Elon Musk Net Worth 2022: Why Did Elon Musk Buy Twitter?

Businessman, investor, and philanthropist Elon Reeve Musk FRS was born on June 28, 1971, and is known professionally as “Elon Musk.” At SpaceX, he serves as CEO and Chief Engineer; he is an early-stage investor in Tesla, Inc.; he founded The Boring Company, and he is a co-founder of Neuralink and OpenAI.

Elon Musk is the world's richest person with an estimated net worth of roughly US$273 billion as of April 2022, according to Bloomberg Billionaires Index and Forbes real-time billionaires lists.

A Canadian mother and White South African father, Musk was reared in Pretoria, South Africa. He was born in Canada and raised in Pretoria. Before migrating to Canada at the age of 17, he attended the University of Pretoria for a short time.

For the first two years of his college career (at Queen's and the University of Pennsylvania), he was a student at the latter institution. At Stanford University in 1995, he was accepted into the business program but instead opted to start his own online software firm with his brother Kimbal, who was also accepted.

In 1999, Compaq paid $307 million for the firm and took it over as its own. As part of the X.com online bank, which merged with Confinity in 2000 to establish PayPal, Musk founded X.com in the same year. It was purchased by eBay in 2002 in a deal for $1.5 billion.

SpaceX, Musk's aerospace and space transportation services firm, was formed in 2002, with Musk serving as the company's CEO and chief engineer. When he joined Tesla Motors, Inc. (now Tesla, Inc.) in 2004, he was already the chairman and chief architect of the electric car maker.


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Net Worth History

His net worth was $28 billion as of January 1, 2020. In 2020, he had a $170 billion fortune.

For the first time ever, Elon Musk's net worth crossed the $70 billion mark on July 10, 2019. Tesla accounted for the remaining $55 billion, while SpaceX was responsible for about $15 billion of that total. When Elon's fortune reached $80 billion for the first time on July 13th, 2020, SpaceX contributed $15 billion and Tesla contributed $65 billion.

elon musk net worth

His net worth crossed the $90 billion mark for the first time in August 2020, thanks to two major events. Shares of Tesla climbed to an all-time high of $1,900 in mid-August, according to the company's website. The company's overall market value was $350 billion at that point. $70 billion was the value of Elon's 20% interest in the company On August 18, 2020, SpaceX's stock was officially valued at a higher price.

SpaceX's private value rose from $36 billion to $46 billion as a result of the funding round. Elon's 48% ownership adds $22 billion in pre-tax wealth to Elon's net worth at a valuation of $46 billion. Elon's fortune surpassed $100 billion for the first time on November 17, 2020. He became the third-richest person in the world for the first time at that point.

A milestone will be reached on November 24, 2020, when Elon Musk's net worth tops $128 billion. For the first time, he overtook Bill Gates to become the world's second-richest person. His net worth has climbed by $100 billion since January 1, 2020, making him $54 billion short of Jeff Bezos' $184 billion net worth on that day.

His net worth reached $195 billion on January 7, 2021. Elon became the world's richest man for the first time on this date, surpassing Jeff Bezos. Elton's net worth reached $210 billion on January 8, 2021, despite only having $170 billion to work with when the week began on January 7.

As of October 2021, when Tesla's market value reached $1 trillion and SpaceX was valued at $100 billion, Elon Musk had a net worth in excess of $200 billion.
At $1.2 trillion in market value on November 1, 2021, Elon Musk had a net worth of $335 billion.

Early Life

Elon Musk was born in Pretoria, South Africa, on June 28, 1971. When he was ten years old, Elon Musk bought his own computer and taught himself how to program it. He sold his first piece of software when he was 12 years old, a game he built called Blaster. Since then he's studied at Queen's University (Canada) and the University of Pennsylvania (United States).

elon musk net worth

A bachelor's degree in economics led Musk to seek a second bachelor's degree in physics, and he subsequently went on to acquire a doctorate in the field of energy physics. To join the internet boom, he dropped out of Stanford University.


Zip2 Corporation, Musk's first venture, was an online city guide. A subsidiary of Compaq Computer purchased Zip in 1999 for $307 million cash and $34 million in stock options. After X.com was created in 1999, Musk co-founded a financial services/payments firm called PayPal in 2000. This led to the birth of today's popular payment service known today as PayPal, which was purchased by eBay for $1.5 billion equity the following year.

With the goal of creating spaceships for commercial space travel, Musk established Space Exploration Technologies Corporation (SpaceX) in 2002, his third business venture. NASA gave SpaceX the contract to carry cargo to the International Space Station in 2008, with plans for future human transportation.

Elon Musk Net Worth

Originally from South Africa, Elon Musk is a Canadian-American inventor, entrepreneur, and businessman. The estimated wealth of Elon Musk is $250 billion. SpaceX CEO and CTO Elon Musk are best known for his roles as CEO and CTO of Tesla Motors, Tesla Motors CEO and Chief Product Architect (and Chairman) of SolarCity, and CEO and CTO of SpaceX. Currently, he is the world's richest man and the wealthiest individual in contemporary times.

Tesla's outstanding shares are now controlled by Elon Musk, who owns around 24% of the company's stock and 43% of privately held SpaceX. It was in October 2021 when Tesla's market capitalization crossed $1 trillion for the first time. SpaceX was valued at $100 billion in the same month. For the first time, Elon Musk's net worth hovered over $300 billion.

Personal Life

Two of Elon's three marriages have been with the same lady, Talulah Riley, who was an actress. From 2000 until 2008, he was married to Canadian novelist Justine Wilson. They have five boys together. He has also been romantically linked to Amber Heard and Grimes, both of whom are Canadian artists. Grimes and Elon welcomed a son, X A-Xii, in May of 2020.

Real Estate Holdings

Elon once possessed $100 million in California real estate. He still owns a 100-year-old 16,000-square-foot mansion on over 50 acres in Hillsborough, Northern California. For $23.364 million, he acquired it in 2017.

elon musk net worth

In Bel-Air, Los Angeles, he once had six mansions. It was reported that the actor had spent $17 million in 2012 on a 20,000-square-foot home, followed by another $20 million in 2015 and another $24.25 million in 2016 on a 9,300-square-foot home. To the world's surprise, Elon announced in 2020 that he would be selling everything, starting with his LA mansions. In keeping with his commitment, he sold each house. In December 2020, he sold four properties to one buyer.

Frequently Asked Questions

Why Did Elon Buy Twitter?

CEO and billionaire Elon Musk hopes to take Twitter private and has stated that he wants the social media firm to adhere more closely to free speech ideals, which, in a statement, Musk referred to as “the backbone of a working democracy.

How much did Elon Musk pay for Twitter?

The board of Twitter has agreed to a $44bn (£34.5bn) takeover offer from the billionaire Elon Musk. Mr. Musk, who made the shock bid less than two weeks ago, said Twitter had “tremendous potential” that he would unlock.

Is Elon Making Twitter Private?

By way of Bloomberg: To take Twitter Inc., the 16-year-old social networking platform that has become a focal point of public discourse and a flashpoint in the debate over online free speech, private, Elon Musk, the billionaire entrepreneur, agreed to purchase it for $44 billion. This is one of the largest leveraged buyout deals ever.

Seth Skemp
Seth Skemphttps://michigansportszone.com
An author who has written for years about how much celebrities are worth and what season it is. I've written a lot of articles about technology, movies, death, and dating. My main areas of interest are upcoming movies, actors, TV shows, and the newest celebrities. The main goal is to give more and more information. Check out michigansportszone.com to find out more...

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