Bloomberg Billionaires Index

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# 33 Elon R Musk $27.0B

Random fact: SolarCity was bought by Tesla for $2 billion in November 2016.

Overview

Musk is the chief executive officer of Tesla, a maker of electric vehicles. The Palo Alto, California-based company sells sedans, sport utility vehicles, and is the state's largest automotive employer. He's also CEO of Space Exploration Technologies, a rocket manufacturer tapped by NASA to resupply the space station.

As of :
Last change +$307M ( +1.1%)
YTD change +$2.91B ( +12.1%)
Industry Technology
Biggest asset Space Exploration Technologies Corp.
Citizenship United States
Age 48
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Elon R Musk's net worth of $27.0B 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
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Musk is chief executive officer of publicly traded carmaker Tesla, which became the state of California's biggest auto-industry employer, and closely held rocket business SpaceX, which counts the U.S. National Aeronautics and Space Administration as a client. 

Musk owns about 20% of Tesla, which acquired his SolarCity alternative energy business in 2016, according to a September 2016 merger prospectus. He owns about 34 million Tesla shares, according to a May 2019 stock exchange filing. He controls the stake through a revocable trust and has pledged 13.8 million shares as collateral against personal obligations, according to the company's 2019 proxy. These shares are included in the net worth analysis and their value offset by a $507 million liability, the amount of borrowings against them, as disclosed in an April 2019 filing. He also holds 4.8 million exercisable options, according to the company's proxy, which are included at their net value.

SpaceX is valued using an April 2019 fundraising round that valued the company at $34 billion, according to an analysis by EquityZen, a marketplace for shares in pre-IPO technology companies. Musk owned 54% of the closely held company through a trust, according to a Nov. 15, 2016 filing with the Federal Communications Commission. Bloomberg's analysis assumes he didn't sell shares in subsequent fundraisings and that his stake has been diluted to about 50% in proportion to the amount raised. The value is reduced by 15% to account for typical discounts that shares in unicorns attract on the secondary market, according to two brokers who asked not to be identified because the information is private.

His investment in tunneling venture Boring Company is valued at cost.

Spokesmen for Tesla and SpaceX declined to comment on Musk's net worth.

Biography

Birthdate: 6/28/1971
Family: Single, 5 children
Education: University of Pennsylvania, Wharton School of the University of Pennsylvania

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 founded Tesla Motors, a Palo Alto, California-based company that produced the world's first all-electric, zero-emission sports car in 2010, the same year the company sold shares in a public offering.

His third company, SolarCity, is the biggest provider of solar power systems in the U.S. Managed by his cousins, Peter and Lyndon Rive, SolarCity sold shares in a public offering in 2012 and was bought by Tesla on Nov. 21, 2016.

Musk, who recently said he intended to retire on planet Mars, joined Warren Buffett's Giving Pledge in April 2012.

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.