Elon Musk Net worth 2021: Biography & Net worth

Elon Musk is an entrepreneur and American businessman of South African descent who founded X.com in 1999 (which later became PayPal), SpaceX in 2002, and Tesla Motors in 2003.

When he sold Zip2, company, to a division of Compaq Computers in his late twenties, Musk became a multimillionaire.

Elon Musk – Biography

  • Full Name: Elon Reeve Musk
  • Gender: Male
  • Date of Birth: Austin, Texas
  • Marital Status: In Relationship
  • Age: 49
  • Residence:
  • Nationality: United State
  • Source of Wealth: Tesla, SpaceX, Self Made
  • Children: 7
  • Education: Bachelor of Arts/Science, University of Pennsylvania

Elon Reeve Musk is an entrepreneur, engineer, and industrial designer. He is SpaceX’s founder, CEO, CTO, and chief designer; an early investor, CEO, and product architect of Tesla, Inc.; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI. Musk is a billionaire and one of the world’s wealthiest people.

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Musk was born in Pretoria, South Africa, to a Canadian mother and a South African father. He studied at Pretoria University for a short time before moving to Canada at 17 to study at Queen’s University. Musk departed Canada in 1992 to study business and physics at the University of Pennsylvania.

He received a bachelor’s degree in economics, earning a second bachelor’s degree in physics. In 1995, he moved to California to attend Stanford University but instead chose to pursue a business career, co-founding Zip2 with his brother Kimbal.

In 1999, Compaq purchased the company for $307 million. Musk co-founded online bank X.com in the same year, which merged with Confinity in 2000 to form PayPal, which eBay later purchased for $1.5 billion in 2002. In 2002, Musk moved to the United States.

Musk has long believed that humanity must evolve into a multiplanet species to survive. He was, however, unhappy with the high cost of rocket launchers. He created Space Exploration Technologies (SpaceX) in 2002, intending to make more affordable rockets.

elon musk

The Falcon 1 (which was first launched in 2006) and the giant Falcon 9 (first launched in 2010) were the company’s first two rockets, both of which were planned to be much less expensive than rival rockets.

The Falcon Heavy (first introduced in 2018) was made to carry 117,000 pounds (53,000 kg) to orbit, nearly almost double the weight of its closest rival, the Boeing Company’s Delta IV Heavy, a quarter of the cost.

According to SpaceX, the Super Heavy–Starship system is the successor to the Falcon 9 and Falcon Heavy.

Musk had long been fascinated by the possibilities of electric vehicles. He rose to become one of the most prominent investors in Tesla Motors in 2004, an electric vehicle company founded by entrepreneurs Martin Eberhard and Marc Tarpenning.

Tesla unveiled its first vehicle, the Roadster, in 2006, with a range of 245 miles (394 kilometers) on a single charge. It was a sports car capable of driving from 0 to 60 mph (97 km/h); unlike other previous electric vehicles, this one charge in less than four seconds, which Musk felt were stodgy and uninteresting.

The company raised $226 million in its initial public offering in 2010. Tesla launched the Model S sedan two years later, which received critical acclaim for its performance and design.

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Elon Musk – Net worth

According to Forbes, Elon Musk Estimated Net Worth is $155.0Billion.

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Last year, Elon Musk set records for one of the longest wealth accumulation streaks in history. The reversal has begun, and it is swift.

Since Monday, Tesla’s CEO has lost $27 billion as the automaker’s stock has fallen in the tech stock selloff. His $155.0 billion net worth keeps him in third place on the Forbes Billionaires Index, but he’s now nearly $24.3 billion behind Jeff Bezos, whom he surpassed as the world’s wealthiest individual just a week ago.

Musk’s tumble only emphasizes the incredible pace at which he has risen. In 2020, Tesla’s stock soared 743 percent, raising the value of his interest and freeing billions of dollars in options through his historic “moonshot” compensation plan.