Elon Musk is the chief executive officer of Tesla and SpaceX; he is currently the wealthiest person in the world in 2021. Elon Musk is an Entrepreneur, Engineer, and Designer.
What is Elon Musk’s net worth in 2021?
According to Forbes and Bloomberg Billionaire Index (a ranking of the world’s 500 wealthiest people), Elon Musk’s net worth was $195 billion by the end of trading on Thursday 7th January 2021, which is $10 billion more than that of Jeff Bezos. Elon Musk’s wealth increased by more than $150 billion over the past 12 months.
Elon Musk Early Life
Elon Musk was born on June 28, 1971, in Pretorial, Transvaal, South Africa. His mother is Maye Musk, while his father is Errol Musk, a South African electromechanical engineer, pilot, sailor, and property developer. Elon Musk’s younger brother, Kimbal, was his early business partner. His sister Tosca is the CEO of Passionflix, a video streaming site. Eleon also has a half-sister and a half-brother on his father’s side.
Elon Musk lived with his father in the suburbs of Pretoria after his parents divorced in 1980, a decision he later regretted due to his father’s terrible act
Musk bought his first computer at the age of 10, and he taught himself how to program. He developed his first software sale- a game he created called Blaster. At the age of 17, he moved to Canada to attend Queen’s University but left in 1992 to study business and physics at the University of Pennsylvania. Elon Musk graduated with an undergraduate degree in economics and continues to a second bachelor’s degree in physics. He dropped out of Stanford University.
Elon Musk Business Career
In 1995, Musk started Zip2, a software company alongside his brother Kimbal and Greg Kouri, with money raised from a small group of angel investors. The housing of the venture was done in a small rented office in Palo Alto. Musk says he could not afford an apartment; instead, he sleeps on the office couch at the YMCA.
The company developed and marketed an Internet city guide for the newspaper publishing industry. With directions and yellow pages, the vector graphics mapping and surveillance were done by Musk in Java.
Elon was able to afford only one computer, and consequently, the website was up and running during the day, and the coding was done at night, seven days a week, all the time. They encountered success in their efforts and secured contracts with The New York Times and The Chicago Tribune. Compaq acquired Zip2 in 1999 for U$307 million in cash, and musk received U$22 million for his 7 percent share from the sale.
Musk co-founded X.com, an online financial service and e-mail payment company, with US$10 million in 1999 from the sale of Zip2. One year later, the company merged with Confinity, which had a money transfer service called PayPal. The merged company focused on PayPal service and was renamed PayPal in 2001.
In October 2002, PayPal was acquired by eBay for US$1.5 billion in stock, of which Musk received US$165 million. Elon Musk was the largest shareholder before the sale, with 11.7% of Paypal’s shares.
He purchased X.com from PayPal in 2017 for an undisclosed amount, explaining that it had sentimental value.
Elon Musk net worth in 2021
Elon Musk is the world’s richest person with a net worth of Elon Musk net worth was $195 billion. Elon is an Entrepreneur, Industrial Designer, and Engineer