How did Elon Musk make his money? Find out his net worth and what he does with his money

Ex-boss at Paypal now spends his time on futuristic projects like the hyperloops, space travel and electric cars

How did Elon Musk make his money? Find out his net worth and what he does with his money

 

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Tech top executive Elon Musk is one in every of the richest men within the world, and additionally a pioneer in extremist advanced trade. the previous boss at Paypal currently spends his time on futurist comes just like the hyperloops, spaceflight and electrical cars . The Forbes list of billionaires ranks him because the 54th richest man within the world, with associate degree calculable fortune of $20.8billion. The 46-year-old's rise the wealth rankings has been speedy, when creating his beginning on the have list simply six years agone in 2012, with a fortune of $2billion. Of course, while not access to their bank statements, it's tough to mention precisely what proportion money the made and privileged have, therefore publications dissent in their guesses concerning individuals' price. Bloomberg ranks Musk forty fifth on their Billionaires Index, and estimates his current wealth to be $21.2billion. Born in African country, Musk visited university in North American country in 1989 and so the United States in 1992, wherever he got concerned within the technical school trade. His 1st company, Zip2, accredited on-line town guide software package to newspapers, and he oversubscribed it to Compaq in 1999 for $307 million, aged simply twenty seven. an equivalent year he joined a gaggle of alternative entrepreneurs to make on-line bank X.com. X.com united with Confinity in 2000, eventually turning into PayPal. Paypal oversubscribed to eBay in 2002 for $1.5billion, with Musk netting $165million from his shares. Musk endowed a large chunk of his personal fortune in obtaining his house company SpaceX off the bottom. His plan was to make business reusable rockets that offered corporations and government agencies an inexpensive thanks to place satellites and alternative loading into orbit. His long-run goal is to democratise house and eventually send humans to Mars. SpaceX suffered many unsuccessful launches and was nearly bankrupt, however managed to with success produce and launch the Falcon one rocket and earn a contract from National Aeronautics and Space Administration that set it on its path to turning into the primary business company in history to dock a craft with the International space platform. At an equivalent time, Musk was serving to to fund the expansion of electrical automotive startup Tesla Motors that had been fashioned in 2003. the corporate suffered within the 2008 monetary crash and Musk took over as chief operating officer. Musk additionally has interests in SolarCity - specialising in solar energy technology - associate degreed Hyperloop - a planned 500mph transport tube that might cut travel times from London to Edinburgh to [*fr1] an hour. Among his latest ventures is OpenAI - a firm developing computer science. Musk's 1st son with woman Justine Wilson was referred to as NV, and tragically died from fast crib death Syndrome at the age of 10 weeks. The couple went on to possess 5 additional boys - twins in 2004 and triplets in 2006. The couple later unmarried , however they share custody of the kids. however whether or not his youngsters can inherit his wealth is another matter. He has signed up to the Giving Pledge - associate degree initiative launched by Bill and Melinda Gates wherever the uber-rich comply with provide over half their wealth away to philanthropic causes.

 

 

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