. They housed the venture at a small rented office in Palo Alto. 

According to Musk, "The website was up during the day and I was coding it at night, seven days a week, all the time." The Musk brothers obtained contracts with The New York Times and the Chicago Tribune, and persuaded the board of directors to abandon plans for a merger with CitySearch. Musk's attempts to become CEO, a position held by its Chairman Rich Sorkin, were thwarted by the board. Compaq acquired Zip2 for $307 million in cash in February 1999, and Musk received $22 million for his 7-percent share.

In 1999, Musk co-founded X.com, an online financial services and e-mail payment company. The startup was one of the first federally insured online banks, and, in its initial months of operation, over 200,000 customers joined the service.

Under Thiel, the company focused on the PayPal service and was renamed PayPal in 2001.

In 2002, PayPal was acquired by eBay for $1.5 billion in stock, of which Musk—the largest shareholder with 11.72% of shares received $175.8 million.

In 2017, Musk purchased the domain X.com from PayPal for an undisclosed amount, explaining it has sentimental value.

Musk explains the planned capabilities of SpaceX Starship to NORAD and Air Force Space Command in 2019.

In 2001, Musk became involved with the nonprofit Mars Society. He was inspired by plans to place a growth-chamber for plants on Mars and discussed funding the project himself. 

With $100 million of his early fortune, Musk founded Space Exploration Technologies Corp., traded as SpaceX, in May 2002. As of 2021, he remains the company's CEO and also holds the title of Chief Engineer.

In 2017, SpaceX unveiled its next-generation launch vehicle and spacecraft system, Big Falcon Rocket, later renamed to Starship, which would support all SpaceX launch service provider capabilities.

In 2018, SpaceX announced a planned 2023 lunar circumnavigation mission, a private flight called dearMoon project.[90] In 2020, SpaceX launched its first crewed flight, the Demo-2, becoming the first private company to place a person into orbit and dock a crewed spacecraft with the ISS.

Net Worth

He is rated as the world richest man in 2021, 2022 with estimated net worth of over $200 billion according to Forbes.

FOB News