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BLOOMBERG BILLIONAIRES INDEX
VIEW PROFILES FOR EACH OF THE WORLD’S 500 RICHEST PEOPLE, SEE THE BIGGEST
MOVERS, AND COMPARE FORTUNES OR TRACK RETURNS.
❮ # 1 Bernard Arnault # 3 Jeff Bezos ❯
# 2 ELON MUSK $179B
RANDOM FACT: SPACEX COMPLETED ITS FIRST CREWED VOYAGE TO THE SPACE STATION IN
2020.
Overview Latest news Net worth summary Biography Relative value
OVERVIEW
Musk is the chief executive of Tesla, the world's most valuable carmaker. The
Austin, Texas-based company sells electric vehicles and home solar batteries.
Musk's also the chief executive of SpaceX, a rocket manufacturer tapped by NASA
to resupply the space station, and owns social networking company Twitter.
As of April 10, 2023 :
Last change +$6.42B ( +3.7%)
YTD change +$42.2B ( +30.8%)
Biggest asset TSLA US Equity
Country / Region United States
Age 51
Industry Technology
View net worth over: Max 1 year 1 quarter 1 month 1 week
04/10/22$160B$180B$200B$220B$240B$260B04/10/2204/10/23
RELATIVE VALUE
Elon Musk's net worth of $179B can buy ...
0
troy ounces of gold
0
barrels of crude oil
... and is equivalent to ...
0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income
LATEST NEWS
Mar 16, 2023
Tesla Becomes More Active on Twitter Since Elon Musk Acquisition
Apr 6, 2023
Tesla Alters Share Pledge Policy With Cap on Elon Musk Borrowing
Mar 14, 2023
Gary Lineker Questions Elon Musk After Son Receives Abuse on Twitter
NET WORTH SUMMARY
Cash
Private asset
Public asset
Misc. liabilities
#2
Elon Musk
$179B
Confidence rating:
Musk is CEO of publicly traded Tesla, the world's most valuable carmaker, and
closely held rocket business SpaceX, which counts the US National Aeronautics
and Space Administration as a client.
Musk owns about 13% of Tesla, according to an April 2023 regulatory filing. He
also holds about 304 million exercisable stock options from his 2018
compensation package.
SpaceX is valued using a January 2023 funding round that valued the company at
about $137 billion. Musk owns 42% of the closely held company through a trust,
according to a December 2022 filing with the Federal Communications Commission.
The value is reduced by 15% to account for typical discounts that shares in
unicorns attract on the secondary market.
In April 2022 Musk offered to buy Twitter Inc for $44 billion. The deal closed
in October 2022. He's calculated to own about 79% of the company's stock based
on external investors disclosed in May 2022. Its value has been adjusted based
on the price disclosed by investor Fidelity Blue Chip Growth Fund in their
February 2023 filing, valuing the shares at 37% of their purchase price. In
March 2023, Twitter offered employees stock grants that valued the company at
roughly $20 billion, according to a report.
Musk had pledged 58% of his Tesla shares as collateral to secure personal
indebtedness, according to the company's 2023 proxy statement. The maximum loan
allowable under this arrangement could be no more than the lesser of 25% of the
value of those shares or $3.5 billion, according to the filing, and a $3.5
billion loan is included in his calculation. Musk said in 2019 that some of his
SpaceX shares were also pledged, without providing further details. A liability
is included to reflect calculated pledges of SpaceX shares and other debt
related to the difference between cash Musk is calculated to have required to
purchase Twitter and the cash available to him at the time.
BIOGRAPHY
Birthdate:
Family: Single, 9 children
Born in South Africa to an engineer father and nutritionist mother, Musk left
home as a 17-year-old for college in Canada, in part to avoid serving in the
apartheid-era South African army. After graduating from the University of
Pennsylvania with degrees in physics and economics, he enrolled at Stanford
University. He dropped out after his first few days to pursue his three main
areas of interest: the Internet, clean energy and space.
He created an online publishing platform called Zip2 in 1995 and sold it four
years later for more than $300 million. He reinvested some of the proceeds to
start X.com, an online payment system. He would merge that with what eventually
became PayPal, the e-commerce site that was ultimately sold to eBay for $1.5
billion in 2002.
His next project: SpaceX, a closely held rocket company that was tapped by NASA
to take over space shuttle's role of resupplying the International Space
Station. A year later, he co-founded Tesla, the company that produced the
world's first all-electric, zero-emission sports car in 2010. In the same year
the company sold shares in a public offering.
His third company, SolarCity, was a provider of solar power systems. SolarCity
sold shares in a public offering in 2012 and was bought by Tesla on Nov. 21,
2016.
Musk, who has said he intends to retire on planet Mars, joined Warren Buffett's
Giving Pledge in April 2012.
Tesla became the world's most valuable carmaker in July 2020 and further gains
led to Musk becoming the world's richest person in January 2021. He announced in
October 2021 that Tesla would move its headquarters from Palo Alto, California
to Austin, Texas.
In April 2022 Musk made an offer to buy Twitter Inc for $44 billion after
acquiring a stake in the social-media firm. After its board agreed to recommend
the deal, Musk spent months trying to terminate it. Musk eventually purchased
Twitter in October 2022.
Milestones
* 1971 Elon Musk is born in Pretoria, South Africa.
* 1981 Buys first computer at age 10.
* 1983 Creates and sells his first commercial software game, Blastar.
* 1999 Develops an online payment system called X.com.
* 2000 Merges X.com with PayPal's parent company, Cofinity.
* 2002 PayPal acquired by eBay for $1.5 billion.
* 2002 Establishes SpaceX in a former airplane hangar near LAX.
* 2003 Begins designing the all-electric Tesla Roadster.
* 2008 SpaceX delivers its first satellite into space.
* 2010 Tesla Motors begins trading on the NASDAQ stock exchange.
* 2022 Purchases social-media company Twitter Inc for $44 billion.
Source: Bloomberg reporting
Methodology: The Bloomberg Billionaires Index is a daily ranking of the world's
richest people. In calculating net worth, Bloomberg News strives to provide the
most transparent calculations available, and each individual billionaire profile
contains a detailed analysis of how that person's fortune is tallied.
The index is a dynamic measure of personal wealth based on changes in markets,
the economy and Bloomberg reporting. Each net worth figure is updated every
business day after the close of trading in New York. Stakes in publicly traded
companies are valued using the share's most recent closing price. Valuations are
converted to U.S. dollars at current exchange rates... Read our complete
methodology →
Design & development: Christopher Cannon, Dean Halford, Brittany Harris and
Julian Burgess
BLOOMBERG BILLIONAIRES INDEX
Top 500 Richest Profiles Biggest movers Compare fortunes Track returns
Methodology
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