As Rudolph put it: "This is the richest guy anyone has ever seen. He ended 2020 with a net worth of $170 billion. As of That makes the car company worth more than Toyota, Volkswagen, Hyundai, GM and Ford combined. For reprint rights: Times Syndication Service, Jack Dorsey rues Elon Musk deal, says it all went south, : Is silver shining more than gold? There are pictures of him holding a scepter of gold on a throne of gold holding a cup of cold with a golden crown on his head. In a 2019 legal deposition, Musk explained that he actually is somewhat cash-poor and that 99% of his personal wealth is attributable to shares in Tesla and SpaceX. By 2008, SpaceX was well-established and NASA awarded the company the contract to handle cargo transport for the International Space Stationwith plans for astronaut transport in the future. Ultimately, Musk hopes to transform humanity into a multi-planetary species by establishing a self-sufficient colony on Mars, while simultaneously solving some of the biggest challenges back on Earth, including climate change and the perceived threat from advanced artificial intelligence. to learn digital transformation! The data tells us the 15 best-paid CEOs in tech have a combined annual income of over $83bn which is greater than the entire gross domestic product of hundreds of countries. He has continued to launch new businesses since then, including SpaceX, his aerospace design and development company, and Tesla Motors, the company behind a range of increasingly popular electric sports cars. Video, 00:03:45How billionaires pay less tax than you, Musk makes whistleblower joke with new Tesla item, More than 100 police hurt in French May Day protests, Fighter jets are roaring over my home in Sudan, MasterChef Australia host Jock Zonfrillo dies. In October 2022 Elon acquired Twitter for $44 billion. He instead has a highly unusual and extremely lucrative bonus plan tied to the company's market cap milestones. Because some would say that it's been nearly a decade since our estimate of $340 billion was published. : How to Check Your PAN Aadhaar Link Status Online? He bought this house for $23.364 million in 2017. Start your Independent Premium subscription today. The first chunk of options were granted once Tesla hits a market cap of $100 billion (roughly double the value when the plan was announced). The fundraising round increased SpaceX's private valuation to $46 billion, up from $36 billion. The second factor was an increased valuation of SpaceX which was officially confirmed on August 18, 2020. That's an increase of almost $10 billion from the previous day, thanks to a jump in Tesla shares on Thursday. About half my money is intended to help problems on Earth and half to help establish a self-sustaining city on Mars to ensure the continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens and we destroy ourselves.. If Elon cashed out all of his stocks & assets today he would have approximately $217,000,000,000 (US Dollars) in his bank account. Today, they are worth close to $900. The coronavirus pandemic has meant Amazon benefited from stronger demand for both its online store and cloud computing services. In 2013, he released a concept for a new form of transportation called the Hyperloop, intended for travel at speeds greater than 700 mph to commute between major cities. Elon Musk loses $12.6 billion in a single day as Tesla shares tumble and SpaceX rocket explodes Last Updated: April 22, 2023 at 11:30 a.m. Imagine as much gold as you think a human being could possess and double it. According to the latest Forbes billionaires list, Musk is the new No. The bulk of Mr Musk's tax payment, to be made next year, will go to federal tax authorities, but the state of California, where Tesla and Mr Musk have been based until recently, will also claim a portion. This is the lowest since November 2020. Explore in 3D: The dazzling crown that makes a king. Elon Musk sells another $3.58 bn worth of Tesla stock, purpose unknown US government questions Tesla over Elon Musk's full self-driving tweet Tesla Cybertruck won't see mass production until 2024, says Elon Musk Elon Musk's Tesla denies terminating employees for forming a union Tesla's lawyers have opposed the request in Earlier this month, Tesla announced in a US Securities Exchange Corporation (SEC) filing that it was moving its corporate headquarters to Texas - a plan Mr Musk had hinted at in media interviews for several months, citing unhappiness with the Californian state government laws and criticising the high cost of living in Silicon Valley. Join thought-provoking conversations, follow other Independent readers and see their replies. Tesla and Twitter CEO Elon Musk is likely to testify in a lawsuit in the US that blamed Autopilot for a fatal crash in 2018. In 2018, Musk revealed that he planned to finance SpaceXs Mars plans by selling a major stake in Tesla at some point in the future. On July 13, 2020 when Elon's net worth hit $80 billion for the first time, $15 billion came from SpaceX and $65 billion came from Tesla. Under current law, a gain is only taxed if it is "realized" when its owner sells the asset and makes a profit. This article contains content provided by Twitter. The Tesla and SpaceX entrepreneur was pushed into the top slot after Tesla's share price increased on Thursday. End of twitter post 2 by Elizabeth Warren, How billionaires pay less tax than you. Mr Bezos is also using his personal wealth to fund space exploration, The secret mine that hid the Nazis' stolen treasure. Their primary product was an internet-based guide for cities, that was geared towards the publishing industry, particularly newspapers. A year ago, his total net worth peaked at $340 billion. He has since moved to Texas, where he will pay no state income taxes, in order to be closer to the development of SpaceXs Mars-bound spacecraft Starship. The inflation-adjusted number you typically see for William the Conqueror is $300 billion. Rockefeller is certifiably the first person to ever achieve an actual-value (aka not inflation-adjusted or estimated) personal fortune of $1 billion. ", My plan is to use the money to get humanity to Mars and preserve the light of consciousness. On November 17, 2020 Elon's net worth topped $100 billion for the first time. If Musks wealth was ranked alongside the GDP of every country in the world, he would be the 50th richest country in the world, according to figures from the International Monetary Fund. The plan called for Musk to receive up to $100 billion in stock options over a decade in 12-tranches. On January 1, 2020, Elon's net worth was $28 billion. He ended 2020 with a net worth of $170 billion. On July 13, 2020 when Elon's net worth hit $80 billion for the first time, $15 billion came from SpaceX and $65 billion came from Tesla. In August 2020 two important factors pushed Elon's net worth above $90 billion for the first time. That means Elon Musk is $5 billion (plus $1) away from being the richest person ever. Elon along with Ian Wright and J.B. Straubel were the company's first employees and retroactively named co-founders. That's an increase of almost $10 billion from the previous day, thanks Get browser notifications for breaking news, live events, and exclusive reporting. He was married to Canadian author Justine Wilson from 2000 to 2008. Also in 1999, Musk co-founded X.com, an online financial services/payments company. The billionaire polymath is best known as the boss of electric car company Tesla and private rocket firm SpaceX, however he also heads brain-tech startup Neuralink and The Boring Company, which aims to solve traffic in cities by digging tunnel networks. It is simply not 100% factual that there was ever an actual King Solomon or that he had any wealth, at all. Market data provided by ICE Data Services. A very impressive fortune no doubt, but clearly not enough to make him the richest human being of all time. Elon has already surpassed Andrew Carnegie's inflation-adjusted $310 billion fortune that stood as the second-largest fortune in modern history for a little over 100 years. If he did exist, there's definitely not any solid evidence that his fortune was actually large enough to make him the wealthiest human being of all time. A guy in 1935 who had $1.5 billion? True to his word, he proceeded to sell off each home. In August 2020 two important factors pushed Elon's net worth above $90 billion for the first time. So who could buy more things in their lifetime? New Twitter feature: Elon Musk opens up earning opportunity for users, calls it a major win-win | Mint Get Mint Premium at just 2949 Claim Now! Read about our approach to external linking. 1. If you believe the biblical legend of King Solomon, he was the richest human being of all time, worth the modern equivalent of trillions of dollars. On November 1st, 2021, when Tesla's market cap topped $1.2 trillion, Elon Musk's net worth was $335 billion. A new website will you give you these exact numbers, as they apply to Bezos and 14 other tech moguls. From that point on, Elon received another of the tranches every time the company increases in market cap by $50 billion. See Musk's earnings in real time and how his salary stacks up against other automotive and business heavyweights. WebOn Monday, Elon Musk ended the day with a net worth of $335 billion. (modern). He was most likely in Texas, where his company SpaceX was preparing for a rocket launch. Some lawmakers want to tax it. First published on October 29, 2021 / 10:15 AM. If you re-calculate Rockefeller's net worth taking into account his wealth as a percentage of American GDP plus various other factors (like being on the gold standard at the time), it's not unscientific to drastically boost Rockefeller's estimated present net worth equivalent. At that level the company's total market cap was $350 billion. That prompted Senator Warren to tweet: "Let's change the rigged tax code so 'The Person of the Year' will actually pay taxes and stop freeloading off everyone else.". He believes the legend is a complete myth. We welcome all corrections and feedback using the button below. Most populous nation: Should India rejoice or panic? Then again, when you have so much money, it may just not matter: Musks net-worth is almost 20 times the entire budget of the county he sued. Elon ended 2022 with a fortune of $134 billion, a full $200 billion drop from a year prior. His net worth peaked at $1.5 billion. WebOur Elon Musk salary calculator works out how long it would take him to earn your annual salary. BBC business reporter, New York Elon Musk, the world's richest person, has tweeted he will pay $11bn (8.3bn) in tax for this year. Many of America's wealthiest citizens don't take a directly taxable salary. Read about our approach to external linking. Mr Musk's electric car company Tesla has surged in value this year, and hit a market value of $700bn (516bn) for the first time on Wednesday. He has since sold off most of his homes and re-paid this mortgage debt. Elon Musk is a South African-born Canadian-American businessman, inventor and investor who has a net worth of $164 billion. What would On this day Elon eclipsed Jeff Bezos as the richest person in the world for the first time. Elon previously owned $100 million worth of real estate in California alone. The tycoon's fortunes have been buoyed by politics in the US, where the Democrats will have control of the US Senate in the forthcoming session. Read Next: Elon Musk's Net Worth Plummets $13B In A Day As Tesla Stock Slides Photo: Shutterstock Rejuvenate Your Portfolio With Options! Musk's net worth is currently at $178.6 billion. When he became the 10th emperor of Mali, Mansa Musa proceeded to establish the world's most-lucrative salt and gold production systems. He is by far the richest person in the world , topping the #2 person Jeff Bezos by around $140 billion. Please enter valid email address to continue. Musk added $25 billion to his net worth yesterday, bringing his total fortune to $174 billion according to Bloomberg Billionaires Index. Remember when Elizabeth Warren helped billionaires calculate how much they would pay under her ultra-millionaire tax proposals, and it was pointed out that under her plan, even after tax, Bill Gates would still be a billionaire 60 years from now? You may want to read Twitters cookie policy, external and privacy policy, external before accepting. And for what it's worth not that I like referring to them but Forbes has already declared Elon as the richest person in history. Elon Musk was born June 28, 1971 in Pretoria, South Africa. 144bn puts him on track to become one by 2026, about two minutes to earn the average US yearly wage, he sued local authorities after he was forced to shut it, particularly his pressing mission to, er, colonize Mars. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. On December 13, 2022, Elon Musk lost his title of richest person in the world when his $165 billion net worth was overtaken by. Elon Musk's Net Worth Tops $100 Billion For The First Time, Morgan Stanley Analyst Thinks Elon Musk Will Become A Trillionaire Thanks To SpaceX, Sold first company Zip2 to Compaq in 1999 for $340 million, Invested a portion of his windfall into X.com, X.com became Paypal. Submit a correction suggestion and help us fix it! Income tax calculator Jack Dorsey rues Elon Musk deal, says it all went south Business/ Bloomberg / Apr 30, 2023, 08:17 IST Twitterco-founder Jack Dorsey once a supporter of Elon Musks $44 billion acquisition of the site is now offering sharp criticism of the new ownerand his handling of the deal. Columbia University professor and tax expert, Robert Willens, said that was likely to be a fair comment from Mr Musk, who had made himself liable for "mind-boggling amounts of taxable income" in 2020, through exercising stock options that would otherwise have expired and been worthless. Elon Musk ended the day with a net worth of $335 billion, Andrew Carnegie's inflation-adjusted $310 billion fortune, Wikipedia's list of the wealthiest historical figures, Elon Musk's Net Worth Just Topped A Quarter Trillion Dollars, Elon Musk's Net Worth Hits $290 Billion As Tesla Soars Above $1 Trillion Market Cap, Elon Musk Is Perilously Close To Losing His Status As The Richest Person In The World. Jeff Bezos net worth of $144bn puts him on track to become the worlds first trillionaire by 2026. Before any of these ventures, Musk gained notoriety in Silicon Valley as the co-founder of online payments platform X.com, which went on to become PayPal. His net worth tumbled $7.7 billion on Tuesday after Tesla shares had their steepest one-day loss since October.. The affair reportedly led to Sergey filing for divorce from his wife of four years, Nicole Shanahan. Six tips for success from the richest person on the planet. Elon takes no salary as CEO of Tesla. By age 12, he'd coded and sold his first computer game, Blastar. The company a text messaging company says it uses data on salary, bonuses, earnings from equity and other forms of compensation from 2019 SEC filings to let you calculate just how quickly people like Mark Zuckerberg of Facebook, Susan Wojcicki of YouTube and Reed Hastings of Netflix could pay off all of your expenses. Expected electric vehicle tax credits would benefit Tesla, "which continues to have an iron grip on the market today", he added. October 29, 2021 / 12:09 PM Elon hit every single milestone and therefore qualified to receive all $100 billion from the bonus plan. Musk was worth $302 billion as of Thursday, according to the Bloomberg Billionaires Index. Paypal sold to eBay in 2002 for $1.5b, Owns 48% of SpaceX which is valued at $46 billion, Once testifed that he his "cash poor" and has $500 million worth of debt, Once owned $100 million worth of real estate. Dont have vacation homes or yachts or anything like that, he stated in a short Twitter thread republished from 2018. First, in mid-August Tesla shares hit an all-time high of $1,900. On Monday, Elon Musk ended the day with a net worth of $335 billion. Tech moguls are now so rich that its not unusual to see shocking comparisons that demonstrate exactly how egregious their salaries are. At that point he surpassed Bill Gates to become to the second-richest person in the world for the first time. Read about our approach to external linking. Did this woman die because her genitals were cut? For example, how do you calculate the modern-equivalent of William the Conqueror's net worth? Even so, that deal among Congressional Democrats isn't final. The owner of a business which has only just made its first annual profit and is still a minnow compared to the likes of Toyota - or Amazon - is now the world's richest person. Video, 00:03:45, The secret mine that hid the Nazis' stolen treasure. He dropped out of Stanford University, however, to become a part of the internet boom. Musk bought his first computer at the age of 10 and taught himself how to program. In May 2020, Grimes and Elon welcomed a baby boy named X A-Xii. When the plan was forged, Tesla was worth around $50 billion. Read about our approach to external linking. ET Elon Musk has overtaken Jeff Bezos to become the worlds richest person, having seen his wealth rise from $25 billion to nearly $200bn in less than a year. Who Is Eligible for Pradhan Mantri Rozgar Yojana? Now, if you use an inflation-adjustment calculator with the number $1.5 billion and the approximate year 1935, you land on around $30 billion. What Would It Take For Elon Musk To Become The World's First Trillionaire? Image by Freepik. That's what all the accounts are trying to communicate.". With those numbers in mind, here's a statement that some people will find controversial: If Elon Musk's net worth increases by $5 billion + one dollar, he will be the richest person in history. As of this writing, Elon Musk owns 43% of rocket maker SpaceX and 24% of Tesla. 2023 BBC. According to an analysis completed by Bloomberg, Elon Musk is by far the wealthiest person on the planet, with a total net worth in September 2022, of $264 billion dollars. At the second place, Amazon founder Jeff Bezos, however, did not add much to his net worth. Meet the meme-loving magnate behind SpaceX and Teslapublished in 2021. The BBC is not responsible for the content of external sites. Under the plan, tradable assets such as Tesla's stock in a billionaire's portfolio would be valued annually. That's 1,000 years before Jesus walked the earth. The brothers sold Zip2 to Compaq in 1999 for $307 million in cash and $34 million in stock. This Twitter post cannot be displayed in your browser. / MoneyWatch. Or a guy in 2021 who has $300+ billion? As of my knowledge cutoff date of September 2021, Elon Musks net worth was estimated to be around $198 billion USD, according to Forbes. This made him one of the richest people in the world, and his wealth has continued to increase rapidly over the past few years, largely due to the soaring stock prices of his That occurred in November 2021, when Tesla's stock price hit a record Trump motion to declare mistrial in E. Jean Carroll lawsuit denied, Tornado hits Virginia Beach, likely damaging hundreds of homes, U.S. to let Afghan evacuees renew temporary legal status, Texas man who lost wife and son in shooting shares story, NYPD officer Troy Patterson dies 33 years after being shot in robbery, Supreme Court to hear case that could curb power of federal agencies, The weirdest items passengers leave behind in Ubers, MasterChef Australia host Jock Zonfrillo found dead at 46, Democrats consider billionaires income tax to help pay for spending bill. In October 2021 Tesla's market cap broke $1 trillion for the first time. Calculate Now. All net worths are calculated using data drawn from public sources. But Elon Musks net worth has fallen a lot from the $340 billion peak he reached in November 2021. 100x Options Profit Calculator CZ has a net worth of $28.2 billion. Elon Musk, the founder and CEO of the company, currently has a net worth estimated at $300bn, which makes him the richest person in the world. Indias growth more stable on healthy macros: Finance ministry, Adani Ports starts $130 million buyback of debt securities, Not cheating if man had told live-in partner he was married: Calcutta HC, From free cylinders to UCC: Key promises in BJP's K'taka manifesto, What India's 24 lakh ponds, wells and tanks add up to, Can dissolve marriage on ground of irretrievable breakdown: SC, Live: Sidhu meets wrestlers as protest enters Day 9, Live: PM has to understand K'taka poll not about him, says Rahul, The hijab is a liberation from capitalisms beauty myth, Covid-19: India sees 27% decline in weekly cases, 14 messaging apps banned by govt for spreading terror: Details, 'I wanted to prepare him differently': How Yashasvi raised his game for IPL 2023, Terms of Use and Grievance Redressal Policy.

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