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. Please enable Javascript or try a different browser. The brothers sold Zip2 to Compaq in 1999 for $307 million in cash and $34 million in stock. A very impressive fortune no doubt, but clearly not enough to make him the richest human being of all time. While the numbers involved in the case of Mr Musk were exceptional, this was a standard approach for a corporate executive to take to expiring stock options, he added. He instead has a highly unusual and extremely lucrative bonus plan tied to the company's market cap milestones. In 1999 a division of Compaq Computer bought Zip2 for $307 million in cash and $34 million in stock options. Elon Musk is a South African-born Canadian-American businessman, inventor and investor who has a net worth of $164 billion. 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ET First Published: April 21, 2023 at 5:03 a.m. Still, Forbes real time billionaire tracker puts Musks net worth at $241 billion. At this point Elon's net worth teetered around $300 billion for the first time. Under current law, a gain is only taxed if it is "realized" when its owner sells the asset and makes a profit. Meet the meme-loving magnate behind SpaceX and Teslapublished in 2021. That's what all the accounts are trying to communicate.". "About half my money is intended to help problems on Earth, and half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens and we destroy ourselves," it reads. The last time Twitter updated its privacy policy was in August 2021. WebElon Musk Earnings Calculator. Musk says the Hyperloop could take from 7 to 10 years to be built, tested and ready for use. 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. The Tesla and SpaceX entrepreneur was pushed into the top slot after Tesla's share price increased on Thursday. He takes the top spot from Amazon founder Jeff Bezos, who had held it since 2017. 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. That's 1,000 years before Jesus walked the earth. It's nearly impossible to accurately peg the wealth of someone who lived 700 years ago. 2023 BBC. 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. Twitter co-founder Jack Dorsey once a supporter of Elon Musks $44 billion acquisition of the site is now Physics Wallah Net Worth: From Teacher to Founder Submit a correction suggestion and help us fix it! 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. Elon Musk's net worth has surpassed $300 billion, making him the first person on the planet to reach that milestone. That's an increase of almost $10 billion from the previous day, thanks to a jump in Tesla shares on Thursday. We can all understand how eager he must be to continue his work (particularly his pressing mission to, er, colonize Mars) but a global pandemic feels like a good moment for pause. Most populous nation: Should India rejoice or panic? 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. Musk added $25 billion to his net worth yesterday, bringing his total fortune to $174 billion according to Bloomberg Billionaires Index. Musk's net worth is currently at $178.6 billion. Before falling to second on the richest persons list, Musk was worth around $184 billion. 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. See Musk's earnings in real time and how his salary stacks up against other automotive and business heavyweights. 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. Though, one major red flag for Wikipedia's list is it doesn't even include Elon Musk. Mansa Musa. True to his word, he proceeded to sell off each home. When he became the 10th emperor of Mali, Mansa Musa proceeded to establish the world's most-lucrative salt and gold production systems. Musk is now worth about $182 billion, while Bezos' net worth is $181 billion. Roughly least $60 million of his Morgan Stanley debt was home mortgage-related. Is climate change killing Australian wine? By age 12, he'd coded and sold his first computer game, Blastar. It means that Musk will have to show within the next five years that Tesla can make more profits than just about the whole of the rest of the motor industry combined to justify the valuation. He is also know for being the CEO and CTO of SpaceX and chairman of SolarCity. He reportedly burned through all of his liquid cash from previous business sales to launch SpaceX. At his peak, Musk was worth $340 billion, according to the Bloomberg Billionaires Index. He dove directly into his career plans, dropping out of Stanford two days after the first semester began. That occurred in November 2021, when Tesla's stock price hit a record He sold four homes at once to one buyer in December 2020. 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. This is the lowest since November 2020. That same month SpaceX raided money at a $100 billion valuation. In 2020, his net worth was $24.6 billion, landing him in 31st place on Forbes s list of billionaires. "My plan," the SpaceX founder tweeted Thursday about his fortune, "is to use the money to get humanity to Mars and preserve the light of consciousness. In October 2021 when Tesla's market cap topped $1 trillion and SpaceX's valuation was $100 billion, Elon's net worth was $300 billion. ICE Limitations. Please enter valid email address to continue. As of this writing, Elon Musk owns 43% of rocket maker SpaceX and 24% of Tesla. Using that number, Elon Musk is $5 billion (plus $1) away from being the richest person in modern history. On July 13, 2020 when Elon's net worth hit $80 billion for the 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 coronavirus pandemic has meant Amazon benefited from stronger demand for both its online store and cloud computing services. Each new project has been financed, at least in part, by funds generated from previous business successes, with each new effort becoming ever more ambitious. In 2020 Elon stunned the world by announcing his intention to sell all of his worldly possessions, starting with his LA homes. By the time Forbes revealed 2021s list of richest people in the world, To give Musk's wealth some perspective, consider that it is greater than the annual GDP of nations such as Finland, Chile and Vietnam and exceeds the market value of Netflix and PayPal, a company that he co-founded. In May 2020, Musk tweeted that he planned to sell almost all physical possessions a promise he delivered on before 2021 by selling three of his California homes for a combined total of $41 million. He could buy all 32 National Football League teams (currently worth more than $112 billion, according to data site Sportico) and still have almost $190 billion left over. Imagine as much gold as you think a human being could possess and double it. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. According to the Bloomberg Billionaires Index, Musk added $121 billion to his net worth in 2021, becoming the world's richest man who briefly saw his net worth cross $300 billion. WebOn Monday, Elon Musk ended the day with a net worth of $335 billion. He has also been romantically involved with actress Amber Heard and Canadian musician Grimes. First published on October 29, 2021 / 10:15 AM. 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. On Monday alone, Musk lost $8.6 billion as Tesla shares plunged 6.8% to $167.87 in New York trading. It's equally difficult to adjust that fortune to a modern equivalent. Kimbal Musk net worth: Kimbal Musk is a South African restauranteur, chef, and entrepreneur who has a net worth of $500 million. Join thought-provoking conversations, follow other Independent readers and see their replies. VideoThe secret mine that hid the Nazis' stolen treasure, LGBT troops take love for Eurovision to front line. Elon Musk was born June 28, 1971 in Pretoria, South Africa. In 1999, Elon and Kimbal Musk used the money from their sale of Zip2 to found X.com, an online financial services/payments company. Mr Musk has been embroiled in a public debate on social media over how much tax he pays. 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. On Monday, Elon Musk ended the day with a net worth of $335 billion. Start your Independent Premium subscription today. Elon's 20% stake was worth $70 billion. This article contains content provided by Twitter. Elon hit every single milestone and therefore qualified to receive all $100 billion from the bonus plan. Elon Musk's net worth. Submit a correction suggestion and help us fix it! Even so, that deal among Congressional Democrats isn't final. When Bezos was touted to soon become the worlds first trillionaire (he isnt yet but his net worth of $144bn puts him on track to become one by 2026), we learned he was richer than entire countries and later also found out he was richer than combined countries (to take an example: Jamaica, Iceland, Tunisia and Estonia). The reason is not what you think. "[Mr Musk] probably felt it would be prudent to generate as much taxable income in 2021 as possible, on the theory that income in 2022 might be taxed at higher rates," he explained. However, CZ himself dismissed these figures in a tweet on Thursday by writing Numbers all wrong. On November 24, 2020 Elon's net worth topped $128 billion for the first time. When we published our first estimate of Mansa Musa's net worth in 2012, we pegged his modern-equivalent fortune at $400 billion. 2023 BBC. US President Joe Biden is keen to increase taxes on the ultra-rich, although legislative plans have so far stalled in Congress. Every time we write an article about the richest people of all time, someone chimes in over email to complain that we didn't put King Solomon at #1. The affair reportedly led to Sergey filing for divorce from his wife of four years, Nicole Shanahan. The majority of that wealth is concentrated in public assets shares in Tesla, SpaceX, and his 9% stake in Twitter. To believe the electric car-maker's worth could rise so rapidly in just 12 months is the ultimate example of irrational exuberance. However, the future of the billionaires tax is uncertain, given that it wasn't included in President Joe Biden's framework for the domestic policy package released Thursday. However, he gave a 4% stake in the business to his ex-wife MacKenzie Scott after they split, which helped Mr Musk overtake him. Today you can find estimates that peg Rockefeller's inflation-adjusted net worth as high as $400 billion. It's extremely difficult to say, but I'm going to stick with the generally accepted estimate of $340 billion. End of twitter post 2 by Elizabeth Warren, How billionaires pay less tax than you. If he did not achieve any of the 12 tranches, he would have received zero compensation. Elon Musk, the world's richest person, has tweeted he will pay $11bn (8.3bn) in tax for this year. As of my knowledge cutoff date of September 2021, Elon Musks net worth was estimated to be around $198 billion USD, according to Forbes. After overtaking Bezos on 7 January to claim the title as the worlds richest person, Musk reiterated his pledge to use his wealth for what he believes is the greater good for the world. From there, he launched X.com, an email payment company. Mr Bezos has also seen his fortunes rise over the past year. Is climate change killing Australian wine? He has since sold off most of his homes and re-paid this mortgage debt. Know supply chain strategy with IIML COO Prog. Musk also donates periodically to charity, putting out a call on Twitter this week for ideas on ways to donate money that really make a difference. 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. 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? Coronavirus has widened America's vast racial wealth gap, study finds, Original reporting and incisive analysis, direct from the Guardian every morning, 2023 Guardian News & Media Limited or its affiliated companies. In Southern California he at one time owned six homes in the Los Angeles neighborhood of Bel-Air. Mr Bezos is also using his personal wealth to fund space exploration, The secret mine that hid the Nazis' stolen treasure. The second reason my earlier statement might be considered controversial is because there are several historical figures outside of modern history who were extremely wealthy. WebTo understand how rich billionaires really are, use this calculator | Elon Musk | The Guardian Jeff Bezos net worth of $144bn puts him on track to become the worlds first VideoThe secret mine that hid the Nazis' stolen treasure, LGBT troops take love for Eurovision to front line, Why an Indian comedian is challenging fake news rules. Their primary product was an internet-based guide for cities, that was geared towards the publishing industry, particularly newspapers. Because some would say that it's been nearly a decade since our estimate of $340 billion was published. 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 Musk graduated with an undergraduate degree in economics and continued on to earn a second bachelor's degree in physics then pursued a PhD in energy physics. Musk was worth $302 billion as of Thursday, according to the Bloomberg Billionaires Index. Two reasons: Thanks at least partially to an article I personally wrote back in 2012, most people generally agree that the richest person in modern history is Standard Oil founder John D. Rockefeller.
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