Elon Musk net worth in 2020

What is Elon Musk’s net worth?

Net worth: $ 79.4 billion
Age: 49
Born: June 28, 1971
Country of origin: South Africa
Source of wealth: Entrepreneur / Investor
Last updated: 2020

In 2022, Elon Musk’s net worth is estimated at $ 79.4 billion.

Elon Musk is a South African-born Canadian-American business tycoon, investor, engineer, and inventor.

Musk has been involved in many successful startups; he is the founder, CEO and CTO of SpaceX; CEO of Tesla Inc .; Co-chair of OpenAI; Founder and CEO of Neuralink.

Most people will know that Elon’s original success was due to the creation of PayPal, one of the most widely used payment gateways on the internet today.

Early life

Elon Musk was born on June 28, 1971 in Pretoria, South Africa. His mother was a model from Canada, his father an engineer from South Africa. Musk has two younger siblings, Kimbal and Tosca.

Elon discovered his passion for computers when he was only 10 years old. He taught himself computer programming at the age of 12; and developed a video game called Blastar, which he sold for about $ 500 to a magazine called PC and Office Technology.

Career

After dropping out of Stanford University to become an entrepreneur, Elon founded Zip2 with his brother Kimbal.

Zip2 was a web software company that developed and marketed an Internet “city guide” for newspaper publishers. The company won contracts with the Chicago Tribune and the New York Times and was eventually sold to Compaq for $ 307 million.

With $ 22 million from Zip2 sales under his belt, Musk founded X.com, an email payments company. This later became the infamous PayPal when X.com merged with Confinity.

PayPal became the largest online payment transfer company and was acquired by eBay for $ 1.5 billion in stock. Musk was now $ 165 million richer.

It was around this time that Elon Musk began pursuing his passion of changing the world for the better and moving it forward by investing in Tesla, founding SpaceX and Solar City.

The success of these three companies is growing month by month and is responsible for the sudden surge in Musk’s net worth.

SpaceX is a driving force in space technology and is committed to reducing the cost of human spaceflight by a factor of 10.

Tesla is focused on solving the fossil fuel crisis in the automotive industry by developing affordable and stylish electric vehicles.

Solar City is the second largest solar power supplier in the United States.

In 2020, Elon Musk’s net worth is estimated at $ 79.4 billion.

Highlights

Here are some of the best highlights from Elon Musk’s career:

  • Move to Silicon Valley (1995)
  • Sells Zip2 to Compaq for $ 307 million in 1999
  • Creates X.com, which later becomes PayPal (1999)
  • eBay Acquires PayPal for $ 1.5 Billion (2002)
  • Becomes an American Citizen (2002)
  • SpaceX9 founded (2002)
  • Becomes CEO of Tesla (2008)
  • Tesla begins shipping all-electric Model S (2012)
  • The introduction of the Model X (2015)
  • Tesla merges with SolarCity (2016)
  • Model 3 arrives (2017)
  • The SpaceX Falcon Heavy Rocket Launches (2018)

Favorite quotes from Elon Musk

“Some people don’t like change, but you have to embrace change when the alternative is a disaster.” – Elon Musk

Elon Musk Quotes 2

“I think it’s very important to have a feedback loop where you’re constantly thinking about what you’ve done and how you could do it better. I think this is the best piece of advice: keep thinking about how you can do things better and questioning yourself. ” – Elon Musk

Elon Musk Quotes 3

“If something is important enough, you do it, even if the odds are not in your favor.” – Elon Musk

Elon Musk Quotes 4

“Patience is a virtue and I learn to be patient. It’s a tough lesson. ” – Elon Musk

Check out our larger collection of the best Elon Musk quotes!

3 success stories from Elon Musk

Elon Musk Success Courses

Here are 3 lessons to success we can all learn from Elon Musk:

1. Don’t be afraid to put yourself in uncomfortable situations

Elon already stated this after the sale of PayPal; He invested almost all of the money he received in other companies. He was taking an incredible risk and could easily have lost all the money he worked so hard for.

Musk had a vision, however, and so he wasn’t afraid to take the risk. We all know how well it paid off for him, considering that 15 years later he is worth more than 100 times the amount he received from PayPal.

“My PayPal acquisition proceeds were $ 180 million. I have $ 100 million in SpaceX, $ 70 million in Tesla, and $ 10 million in Sol. investedar city. I had to borrow money for the rent. ”- Elon Musk

2. Focus on creating amazing products

Elon Musk = Amazing Products.

PayPal, Tesla, SpaceX, Solar City; They are all focused on being the best solution for each and every market that they target. That’s why they became so successful because that focus determined how good the end product is.

The reality is that if your end product is not good enough, you are not doing anything else to achieve the same success.

3. Follow the final vision

Musk changes the world; with space and automotive technology, revolutionizing the world as we know it. He wants and does something.

This is his vision, his goal, and he put all his energy into it as soon as he had the money. You should always follow your vision and that of no one else.

summary

Elon Musk is a man who takes risks. Even after a huge payout from PayPal, he invested practically all of the money in SpaceX and Tesla to make his vision a reality.

Elon Musk’s net worth is estimated at $ 79.4 billion, and since his current businesses are all about the future, that number is sure to get bigger.

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